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Chinese construction company CGCOC is interested in developing a 32 mn feddan industrial zone in Fayoum into Egypt’s first “smart city” of the fourth generation of industrial cities, according to an Industrial Development Authority statement.
Author Archives: enterpriseam admin
Posted inHealth + Education
EIPICO to set up pharma factory for EGP 1 bn
ACDIMA subsidiary the Egyptian International Pharma. Industries Company (EIPICO) is planning to set up a biosimilar production facility at a cost of up to EGP 1 bn, Al Mal reports. EIPICO is expecting to soon finalize procedures to acquire a 10k sqm land plot in 10th of Ramadan for the facility. Biosimilars have recently been […]
Posted inHealth + Education
Gilead and EvaPharma to introduce new Hepatitis C drug to Egypt in May
US pharma company Gilead International aims to introduce Vosevi, a Hepatitis C drug, to Egypt within the next two months, said Amgad Talaat, general manager of EvaPharma, Gilead’s agent in Africa. Talaat said the drug, which will target patients who have not responded to available treatments such as Sovaldi, is in the process of being […]
Posted inTourism
ETAA bans tourism companies from reducing prices to exaggeratedly low rates
The Egyptian Travel Agencies Association (ETAA) has issued a decision banning tourism companies from slashing prices to rates which hurt the economy, Al Mal reported. Companies that fail to comply will be subject to investigation and forced to amend their prices. Slashing prices has been a popular strategy among tourism companies looking to attract higher […]
Posted inOther Business News of Note
Industrial Development Authority warns investors over unused industrial land
The Industrial Development Authority (IDA) has issued warnings to 800 investors that they could lose their land plots if they fail to begin construction or production, according to Al Mal. The IDA issued several regulations at the end of 2017 to prevent industrial land from being left unused, and a number of investors were issued […]
Posted inOther Business News of Note
National Company for Maize Products shareholders approve voluntary delisting
Shareholders of the National Company for Maize Products have approved to voluntarily delist from the EGX, according to a bourse disclosure (pdf).
Posted inOther Business News of Note
GAFI to tender four new freezones, three investment zones
The General Authority for Investment and Freezones (GAFI) has announced that it will issue tenders for four new freezones and three investment zones for the first time since 2004, according to Reuters. The freezones will be in Nuweiba, Kafr El Sheikh, Aswan, and Giza, while the investment zones will be in Meet Ghamr, Giza’s Saff, […]
Posted inON YOUR WAY OUT
19th Dynasty temple palace discovered in Sohag
A temple palace belonging to King Ramses II has been uncovered in Sohag by a New York University mission, Ahram Online reported. The palace, discovered during excavations around a temple belonging to Ramses II’s father Seti, contains limestone walls and floors as well as cartouches of the Ancient Egyptian king. In related news, an archaeological […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.27 | Sell 17.37 EGP / USD at CIB: Buy 17.28 | Sell 17.38 EGP / USD at NBE: Buy 17.26 | Sell 17.36 EGX30 (Monday): 14,954 (+1.5%) Turnover: EGP 832 mn (9% below the 90-day average) EGX 30 year-to-date: +14.7% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
April: The African Tripartite Trade Area (TFTA) agreement is set to take effect in April after a majority from the participating governments ratified it, COMESA Secretary General Chileshe Kapwepwe said. April: A World Bank delegation will be in town to review current investment legislation, economic policies and administrative reforms as part of the preparations for […]