Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The government will unveil in August the conditions for 600 MW-worth of solar projects that will be tendered under a newly-introduced auction system, Electricity Ministry sources told the press. The new mechanism will be similar to a Dutch auction, where prices are gradually reduced until a bid is made. The ministry will kick off the […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt saves USD 350 mn a year from energy efficiency improvements in refining
The government is saving some USD 350 mn each year due to energy efficiency improvements in oil refineries, a source from the Oil Ministry said. Egypt is set to join the World Bank’s Global Gas Flaring Reduction Partnership initiative to eliminate routine gas flaring throughout the country by 2030, the source added.
Posted inBasic Materials + Commodities
Egypt has procured 2.7 mn tonnes of local wheat this season
Egypt has bought 2.7 mn tonnes of local wheat so far this season, according to an Al Akhbar story picked up Reuters. Supply Minister Ali El Moselhy previously announced plans to procure 3.6 mn tonnes of wheat from local farmers this season.
Posted inBasic Materials + Commodities
Egypt’s cotton exports up 52% from December to February
Egypt’s cotton exports increased 52% y-o-y to 579.3k qintars during the first quarter of this season, compared to 379.7k qintars in the same period last year, according to CAPMAS figures (pdf). The cotton export season began last December and is set to wrap in August.
Posted inReal Estate + Housing
NUCA to offer 85 feddans of land near New Cairo reclaimed from Al Marasem
The New Urban Communities Authority will offer an 85-feddan land plot near New Cairo reclaimed from Al Marasem International for Development to real estate developers in 2H2019, a source from the New Cairo City Authority said. Al Marasem, a Bin Laden Group subsidiary, asked the authority to take back the land after failing to make […]
Posted inReal Estate + Housing
Arkan Palm awards design contract for Sheikh Zayed development to Gensler
Egypt’s Arkan Palm has awarded the design contract for a 205-acre mixed-use development in Sheikh Zayed City to Gensler, an architecture firm based in the US, Thomson Reuters Projects News reports. The development will be a commercial and leisure complex, constructed in partnership with the New Urban Communities Authority (NUCA). Gensler will complete its designs […]
Posted inTourism
Egypt to launch phase two of tourism e-services platform on 1 June
Tourism companies will be required to electronically submit documents detailing the packages they offer after the Tourism Ministry launches the second phase of its tourism e-services platform on 1 June, head of the ministry’s company regulation authority Magdy Shalaby said, according to Al Shorouk. The ministry also plans to bring the full licensing process online […]
Posted inBanking + Finance
Maridive commissions Grant Thorton to prepare a FV report
Maridive & Oil Services has named Grant Thorton as independent financial advisor to prepare a fair value report for the company’s share price ahead of a potential USD 37 mn capital increase, the company said in a bourse filing (pdf). UAE-based investor Najjad Zeenni had announced earlier this month his intention to acquire a stake […]
Posted inOther Business News of Note
EGX talking up life as a listed company to 79 prospects
The EGX has been marketing the benefits of life as a listed companies in a series of sit-downs since October with executives from 79 non-listed companies, according to a press release. The companies have an average capital of EGP 700 mn, and operate across a variety of sectors, including real estate, pharma, food processing and […]
Posted inSports
Zamalek named Confederation Cup champion for the first time
Zamalek FC was crowned yesterday the champions of the Confederation of African Football (CAF) Cup for the first time in the club’s history, after beating Morocco’s RS Berkane 5-3 in a penalty shootout, Kick Off reports. This is also the first continental championship Zamalek has won since 2002.