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Cairo Investment and Real Estate Development Company plans to establish six schools in the Delta area for a total EGP 200 mn, Managing Director Mohammed Hassan tells Al Borsa. The company will build two schools a year, in governorates including Sharqiya, Damietta, Monofeya, and Kafr El Sheikh, estimating each to cost around EGP 30-40 mn.
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Tatweer Misr in talks for EGP 1 bn loan to finance purchase land in new capital
Real estate developer Tatweer Misr is in talks with local banks over a EGP 1 bn loan to finance the purchase of 500 feddans at the new administrative capital to construct a mix-use development, sources tell Al Shorouk.
Posted inTourism
Egypt to reopen TPA offices in Stockholm and Madrid
As tourism continues its strong climb back to recover, the Tourism Promotion Authority (TPA) will reopen a number of its offices abroad, beginning with Stockholm and Madrid, TPA head Hisham El Demery said, Al Shorouk reports. The decision comes after the number of TPA offices abroad dropped to eight from 20 in the years following […]
Posted inTelecoms + ICT
MNOs to meet with NTRA Wednesday to discuss selling lines through distributors
Mobile network operators plan to hold a meeting with officials from the National Telecommunications Regulatory Authority (NTRA) to discuss its decision of phasing out sales of phone lines and sim cards through distributors by March, Al Borsa reports. The decision, taken to guarantee know your customer data is properly logged, has thrown off the industry, […]
Posted inBanking + Finance
CBE, Banks launch the “spare change” initiative
Government banks have begun complying with the Central Bank of Egypt’s directive to set up a unified account to collect change from paper cheques and redirect the funds to national charity and development projects, Al Ahram reports.The CBE had announced late last week that it would begin implementing the strategy, which President Abdel Fattah El […]
Posted inBanking + Finance
EBRD to offer Beyti USD 44 mn loan to finance planned expansion
The European Bank for Reconstruction and Development (EBRD) approved a long-term loan of USD 44 mn to Beyti Food Industries, Al Borsa reports. Beyti will use the loan to refinance some of its existing short-term loans used for capital expenditures and finance planned expansions to Beyti’s dairy and juice production capacities.
Posted inOther Business News of Note
SCA offers fee exemptions for container ships passing through Damietta Port
Container ships with the capacity of 100 units or less passing through the Damietta Port will be exempt from paying the additional port fees, the Suez Canal Authority (SCA) decreed last Thursday, according to Al Borsa. The decision comes as part of a wider plan to attract more traffic to Egyptian ports, which saw the […]
Posted inEgypt Politics + Economics
The City of a Thousand Minarets down to one voice…thanks, Endowments Ministry
Religious Endowments Minister Mohamed Gomaa announced that the call to prayer will be unified across all mosques, according to the Egypt Independent. The debate over unifying the call to prayer has been ongoing years, with politicians and members of the House of Representatives continuing to denounce the move in recent months. In other words: Don’t […]
Posted inEgypt Politics + Economics
Mahienour El Massry acquitted of illegal protest
An Alexandria court has acquitted prominent Egyptian activist and rights lawyer Mahienour El Masry of taking part in an illegal protest. El Massry was sentenced to two years in prison last month over participating in a demonstration last year against the government’s decision to transfer sovereignty of Tiran and Sanafir to Saudi Arabia.
Posted inNational Security
Christian man killed in Northern Sinai
Gunmen reportedly shot and killed a Christian man in North Sinai, anonymous security officials told the AP. No group has claimed the attack so far.