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How has the GDP of top economies changed over the years? The US, the UK, France and — with the exception of a few turbulent years — Germany have dominated the global economy in the modern industrial age. But in this dynamic chronological chart by WawamuStats showing changes in GDP by country from 1960-2017, it […]
Author Archives: enterpriseam admin
Posted inEnergy
Rosatom visiting Egyptian steel companies for Dabaa partnerships
Senior executives from Russia’s Rosatom have begun talks with several Egyptian companies, including Orascom Construction, Elsewedy Electric, and Ezz Steel, ahead of possible partnerships on the Dabaa nuclear power plant, reports Al Mal. We had previously reported that Schneider Electric is in talks with Rosatom to provide electric equipment for the plant. Egypt’s Nuclear Power […]
Posted inInfrastructure
EETC, EGEMAC sign four contracts worth EGP 1.7 bn to develop electricity transmission networks
The Egyptian Electricity Transmission Company (EETC) and the Egyptian German Electrical Manufacturing Company (EGEMAC) have signed four contracts worth a total EGP 1.7 bn to develop electricity transmission networks across the country, according to local reports. The projects will see new transformers and adaptor connectors installed in the Delta, the Nile Valley, Fayoum and 10 […]
Posted inInfrastructure
Egypt to establish industrial complex in Fayoum
Egypt is working to establish the country’s second largest industrial complex in northern Fayoum, said Industrial Development Authority (IDA) boss Magdy Ghazi. No further details were provided on the planned project.
Posted inBasic Materials + Commodities
US office expects Egypt to import 12.6 mn tonnes of wheat in MY2019-20
Egypt is expected to import 12.6 mn tonnes of wheat in marketing year (MY) 2019-20 to fill in the demand gap, up 0.8% from 12.5 mn this MY, according to a report from the US Foreign Agricultural Service (pdf). Wheat grown at home is expected to record 8.77 mn tonnes in the MY, up 4% […]
Posted inTourism
Time Hotels expands into Egypt
UAE-based Time Hotels has opened a central reservations office in Cairo and is planning to inaugurate a four-star resort in Ras Sedr in 3Q2019, as part of their greater MENA expansion plan, according to Mubasher.
Posted inAutomotive + Transportation
Egypt’s government hikes indirect passenger levies on outbound planes by USD 5
The Civil Aviation Ministry has increased by USD 5 a levy it collects indirectly from passengers departing from Egyptian airports on international and domestic flights, according to a ministry statement. The increase will take effect in November 2019. The original value of the levy was not disclosed.
Posted inBanking + Finance
Global Lease to borrow USD 10 mn from EU-based funds to diversify sources
Global Lease is planning to borrow USD 10 mn from two unnamed European lenders this year to diversify its financing sources, CEO Hatem Samir said, according to Al Mal. Global Lease previously secured USD 5 mn from the EBRD’s Green for Growth Fund to finance its projects in the renewable energy sector. The company will […]
Posted inBanking + Finance
Egypt’s NUCA names managers of planned EGP 10 bn bond securitization
The New Urban Communities Authority has selected EFG Hermes, CIB, National Bank of Egypt, and Arab African International Bank to manage the first tranche of a EGP 10 bn bond securitization of receivables that will be worth about EGP 6 bn, sources tell Al Mal. Sarwa Capital and Banque Misr will manage the remaining EGP […]
Posted inBanking + Finance
Misr Capital Investments looks to launch first direct investment fund by year-end
Banque Misr’s investment arm Misr Capital Investments is planning to launch its first private equity fund before year-end and is mulling investing in the technology sector, CEO and Managing Director Khalil El Bawab and COO Omar Radwan tell Al Mal. The new management is embarking on a project to turn Misr Capital into a full-fledged […]