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The Tahya Misr Fund signed a cooperation agreement with Saudi Arabia’s CAD Pharma for a planned EGP 1 bn cancer medication factory, Chairman of the Tahya Misr Fund Mohamed El Ashmawy tells Al Borsa. The agreement will see the two sides study the market’s needs before moving ahead with constructing the factory. Ashmawy says the […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Prosecutors orders arrest of former ACDIMA head for penicillin shortage
Financial crimes prosecutors ordered on Sunday the arrest of the former president of the Arab Company for Drug Industries and Medical Appliance’s (ACDIMA) Medhat Shaarawi, on charges of causing a penicillin shortage in the local market, Al Masry Al Youm reports. Shaarawi is also facing charges of profiteering and deliberately harming public funds. The Public […]
Posted inReal Estate + Housing
Tatweer Misr, Mostakbal sign cooperation for two projects worth EGP 33 bn
Real estate developer Tatweer Misr signed two agreements with Mostakbal for Urban Development worth a combined EGP 33 bn for projects spanning 325 feddans, Tatweer Misr announced yesterday (pdf). The first agreement, worth EGP 28 bn, is for a mixed use community spanning 325 feddans. The project will be completed in several phases over the […]
Posted inReal Estate + Housing
El Masria developing projects worth EGP 700 mn next year
El Masria Group for Real Estate Development is developing three projects next year worth EGP 700 mn, Sales Manager Omar Abdul Hadi said, according to Al Borsa. The projects include tourism and residential developments in October Gardens, the North Coast and Sheikh Zayed City. The company is also considering developing 50 feddans in the new […]
Posted inReal Estate + Housing
Egypt’s real estate market investment returns among best globally -Salman
The Egypt real estate market is growing and its investment returns are among the best in the world, property developers and executives told Khaleej Times. In 9M2017, Egypt’s real estate sector grew by 43% y-o-y, compared to a compound annual growth rate of 31% between 2013 to 2016, former investment minister and ARCO Development chairman […]
Posted inAutomotive + Transportation
Is Egypt considering introducing unified public transport pass?
Egypt is working with South Korean consultancy firms to introduce a unified pass for all means of public transportation, Al Monitor reports. The pass would be issued for a specific period of time, and would expire once that time period elapses. The new system aims to cut costs by reducing the number of tickets that […]
Posted inAutomotive + Transportation
Consultancy contracts for 10 Ramadan-new capital electric train signed
The National Authority for Tunnels signed yesterday a contract with a Khatib & Alami-TPF Spain consortium for consultancy and management services for the electric train linking 10 Ramadan to the new administrative capital, Al Mal reports. The EUR 7.3 mn agreement covers consultancy services on all designs for the train, in addition to coordinating between […]
Posted inBanking + Finance
Al Tawfeek Leasing to begin offering three new financing services next year
Al Tawfeek Leasing Co. (AT Lease) plans to begin offering leasing services for SMEs, structured financing services, and establishing a factoring arm next year, CEO Tarek Fahmy announced on Monday, Al Borsa reports. The company is also set to sign a EGP 100 mn credit line with an unnamed bank within days under the CBE […]
Posted inBanking + Finance
AfreximBank to provide USD 150 mn to Egyptian factoring companies
The African Export-Import Bank (AfreximBank) is planning to provide Egyptian factoring companies with USD 150 mn in funding over the next five years, Managing Director of AfreximBank’s Intra-African Trade Initiative Kanayo Awani tells Daily News Egypt. The funding program, which began this year, will expire in 2021. The bank is currently in talks to provide […]
Posted inEgypt Politics + Economics
House of Representatives approves German loan agreements worth EUR 62 mn
The House of Representatives approved yesterday two German loan agreements worth a combined EUR 62 mn, Ahram Gate reports. The agreements include a EUR 50 mn loan from German development bank KfW for a renewable energy project and to support vocational training. The second funding agreement, worth EUR 12 mn, was signed with German development […]