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KarmSolar has signed a USD 90 mn agreement with Cairo3A Poultry to connect its facility to the national grid and supply all of its electricity from solar power, the company said in a statement (pdf). KarmSolar is planning to build a USD 90 mn, 100 MW solar plant in the Bahariya Oasis to provide power […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt to build hydrogen cracker, petroleum complex worth USD 2.3 bn
The Oil Ministry aims to build a USD 2.3 bn hydrogen cracking and gasoline producing complex in Suez, Minister Tarek El Molla told the domestic press. Four projects have already been implemented with USD 309 mn in investments, El Molla said, adding that the ministry is also looking to develop six refineries with USD 9 […]
Posted inInfrastructure
Consortiums competing for Egypt’s 6 October dry port to submit offers next May
The three consortiums competing for the tender to build and operate the USD 100 mn 6 October dry port will submit their offers in May, the Finance Ministry announced (pdf). The winning consortium will enter into a public-private partnership (PPP) with the General Authority for Ports and Dry Land to build and operate the project. […]
Posted inBasic Materials + Commodities
GASC imports 68k tonnes of white rice
State grain purchaser GASC has purchased 68k tonnes of white ricein its second international rice tender of the year, according to a statement picked up by Masrawy. The rice samples have already successfully passed tests required for rice imports. It is expected that the quantity will be delivered in two batches over the next several […]
Posted inTelecoms + ICT
Fawry establishes payment solution for consumer goods products
Fawry has launched Fawry FMCG, a new e-payment platform for consumer goods companies, reports Al Mal.The service was developed in partnership with PI Technologies and intends to create a digital non-cash community for merchants and companies.
Posted inEgypt Politics + Economics
Court grants Egyptian satirist Shady Abu Zeid conditional release
Satirist and video blogger Shady Abu Zeid has been granted conditional release by a Cairo criminal court after spending nine months in pre-trial detention, his lawyer announced on Sunday. Abu Zeid was arrested in May 2018 on charges of spreading false news and joining an illegal group.
Posted inNational Security
Egypt, Kuwait conduct joint military drills
Egyptian and Kuwaiti armed forces completed several days of drills in Kuwait on Sunday, according to Egypt Today. "Sabah-1" was a naval drill while "Yarmouk-4" involved practicing exercises related to defense and attack.
Posted inON YOUR WAY OUT
Halan CEO, Swvl co-founders named in “high impact entrepreneurs” network
Halan CEO, Swvl co-founders named in “high impact entrepreneurs” network: Endeavor Egypt has selected tuk-tuk and motorbike ride-hailing app Halan CEO Mounir Nakhla and co-founders of mass transit app Swvl, Ahmed Sabbah, Mahmoud Nouh, and Mostafa Khalil, to join its network of high impact entrepreneurs, according to a statement (pdf). “Both Halan and SWVL provide […]
Posted inON YOUR WAY OUT
Google celebrates Mary Mounib’s 114th birthday
Google celebrated yesterday what would have been Egyptian cinema icon Mary Mounib’s 114th birthday with a Google Doodle. Lebanese-born Mounib is most notably remembered for her comic roles.
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.55 | Sell 17.65 EGP / USD at CIB: Buy 17.56 | Sell 17.66 EGP / USD at NBE: Buy 17.55 | Sell 17.65 EGX30 (Sunday): 14,764 (+0.1%) Turnover: EGP 757 mn (12% below the 90-day average) EGX 30 year-to-date: +13.3% THE MARKET ON SUNDAY: The EGX30 ended […]