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Telecom Egypt (TE) is reportedly in talks to have Nokia and Huawei provide key technology for its 4G network, Al Borsa said on Wednesday. TE has reached preliminary agreements with both companies over the construction of cell towers in Cairo and Alexandria, sources tell the newspaper.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Nissan, Chevrolet top car sales in March
Nissan dominated passenger sales in March, securing a 22% market share in Egypt with 2,302 units sold, according to the Automotive Industry Information Council (AMIC). Chevrolet sales came in second place with an 18% market share, followed by Hyundai at 16%, Al Borsa reports.
Posted inOther Business News of Note
Le Marché on schedule to run between 11-14 May
Furniture expo Le Marché is set to take place as scheduled between 11-14 May, organizer Epic’s General Manager Ahmed Tarek tells Al Borsa, dismissing rumors that the expo was postponed or canceled. The expo has been postponed twice since December by the Interior Ministry.
Posted inOther Business News of Note
Cairo judge being investigated for murder
Cairo judge being investigated for murder: Authorities are reportedly investigating a Cairo judge for allegedly shooting and killing a low-ranking police recruit in the Nasr City area earlier this week, Al Shorouk reports. Unnamed security officials tell the newspaper that the judge in question turned himself in. The judge claims to have shot the recruit […]
Posted inOther Business News of Note
Arab Financial Investment Company establishes export arm with EGP 100 mn capital
The Arab Financial Investment Company is in the process of establishing a new trade and exports arm with a capital investment of around EGP 100 mn to capitalize on the benefits currently enjoyed by exporters, Managing Director Nagui Hady said on Wednesday, Al Mal reports.
Posted inOther Business News of Note
Illicit Gains Authority fines Youssef Boutros Ghali EGP 10 mn in graft case
The Illicit Gains Authority fined former Finance Minister Youssef Boutros Ghali EGP 10 mn for having allegedly exploited his position to build a home inside the Lake Qarun protectorate, Al Shorouk reports.
Posted inNational Security
No plans for base in Eritrea, source says
An Egyptian military sources denied reports that Egypt is planning to establish a military base in Eritrea, according to Anadolu Agency. "Egypt does not plan to establish any bases overseas," the source said, and Eritrea has repeatedly denied reports about allowing foreign countries to establish military bases on its territory. The reports were first circulated […]
Posted inON YOUR WAY OUT
Egyptian short Wintry Spring wins best foreign film at Ridgewood Guild International Film Festival
Mohamed Kamel’s Egyptian short film Wintry Spring (Rabie Chetwy) won the best foreign film award at the Ridgewood Guild International Film Festival, according to Ahram Online. “Since the film's release in 2015 through a world premiere at the Clermont-Ferrand International Short Film Festival, the film has been circulated and screened in over 130 film festivals […]
Posted inON YOUR WAY OUT
Egyptian artist Sherin Guirguis: My Place is the Placeless
Los Angeles-based Egyptian artist Sherin Guirguis is holding an exhibition titled My Place is the Placeless as part of her Artist Lab Residency & Exhibition. The exhibition will be held at the 18th Street Arts Center in Santa Monica, California. In it, “she will create an environment for investigations into the intersections of art and […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0335 | Sell 18.1365 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Wednesday): 12,604 (+0.6%) Turnover: EGP 614 mn (42% below the 90-day average) EGX30 year-to-date: +2.1% THE MARKET ON WEDNESDAY: The EG\X30 ended Wednesday’s […]