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President Abdel Fattah El Sisi inaugurated on Thursday the first phase of the Agriculture Ministry’s project to establish greenhouses spanning 100k feddans in the Hamam area on the North Coast, Al Mal reports. The first phase includes 5,000 greenhouses across 20k feddans and is part of a project first announced in June 2016.
Author Archives: enterpriseam admin
Posted inHealth + Education
Cleopatra to partner with El Nahda on unit to manage 160-bed hospital in Beni Suef
Cleopatra Hospitals Group’s board of directors approved on Thursday a partnership with El Nahda Company to co-establish a unit to manage and operate a 160-bed hospital in Beni Suef, according to a company statement. The board also approved a EGP 125 mn loan from CIB to finance operations.
Posted inReal Estate + Housing
Redcon to develop EGP 2 bn projects in New Alamein
Redcon Construction has won EGP 2 bn contracts to build a 42-story tower and a university campus in New Alamein city, CEO Hossam Nassar tells Al Mal.
Posted inTourism
Thomas Cook on track to meet earnings forecast as popularity of Egypt resurges
Thomas Cook said it is on track to meet forecasts for growth in the current fiscal year as it adds more holidays to Egypt and Turkey, according to Reuters. The returning popularity of holidays to Egypt and Turkey would help offset margin pressures Thomas Cook is facing in Spain, the tour operator says. The Group […]
Posted inTourism
On The Beach revenue up on increased demand for trips to Egypt
Holiday group On The Beach PLC saw a 23% increase in revenue for the four months to January as demand for holidays in Egypt recovered, according to Proactive Investors. “Customer looking for bargains at destinations in the Eastern Mediterranean drove strong bookings growth for summer 2018 departures.”
Posted inAutomotive + Transportation
NAT to announce winner of consultancy tender for Alex tram project in April
The National Authority for Tunnels (NAT) will select the winning offer in its consultancy tender for the Alexandria tram project in April, NAT sources say, Al Borsa reports. Five consortia are competing in the tender.
Posted inBanking + Finance
Golden Pyramids to issue USD 200-750 mn in bonds
Golden Pyramids Plaza’s EGM approved issuing non-convertible bonds in the range of USD 200-750 mn, according to a bourse announcement. The bonds will be marketed in an institutional offering.
Posted inBanking + Finance
NBE sees inflows of USD 1 bn for January
The National Bank of Egypt’s (NBE) USD inflows stood at USD 1 bn in January, Executive Chairman Hisham Okasha told AMAY. The bank has financed over USD 20 bn-worth of trade and import activities since the 2016 EGP float, he added.
Posted inBanking + Finance
CIB managed securitization bond issuances worth more than EGP 2.2 bn
CIB managed securitization bond issuances worth north of EGP 2.2 bn throughout 2017 and January 2018, a source at the bank said, Al Masry Al Youm reports. These issuances include EGP 200 mn portions of two separate issuances on behalf of Corplease worth EGP 1.148 bn and EGP 1.074 bn.
Posted inBanking + Finance
Banque du Caire to open offices in Kenya and Tanzania
Banque du Caire is planning to launch representative offices in Kenya and Tanzania as part of its international expansion strategy, Chairman Tarek Fayed tells AMAY.