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The Informal Settlement Development Fund (ISDF) is allocating EGP 1.3 bn to compensating Maspero Triangle households, Al Mal reports. More than 4,500 families will be relocated as part of development plan for the area. ISDF executive director Khaled Seddik says 435 families received financial compensation so far, 341 opted to get housing in the Asmarat […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Karma begins implementation of two projects in New Cairo
Karma Real Estate began work on two EGP 160 mn projects in the New Cairo, Chairman Ahmed Mostafa tells AMAY. The company is targeting sales of EGP 60 mn by the end of the year.
Posted inTourism
Egyptian-Czech discovers parts of Ramses II temple
An Egyptian-Czech archaeological mission discovered parts of a temple to King Ramses II during excavation work in Abusir necropolis, Mohamed Megahed, deputy to the mission director, told Ahram Online.
Posted inTourism
JWT preparing tourism promotional campaign during Egypt’s World Cup matches
JWT is preparing a tourism promotion campaign for Egypt during the FIFA World Cup 2018 in Russia, said Reham El Sawy, CEO of JWT subsidiary Mindshare. She tells Al Borsa that the company is awaiting the group stage draw to launch the campaign during Egypt’s matches at the tournament.
Posted inBanking + Finance
SAIB in talks with EBRD for USD 20-30 mn loan
SAIB Bank is currently in talks with the European Bank for Reconstruction and Development for a USD 20-30 mn loan for SME financing, senior bank officials tell Al Borsa. SAIB had recently signed a USD 40 mn agreement with the China Development Bank for SME funding.
Posted inOther Business News of Note
Trade Ministry requires manufacturers, importers of 10 goods including furniture, toys and eyeglass lenses to comply with Egyptian quality standards
Trade and Industry Minister Tarek Kabil issued a decision yesterday requiring manufacturers and importers of 10 goods and commodities, including furniture, children’s toys, and eyeglass lenses, to comply with Egyptian quality standards, Al Shorouk reports. Manufacturers and importers have been granted a six-month grace period to comply with the decision.
Posted inEgypt Politics + Economics
Public sector labor force shrank 13% y-o-y in FY2016-17 -CAPMAS
The number of employees in the public sector decreased 13% y-o-y in FY2016-17 to reach 5 mn people, down from 5.8 mn during the previous year, according to numbers from state census bureau CAPMAS cited by Al Masry Al Youm. Local administration positions accounted for the lion’s share of the public sector’s labor force at […]
Posted inEgypt Politics + Economics
More voices back El Sisi in upcoming presidential race
The House of Representatives’ majority bloc, the Support Egypt Coalition, plans to launch a campaign urging President Abdel Fattah El Sisi to run in the 2018 elections, Daily News Egypt reports, citing state media. This comes one day after news reports said many House representatives and celebrities had signed another petition backing El Sisi, who […]
Posted inEgypt Politics + Economics
Protest-related cases to be tried in civilian courts instead of military courts
The Constitutional Court issued a ruling on Saturday that places protest-related cases under the jurisdiction of civilian courts instead of military courts, Ahram Online reports. The ruling follows a judicial dispute over which court would judge six cases of illegal protests in Beni Suef. It is unclear if this ruling effectively sets aside sentences handed […]
Posted inEgypt Politics + Economics
Ahmed Douma retrial appeal accepted
The Court of Cassation accepted the appeal of activist Ahmed Douma last Thursday, ordering a retrial of his 2011 case on charges of illegal protesting, possession of weapons, assaulting security personnel and attacking government buildings, the AP reports.