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Saudi imposes temporary ban on Egyptian onions: Saudi Arabia’s Environment, Water and Agriculture Ministry imposed a temporary import ban on Egyptian onions on Thursday, according to a statement by the ministry. “The ban decision was made after it was proven that Egyptian onions exceeded the global residue limits of pesticides,” the statement read. Egypt has […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Expect EAEU trade agreement by year-end, says Nassar
Expect EAEU trade agreement by year-end, says Nassar: Egypt and the Eurasian Economic Union (EAEU) will sign a trade agreement by the end of 2019, Trade and Industry Minister Amr Nassar announced during the first of round of talks on Friday, Al Mal reports. The two sides will meet once every three months in a […]
Posted inDiplomacy + Foreign Trade
El Sisi ratifies USD 500 mn World Bank agreement to fund Egypt education
President Abdel Fattah El Sisi ratified a USD 500 mn funding agreement with the World Bank to fund Egypt’s education reforms, which was published in the Official Gazette on Thursday, Ahram Online reports. Under the agreement, which was reached in April of last year, Egypt will receive the funding over the span of five years.
Posted inEnergy
EGAS exported 80 bcf in FY2017-18
EGAS has exported around 80 bcf of gas in FY2017-18, exported in 10 shipments, according to a report by the company picked up by Al Shorouk. Egypt’s total production of natural gas reached 2.1 tcf in FY2017-18, with an average output rate of 5.8 bcf/d.
Posted inEnergy
Eni to finish drilling 14th Zohr well by end of January
Italy’s Eni is expected to finish drilling the 14th well at Zohr natural gas field by the end of January, an EGAS source tells Al Shorouk. The company is currently drilling 12 wells to increase the field’s well count to 20, which is projected to increase production to 3 bcf/d by the end of 2019.
Posted inEnergy
Western Burullus field to begin producing natgas next year
Natural gas production from the Mediterranean’s western Burullus field will begin in 2020, according to an Oil Ministry statement.
Posted inEnergy
Egypt-based IMS, unnamed foreign companies to build USD 50 mn solar plants
Electrical engineering company Intelligent Micro Solutions (IMS) has partnered with an EU-based and a US-based company to build USD 50 mn-worth of solar plants in Wadi El Natrun and Beni Suef, IMS president Magdy Saleh tells Al Shorouk. The partners will fund the plants, on which construction will begin in 2H2019, through a mix of […]
Posted inBasic Materials + Commodities
Supply Ministry to establish commodities exchange this year
The Supply Ministry expects to establish an exchange market for industrial and agricultural commodities this year, Assistant Supply Minister Ibrahim Ashmawy said, according to Al Mal. The exchange will initially allow five commodities — flour, iron, oil, corn and cement — to be traded.
Posted inReal Estate + Housing
Bonyan launches outdoor complex The Walk of Cairo
Compass Investment-owned Bonyan for Development and Trade has launched The Walk of Cairo, “an outdoor lifestyle destination” in Sheikh Zayed that will include shopping outlets, food and beverage retailers, a wellness center, and family entertainment facilities, according to an emailed statement (pdf). The outdoor complex is designed by Chicago-based architects Skidmore, Owings, & Merrill. No […]
Posted inReal Estate + Housing
Egypt’s real estate sectors has strong fundamentals, industry experts say
Egypt’s real estate sector is benefiting from growing demand and investments, but is still suffering from weak consumer purchasing power, real estate experts told Housing Minister Moustafa Madbouly at an industry gathering last week. Supply increased in 2018, but the number of units sold decreased as a result of lower purchasing power, Tatweer Misr CEO […]