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The Suez Canal Authority is offering a 40% break on transit fees for laden dry bulk ships heading from South African ports to Mediterranean ports and a 75% break for ships heading from East and South Australia to ports in in northwest Europe, Al Borsa reports. The authority said on Thursday the new rates, good […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Transport Ministry expected to sign contract with Bombardier Canada to conduct studies for Line 6
The Transport Ministry is expected to sign an agreement with Canada’s Bombardier Consulting by early May to conduct studies for Cairo Metro’s Line 6, a top government official tells Al Mal.
Posted inBanking + Finance
SCZone signs MoUs with Arab Investment Bank, Export Development Bank
The Suez Canal Economic Zone signed an MoU with the Arab Investment Bank to provide funding for SMEs and complementary industries, Al Borsa reports. The SCZone also signed an agreement with the Export Development Bank of Egypt on Thursday to support projects in the zone, according to Al Mal.
Posted inOther Business News of Note
RVR concession agreement termination gets stay until 19 May -QH
Qalaa Holdings-owned Rift Valley Railways (RVR) said it obtained a court decision forcing a stay on the decision to terminate its concession rights to a court date of 19 May 2017, an EGX statement read. Qalaa Holdings says RVR is already classified as a non-current asset held for sale and company is in talks to […]
Posted inLegislation + Policy
House Transport Committee to introduce legislation to regulate tuk-tuks
The House of Representatives Transport Committee is days away from submitting a draft law that would regulate and license tuk-tuks, MP Mohammed Zain El Din says, according to Al Mal. The draft legislation will set a minimum driving age of 18 years and force applicants to take a driving test.
Posted inEgypt Politics + Economics
Trade Ministry tenders first batch of free land in Upper Egypt
The Trade Ministry has tendered free land parcels in a number of Upper Egyptian governorates, fulfilling one of the 17 pro-investment policies adopted by the Supreme Investment Council last year, Al Borsa reports. Trade Minister Tarek Kabil allocated land to 22 investors in Sohag and Asyut for investments in food production, chemicals, engineering, and building […]
Posted inNational Security
Interior Ministry kills a leader of the Hasm group
Interior Ministry forces killed a leader of the Ikhwan-affiliated Hasm terrorist group in Damietta on Friday, according to a statement picked up by Al Masry Al Youm.
Posted inSports
Egypt ranked 19 in Fifa’s global football rankings
Egypt has risen to 19th best national football squad in Fifa’s rankings and remains top-ranked team in Africa, Reuters reports. Brazil has regained the top spot globally after seven years.
Posted inON YOUR WAY OUT
Egypt’s independent live music facing uncertain future
Egypt’s live music scene faces an uncertain future, Heba El Sherif writes in The National, with challenges including corruption, the high cost of rental equipment, and lack of sufficient, sustainable performance spaces.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.9856 | Sell 18.0885 EGP / USD at CIB: Buy 18.00 | Sell 18.10 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Thursday): 13,099 (-1.44%) Turnover: EGP 852.3 mn (26% above the 90-day average) EGX 30 year-to-date: +6.1% THE MARKET ON THURSDAY: The EGX30 ended […]