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Hyde Park Properties for development signed a EGP 1.5 bn agreement with five local constructions companies yesterday for its new project in New Cairo, Amwal El Ghad reports. The five firms are Hassan Allam, Misr Engineering Development Company, Modern Construction Company, Hirmas, and Concrete Plus for Engineering and Construction. The firm has launched a EGP […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Egypt’s ICT, outsourcing sector receiving top praises from global industry reports
Egypt’s ICT and outsourcing industry has been receiving plenty of praise from international trade and consulting houses, according to a report published by the Information Technology Industry Development Agency (ITIDA). Egypt’s ICT exports rose to USD 1.78 bn at the end of FY2016-17, driven by the 50% drop in the cost of IT services following […]
Posted inTelecoms + ICT
Lenovo, Sky for Trade & Distribution sign Motorola distribution agreement
Lenovo signed an agreement with Sky for Trade & Distribution that will see the latter operate as an official retailer for Motorola phones in Egypt, Al Mal reports.
Posted inAutomotive + Transportation
CMA CGM adds West Port Said Port to Asia-Europe shipping line
The CMA CGM Group agreed with the Port Said Container and Cargo Handling Company to add the West Port Said Port to its Asia-Europe service, Al Mal reports. The port hosted the first call from CMA CGM’s service in July. CMA CGM is looking to operate an annual 310 trips to West Port Said and […]
Posted inAutomotive + Transportation
ICAO conference set to start in Sharm
The International Civil Aviation Organization (ICAO) is hosting an aviation security-centric conference in Sharm El Sheikh on 22-24 August, Al Masry Al Youm reports. With around 400 officials expected in attendance, the conference signals how far the government has moved from the chatter about inept airport security. ICAO President Olumuyiwa Benard Aliu himself praised Egypt’s […]
Posted inBanking + Finance
Banque Misr in negotiations for loan
Banque Misr has entered into talks with international lenders for a USD 500-700 mn facility, according to Al Borsa. The bank had previously stated it was interested sourcing liquidity from foreign sources.
Posted inLegislation + Policy
Planning Ministry drafts a...Planning Act?
The Planning Ministry has finished drafting a Unified Planning Act, Deputy Minister Nihal El Megharbel said on Sunday, according to Al Masry Al Youm. The bill, which should be going to the House of Representatives before the end of the year, sets a framework for the state to regulate the planning and execution of national […]
Posted inEgypt Politics + Economics
Misr Spinning and Weaving reaches agreement to end strike
Misr Spinning and Weaving reached a temporary settlement with striking workers to end a 15 day sit-in, according to Al Borsa. Strikes across factories in the area have cost over EGP 60 mn. The Textile Workers Union is going to sit down for further talks to come to a more comprehensive solution.
Posted inNational Security
Egypt, Sudan defense ministers discuss regional security
Defense Minister Sedki Sobhi discussed regional security and cooperation with his Sudanese counterpart Awad Ouf in Cairo on Sunday, Daily News Egypt reports.
Posted inSports
Qatari architect designs World Cup stadium to resemble traditional Arabian cap
A Qatari architect has designed the stadium that will host the 2022 World Cup quarter final match to look like a traditional Arabian cap, known as a “gahfiya,” Reuters reports. The design, as imagined in the graphic illustration above, is a “symbolic design” that is meant to serve as a tribute to Arab unity, according […]