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Two Chinese companies are looking into establishing industrial complexes in Egypt with combined investments of USD 1.35 bn, Trade and Industry Minister Tarek Kabil said, according to Al Borsa reports. The minister says Shondong Ruyi Technology is looking to invest USD 800 mn into setting up a complex to manufacture textiles and ready-made clothing, while […]
Author Archives: enterpriseam admin
Posted inManufacturing
IDA to tender 2 mn sqm to industrial developers this month
The Industrial Development Authority plans to tender 2 mn sqm in Sadat City to industrial developers this month, Al Borsa reports.
Posted inHealth + Education
Health expenditures in FY2017-18 budget meet constitutional requirement -Maait
The Health Ministry’s annual public jockeying to increase its budget allocation has begun, with Assistant Health Minister Sayed El Shahed telling Al Mal the ministry asked for EGP 61 bn against the EGP 53.7 bn the Finance Ministry says it will provide. Deputy Finance Minister Mohamed Maait maintains that expenditure on healthcare in next fiscal […]
Posted inTourism
Antiquities Ministry to begin final EGP 130 mn phase of Pyramids plateau development
The Antiquities Ministry is planning to begin the final phase of the Giza Pyramids plateau development project, which is expected to cost EGP 130 mn, this month, the plateau’s director-general Ashraf Mohy tells Al Borsa.
Posted inAutomotive + Transportation
The Alliance adds Damietta Port to shipping route
The alliance of shipping lines that withdrew from East Port Said in March due to the hike in fees has agreed to add the Damietta Port to its weekly trade routes, Damietta Port Chief Ayman Saleh said on Thursday, Al Mal reports. Suez Canal Economic Zone Chief Mohab Mamish and Transport Minister Hisham Arafat will […]
Posted inOther Business News of Note
FEP Capital to set up USD 150 mn direct investment fund this year
FEP Capital plans to begin raising this year a USD 150 mn private equity fund, CEO Mahmoud Khalifa tells Al Borsa. The company is eyeing opportunities in the local market after having recently acquired four companies, Khalifa says.
Posted inOther Business News of Note
MM Group to invest EGP 20 mn in raising Masary’s capital
MM Group plans on increasing e-payments subsidiary Masary’s capital by EGP 20 mn during 2017 in two EGP 10 mn transactions, MM Group Chairman Khaled Mahmoud tells Al Borsa.
Posted inLegislation + Policy
House Speaker refers penal code amendments to Legislative Committee
House of Representatives Speaker Ali Abdelaal referred proposed amendments to the Penal Code and Criminal Procedures Act to the House’s Legislative Committee for review on Saturday, Al Ahram reports. The amendments were suggested by MP Mortada Mansour and 65 other representatives.
Posted inON YOUR WAY OUT
CIPE, WB launch app that gives Egyptian entrepreneurs access to finance
The Center for International Private Enterprise (CIPE), with support from the World Bank (WB), has launched an Arabic-language mobile app called Tamweely. Tamweely aims to “connect financiers to small businesses and entrepreneurs in Egypt seeking start-up funding, as well as to provide business education tools and information about the institutional and legal environment for entrepreneurs […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0368 | Sell 18.1376 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Thursday): 12,907 (-0.7%) Turnover: EGP 853.2 mn (40% below the 90-day average) EGX 30 year-to-date: +4.6% THE MARKET ON THURSDAY: The EGX30 ended […]