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Orascom Development Holding (ODH)’s voluntary delisting of all its Egyptian Depository Receipts on the EGX are not subject to Swiss takeover law, the Swiss Takeover Board ruled, according to ODH. ODH’s board had approved a voluntary delisting of its EDRs and the execution is pending the approval of an EGM. ODH also said it also […]
Author Archives: enterpriseam admin
Posted inTourism
Tourism Ministry considers subsidizing domestic flight tickets to boost local tourism
The Tourism Ministry is considering subsidizing domestic air travel by up to EGP 300 per ticket as a way of encouraging local tourism, which has been suffering as a result of the recent surge in ticket, Al Borsa reports. The cheapest domestic flight now stands at EGP 1,250 and the ministry is hoping to see […]
Posted inTourism
Egyptian airports are open to private airlines -Civil Aviation Authority
Egyptian airports are open to private airlines if they meet safety regulations set by the Civil Aviation Ministry, the Civil Aviation Authority head Hany El Adawy told Ahram Gate. The ministry has a vision to create a network of airlines functioning alongside flag carrier EgyptAir to improve services, he explained. Private airlines are encouraged to […]
Posted inTourism
JW Marriott officially becomes manager of Mena House
The JW Marriott has signed a hotel management contract with the Egyptian General Company for Tourism and Hotels (EGOTH) to manage the Mena House Hotel, JW Marriott Hotel Cairo General Manager Magdy Naguib told Al Borsa. The property is split between an historic palace and an attached modern hotel building. Hotel renovations will be completed […]
Posted inTelecoms + ICT
Raya merging Data Center operations with Information Technology
Raya Holdings is merging its subsidiaries Raya Data Center and Raya Information Technology to form one entity, unnamed sources tell Al Mal. The consolidation comes as part of a move to bring together Raya’s data centers, IT, networking, and call center services under one company, the source added.
Posted inAutomotive + Transportation
Renault increases output from Morocco plants to meet demand from Egypt, Turkey
Renault announced it is aiming to increase exports from its Moroccan plants of Tangier and Casablanca to satisfy regional demand from Egypt, Tunisia, and Turkey, Daily News Egypt says, picking up an earlier story from sister publication Al Borsa. Renault Morocco said it increased production by 18% y-o-y in 2016. Renault’s Morocco produced cars are […]
Posted inAutomotive + Transportation
National Tunnels Authority looking to raise EGP 1.2 bn for 64 new metro trains
The National Authority of Tunnels is looking to raise EGP 1.2 bn to buy 64 new metro trains for the third and fourth phases of the third metro line in Cairo, Al Shorouk reported. The additional USD 635 mn needed for the purchase will come in the form of a loan through the agreement with […]
Posted inAutomotive + Transportation
Al Ahram wins three-year advertising contract for Cairo Metro
The Ahram Corporation and OMT Investments signed a three-year contract with the Transport Ministry on Monday for the exclusive advertising rights on the Greater Cairo Metro system, Ahram Gate reported.
Posted inEgypt Politics + Economics
Is the Military Production Ministry angling for a bigger slice of the economy?
The Military Productions Ministry appears to be vying for more projects, with minister Gen. Mohamed El Assar submitting a report to cabinet last night on how best to utilize the ministry’s capabilities to limit the need for imports of certain goods. El Assar proposes a variety of projects which the ministry hopes to dive into, […]
Posted inNational Security
Armed Forces’ Chief of Staff to meet with British Armed Forces officials in London
Armed Forces Chief of Staff Mahmoud Hegazy is in London for talks on security cooperation, Al Shorouk reports.