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Chile will begin talks with Egypt to launch a freetrade zone later this year, Director of Economic Relations at the Chilean Foreign Affairs Ministry Philippe Lubieda told Al Ahram. A feasibility study on the zone is currently being conducted, according to Lubieda.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt seeks USD 2.35 bn facility from Kuwait-based fund for 17 new projects
Egypt seeks additional USD 2.35 bn facility from Kuwait-based fund for 17 new projects: Egypt is holding talks with the Kuwait-based Arab Fund for Economic and Social Development (AFESD) to obtain a USD 2.35 bn facility to fund 17 new projects, according to an Investment Ministry statement (pdf). In 2018, Egypt received AFESD funding to […]
Posted inBasic Materials + Commodities
Al Ghurair signs EGP 5 bn-worth of agreements for sugar beet processing facility
Al Ghurair Group signed three agreements worth a combined EGP 5 bn for its USD 1 bn sugar factory in Minya last week, according to an Investment Ministry statement (pdf). The agreements include a contract with China’s Sinoma CDI to construct the facility by 2021, a contract with Elsewedy Electric to provide high-pressure water lines […]
Posted inManufacturing
IFC to finance USD 2.3 mn project to boost manufacturing efficiency in Egypt
The International Finance Corporation (IFC) will finance a USD 2.3 mn project to improve the efficiency of electric motors used in Egyptian factories, according to a Trade Ministry statement (pdf). Trade Minister Amr Nassar and an IFC delegation led by Walid Labadi, IFC’s regional manager for Egypt, Yemen and Libya, discussed cooperating to support the […]
Posted inHealth + Education
Egypt to set up container classrooms supplied by Chinese company
Egypt is planning to set up 265k “container-like smart classrooms” developed by a Chinese company over the next three years, reports People’s Daily. The classrooms take a few hours to set up and, at GBP 22,900 apiece, cost a fraction of typical educational infrastructure.
Posted inTourism
Grand Egyptian Museum inauguration set for 4Q2020
The Grand Egyptian Museum will be inaugurated in 4Q2020, Tourism Minister Rania Al Mashat announced on Tuesday during the Arabian Travel Market (ATM) in Dubai, Egypt Today reports. Construction of the museum began in May 2005.
Posted inAutomotive + Transportation
Egypt’s NRA signs EUR 157 mn contract with Spain’s Talgo to purchase six trains
The National Railways Authority (NRA) has signed a EUR 157 mn contract with Spanish manufacturer Talgo to purchase six passenger trains, according to a Transport Ministry statement. The agreement is financed by the European Bank for Reconstruction and Development. The ministry is set to receive the first rolling stock in 21 months.
Posted inOther Business News of Note
Global Telecom’s Banglalink agrees on USD 300 mn loan
Global Telecom’s Bangladeshi subsidiary Banglalink has reached an agreement on a USD 300 mn syndicated loan with several international banks, the company said in a bourse filing. The loan will be used to refinance the principal amount of a USD 300 mn bond that matures on 6 May and will be guaranteed by GTH’s mother […]
Posted inSports
Farag, El Welily win 2019 El Gouna International Squash Open Championships
Raneem El Welily and Ali Farag won the 2019 El Gouna International Squash Open women’s and men’s titles, respectively, on Friday, after defeating Egyptian compatriots at the CI Capital Arena, according to a press release (pdf). CI Capital Group Co-CEO Hazem Badran presented El Welily with her trophy and prize money following the championship finals. […]
Posted inSports
AfCON ticket prices generate controversy, prices to be reviewed
Sports Minister Ashraf Sobhy announced the prices of tickets for the 2019 Africa Cup of Nations (AFCON) will be reviewed after sparking backlash for being too expensive for the average football fan to afford, Ahram Online reports. A host of public figures and athletes took to social media to criticize the tickets originally being priced […]