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Saudi Arabia’s Al Fanar is mulling investing USD 200 mn in establishing two factories to produce cables and electric circuit breakers in the Suez Canal Economic Zone, Al Fanar Energy CEO Gamal Wadi told the local press. The company has been in talks with officials and begun feasibility studies.
Author Archives: enterpriseam admin
Posted inManufacturing
SPP Pumps to partner with gov’t on pumps factory in Egypt
India’s Kirloskar Brothers subsidiary SPP Pumps is considering entering a partnership with the government to set up a factory to manufacture pumps, General Manager Mohamed Hassan tells Al Mal. The factory is expected to obtain 50% of its raw materials from local sources. No further details on the project were provided.
Posted inReal Estate + Housing
Mariout Hills announces EGP 2.4 bn “eco-city” on Egypt’s north coast
Mariout Hills Development is launching their first “eco-city” on Egypt’s north coast, with estimated investments of EGP 2.4 bn during the project’s first phase, Chairman Ahmed Hassan announced, according to the local press. The development, which comprises residential units as well as medical tourism, sports, and educational services, will be powered by solar energy with […]
Posted inAutomotive + Transportation
Egypt to issue temporary licenses for electric vehicles
The Interior Ministry will begin providing electric car owners temporary license plates and registration until it introduces permanent licensing for the vehicles, the ministry said in a statement. We noted last December that a government committee is working to prepare a legislative framework for the vehicles, including a single mechanism in government offices for licensing.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.10 | Sell 17.20 EGP / USD at CIB: Buy 17.10 | Sell 17.20 EGP / USD at NBE: Buy 17.10 | Sell 17.20 EGX30 (Monday): 14,205 (-2.1%) Turnover: EGP 312 mn (63% below the 90-day average) EGX 30 year-to-date: +9.0% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
May: 50 Egyptian companies are set to visit Libya to discuss trade, investment and reconstruction. May: An IMF delegation will be in town to conduct its final review of the reform program ahead of the disbursement of the sixth and final tranche of Egypt’s USD 12 bn IMF loan. 14 May (Tuesday): Egyptian Private Equity […]
Posted inWhat We're Tracking Today
What we’re tracking on 06 May 2019
It’s a reasonably quiet news morning in Egypt as we begin the Holy Month, but what news there is is big: Thailand has a new king, and he’d like USD 1 bn from Egypt to mark the occasion. And non-oil business activity expanded last month, snapping an eight-month losing streak. IMF delegation in Egypt to […]
Posted inEnterprise+: Last Night’s Talk Shows
Coverage of national projects wrests control over Egypt’s airwaves
National projects were the topic du jour on the airwaves last night, starring Aswan’s Benban solar complex and new Suez Canal tunnels. Benban earned some airtime thanks to World Bank President David Malpass’ visit to the site, which Al Hayah Al Youm’s Khaled Abu Bakr reminded us was recently named by the World Bank as […]
Posted inSpeed Round
Egypt’s non-oil business activity expands for the first time in eight months
Non-oil business activity expanded for the first time in eight months in April, driven by a rise in domestic orders, according to the Markit / Emirates NBD PMI gauge (pdf). The latest purchasing managers’ index hit 50.8 in April up from 49.9 in March — the largest monthly increase since August 2015. Making sense of […]