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CBE pays back dues to six foreign airlines
The CBE provided repayment for United Airlines, Air Canada, Turkey’s Pegasus, Gulf Air, Jazeera Airways, and India’s Jet Airways, travel…
TRANSPORTATION
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30% drop in auto imports in 1H17
Auto imports dropped 30% in 1H17, Customs Authority head Magdi Abdel Aziz tells Al Mal. Auto importers have significantly reduced…
Mowasalat Misr acquires two transport companies, in talks with banks for funding
Private transport company Mowasalat Misr recently acquired Al Hiba and Cairo Transport and is currently in talks to acquire a…
Gov’t wants 10th Ramadan - new capital electric train ready in two years
The Transport Ministry is looking to cut the execution period for the electric train linking 10th of Ramadan to the…
Banque Misr announces financing for “Transport Egypt” project
Banque Misr announced on Tuesday that it will be financing 60% of the first phase of the Transport Authority’s “Transport…
MCV supplying Mowasalat Misr with 100 buses
MCV is supplying private transport company Mowasalat Misr with 100 buses, 16 of which have already been delivered, MCV General…
Fuel subsidy cuts see conversions of cars to natural gas up 250%
Gastec chairman Hesham Radwan has said they have seen a 250% jump in cars converting from gasoline to natural gas,…
Careem hikes its fares, temporarily halts surge pricing
Ride-hailing app Careem has hiked its fares to offset increased costs from last month’s fuel price increases, Al Mal reports.…
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