Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The price of subsidized bread will remain unchanged despite the expected increase in costs when average electricity prices rise 15% on 1 July, a source from the Supply Ministry told Al Shorouk. The cost to produce a loaf of bread could increase to EGP 0.60-0.62 from EGP 0.55-0.58 when the new prices take effect, the […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Pharco Pharmaceuticals, MODON to build pharma complex in Madinah
Egypt’s Pharco Pharma has signed an industrial land lease with the Saudi Authority for Industrial Cities and Technology Zones (MODON) for an area in Madinah, Saudi Arabia, covering over 62k sqm, Asharq al-Awsat reports. The two organizations will invest SR 570 mn to build an integrated pharma complex that will house research and development centers […]
Posted inReal Estate + Housing
Ora Developers launches ZED development in Sheikh Zayed
Bn’aire Naguib Sawiris’ Ora Developers launched its EGP 35 bn project ZED Park in Sheikh Zayed, the company said in a statement (pdf). The first phase of the project was sold out in a week, CEO Haitham Mohamed said. ZED incorporates 5k apartments in two interconnected towers of 20 floors each and other apartment buildings […]
Posted inReal Estate + Housing
Cairo governor says capital will have no more slums by year-end
Cairo will eliminate its slum areas by the end of 2019, Governor Khaled Abdel Aal said on Friday, according to the local press. The government has set aside EGP 10 bn to build 40k homes to achieve the goal, Abdel Aal said. The plan will also see the government providing jobs for residents of these […]
Posted inTourism
Egypt’s SLCC sets higher USD 2.5 mn limit in Giza Plateau tender relaunch
The Sound and Light Cinema Company (SLCC) has raised the minimum value of its annual tender to develop and manage the sound and light show at the Pyramids to USD 2.5 mn, sources familiar with the matter told Al Mal. The previous contract was worth EGP 10 mn (c. USD 600k), and was held by […]
Posted inTourism
Direct flights between Cairo and Kiev to run from Thursday
EgyptAir announced a new codeshare partnership with Ukraine International Airlines last week, which will allow customers to fly directly between Cairo and Kiev from this Thursday, Egypt Today reports. The partnership reportedly follows increased demand in both Egypt and the Ukraine for direct flights between the two countries. It marks the end of Ukraine’s 15-year […]
Posted inBanking + Finance
EFG announces cash dividends of EGP 0.65 / share from 12 June
EFG Hermes has announced cash dividends of EGP 0.65 per share payable starting 12 June, the company said in a bourse filing (pdf).
Posted inOther Business News of Note
MAF inaugurates Carrefour store in Ismailia
Majid Al-Futtaim Group (MAF) has inaugurated a shopping mall, with a Carrefour store, in Ismailia at an investment cost of EGP 200 mn, Al Shorouk reports. The mall is the first of an agreement signed between MAF, the Investment Ministry, and the National Service Projects Organization to open 100 outlets in industrial zones across Egypt. […]
Posted inEgypt Politics + Economics
Egypt sends aircraft to help Israel battle wildfires
Israeli Prime Minister Benjamin Netanyahu has thanked Egyptian President Abdel Fattah El Sisi, along with Italy, Cyprus, Greece, and Croatia, for sending aircraft to help Israel battle wildfires that prompted the evacuation of 3.5k people in small towns on Thursday, Reuters reports.
Posted inEgypt Politics + Economics
Egyptian court orders release of Al Jazeera journalist
An Egyptian court has ordered the release of Al Jazeera news producer Mahmoud Hussain, Reutersreports. Hussain has been held in pre-trial detention for over two years on charges of spreading false news, joining a banned group, and receiving foreign funds, and should be released within days.