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Rolan Construction is planning to tender two projects worth a combined EGP 1.15 bn in 2018, the company’s Managing Director Fathy El Sayed said, Al Masry Al Youm reports. The plans include a EGP 1 bn project in Nasr City, and a EGP 150 mn project in Al Sharabeyah.
Author Archives: enterpriseam admin
Posted inTourism
Charter flight to arrive from Uzbekistan to Sharm El Sheikh Sunday
The first tourist flight from Uzbekistan lands in Sharm El Sheikh this morning,Al Shorouk reports. The charter flight will be carrying 188 passengers including 22 representatives of tour operators and travel agencies.
Posted inTourism
German tourist arrivals expected to reach 1 mn by end of 2018
German tourist arrivals are expected to reach 1 mn visitors by year’s end, which would be around 12-13% less than 2010 levels, Tourism Promotion Authority head Hisham El Demery said, Al Shorouk reports. German tourism was up 91% y-o-y in 9M2017, according to El Demery. A government official had announced last week that European tourist […]
Posted inAutomotive + Transportation
Industry worse off without automotive directive -Al Borsa poll
It would appear that the majority of the auto industry believes the industry is worse off without the Automotive Directive, according to a poll of some 40 industry insiders conducted by Al Borsa over the weekend. 60% of respondents believed delays in issuing the Automotive Directive, which grants incentives to assemblers to move up the […]
Posted inOther Business News of Note
IDA revokes 600 land plots from investors
The Industrial Development Authority (IDA) has revoked 600 land plots from investors who have not broken ground on their planned projects, despite receiving the land over a year ago, an IDA source tells Youm7. The authority had issued several warnings before making a move.
Posted inOther Business News of Note
Unionaire looking to increase its capital, boost sales this year
Unionaire is looking to increase its capital to EGP 1 bn this year, up 36% from EGP 735 mn at the end of 2016, Al Masry Al Youm reports. The capital increase is part of the company’s plans to reach EGP 6 bn in sales by the end of 2017, up from EGP 4.5 bn […]
Posted inLegislation + Policy
Franchise industry bill to be ready for the House in two months
A bill governing the franchise industry in Egypt currently being drafted by the Federation of Egyptian Industries’ Investment Committee will be ready in a few months, committee member Ayman El Nagouly tells Youm7. The FEI plans to then introduce the bill to the House of Representatives, he added. The law is meant to be part […]
Posted inNational Security
Navy simulates response against attacks on oil rigs
President Abdel Fattah El Sisi observed tactical naval drills on Thursday that featured a number of newly purchased vessels, Ahram Gate reports. The drills included manoeuvers simulating defending oil and gas rigs against attacks.
Posted inON YOUR WAY OUT
On this day: 22 October
ON THIS DAY- On this day in 1962, the Cuban missile crisis began after US President John F. Kennedy announced that US spy planes discovered Soviet missile bases in Cuba. Kennedy said America would not stop short of military action to end what he described as a “clandestine, reckless, and provocative threat to world peace.” […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.5969 | Sell 17.6968 EGP / USD at CIB: Buy 17.58 | Sell 17.68 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Thursday): 13,741 (+0.9%) Turnover: EGP 1.5 bn (58% above the 90-day average) EGX 30 year-to-date: +11.1% THE MARKET ON THURSDAY: The […]