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The National Telecommunications Regulatory Authority (NTRA) has instructed Vodafone Egypt, Orange Egypt, and Etisalat Misr to sell no more than 50 SIM cards a month through their distributors, Al Mal reports. The move, which came into effect on Monday, is meant to restrict the distribution of unregistered mobile phone lines. Telecom Egypt’s WE has been […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Subsea telecommunications cable connecting south Asia, east Africa to include Egypt
A Huawei Technologies-Global Marine Systems joint venture will begin conducting the route survey for a new subsea telecommunications cable connecting south Asia and east Africa that will eventually be extended to reach Egypt and South Africa, Data Center Dynamics reports. The cable relies on technology “used to increase bandwidth on fiber networks by transmitting multiple […]
Posted inAutomotive + Transportation
Suez Canal Authority renews tariff discounts for 2018
Discounts on fees for container ships, dry bulk carriers, and oil tankers passing through the Suez Canal will be extended for an additional year, the Suez Canal Authority announced, Al Mal reports. Dry bulk carriers traveling from South Africa to Mediterranean ports or vice versa will see their tolls slashed by 40-50%, depending on the […]
Posted inAutomotive + Transportation
Studies for electric rail system in Mansoura underway
Studies are underway for an electric railway system connecting the various parts of Mansoura and link them to newer developments, Transportation Ministry sources tell Al Shorouk. The studies are part of a EUR 500k French grant and a whole host of transportation agreements signed during President Abdel Fattah El Sisi’s visit to Paris in October.
Posted inBanking + Finance
Six banks to lend Tanmeya for Leasing and Investment EGP 360 mn
A consortium of six banks is lending Tanmeya for Leasing and Investment (EgyLease) EGP 360 mn to build up its credit portfolio, EgyLease Chairman Iman Ismail tells Al Mal. The banks include the National Bank of Egypt, Banque Misr, the Arab African International Bank, the Export Development Bank, Union National Bank, and Suez Canal Bank. […]
Posted inOther Business News of Note
GAFI looks into nine offers for private freezone projects
The General Authority for Freezones and Investment (GAFI) has begun looking into nine offers from Turkish and Saudi investors for private freezone projects with a combined investment value of EGP 3 bn, unnamed government sources tell Al Borsa. The projects span several industries, including spinning and weaving, and readymade garment manufacturing. GAFI had initially received […]
Posted inEgypt Politics + Economics
Cabinet to discuss national solid waste management plan by month’s end
The Ismail Cabinet will discuss the proposed national solid waste management plan, which includes establishing a solid waste management holding company, at the end of the month, Environment Minister Khaled Fahmy told the press yesterday, Ahram Gate reports. The EGP 7 bn company will become the primary regulator of the waste management industry, a move […]
Posted inEgypt Politics + Economics
Cairo court releases two more from LGBTQ crackdown
A Cairo court ordered the release on bail of two people who were arrested during the LGBTQ crackdown that followed Lebanese band Mashrou’ Leila’s Egypt concert, Reuters reports. Sarah Hegazy and Ahmed Alaa paid EGP 2,000 each. 17 others of those arrested had been released at the end of November, but their cases are still […]
Posted inNational Security
Lockheed Martin to supply Egypt with USD 25 mn worth of Apache night vision sensor kits
Lockheed Martin has been awarded a USD 25 mn contract for night vision sensor kits for Egypt's AH-64 Apache fleet, UPI reports. The agreement provides Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor Systems, which allow for “long range, precision engagement and pilotage solution for day, night, and adverse weather missions.”
Posted inON YOUR WAY OUT
Bitcoin trading “forbidden,” Grand Mufti says
Bitcoin trading is “forbidden” under Islamic teachings, Grand Mufti Shawki Allam said, according to the BBC. Trading in the cryptocurrency carried risks of “fraudulence, lack of knowledge, and cheating,” and that risks could arise because was not subject to surveillance by any centralized authority, he says.