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GAFI approves establishment of new investors’ services centre in Red Sea

The board of the General Authority For Investment and free zones (GAFI), held a meeting headed by the Minister of Investment and International Cooperation (MIIC), Sahar Nasr and GAFI’s CEO, Mohsen Adel, where the board approved the establishment of new investors’ services centre in Red Sea on a land area of 4,000m. The Red Sea’ …

Hagar Omran

Misr Italia begins VINCI project construction works with EGP 500m investments

Misr Italia Properties begins the construction work of VINCI boutique residential project with investments worth EGP500m in 2019. Misr Italia Properties announced finalising a deal with three contracting companies to implement the construction works of VINCI project. With construction of the project starting in 2019, the company plans to accelerate the delivery of units in 2022. Mohamed Hany …

Daily News Egypt

Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB

Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …

Daily News Egypt

For First Time in Egypt: Uber launches UberBlack in El Gouna

Uber announced on Wednesday that it has launched UberBlack in Egypt, a premium product that will be operated by the mobility solutions provider, Budget. It added that the product is available in El Gouna starting from 23 April, aiming to facilitate even more choice for riders across Egypt, when it comes to transportation options within …

Daily News Egypt

Oriental Weavers to deliver first phase of OIC before year-end

Egypt’s Oriental Weavers Group revealed new details about its planned industrial city, Orientals Industrial City (OIC), in Ain Sokhna, announcing that the project will be built on an area of 10.5m sqm at a cost of EGP 13bn. The new industrial city would be developed and managed by the company’s subsidiary Orientals for Industrial Development …

Shaimaa Al-Aees

Upper Egypt pipelines receive 7.5m tonnes of fuel annually: PPC

Upper Egypt receives about 7.5m tonnes of crude oil, butane, and petroleum products through pipelines annually, the Chairperson of Petroleum Pipeline Company (PPC), Abdel- Moneim Hafez, said He pointed out that investments worth EGP 3.6bn were injected into Upper Egypt, including a project to increase the capacity of butane to Lower Egypt governorates from a …

Mohamed Adel

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