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Philips Lighting has begun manufacturing LED products on a trial basis in Egypt and is planning to begin exporting output by 2Q2018, Vice President Tamer Aboul Ghar told reporters yesterday, Reuters’ Arabic service reports. The company plans to eventually turn Egypt into a regional export hub for Africa, according to the VP. Philips is currently […]
Author Archives: enterpriseam admin
Posted inManufacturing
Chinese business delegation looks into establishing fodder factory in Luxor
A Chinese business delegation met yesterday with Luxor Governor Mohamed Badr to discuss plans to establish a fodder factory in the governorate, Ahram Gate reports. The project’s expected investment value was not disclosed. The delegation also looked into potential investments in agriculture, renewable energy, and tourism projects.
Posted inTelecoms + ICT
ICT Minister unveils new strategy to turn Egypt into regional data hub
ICT Minister Yasser El Kady has revealed a new national strategy to turn Egypt into a "global data center hub,” according to the State Information Service (SIS). El Kady said yesterday that the strategy aims to attract more investments and data centers to Egypt. State-owned monopoly Telecom Egypt said last week that it was looking […]
Posted inTelecoms + ICT
ICT Minister and Belarusian counterpart sign MoU for education cooperation
ICT Minister Yasser El Kady and his Belarusian counterpart Sergei Bobkov signed yesterday an MoU for cooperation on ICT education and research, Youm 7 reports. Discussions with Bobkov, who is on a two-day visit to Egypt, also extended to cooperation on cyber security, outsourcing services, manufacturing electronics, and tech entrepreneurship.
Posted inAutomotive + Transportation
National Railway Authority temporarily suspends train journeys to complete maintenance
The National Railway Authority has temporarily suspended 40 train journeys to expedite the completion of maintenance and development work on Egypt’s railway lines, Transport Minister Hisham Arafat said yesterday, Ahram Gate reports. The authority expects to complete upgrading railway crossings by 2022, authority head Sayed Salem said, according to Al Masry Al Youm. Meanwhile, the […]
Posted inAutomotive + Transportation
Alex transport authority to receive first electric bus in May for trial run
The transport authority in Alexandria will be receiving the first of 15 electric buses from China’s BYD in May to run trial operations before adding the rest of the batch to its fleet, Al Mal reports.
Posted inOther Business News of Note
First idle factory to receive EGP 10 mn in funding soon
Misr Capital Ventures is preparing to begin funding the first idle factory on its list, board member and former CEO Hany Tawfik said yesterday, Youm7 reports. The company will provide the factory with EGP 10 mn in financing necessary for it to restart operations once due diligence is complete, Tawfik added, without providing a timeframe.
Posted inEgypt Politics + Economics
Finance Ministry receives EGP 3.144 bn worth of tax returns
The Finance Ministry has received EGP 3.144 bn worth of tax returns from individuals this season, up from EGP 3.116 bn last year, Minister Amr El Garhy told Al Masry Al Youm. The deadline for companies to file their returns is 30 April.
Posted inON YOUR WAY OUT
Shaggy’s ‘It Wasn’t Me’ Feat. Trump and Mueller
A little something to brighten up your mornings: Trump and Mueller in a remake of Shaggy’s ‘It Wasn’t Me.’ We present to you Shaggy, as US President Donald Trump, and late night show host James Corden, as ex-FBI boss Robert Mueller, in a remake of the 2000s’ pop hit ‘It Wasn’t Me.’ For those of […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6058 | Sell 17.7058 EGP / USD at CIB: Buy 17.61 | Sell 17.71 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Tuesday): 17,493 (-1.1%) Turnover: EGP 2.3 bn (99% ABOVE the 90-day average) EGX 30 year-to-date: +16.5% THE MARKET ON TUESDAY: The EGX30 ended […]