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German wind energy company Senvion has retracted its bid in the tender for Lekela’s 250 MW Ras Ghareb wind energy plant because of financial difficulties, unnamed sources from the New and Renewable Energy Authority said, according to Al Mal. This leaves Siemens Gamesa and Denmark’s Vestas in the running for the project. The plant is […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Gama Construction awarded EGP 1.5 bn contract to construct Smart Village extension
Gama Construction has been awarded a EGP 1.5 bn contract to construct Capital Group Properties’ Smart Village East Business Park on the Cairo-Ismailia desert road on a turnkey basis, according to a press release (pdf). Gama will be responsible for carrying out the civil, electromechanical, and finishing works for the project. Construction is set to […]
Posted inReal Estate + Housing
Zed Towers project receives approval for master plan
The New Urban Communities Authority has approved the master plan for Ora Developers and Gemini Global Development’s EGP 35 bn Zed Towers project in Sheikh Zayed, according to the local press. The 165-feddan project must be completed within 10 years, according to the authority’s decree.
Posted inOther Business News of Note
Spain’s Glovo plans to invest EUR 5.1 mn in Egypt next year
Delivery app Glovo plans to invest EUR 5.1 mn in Egypt next year to expand in cities surrounding Cairo and Alexandria and launch marketing campaigns, co-founder Sacha Michaud told reporters at a press conference yesterday, according to Al Mal. Glovo is also expected to sign contracts with eight hypermarket brands next month. The company had […]
Posted inMy Morning Routine
My Morning Routine: Ahmed El Kalla, founder of NFX Ventures
Ahmed El Kalla, founder of NFX Ventures: My Morning Routine looks each week at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Ahmed El Kalla, founder of NFX Ventures, a venture capital fund […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.22 | Sell 16.36 EGP / USD at CIB: Buy 16.24 | Sell 16.34 EGP / USD at NBE: Buy 16.23 | Sell 16.33 EGX30 (Wednesday): 14,381 (-0.8%) Turnover: EGP 812 mn (19% above the 90-day average) EGX 30 year-to-date: +10.3% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
October: A forum will be organized by Russia’s Rosatom and the Nuclear Power Plants Authority to introduce local suppliers and contractors to the Dabaa nuclear plant. October: German businessman delegation will visit Egypt to discuss good projects in order to spend German funds into Egypt October: A delegation of 40-50 Saudi companies will visit Egypt […]
Posted inWhat We're Tracking Today
What we’re tracking on 2 October 2019
We’re heading into a long weekend, with the Manpower Ministry declaring Sunday 6 October a vacation day for civil servants and private sector employees alike in observance of Armed Forces day. Enterprise will also be off, and we’ll be back in your inboxes at the appointed hour on Monday morning. We’re still waiting on a […]
Posted inEnterprise+: Last Night’s Talk Shows
Egypt to take steps against Twitter, Facebook within days
Egypt to go after Twitter, Facebook: The government will “within the coming few days begin procedures against social media platforms Twitter and Facebook” for allegedly allowing users to incite violence and cause harm to others, (watch, runtime: 10:08), Al Hayah Al Youm’s Khaled Abu Bakr said. Abu Bakr also took it upon himself to read […]