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Arab Motors will start assembling the Changan V7 by mid 2018,according to Al Mal, with production starting as early as next year.
Author Archives: enterpriseam admin
Posted inBanking + Finance
EIB agrees to lend Banque Misr USD 500 mn
The European Investment Bank (EIB) agreed last week to lend Banque Misr USD 500 mn that will be used for SME loans and financing, Vice President Akef El Maghraby tells Al Borsa. Banque Misr is also expected to sign an MoU for another loan from the China Development Bank this week.
Posted inBanking + Finance
Al Ahli to sell stake in Egyptian Resorts
Al Ahli Capital is offloading its 9% stake in the Egyptian Resorts Company by the end of the year, according to AMAY. CEO Khaled Badawi said a preliminary agreement is in place with a local investor as the company is looking to lock in some profits after a strong bull run in the market. He […]
Posted inEgypt Politics + Economics
PM reforms committee overseeing state IPO program
Prime Minister Sherif Ismail issued a decision last week to reform the ministerial committee overseeing the state’s IPO program, Al Borsa said on Thursday. Among the committee’s responsibilities are setting the schedule for the listing of state-owned companies on the EGX and ensuring that affected government offices are doing the necessary prep work. The committee […]
Posted inEgypt Politics + Economics
Support Egypt Coalition to hold elections for party leadership
The Support Egypt Coalition — the largest political bloc in the House of Representatives — will elect new leadership on 1 October, Youm7 reports. Candidates, including the current leader, Mohamed Elsewedy, began announcing their intentions to run yesterday.
Posted inEgypt Politics + Economics
Former Ikhwan leader dies at 89 from illness
Former Ikhwan Supreme guide Mohamed Mahdi Akef died in a Cairo hospital on Friday after a long illness, the Associated Press reports. Akef, 89, was awaiting retrial in a case that landed him a life sentence. Reuters also has the story.
Posted inNational Security
Egypt receives warship from France
France has delivered the first of four Gowind 2500-class corvettes to Egypt in a ceremony at the Lorient port in Brittany, according to the Middle East Monitor. The ship specializes in hunting and destroying submarines and is part of a wider fleet which includes three ships being built in Alexandria with French support. Defense World […]
Posted inSports
Security approvals granted for fan attendance in club games
Sports Minister Khaled Abdul Aziz suggested football fans could soon be back in the stands for league games after his ministry approvals from the nation’s security services, according to AMAY.
Posted inSports
Egypt to host U-23 football tourney in 2019
Egypt has won its bid to host the Africa U-23 Cup of Nations in 2019, according to King Fut. The top three teams will gain a spot in the 2020 Olympics in Japan and the fourth place team will play a qualifier against an Asian team for the wildcard spot.
Posted inON YOUR WAY OUT
Nadah El Shazly will release her debut album in November, but you can listen to her first track
After a long journey, upcoming Egyptian musician Nadah El Shazly is releasing her debut album, Christian Eede writes for The Quietus. El Shazly, who started out as a member of a Cairo punk band and went on to produce her own electronic music, wrote and produced the six-track collection with help from both local and […]