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PHD, Sarwa Capital announce closing of EGP 760m securitisation bonds

Palm Hills Developments (PHD) and Sarwa Capital (Sarwa) announce the closing of the latest issue of securitisation bond for PHD, backed by the receivables portfolio’s net present value which stood at EGP 609m, after applying a discount rate of 16.04% on the gross receivables portfolio of EGP 760m, calculated based on the average coupon of …

Daily News Egypt

Signify to install Li-Fi technology in Egypt within upcoming 3 years

Signify, previously Philips Lighting, considers Egypt as an important regional hub to increase its exports to North and East Africa in the company’s growth plans for 2019. The company won a deal to install its smart lighting systems at five stadiums in Egypt where the African Cup of Nations 2019 will be held. The company’s …

Daily News Egypt

Digital Nation 6 showcases latest developments in ICT sector in Egypt

The 6th round of the annual conference of the Chamber of Information Technology and Communications (CIT) ‘Digital Nation 6’, has launched with the participation of the Minister of Communications and Information Technology, Amr Talaat, and the Minister of Investment and International Cooperation, Sahar Nasr, and the CIT Chairperson, Waleed Gad, and around 100 ICT investment …

Daily News Egypt

Finance Minister Mohamed Moeit

Finance Ministry provides EGP 10.2bn as urgent allocations in different sectors

The Minister of Finance, Mohamed Moeit, approved on Tuesday EGP 10.2bn as urgent allocations for both months January and February, to the General Authority for Supply Commodities (GASC), the Egyptian National Railways (ENR), the General Authority for Health Insurance (GAHI), and the National Media Authority (NMA). “The allocations included EGP 8bn for the GASC, which …

Daily News Egypt

Attijariwafa Bank, Global Lease sign SME support protocol

Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services. Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral …

Hossam Mounir

Parliament discusses regulating pet ownership

Pet ownership has been raising controversy among Egyptians, prompting the Parliament’s local administrative committee to discuss on Monday regulating pet ownership, especially dogs. Last week, a police officer in Rehab City was bitten by a dog at a security checkpoint, causing him severe injuries. Some parliamentarians supported citizens’ right to own pets, especially dogs for …

Tamer Farhat