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Suez Canal Economic Zone head Mohab Mamish and Transport Minister Hisham Arafat headed to Germany yesterday in hopes of winning back the five shipping lines that suspended their operations at the East Port Said Port earlier this year, Al Borsa reports. Hapag-Lloyd, K Line, Yang Ming Marine Transport, Mitsui O.S.K. Lines, and the NYK Group […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Japanese company studying potential factory to manufacture greenhouse components in Egypt
Japan’s Sanyo is looking into setting up a factory to manufacture components for greenhouses in Egypt, Youm7 reports. A delegation from the Sanyo met with five Egyptian companies to discuss the potential for joint production projects and transferring Japanese know-how in greenhouse component production to the Egyptian market, Egyptian Businessmen’s Association managing director Mohamed Youssef […]
Posted inOther Business News of Note
Chint Group to establish USD 25 mn electricity meter plant in Egypt
China’s Chint Group will establish a USD 25 mn plant to manufacture smart electricity meters in Egypt, Egypt Marketing Manager Hisham Salah tells Al Shorouk. The plant should be coming online during 2018. The Egyptian government has plans to change all electricity meters in Egypt to the smart system over the next few years.
Posted inLegislation + Policy
Justice Ministry to amend economic court legislation to facilitate dispute resolution proceedings
The Justice Ministry wants to make it easier to resolve business disputes and will enshrine its thinking in amendments to legislation governing economic courts, sources tell Al Borsa. The ministry will be calling in experts and judges from the Cairo Economic Court to help draft the amendments, which have become necessary in light of the […]
Posted inEgypt Politics + Economics
17 held in LGBTQ crackdown ordered released by court
Seventeen people were ordered released by a Cairo court yesterday after being charged with inciting debauchery and homosexuality, according to Reuters. They had been arrested in the LGBTQ crackdown that followed the Mashrou’ Leila concert at the end of September and sentenced to three years jail, subject to appeal if they couldn’t pay a EGP […]
Posted inEgypt Politics + Economics
Court upholds death sentences for seven alleged Daesh affiliates
An Egyptian court upheld death sentences for seven defendants accused of beheading 21 mostly Egyptian Christians in Libya, AFP reports. 10 people were also given life sentences while three others received 15-year prison sentences. The defendants, who had been sentenced in absentia in September, are believed to be members of Daesh.
Posted inEgypt Politics + Economics
Lawyer referred to trial for harassment comments
Prosecutors referred scumbag lawyer Nabih Al Wahsh to a misdemeanor court on Sunday on charges of disrupting the civil peace and harming the public interest by inciting [redacted] harassment, according to Ahram Online. His case, with a trial date now set for 2 December, revolves around statements he made on a talk show on Al […]
Posted inON YOUR WAY OUT
On this day: 27 November
ON THIS DAY- On this day in 1895, the will drawn up by Swedish chemist Alfred Bernhard Nobel established the Nobel prizes. 800 years earlier, in 1095, Pope Urban II ordered the first Crusade, by calling all Christians in Europe to war against Muslims in order to reclaim the Holy Land, in what The History […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.6407 | Sell 17.7404 EGP / USD at CIB: Buy 17.63 | Sell 17.73 EGP / USD at NBE: Buy 17.61 | Sell 17.71 EGX30 (Sunday): 14,223 (+0.8%) Turnover: EGP 833 mn (16% below the 90-day average) EGX 30 year-to-date: +15.2% THE MARKET ON SUNDAY: The EGX30 closed […]
Posted inCALENDAR
01 December (Friday): Prophet’s Birthday, national holiday. 01-03 December (Friday-Sunday): RiseUp Summit, Downtown Cairo. 03-05 December (Sunday-Tuesday): Solar-Tec, Cairo International Exhibition & Convention Center. 03-05 December (Sunday-Tuesday): Electrix, Cairo International Exhibition & Convention Center. 03-06 December (Sunday-Wednesday): The fourth e-payment and Innovative Financial Inclusion Expo & Forum (PAFIX), Egypt Expo Center, New Cairo. 05 December […]