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Egypt Property Show saw USD 110 mn in sales in this year’s edition, up more than 100% y-o-y from last year, according to a press release. The exhibition, which was held in Dubai last year, brought together some of Egypt’s biggest real estate developers, including SODIC, Palm Hills, and Madinet Nasr Housing and Development. The […]
Author Archives: enterpriseam admin
Posted inTourism
EgyptAir considers resumption of Libya flights this year
EgyptAir may resume flights to and from Libya this year following a four-year hiatus, company sources tell Youm 7. After ensuring the security situation is stable and airports are secured in Libya, EgyptAir would operate four flights to Tripoli and three flights to Benghazi per week, the sources say, adding that a delegation from Egypt’s […]
Posted inBanking + Finance
FRA grants Raya Holding’s Aman micro financing license
The Financial Regulatory Authority (FRA) has granted Raya Holding’s SME financing subsidiary Aman the license to launch micro financing activities, the company said in a statement (pdf). Raya had announced in January that Aman would launch operations in 2H2018 as soon as it receives FRA’s license. The financial services arm, which aims to offer financing […]
Posted inBanking + Finance
AAIB, KfW’s SANAD fund launch JV microfinance startup SANDAH
The Arab African International Bank (AAIB) and German development bank KfW’s SANAD fund launched their JV microfinance startup, SANDAH, CEO Bassel Rahmy tells Reuters’ Arabic service. SANDAH has a paid-in capital of EGP 115 mn. The new company is 70% owned by AAIB, with the remaining 30% under SANAD’s control.
Posted inOther Business News of Note
French yeast manufacturer Lesaffre inaugurates 39th baking center in Egypt
French yeast manufacturer Lesaffre inaugurated its 39th baking center in Egypt last Thursday, according to Food Navigator. The new center “will perform day-to-day activities such as bread making, training, product and process development and commercial presentation of its products,” as well as act as a coordinator between Lesaffre’s activities in the region, Asia, and France.
Posted inON YOUR WAY OUT
GAFI approves license for e-waste recycling startup Dr WEEE
An interesting approach to e-waste recycling: The General Authority for Freezones and Investors (GAFI) has granted e-waste recycling startup Dr WEEE a license to launch operations, Al Shorouk reports. The company, which offers to collect e-waste from homes, processes “electronic waste deemed as unrecoverable and normally disposed off in landfill or burnt.”
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.69 | Sell 17.79 EGP / USD at CIB: Buy 17.7 | Sell 17.8 EGP / USD at NBE: Buy 17.66 | Sell 17.76 EGX30 (Wednesday): 17,460 (-2.0%) Turnover: EGP 1.9 bn (63% ABOVE the 90-day average) EGX 30 year-to-date: +16.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
14 May (Monday): Flat6Labs’ Cairo Spring Demo Day, InterContinental Semiramis, Cairo. 17 May (Thursday): Expected date for the start of Ramadan. 17 May (Thursday): CBE’s Monetary Policy Committee meeting. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 28 June (Thursday): CBE’s […]
Posted inWhat We're Tracking Today
What We’re Tracking on 9 May 2018
The biggest story of this morning: US President Donald Trump announced overnight that the US is withdrawing from the 2015 multi-country nuclear pact with Iran, calling it “one of the worst and most one-sided transactions the United States has ever entered into.” Washington will move to reinstate “the highest level” of economic sanctions against Tehran, […]
Posted inWhat We're Tracking Today
Egyptian indie film Yomeddine premieres at 71st Cannes Film Festival today
We’re beaming with pride this morning because Egyptian indie film Yomeddine premieres today at the 71st Cannes Film Festival. Yomeddine will compete in the prestigious event for the Palme d’Or — the highest prize awarded at the annual festival. Directed by first-time Egyptian-Austrian filmmaker Abu Bakr Shawky, Yomeddine follows the story of a leper who […]