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The Egyptian Electricity Transmission Company has received EGP 3 bn from the EGP 37.4 bn loan it signed for with a local banking consortium in July to upgrade the national grid, unnamed ministry officials tell Al Borsa. The amount will be used to pay contractors and suppliers, including Elsewedy Electric, China’s State Grid, and Saudi’s […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Suez Canal revenues up 2.2%
Suez Canal revenues increased by 2.2% y-o-y during 9M2017, Suez Canal Authority chief Mohab Mamish told the press yesterday, Al Shorouk reports. Mamish also added that traffic through the canal is up 2.5% y-o-y. The exact figures were not disclosed.
Posted inSports
Egyptian Premier League renamed
The Egyptian Premier League picked up a new sponsor in Telecom Egypt and will now be known as the Telecom Egypt League. Doesn’t quite have the same ring to it, if you will allow us the pun. Al Masry Al Youm has the story here.
Posted inON YOUR WAY OUT
US rock legend Tom Petty dies
US rock legend Tom Petty died yesterday just after we hit “send” on Monday’s edition at the age of 66 following a cardiac arrest, Reuters reports. The man gave us such great riff-laden tracks such as American Girl and Free Fallin’.
Posted inON YOUR WAY OUT
On this day: 4 October
ON THIS DAY- On this day in 1957, the Soviet Union launched the first artificial Earth satellite, Sputnik 1, to space. Sputnik 1 was the first man-made object ever to leave the Earth's atmosphere. Over a century earlier, the Orient Express departed on its first official journey from Paris to Istanbul in 1883. More recently, […]
Posted inThe Market Yesterday
Powered by EGP / USD CBE market average: Buy 17.6012 | Sell 17.7012 EGP / USD at CIB: Buy 17.60 | Sell 17.70 EGP / USD at NBE: Buy 17.60 | Sell 17.70 EGX30 (Tuesday): 13,931 (-0.5%) Turnover: EGP 1.2 bn (32% above the 90-day average) EGX 30 year-to-date: +12.8% THE MARKET ON TUESDAY: The […]
Posted inCALENDAR
03-05 October (Tuesday-Thursday): J.P. Morgan’s Credit and Equities Emerging Markets Conference, London, UK. 06 October (Friday): Armed Forces Day, national holiday. 11-12 October (Wednesday-Thursday): 2030 Mega Projects Conference, Nefertiti Hall, Cairo International Convention Center, Cairo. 11-13 October (Wednesday-Friday): Middle East and Africa Rail Show, Cairo International Convention Center, Cairo. 15-16 October (Sunday-Monday): The Marketing Kingdom […]
Posted inWhat We're Tracking Today
What we’re tracking on 03 October 2017
Thursday will be a day off after all (for most of us): The central bank announced yesterday afternoon that all banks will be given Thursday off in observance of Armed Forces Day, giving us a nice long weekend. The government had earlier declared Thursday a holiday for government employees and staff at state-owned companies. The […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
This again? Russia is waiting for Egypt to review and sign an airport security protocol before it lifts the ban on flights to Cairo, Russian Deputy Prime Minister Arkady Dvorkovich said yesterday,according to Sputnik Arabic. Transport Minister Maksim Sokolov had said last month that Egypt was ready to sign the agreement and that the decision […]