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Does the internet dream of itself? Werner Herzog’s 2016 documentary Lo and Behold: Reveries of the Connected World (watch, runtime: 01:38:03) is a meditative exploration of the internet’s transformative powers, both the good and the bad. Beginning with the birth of the web in 1969, the documentary weaves its way through 10 chapters covering everything […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Farmers urge gov’t to impose import duty on sugar
The Agriculture Ministry has asked the government to look into proposals submitted by the Farmers’ Syndicate to control sugar imports, ministry sources told the local press. Farmers are urging the government to protect the local market by either imposing protectionist tariffs on sugar or placing limits on quantities of imported sugar. Local producers are coming […]
Posted inBasic Materials + Commodities
New cotton auction system draws criticism from bidding companies for high prices
Private companies refused to participate in the first cotton auction held under a new mechanism yesterday, complaining that the opening price of EGP 2.1k per qintar was too high, the Public Enterprises Ministry said in a statement picked up by the local press. The new public auction system is being applied on a trial basis […]
Posted inManufacturing
East Port Said Development signs contract with Polish investor to operate factory
East Port Said Development Company has signed a contract with a Polish investor to operate its new facility, which is slated to begin production early next year, General Manager Ahmed Al Mufti said. The factory will produce steel products and tools that are used in sanitation projects. The company is also working to issue licenses […]
Posted inHealth + Education
CHG, Al Taaleem sign JV agreement to renovate Al Nahda Hospital in Egypt’s Beni Suef
Cleopatra Hospitals Group (CHG) signed yesterday a joint venture agreement with Al Taaleem Management Services to renovate and operate Al Nahda Hospital in Beni Suef, according to an emailed statement (pdf). The JV will be 90% owned by CHG and the remaining 10% by Al Taaleem — the owner and operator of Nahda University in […]
Posted inReal Estate + Housing
Emaar Misr awards Arabtec contract to build two communities in Uptown Cairo
Emaar Misr has awarded Dubai-based construction company Arabtec a EGP 1.8 bn contract to build two residential areas in Emaar’s Uptown Cairo project, Emaar said in a bourse filing (pdf).
Posted inTourism
Investors want the CBE to extend its tourism sector initiative
Investors are petitioning the Central Bank of Egypt to extend its tourism rescue initiative for investors and businesses operating in the sector for another two years to allow for the renovation of existing tourism facilities and the completion of those currently under construction, Al Shorouk reported. The CBE initiative, which allows investors and businesses in […]
Posted inAutomotive + Transportation
Mitsubishi-Orascom consortium wins tender for first phase of metro line 4
The National Authority for Tunnels awarded a Mitsubishi-Orascom consortium the contract to construct the railway and depot, and to set up the railway system for the first phase of Cairo Metro Line 4, according to the authority (pdf). The agreement was worth a combined EGP 3.8 bn, EUR 397.3 mn, and JPY 10.1 mn. This […]
Posted inAutomotive + Transportation
Transport Ministry talks to Kuwaiti investor to finance Abu Tartour-Safaga railway
The Transport Ministry is negotiating with an unnamed Kuwaiti investor to contribute to the financing of a 700 km railway between Abu Tartour and Safaga, according to Al Mal. A German consultancy firm is separately evaluating four offers from Orascom, Swedish Electric, Samcrete, and Qalaa to construct the railway.
Posted inBanking + Finance
Marakez gets EGP 1.5 bn loan from 5 banks to build Katameya mall
Real estate developer Marakez has agreed a EGP 1.5 bn syndicated loan with five banks to build a mall in Katameya, banking officials told Al Shorouk. Banque Misr was the lead arranger of the loan, with Banque du Caire, CIB, the Arab African International Bank, and Misr Iran Development Bank also contributing.