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The Military Production Ministry signed an agreement with China's Dongfang Electric on Friday that will see both sides cooperate on manufacturing power transmission equipment and smart card-operated electricity meters, Al Mal reported.
Author Archives: enterpriseam admin
Posted inBanking + Finance
Rooya Group signs USD 2.25 bn loan agreement with AAIB, NBE
Rooya Group signed a one-year USD 2.25 bn syndicated loan agreement with the Arab African International Bank (AAIB) and the National Bank of Egypt (NBE) to fund projects in Ain Sokhna and the North Coast, among others, Al Borsa reports. AAIB contributed USD 1.85 bn of the loan, while NBE contributed the remaining USD 400 […]
Posted inBanking + Finance
Al Watany Bank of Egypt signs USD 300 mn loan agreement with SUMED
Al Watany Bank of Egypt announced on Thursday it has signed a USD 300 mn loan agreement with the Arab Petroleum Pipelines Company (SUMED) to fund the first phase of the company’s expansion in Ain Sokhna, Al Mal reports. The loan will be disbursed over two years, after which SUMED will have six years to […]
Posted inOther Business News of Note
Hussein Salem acquitted in natural gas export to Israel case
A Cairo court acquitted former shareholder in East Mediterranean Gas Company Hussein Salem of charges of squandering public funds by exporting underpriced gas to Israel, Al Borsa reports.
Posted inEgypt Politics + Economics
Tunis village pottery workshops close to protest government’s land reclamation
Pottery workshops in Fayoum’s Tunis Village are closing down in solidarity with villagers who claim the government has unjustly seized their property as part of its nationwide efforts to reclaim state land, Ahram Online reports. Village residents claim they legally purchased the lands they live on and that the government has either delayed or refused […]
Posted inON YOUR WAY OUT
“Marriott Cell” to be made into a movie?
“Marriott Cell” to be made into a movie? Says former Al Jazeera English Cairo bureau chief Mohamed Fahmy: “He’s working to get his lawyer, Amal Clooney, and actor-husband George Clooney involved, saying an ‘award-winning Hollywood director’ has been recruited for the film. ‘[It focuses on] the personal, untold stories between my colleagues and I in […]
Posted inON YOUR WAY OUT
Part of 26th of July Street closed for a year for metro construction
The stretch of 26 July Street between Talaat Harb and Ramsis in Downtown Cairo will be closed to all traffic for a year, Al Masry Al Youm reports. The street is closed for work on Cairo Metro Line 3 and is expected to reopen by 17 May 2018.
Posted inON YOUR WAY OUT
Court upholds listing Morsi, 34 Ikhwan leaders as terrorists
US declares ABM leader a terrorist: The US State Department issued a statement on Friday announcing it has designated Ansar Bayt Al Maqdis leader Muhammad al-Isawi and senior Hezbollah leader Hashem Safieddine as Specially Designated Global Terrorists.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0394 | Sell 18.1424 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Thursday): 12,952 (-0.9%) Turnover: EGP 875.6 mn (40% below the 90-day average) EGX 30 year-to-date: +4.9% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
21 May (Sunday): Central Bank of Egypt’s Monetary Policy Committee Meeting. 22-23 May (Monday-Tuesday): North Africa Mobile Network Optimisation Conference, Cairo. 27 May (Saturday): First day of Ramadan (TBC). 07-09 June (Wednesday-Friday): 19th Annual Africa Energy Forum, Copenhagen, Denmark. 26-28 June (Monday-Wednesday): Eid Al-Fitr (TBC). 30 June (Friday): 30 June, national holiday. 15-19 July (Saturday-Wednesday): […]