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MM Group for Industry and International Trade (MTI) is set to invest up to EGP 240 mn — or some EGP 40 mn more than originally planned — to build a new Jaguar Land Rover service center in New Cairo as well as a Bentley center, Chairman Khaled Mahmoud tells Al Mal. The Bentley center […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Court rejects Bassem Youssef’s appeal against EGP 100 mn fine to CBC
A Cairo court rejected talk show host Bassem Youssef’s appeal to reverse a 2013 verdict ordering him to pay a EGP 100 mn fine to satellite network CBC, Ahram Gate reports. The Cairo Regional Center For International Commercial Arbitration had ruled in CBC’s favor back in 2013, ordering Youssef to compensate the company for contract […]
Posted inOther Business News of Note
NileSat resumes broadcasting Al Hayat TV channels following debt settlement
NileSat resumed broadcasting Al Hayat TV channels yesterday after the network clear its debt to the satellite company, Al Mal reports, citing an unnamed source from Al Hayat. Al Hayat had also owed EGP 20 mn to the Egyptian Media Production City (EMPC), pushing the EMPC to cut off services provided to the network, including […]
Posted inEgypt Politics + Economics
Sahar Nasr talks upcoming investments during youth conference address
The new administrative capital should have attracted a cumulative USD 6.7 bn in foreign direct investment by its fifth year of development, Investment Minister Sahar Nasr said on Tuesday, according to Ahram Gate. Speaking on the second day of the national youth conference in Alexandria, Nasr said that the Housing Ministry is currently in talks […]
Posted inEgypt Politics + Economics
Government to pay cash subsidies to the disabled for first time -Ghada Wali
The Egyptian government will begin paying cash subsidies out to disabled citizens for the first time under the Takaful and Karama subsidy programs, Social Solidarity Minister Ghada Wali announced on Tuesday, according to AMAY.
Posted inNational Security
Terrorists in Egypt are qualitatively shifting tactics after attacking elite battalion
Terrorists in Egypt appear to be “shifting their tactics” by taking on higher-risk attacks, Amr Mostafa writes for Al-Monitor, saying “militants might be adopting a new pattern of qualitative operations.” Mostafa says the escalation came in early July as the terrorists targeted an elite Egyptian commando force outpost in southern Rafah, suggesting “that terrorist operations […]
Posted inON YOUR WAY OUT
Is bike sharing coming to Cairo?
Is bike sharing coming to Cairo? The UN Human Settlement Programme signed an agreement with the Cairo governorate to introduce a bike-sharing scheme in the nation’s capital, Egypt Independent reports. The Drosos Foundation is providing USD 1.5 mn in financing for the project. The project, named Bicicletta, will introduce 300 bicycles and create several “bike-sharing […]
Posted inON YOUR WAY OUT
17 Uyghur students released
Seventeen Chinese Uyghur students attending Al Azhar have been released, according to Daily News Egypt. There had been questions about the validity of their visas. Previous reports had said as many as 500 Muslim Uyghur students had been arrested in Egypt at the behest of Chinese authorities.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.8440 | Sell 17.9438 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.80 | Sell 17.90 EGX30 (Tuesday): 13,740 (-0.1%) Turnover: EGP 683 mn (32% below the 90-day average) EGX 30 year-to-date: +11.3% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
26 July (Wednesday): “The implementation of the New Urban Agenda in Egypt” United Nations Information Center and UN Habitat seminar, Grand Nile Tower Hotel, Garden City, Cairo. 03-05 August (Thursday-Saturday): Watrex Expo Middle East, Cairo International Exhibition & Convention Center. 17 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 26 […]