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Wednesday, 28 April 2021

Unionaire rebrands as UGT

Unionaire Group Technology has announced its rebranding to UGT. The new entity will include Unionaire, Premium, Fine Stone and TCL, and plans to double annual exports to USD 100 mn by the end of 2021. The new company’s new EGP 1 bn industrial complex, located in Sixth of October, will also have its full output allocated for exports when it opens in 2022.

Cairo’s criminal court has sentenced the man accused of the attempted [redacted] assault of a young girl in Maadi to 10 years in prison, Youm7 reports. The trial began on 30 March just a few weeks after shocking video footage of the defendant attacking the girl went viral online.

Arrest following yet another rail accident: Egypt’s Public Prosecution has ordered a railway technician to be detained for four days after a train collided with a pick-up truck in Suez’s Al Amer village yesterday, killing one person and injuring three, the prosecutor said in a statement. This is the fourth fatal accident on Egypt’s rail network in just one month, after the deadly train crashes in Sohag, Qalyubia and Sharqia.

OTHER THINGS we’re keeping an eye on this morning:

  • CIB will facilitate the payment and disbursement of microloans for clients of the Alexandria Business Association through its smart wallets, Meeza cards or bank accounts.
  • The MSME Development Agency and Gastec converted 9.5k cars to run on natgas in 1Q2021, at an estimated cost of EGP 75 mn.
  • The Higher Education Ministry has launched the first incubator program for clean and green technology in Upper Egypt, as part of the Tanmia wa Tatweer: Egypt's Entrepreneurship Development Project.

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