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The only thing on the brains of the nation’s columnists: What does President Abdel Fattah El Sisi’s second presidential term have in store for Egypt. The president begins his next four years with several key problems, including shoring-up his waning popularity while pushing ahead with necessary reforms, all of which need better governance to be […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Shoukry meets Jordanian, Palestinian officials in Cairo
Foreign Minister Sameh Shoukry and Intelligence Chief Abbas Kamel met with their Jordanian counterparts and Palestinian officials in Cairo on Thursday to discuss the latest developments in the situation in Gaza, after Egypt brokered a ceasefire last week that put an end to a flare-up of violence that erupted after the US moved its embassy […]
Posted inDiplomacy + Foreign Trade
US congressional delegation meets with Defense Minister Sedki Sobhi in Cairo
Defense Minister Sedki Sobhi met with a US congressional delegation in Cairo to discuss joint security cooperation, according to an Armed Forces statement on Thursday. The Chairman of the House Oversight and Government Reform Committee, Darrell Issa, led the delegation.
Posted inBasic Materials + Commodities
Obour Land, Domty plan to set 2-4% price hike
Cheesemaker Obour Land is planning to raise prices by 2% in 2H2018 following a planned hike in energy prices, Chairman Ashraf Hamad tells Al Mal. Pharos Holdings’ Hadi Medhat also expects Domty to raise prices by 4% to cope with an expected increase in costs.
Posted inHealth + Education
18 companies express interest in phase two PPP schools
At least 18 private companies have expressed interest in developing schools under phase two of the government’s public-private partnership framework, Education Minister Tarek Shawki tells Al Mal, without naming the potential bidders. Five other companies had already won tenders to build 21 schools as part of phase one of the project, on which work is […]
Posted inReal Estate + Housing
Heliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams
The Heliopolis Company for Housing and Development (HCHD) announced on Thursday (pdf) reaching a EGP 15 mn settlement agreement with Magic Dreams on the dispute related to the development of Merryland Park. HCHD has already received EGP 5 mn of the amount and is expecting to receive a similar payment 10 days’ time. The remaining […]
Posted inAutomotive + Transportation
EgyptAir Cargo set to fly its first plane to Chicago in November
EgyptAir Cargo is planning to fly its first weekly freight plane to Chicago this November, the company’s Chairman Bassem Gohar to Al Mal. The new line is part of EgyptAir’s strategy to upgrade its fleet to serve a larger variety of purposes.
Posted inBanking + Finance
Al Ahly Capital eyes EGP 3 bn worth of EGX-listed stake sales
Al Ahly Capital is planning to divest stakes in a number of its EGX-listed subsidiaries worth EGP 3 bn “in the coming period,” Head of Investment Karim Aboul Naga tells Al Mal. The move comes as part of the restructuring underway ahead of the government’s privatization program, which begins this month. Al Ahly holds shares […]
Posted inEgypt Politics + Economics
Supply Minister denies plans to raise subsidy card allowances
The government is not planning on increasing ration card holders’ monthly allowances next month, Supply Minister Ali El Moselhy tells Al Mal. Reports had emerged last month that the government is planning to roll out a EGP 15 bn social protection package in July, which would include a “marginal” increase in the monthly allowance ration […]
Posted inON YOUR WAY OUT
Saudi sports channels to air World Cup matches for free
Saudi sports channels are reportedly planning to air all World Cup matches for free in the Arab world, Saudi journalist Ghazey Al Harthy tweeted on Wednesday, citing anonymous sources. “From now on, Arab viewers will no longer have to pay for expensive subscriptions in [Qatar’s] BeIN sports to watch the World Cup,” he said.