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A debate is currently being waged about the private sector’s role in the New Administrative Capital’s development, as the government turns to local developers over foreign companies. A lack of transparency in tendering land to developers on the New Administrative Capital is driving away foreign private sector companies interested in taking part, writes Hossam Abougabal […]
Author Archives: enterpriseam admin
Posted inTelecoms + ICT
Cars and spare parts prices will see a decline in around two months
Cars and spare parts prices will see a decline in around two months on the back of a reduced USD customs exchange rate to EGP 16, Confederation of Egyptian European Business Associations (CEEBO) head Alaa Ezz tells Al Masry Al Youm. He expects prices to fall 11%, proportionate to the drop in the exchange rate.
Posted inAutomotive + Transportation
The politics behind transportation reform in Egypt
While transportation is a popular “apolitical” avenue for international development “the impact is negligible in the end...development is done in a piecemeal and fractured way,”the head of Cairobserver Mohamed El Shahed tells CityLab’s Miriam Berger. The emphasis is on building big, extravagant new cities in the desert and wide roads and highways—all of which bring […]
Posted inAutomotive + Transportation
Transport Minister looks to expand Cairo Metro Line 2
Newly-appointed Transport Minister Hisham Arafat is looking into expanding Cairo Metro Line 2 to reach Qalyub, and has requested that the railway authority renew its feasibility studies on the extension, Al Ahram reports. The move is part of a policy review he is taking, which includes plans to expand cargo transport by railway or by […]
Posted inBanking + Finance
Banks begin reducing rates on high-yield CDs
A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. Only National Bank of Egypt and Banque Misr have kept their products’ interest rates at 20%, with sources from both banks denying intentions […]
Posted inOther Business News of Note
Retailers to respond to EGP appreciation with promotions; price reductions await
Retailers will respond to the appreciation of the EGP with more promotions and discounts rather than by reducing prices on the shelves, Al Borsa says. Spinneys hypermarket chain CEO Mohanad Adly says suppliers are rolling out “special offers” as a prelude to more permanent price reductions following calls to reduce prices at the same pace […]
Posted inOther Business News of Note
Le Marché to be held in April
Furniture fair Le Marché will be held in April, after the Interior Ministry ordered that it be postponed in December, when it was originally set to take place, Al Mal reports. Tarek Nour Communications, the event’s organizer, obtained the necessary final approvals from the Egypt Expo & Convention Authority for April, Tarek Nour tells the […]
Posted inEgypt Politics + Economics
Alex court sentences 13 to two years in prison for protesting Saudi island-swap agreement
An Alexandria court sentenced 13 people to two years in prison on Sunday for staging an unsanctioned rally to protest the Tiran and Sanafir sovereignty handover agreement with Saudi Arabia last year, Ahram Online reports.
Posted inNational Security
Daesh airs video allegedly showing church bomber’s last message
Daesh has aired a video that allegedly shows a final message of terrorist behind last year’s bombing of the Church of St. Peter and St. Paul, Al Masry Al Youm reports. As we avoid serving as a platform for racist propaganda, hate-mongering propaganda, we will not reveal any details other than Reuters has picked up […]
Posted inON YOUR WAY OUT
Al Abakera is back, prize money exceeds EGP 35 mn
Did you know that Egypt is home to a game show that has the largest prize purse of any game show in the Middle East? Al Abakera (The Geniuses) is a fierce quiz show / reality edutainment competition between high schools competing to claim the winning title, but win or lose, every time a student […]