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The Pharmacists’ Syndicate has cancelledits planned strike on 12 February after the Health Ministry has acquiesced to its demands that pharma companies ensure they receive discounts to guarantee a profit margin of 23% for domestic meds and 15% for imported products (directive 499). This will be applied to meds which saw a price increase last […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Heliopolis for Housing and Development investing EGP 560 mn in FY2016-17
Heliopolis for Housing and Development are investing a total of EGP 560 mn in FY2016-17, deputy Chairman Wael Youssef told Al Mal. The investment will include EGP 330 mn for infrastructure and facilities, and the rest towards housing projects, he added.
Posted inReal Estate + Housing
NUCA did not notify TMG Group that it would stop granting building licenses for Madinaty
The New Urban Communities Authority (NUCA) did not officially notify TMG Holding that it would stop granting the company building licenses for Madinaty, TMG claimed in a statement. Earlier Al Shorouk had reported that the NUCA stopped granting licenses to TMG following a previously filed lawsuit against NUCA requesting the company be allowed to pay […]
Posted inTelecoms + ICT
TE still in negotiations with MNOs for domestic roaming
Telecom Egypt (TE) is still in talks with the three mobile network operators over the technical and financial aspects of the domestic-roaming agreement, unnamed sources tell Al Mal. The negotiations include the methods for technical interconnectivity between the companies and pricing for network use, the source added. The NTRA had given the companies until 15 […]
Posted inTelecoms + ICT
Global Telecom Holding to sign USD 200 mn loan agreement with Citi and ING Bank
Global Telecom Holding will be signing an unsecured short-term loan agreement for USD 200 mn with Citi and ING Bank to finance its share buy-back program, Al Borsa reported. GTH subsidiaries Telecom Ventures LLC and International Wireless Communications Pakistan LLC are guarantors.
Posted inOther Business News of Note
Transportation Ministry issues tender to build 100 feddan land port in March
The Transportation Ministry will issue a public tender in March for the construction of a 100-feddan dry port in partnership with the private sector, Transportation Minister Galal Saeed told Al Borsa. The dry port will be followed by a tender to build a 300-feddan logistics center as part of the ministry’s comprehensive logistic strategy that […]
Posted inOther Business News of Note
Furnex sees signing of export contracts
25% of the agreements inked at furniture expo Furnex were export contracts, Al Borsa reports. Some 220 buyers from 35 countries are said to have inked contracts.
Posted inLegislation + Policy
SCC deems Civil Service Act article guaranteeing holiday for hajj as unconstitutional
The Supreme Constitutional Court has ruled that Article 52 of the Civil Service Act, which grants Muslims the right to take a holiday for hajj, is unconstitutional, as it does not provide the equivalent right for Copts to visit Jerusalem, Egypt Independent reported (the story incorrectly names the article in question as Article 71).
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.3797 | Sell 18.5203 EGP / USD at CIB: Buy 18.351 | Sell 18.501 EGP / USD at NBE: Buy 18.3 | Sell 18.35 EGX30 (Sunday): 12,883.43 (+0.60%) Turnover: EGP 944.3 mn (117% above the 90-day average) EGX 30 year-to-date: +4.362% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
26 January - 10 February (Thursday-Friday): Cairo International Book Fair, Nasr City fairgrounds. 08 February (Wednesday): N Gage Debate on National Food Safety Authority, Four Seasons Hotel Nile Plaza, Cairo. 14-16 February 2017 (Tuesday-Thursday): Egypt Petroleum Show 2017 (EGYPS), CIEC, Cairo. 16 February (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting. 23 February (Thursday): […]