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The International Automotive Manufacturing Co. has won a EGP 1 bn contract to export 600 mini- and microbuses to Ghana’s Education Ministry, company General Manager Sayed Morsi tells Al Mal. With funding from General Motors Egypt and Mansour Group, the company is planning to increase production and begin exports to Ghana at a rate of […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Transport Minister in talks with US company RailRunner for rail transport cooperation
Transport Minister Hisham Arafat has met with a delegation from the US-based transport company RailRunner to discuss cooperation on rail transport, Al Shorouk reports.
Posted inAutomotive + Transportation
23 consortia competing over the 6 October and new capital monorails
At least 23 consortia are bidding on contracts to design, finance, supply, operate, and maintain the 6 October-Giza and Nasr City-new capital monorails, as well as the Alamein-Ain Sokhna high-speed electric train, Al Mal reports. The list includes eight consortiums from China, seven from Turkey, and others from Iran, Ukraine, Portugal, Russia, Italy, and Kazakhstan. […]
Posted inBanking + Finance
CBE greenlights Banque du Caire’s establishment of EGP 500 mn financial leasing arm
The CBE has approved Banque du Caire’s plan to set up a financial leasing arm for the bank with EGP 500 mn in capital, Al Mal reports. The new company comes as part of BdC’s strategy to create new non-banking financing channels.
Posted inOther Business News of Note
Arbitration cases at CRCICA drop to 65 in 2017
The Cairo Regional Center for International Commercial Arbitration (CRCICA) received 65 new cases in 2017, down from 91 cases in 2016, Director Ismail Selim tells Al Mal. In 1Q2017, the center received 19 cases, with construction sector disputes alone making up 42.1% of cases.
Posted inLegislation + Policy
Council of State completes review of Economic Courts Law
The Council of State (Maglis Al Dawla) has completed its review of the Economic Courts Law, deputy head of the council Abdel Razek Mehran announced yesterday, Al Shorouk reports. The amendments would allow economic courts to handle consumer protection-related cases, and seek to expedite the dispute resolution process. The council is also nearly done with […]
Posted inON YOUR WAY OUT
10 schools evacuated in Alexandria after three students suffocate from the water
10 Alexandria schools were evacuated yesterday after chlorine gas seeped into drinking water, sending three students to hospital, according to AMAY. Investigations into the incident are ongoing.
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6030 | Sell 17.7030 EGP / USD at CIB: Buy 17.56 | Sell 17.66 EGP / USD at NBE: Buy 17.58 | Sell 17.68 EGX30 (Wednesday): 15,037 (+2.2%) Turnover: EGP 1.1 bn (2% BELOW the 90-day average) EGX 30 year-to-date: +0.1% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
08-11 February (Thursday-Sunday): Furnex & the Home international trade fair, Cairo International Convention Center. 10-12 February 2018 (Saturday-Monday): Third Africa STI Forum, Cairo. 12-14 February 2018 (Monday-Wednesday): Egypt Petroleum Show 2018 (EGYPS), New Cairo Exhibition Center. 19-20 February 2018 (Monday-Tuesday): The Banking Tech North Africa, The Nile Ritz-Carlton, Cairo 17-21 February 2018 (Saturday-Wednesday): Women For […]
Posted inWhat We're Tracking Today
What we’re tracking on 7 February 2018
Traders are braced for volatility in the days ahead. The benchmark EGX30 closed down 1.6% yesterday, mirroring losses in Europe. US shares, meanwhile, recovered from Monday’s sharp selloff to post what Bloomberg says was their best day since 2016 after a wild ride that saw equities open deeply in the red.And in the three hours […]