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Romanian authorities have destroyed 1,100 kg of Egyptian potatoes after tests confirmed they were contaminated with brown rot disease, the Associated Press reports. The affected potatoes, which can contaminate water and soil, could have had an “extremely severe” economic impact if they infested water supplies, according to Romania’s agriculture ministry. This is the second Egyptian […]
Author Archives: enterpriseam admin
Posted inHealth + Education
October Pharma targets exports expansion in Africa, Turkey
October Pharma is investing EGP 30 mn to upgrade its production lines in order to increase exports this year, according to CEO Ahmed Zaghloul. The company will work on growing sales in existing markets such as Russia, as well as entering new markets in Africa and Turkey.
Posted inReal Estate + Housing
ODE announces its first housing project in Cairo
Orascom Development Egypt (ODE) is developing a 1,000-feddan land plot in West Cairo for its first housing project in the capital, the company announced. The project will be developed in partnership with the New Urban Communities Authority (NUCA) on a revenue sharing basis. ODE will set up a company named Orascom Real Estate of which […]
Posted inReal Estate + Housing
NUCA to issue tender for 2,000 homes in the new capital
The New Urban Communities Authority is planning to issue a tender for the development of 2,000 homes in the new capital’s third residential district, according to government sources. The authority is hoping to net EGP 3 bn from sales in the project, and may increase the development’s scope by another 500-1000 homes, sources added. The […]
Posted inAutomotive + Transportation
Transport Ministry looking to borrow EUR 50-55 mn for Abu Qir-Alexandria rail line upgrade
The Transport Ministry is in talks with international finance institutions for a EUR 50-55 mn loan to finance upgrades to the 22-km Abu Qir-Alexandria rail line, sources tell Al Mal. The European Bank for Reconstruction and Development is reportedly among the banks the ministry is speaking to. After the upgrades, the ministry will team up […]
Posted inBanking + Finance
FRA approves establishment of SME-focused Fund-of-funds
The Financial Regulatory Authority (FRA) is allowing the establishment of SME-focused fund-of-funds, FRA boss Mohamed Omran said on Tuesday, according to Al Shorouk. Fund-of-funds typically invest in other funds or in entire portfolios as opposed to one particular asset. These vehicles are increasingly being used channel funding to SMEs through venture capital and private equity […]
Posted inBanking + Finance
Alex Bank, Jordan Post agree to facilitate remittances
The Bank of Alexandria and Jordan Post have signed an agreement to facilitate wireless cash transfers to Egypt, Al Mal reports.
Posted inON YOUR WAY OUT
The world pays tribute to Omar Sharif on his 86th birthday
International media have joined Google in paying tribute to late Egyptian actor Omar Sharif on his would-be 86th birthday. The Independent has a video with five facts about the “Egyptian icon who conquered the world screen.” Did you know that the Golden Globe winner and Oscar nominee was also once ranked among the world’s top […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6272 | Sell 17.7272 EGP / USD at CIB: Buy 17.63 | Sell 17.73 EGP / USD at NBE: Buy 17.57 | Sell 17.67 EGX30 (Tuesday): 17,697 (+1.7%) Turnover: EGP 1.6 bn (39% ABOVE the 90-day average) EGX 30 year-to-date: +17.8% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
11 April (Wednesday): The Game Sports Industry Conference, Nile Ritz-Carlton Hotel, Cairo. 17-18 April (Tuesday-Wednesday): Creative Industry Summit, Four Seasons Nile Plaza Hotel, Cairo. 24-25 April (Tuesday-Wednesday): Renaissance Capital’s 3rd Annual Egypt Investor Conference, Cape Town, South Africa. 25 April (Wednesday): Sinai Liberation Day, national holiday. 01 May (Tuesday): Labor Day, national holiday. 02-03 May […]