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Real estate developerCatalyst Real Estate is planning to start work on a new EGP 5 bn development this year, Chairman Osama Shalaby told Al Masry Al Youm yesterday. He said that licenses and paperwork for the 360k sqm, 3600-housing unit project in Al Galala are almost at hand.
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
MG Developments to spend EGP 800 mn on office space project
MG Developments is investing EGP 800 mn to establish a commercial administrative complex in New Cairo, the company said in a statement picked up by Al Shorouk. MG has already broken ground on the new project, Headquarters Business.
Posted inTourism
Alexandria launches first charter flight to Arab capital with Beirut route
Tour operators agreed to launch charter flight routes between Alexandria and other Arab capitals, with the Beirut line set to be the first to launch, according to Al Shorouk. Tishoury Tours boss George Boulos also told the newspaper that his company received authorization from security to allow Lebanese citizens to enter the country through Alexandria […]
Posted inTelecoms + ICT
Vodafone, TE renew agreement over use of infrastructure
Vodafone Egypt and Telecom Egypt have renewed an agreement that allows Vodafone to use TE’s network infrastructure to offer its mobile services, according to Al Shorouk. Under the three-year agreement, TE will collect at least EGP 2.370 bn from Vodafone and offer new commercial and technical services in exchange. VFE officials had said last month […]
Posted inAutomotive + Transportation
Transport Ministry to test third metro line in June
The Transport Ministry will run trial operations on phase four of the Cairo Metro’s Line 3 in June, before it opens it to the public in November,ministry sources told Youm7.Minister Hisham Arafat is in talks with the French Development Agency over an additional funding package for the Cairo Metro and the Alex Tram.
Posted inOther Business News of Note
IDA has issued over 3,500 licenses since Industrial Permits Act
The Industrial Development Authority (IDA) issued more than 3,500 temporary and permanent licenses since the Industrial Permits Act passed last year, Chairman Ahmed Abdel Razek told Al Borsa. The act simplifies licensing procedures by cutting the way time for approval and is a key part of the government’s economic reform program.
Posted inEgypt Politics + Economics
UEIA supports Sisi’s reelection
The Union of Egyptian Investors Associations (UEIA) threw their weight behind President Abdel Fattah El Sisi’s reelection bid yesterday, Ahram Gate reports, citing a statement.
Posted inNational Security
Roadside bomb kills two in North Sinai
A roadside bomb targeting security forces in North Sinai killed two yesterday, The Associated Press reports. “The officials say the Sunday blast took place on a road just south of the coastal city of el-Arish. Five other members of the security forces and a civilian were wounded in the attack.”
Posted inSports
Mohamed Salah breaks record for highest-scoring Egyptian player in the Premier League
Football star Mohamed Salah broke the record for the highest scoring Egyptian player in the Premier League, netting 23 goals in 25 games, Egypt Today reports. Salah surpassed the previous record of 22 goals set by now-retired Ahmed Hossam (Mido). This comes as Goal Arabia’s editors voted for Salah as the Best Arab Player of […]
Posted inON YOUR WAY OUT
Three charged in shooting of Egyptian citizen Andrew Samir in Maryland
Police have arrested two men and a woman in connection with the fatal shooting of 28-year-old Egyptian pharmacist Andrew Samir Kolta in Maryland, CBS reports. The armed robbery took place last week outside Kolta’s home in Gambrills. He was taken to Baltimore-Washington Medical Center, where he died. The Egyptian Embassy in Washington is making arrangements […]