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The Housing Ministry is planning to request new loans from the World Bank to complete its ongoing housing projects, Al Borsa reports. Housing Minister Mostafa Madbouly is expected to discuss the ministry’s progress on the projects with World Bank officials at the Spring Meetings on 21-23 April. No details were provided on the size of […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Transportation Ministry to purchase 32 air-conditioned cars for Metro Line 1
The Transportation Ministry is planning to purchase 32 air-conditioned train cars for Cairo Metro Line 1 worth EGP 12.5 bn, Transportation Minister Hisham Arafat tells Youm7.
Posted inBanking + Finance
Afreximbank seeking a USD-denominated bond issue
Cairo-based African Export-Import Bank (Afreximbank) is requesting a USD-denominated bond issue, sources told Reuters. The issue would follow the launch of a USD 700 mn syndicated loan. Afreximbank “is struggling to meet demand for financing from African economies hit by a slump in international commodity prices, Afreximbank's executive vice president George Elombi told Reuters last […]
Posted inLegislation + Policy
House looking to reduce maximum pretrial detention period to six months
Spurred into action by Aya Hijazi’s abrupt acquittal after spending three years in pretrial detention, the House Human Rights Committee is drafting new legislation to cut down the maximum pretrial detention period to six months from two years, Al Shorouk reports.
Posted inNational Security
Group claims Egypt is building a military base in Eritrea
The Red Sea Afar Democratic Organization (RSADO), an Eritrean opposition group, claimed Egypt has the green light to build a military base in Eritrea, Sudan Tribune reports. Sources say Eritrea is allowing Egypt to build “a military base in Nora locality at the Dahlak Island for an indefinite period of time,” with 20k-30k naval forces […]
Posted inNational Security
Russian delegation discuss delivering communication systems to Egypt’s Mistrals
A Russian delegation has reportedly flown to Egypt to negotiate the potential sale of communications and control equipment for the Mistral-class helicopter carriers, TASS reports. Since the carriers were initially designed for the Russian navy, it is likely that Egypt and Russia will reach an agreement, Russian military expert Dmitry Drozdenko tells Sputnik. TASS adds […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0303 | Sell 18.1332 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Tuesday): 13,027 (+0.5%) Turnover: EGP 992 mn (13% below the 90-day average) EGX 30 year-to-date: +5.5% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
20 April (Thursday): Closing date for the Egyptian Mineral Resources Authority bid round number 1 for 2017 for gold and associated minerals. 22-24 April (Wednesday-Friday): Food Africa, Cairo International Convention Center, Cairo. 24-25 April (Monday-Tuesday): Renaissance Capital’s Egypt Investor Conference, Cape Town, South Africa. 25 April (Tuesday): Sinai Liberation Day, national holiday. 25-26 April (Tuesday-Wednesday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 18 April 2017
We hope you survived the fiseekh and managed to rest up over the (blessedly uneventful) long weekend. We’re all going to need the energy: It’s a short work week and we have two more holidays coming up (Sinai Liberation Day on 25 April and Labor Day on 1 May), but we’re also entering the pre-Ramadan […]