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The government will select the winning bid to supply the Egyptian National Railways with 1,300 railway cars for around EGP 18 bn next month, Transport Minister Hisham Arafat tells Al Borsa. The ministry is deliberating between offers from a Chinese and a Spanish company, in addition to a Russian-Hungarian and an Indian-Italian consortium. The government […]
Author Archives: enterpriseam admin
Posted inBanking + Finance
Samcrete in talks with local banks for EGP 2.5 bn credit facility
Real estate developer Samcrete is in talks with local banks for a EGP 2.5 bn credit facility to finance the contracting projects it has undertaken, an unnamed company source tells Al Mal. Samcrete is primarily negotiating with the National Bank of Egypt but is also in talks with other banks, according to the source.
Posted inOther Business News of Note
IFC to support SMEs in Dakahlia
The International Finance Corporation (IFC) will support the Dakahlia Businessmen Association for Community Development (DBACD) as it scales up its lending operations and caters to borrowers who seek larger loans. IFC will also help DBACD improve in key areas, including risk management and strategic business planning, IFC said in a statement yesterday. The latest partnership […]
Posted inEgypt Politics + Economics
Khairy Ramadan returns to TV after detention over allegedly “insulting police”
TV Presenter Khairy Ramadan returned on air on Saturday following his release on bail pending investigations into charges of spreading false news and insulting the police, Al Masry Al Youm reports. The charges were filed after Ramadan aired an episode of his show talking about police wages being too low.
Posted inEgypt Politics + Economics
Court sentences 10 to death, five to life in prison on terror charges
The Giza Criminal Court handed down on Saturday a death sentence to 10 defendants and a life imprisonment sentence to five others for forming a terrorist cell, attacking the armed forces, and inciting violence against Christians, among other charges, the Associated Press reports, citing MENA.
Posted inSports
Egypt’s Shorbagy wins 15th edition of Canary Wharf Classic
Squash champion Mohamed El Shorbagy became the first ever Egyptian winner of the prestigious Canary Wharf Classic after he defeated compatriot Tarek Momen in London’s East Wintergarden, according to the PSA World Tour.
Posted inON YOUR WAY OUT
500 Startups extends deadline for MENA Dojo Series A program
Silicon Valley-based 500 Startups announced that the deadline for submitting applications for its second edition of MENA Dojo Series A Program has been extended to 15 March. “The program aims to support post-seed stage startups to boost their growth to the next level with a 1-to-1 mentor-driven growth hacking program.” Launched in 2017, 500 Falcons, […]
Posted inON YOUR WAY OUT
Egypt's first one-legged "Miracle Team" hopes to join Amputee Soccer World Cup
TEAR JERKER MOMENT WATCH- A “Miracle Team” of 40 Egyptian one-legged soccer players hopes to join the Amputee Soccer World Cup, Xinhua reports. The team also hopes to start league for Egypt’s disabled footballers. "We love soccer since childhood. We have a dream of being soccer players but we didn't have a chance," says 28-year-old […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.56 | Sell 17.66 EGP / USD at CIB: Buy 17.55 | Sell 17.65 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Sunday): 16,391 (-0.5%) Turnover: EGP 1.3 bn (14% ABOVE the 90-day average) EGX 30 year-to-date: +9.1% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
12-13 March (Monday-Tuesday): French business union MEDEF’s delegation visit to Egypt. 12-16 March (Monday-Friday): AmCham’s 40th Doorknock mission, Washington D.C., USA. 28-31 March 2018 (Thursday-Sunday): Cityscape Egypt, Cairo International Convention Centre, Cairo. 02-03 April (Monday-Tuesday): Pharos Holding’s investor conference: In Search for Egypt Alpha, Cairo. 08 April (Sunday): Easter Sunday, national holiday. 09 April (Monday): […]