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SODIC is expecting to receive the land for its 655-feddan New Heliopolis project and begin work by November of this year in partnership with Heliopolis Housing, according to Amwal Al Ghad. The first phase of the project is scheduled for completion early next year, according to Heliopolis Housing’s Managing Director for Technical and Administrative Affairs, […]
Author Archives: enterpriseam admin
Posted inTourism
Tourism representatives call for sacking Minister Yehia Rashed
A number of tourism sector representatives called for Tourism Minister Yehia Rashed to be sacked at a meeting on Monday, according to a statement reported by Al Mal. They say Rashed’s policies are the reason why tourism is in poor condition, without explaining further. They also criticize the sector’s inability to create jobs and say […]
Posted inTourism
Air Cairo presses on with expansion plans despite EgyptAir slump
EgyptAir subsidiary Air Cairo is pressing ahead with “ambitious plans to nearly triple in size” despite the headwinds its mother company is facing, says Arabian Aerospace. The company’s expansion strategy is counting predominantly on a recovery in demand from Europe. While that may be a “high-risk” strategy, says Air Cairo Chairman and CEO Yasser El […]
Posted inTourism
EgyptAir, Kenya Airways sign codeshare agreement
Kenya Airways signed a codeshare agreement with EgyptAir on the Nairobi-Cairo route that will see the Egyptian carrier placing Kenya Airways’ flight code on its four flights between the two countries beginning 1 June, Xinhua reports. The agreement “will allow [Kenya Airways] to resume direct market access between Nairobi and Cairo since its own operations […]
Posted inAutomotive + Transportation
Nissan, Chevrolet, Hyundai continue to top sales charts in Egypt -AMIC
Nissan passenger cars topped sales in the market in the first four months of 2017 with a 21% market share (up from 13.1% in the same period in 2016) despite total market sales plummeting to around 36k units from around 66k last year. Chevrolet was a close second with a 20.5% market share, while Hyundai came […]
Posted inLegislation + Policy
Amended Companies Act final draft to be discussed in Cabinet next meeting
The government is preparing to discuss the final draft of the amended Companies Act at the next cabinet meeting, Al Masry Al Youm reports. The draft is expected to be delivered to the Cabinet for a discussion in the next meeting, according to an official release from the Investment and International Cooperation Ministry. Minister Sahar […]
Posted inEgypt Politics + Economics
CBE repays USD 500 mn owed to Saudi, says all Qatari deposits already repaid
The central bank says it repaid USD 500 mn in bonds owed to the Saudi Fund for Development, sources told Al Mal. The funds arrived at the central bank in 2012 and the amount was repaid at end of last week with 5% interest, sources say. Egypt owes nothing to Qatar, government sources tell Al […]
Posted inON YOUR WAY OUT
Covet the world’s coolest offices
In the mood to redecorate your office? Have a few mn to spare? Check out Inc’s World’s 10 Coolest Offices 2017. Can’t get enough? The magazine’s 2016 feature is online, too.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0362 | Sell 18.1391 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Monday): 13,520 (+0.2%) Turnover: EGP 1.0 bn (40% below the 90-day average) EGX 30 year-to-date: +9.5% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
26 May-23 June (Friday-Friday): Window for firms to submit expressions of interest to the European Bank for Reconstruction and Development for consulting on Egypt’s oil and gas sector reform, London, UK. 06 June (Tuesday): Egyptian Private Equity Association’s annual Sohour, Four Seasons Hotel Nile Plaza, Cairo. 07-09 June (Wednesday-Friday): 19th Annual Africa Energy Forum, Copenhagen, […]