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Could ride-hailing apps and driverless cars bring an end to urban car ownership? The rise of the phenomenon of “mobility as a service” is making access to on-demand transportation and (soon) self-driving cars all the more simplified. Some of us urban dwellers have already started to wonder, why own a car? This may now be […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt condemns Israel’s demolition of Palestinian homes
Egypt has condemned Israel’s demolition of a number of Palestinian homes earlier this week in the Wadi Al Hummus area of East Jerusalem, the Foreign Ministry said in a statement.
Posted inEnergy
27 new solar power plants go online in Benban solar park
Twenty-seven new solar power plants in the Benban solar power park with a joint capacity of 1.2 GW have been brought online and linked to the national grid, Electricity Ministry sources told the local press. Twenty-five of the plants have begun selling power to the Egyptian Electricity Transmission Company while the other two are conducting […]
Posted inBasic Materials + Commodities
Egypt secures USD 14 mn loan from OFID to set up wheat silos
Investment Minister Sahar Nasr signed yesterday a USD 14 mn loan agreement with OPEC Fund for International Development (OFID) CEO Abdulhamid Alkhalifa to establish two wheat silos in the port of West Port Said, the ministry said in a statement. The silos, which will be built and owned by the General Company for Silos and […]
Posted inManufacturing
Mintra to begin production at sports shoes factory in October
Mintra is planning to begin operations at its new USD 50 mn Cairo sports shoes factory in October, according to the local press. The facility will initially produce 16 mn pairs of shoes in the first year, before increasing to 100 mn a year after five years.
Posted inManufacturing
Ajlan & Bros looking to set up textiles facility, industrial and residential complex
Saudi menswear manufacturer Ajlan & Bros is planning to set up a textiles and garment production facility in Qena, Vice Chairman Mohamed Ajlan told Prime Minister Moustafa Madbouly during a meeting yesterday, according to a Cabinet statement. Ajlan requested land plots for the facility and for a separate industrial and residential complex the company wants […]
Posted inTourism
ODE to launch new real estate project in El Gouna in September
Orascom Development Egypt (ODE) will launch a new real estate project in El Gouna to coincide with the El Gouna Film Festival in September, Investor Relations Manager Sarah El Gawahergy told Al Mal. The company aims to invest USD 2 mn on development projects in the resort town, including renovating hotels and building conference halls, […]
Posted inTourism
Orascom, Besix to finish bulk of building Grand Egyptian Museum by end-2019
The Grand Egyptian Museum is close to being fully built, phase 3 project director Laurens Schokking told Construction Week. Concrete, steel works, mechanical, engineering, plumbing, and finishing work at the museum are all reportedly near completion, and the bulk of the building work is expected to be finished before the end of the year. Phase […]
Posted inAutomotive + Transportation
Egypt to finish building Heliopolis metro station in October, two others by December
The Transportation Ministry will finish the construction of Heliopolis metro station on Metro Line 3 in October, it said in a statement. The El Nozha and Hisham Barakat stations will be inaugurated by the end of December.
Posted inBanking + Finance
GTH board approves Grant Thornton valuation report
Global Telecom Holding’s (GTH) board has approved the updated valuation report prepared by independent financial advisor Grant Thornton in relation to Veon’s bid to acquire GTH’s operating assets and the mandatory tender offer (MTO), the company said in a bourse filing (pdf). The report valued GTH at EGP 4.93 per share, slightly lower than the […]