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Dubai Investments PJSC is planning to invest USD 20 mn to fund the development of SABIS-operated schools in African countries, including Egypt, Gulf News reports. The investment will be directed towards Africa Crest Education Holdings, “which promotes education across Africa.” The International School of Choueifat is currently Egypt’s only SABIS-operated school.
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
El Shams Housing to spend EGP 235 mn this year on expansion plans
El Shams Housing And Urbanization Company is planning to spend EGP 235 mn this year to finalize land purchases in the new administrative capital and complete phase four of its Gardenia El Shams in 6 October City, Chairman Mahmoud Maghawry tells Al Mal.
Posted inTourism
New museum to open Saturday in El Matareya
Antiquities Minister Khaled Anani will inaugurate the newly renovated museum in Cairo’s Matareya neighborhood on Saturday, according to Al Mal. Excavation work is ongoing in Matareya, where German and Egyptian archaeologists unearthed an eight-meter Ancient Egyptian statue in March last year, as researchers believe they can find more artefacts. The space around the museum is […]
Posted inTelecoms + ICT
IT and ITeS exports worth over USD 3.25 bn in 2017, study shows
Egypt’s IT and IT-enabled services (ITeS) export industry was worth over USD 3.25 bn in 2017, a study conducted by International Data Corporation (IDC) showed. IDC expects the volume of exports to grow at a compound annual growth rate of 13.4% from 2017 to 2020. The study also shows that the overall Egyptian IT/ITeS industry […]
Posted inBanking + Finance
CBE sells USD 1.075 bn in one-year T-bills
The central bank announced selling USD 1.075 bn in one-year, USD-denominated treasury bills in an auction yesterday. Foreign and local financial institutions bought the T-bills at a weighted average yield of 3.295%.
Posted inEgypt Politics + Economics
Court sentences man to death over Coptic priest’s killing
A Cairo court has sentenced a man to death after he was convicted of killing a Coptic priest in Cairo last October, The Associated Press reports. The defendant Ahmed Saeed stabbed to death the 40-year-old cleric Samaan Shehata in Salam City and wounded another priest in the attack.
Posted inEgypt Politics + Economics
Finance Ministry targeting EGP 611 bn in tax revenues for FY2017-18
The Finance Ministry is targeting EGP 611 bn in tax revenues for FY2017-18, Vice Minister of Finance Amr El Monayer said yesterday, Youm7 reports. The ministry’s target would put tax revenues at 73.5% of GDP, up from 72% last fiscal year. Revenues had reached EGP 433 bn in FY2016-17, marking a 30% y-o-y increase.
Posted inSports
Marwan El Shorbagy and Ali Farag pick up squash titles
Egypt’s Marwan El Shorbagy beat New Zealand’s Paul Coll in the 2018 Suburban Collection Motor City Squash Open finals in the US last week,according to Egyptian Streets. The victory makes Shorbagy the fifth Egyptian to pick up the title. The weekend also saw Ali Farag win the 2018 UCS Swedish Open over German Simon Rosner; […]
Posted inSports
Cycling team wins African Championship
The national cycling team cleaned house at the African Indoor Championship in Morocco, picking up 12 gold medals, eight silver and three bronze, according to Al Wafd. The championships also saw Ibtisam Zayed and Dunia Rashwan qualify for the world championship in the Netherlands at the end of the month.
Posted inON YOUR WAY OUT
CTRL-Labs working on thought-computer communication
New York City-based startup CTRL-Labs is working on creating interface that can allow us to use our thoughts to communicate with computers. The technology is based on using sensors to capture and decode motor neurons (the electric signals our brain sends our muscles to get them moving) in order to turn them into direct commands […]