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Committee studying alternatives to automotive directive to submit report next week
The joint CBE-auto industry committee studying alternatives to the automotive directive will submit a report to bank Governor Tarek Amer…
TRANSPORTATION
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GB Auto launches new promotional campaign with discounts up to EGP 17k
GB Auto kicked off a new promotional campaign on Wednesday offering discounts of EGP 10-17k on select models of its…
Plans to revive El Nasr Automotive not going so well, negotiations stalled
If there’s one company that has captured the attention of a certain generation of local-press journalists, it’s Nasser-era pet project…
Auto companies decrease sales targets due to market slowdown
Car distributors companies are slashing their sales targets for the remainder of the year by 30-50% due to the market…
China’s JAC Motors, Hawtai planning to increase investments in Egypt
China’s Hawtai is looking to invest as much as USD 1 bn in Egypt’s auto manufacturing and component industries, the…
EGAS receives EGP 1.8 bn package from eight-bank consortium
A consortium of eight banks agreed to extend the Egyptian Natural Gas Holding Company (EGAS) an EGP 1.8 bn facility…
Banque Misr to establish mortgage financing arm
With the CBE promoting mortgages for low- and middle-income earners, Banque Misr plans on establishing a mortgage financing arm, bank…
Banque Misr seeking USD 500 mn facility from China Development Bank
Banque Misr will sign a USD 500 mn loan with China Development Bank today to fund imports from China, Vice…
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