Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The Education Ministry has ordered the closure of four private schools for operating without permits in Egypt, Ahram Gate reports. The decision followed failure to reach a settlement with the schools, which refused to comply with instructions, according to the head of the ministry’s private education department Abir Ibrahim. The schools are Alexandria’s Elm International […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Capital Group Properties planning new projects in 6 October, North Coast, Red Sea
Capital Group Properties is looking to acquire land in 6 October City, the North Coast, and along the Red Sea to launch new projects, Chief Projects Officer Amgad Hassanein said, Al Shorouk reports. The company is also planning to sign development contracts worth EGP 5 bn this year, according to Hassanein.
Posted inReal Estate + Housing
ODE general assembly approves sale of stake in Makadi
The general assembly of Orascom Development Egypt (ODE) approved the sale of its stake in Makadi Gardens Hotel, Royal Azur Hotel and Club Azur Hotel. The Board of Directors of Roaya for Tourism and Real Estate Development, a subsidiary of ODE, also approved the sale of a land plot in Makadi destination with the hotels. […]
Posted inTourism
Egypt sees 39% surge in UK tourist arrivals this year
Egypt has welcomed 61,481 UK tourists in January and February 2018, marking a 39% increase compared to the same period last year, the Sun reports. British tourists have favored Egypt, Turkey, and Tunisia this year as they search for cheaper vacations. The surge comes despite the continuing ban on direct flights between the UK and […]
Posted inTourism
EgyptAir to increase flights to Russia during World Cup
EgyptAir will schedule additional flights to Russia in June to accommodate football fans heading to the World Cup, CEO Safwat Musallam told reporters yesterday, according to TASS. The national carrier had announced that it will begin operating three weekly flights to Russia as of 12 April. Russian airline Aeroflot said it will offer daily flights […]
Posted inBanking + Finance
CIB to manage, facilitate Orange Egypt’s EGP 7 bn loan
CIB will manage and facilitate a EGP 7 bn loan that Orange Egypt is seeking to consolidate its existing debt and finance its expansion plan in Egypt, Al Mal reports. The company has said it saw two consecutive years of losses partly due to last year’s 600 bps interest rate hike, which drove up financing […]
Posted inLegislation + Policy
Cabinet refers Unified Planning Act to Parliament for approval
The Ismail Cabinet has referred the Unified Planning Act to the House of Representatives for discussion and approval, Al Mal reports. The bill sets a framework for the state to regulate the planning and execution of national projects based on their merit, costs, and sources of funding. Cabinet had signed off on the law in […]
Posted inNational Security
Egypt joins GCC military exercise “Gulf Shield” in Saudi Arabia
The Armed Forces took part in the “Gulf Shield 1” joint military drill with GCC ground, naval and air forces in Saudi Arabia, the Armed Forces said in a statement.
Posted inON YOUR WAY OUT
Tawfik okasha could be making a comeback
Say it isn’t so: Former TV Presenter Tawfik Okasha is preparing for a TV comeback on his defunct Al Faraeen channel after two years off air, Al Masry Al Youm reports. The infamous talk show host, who brought the airwaves to a whole new low, disappeared from the Public sphere in 2016 following his expulsion […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.5719 | Sell 17.6714 EGP / USD at CIB: Buy 17.55 | Sell 17.65 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Monday): 17,172 (+-0.6%) Turnover: EGP 1.6 bn (39% ABOVE the 90-day average) EGX 30 year-to-date: +14.3% THE MARKET ON MONDAY: The EGX30 ended […]