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Don’t we all just feel this man’s pain? Egypt’s prolonged bout of uncharacteristic weather may require a change in the description of Egypt’s climate (those Social Studies books were clearly lying) due to climate change, Egyptian Meteorological Authority Chairman Ahmed Abdel Aal said, according to Egypt Today. Authorities shut down yesterday Egypt’s main Red Sea […]
Author Archives: enterpriseam admin
Posted inWorth watching
Insane freedive in Egypt’s Dahab
Insane freedive in Egypt’s Dahab: A daring Red Sea freediver went all the way down a 30-meter canyon at Dahab’s Blue Hole in one breath, according to Daily Mail Australia. “Freedivers are literally superhuman. The fact that they can hold their breath for that long is both terrifying and impressive,” a commentator said (watch, runtime: […]
Posted inDiplomacy + Foreign Trade
Egypt’s president holds talks with China’s Jiechi, meets leading global portfolio investors; Egypt condemns Nairobi terror attack
El Sisi talks policy with top fund managers: President Abdel FattahEl Sisi held talks yesterday with representatives of international and regional investment firms and funds who took part in this week’s CI Capital MENA Investor Conference, Ittihadiya said in a statement. The talks featured an “open discussion” with the president and Investment Minister Sahar Nasr, […]
Posted inEnergy
Egypt and Italy’s Eni discuss potential investments, Zohr progress
President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly held two separate meetings with Italy’s Eni CEO Claudio Descalzi yesterday — both attended by Oil Minister Tarek El Molla. According to the statements, Descalzi discussed potential future investments by the firm and the status of the current development of the giant Zohr field. He […]
Posted inEnergy
EBA urges gov’t for energy legislation to attract investors
The Egyptian Businessmen’s Association’s energy committee is urging the government and parliament for legislation to regulate the energy sector to attract foreign investors, committee head Osama Guindy told Al Shorouk. Describing the sector as a lucrative one whose potential is being wasted, Guindy said the committee is planning to raise the issue with the House’s […]
Posted inInfrastructure
Three consortiums competing for 6 October dry port
1_StoryTags_! Logistics, ElSewedy Electric, Hassan Allam, PSA Malaysia, DP World, DB Schenker, 3A International, Concorde Logistics India Three consortiums are competing in a tender to build and operate the planned 6 October dry port, Al Mal reported. The first consortium is led by Concorde Logistics India and includes PSA Malaysia and Hassan Allam, the second […]
Posted inManufacturing
Egypt’s textiles complex 50% complete
Construction works on the first phase of the USD 2 bn Chinese textile industrial complex in Sadat City is 50% complete, according to a Trade and Industry Ministry statement. The EGP 2.1 bn (c.USD 117.2 mn) first phase will comprise 150 factories, not 100 as earlier reports had suggested, and will be operational by year-end, […]
Posted inTourism
InterContinental to debut luxury Voco brand in Egypt
Global hotel company InterContinental has signed a management agreement with Arab International Tourism Investment Company to construct a new up-market Voco hotel next to the Giza Pyramids. The 17,000 sqm complex will be situated next to the new Grand Egyptian Museum and the entrance to the Pyramids, and is scheduled to open in 2022.
Posted inTourism
Aracan Hotels to invest EGP 500 mn in 2019
Aracan Hotels and Resorts plans to invest EGP 500 mn in 2019 on various tourism projects, said Chairman Fouad Naeem. The firm plans to invest EGP 120 mn on a 107-room hotel in Ain Sokhna. The company will spend around EGP 400 mn on various developments where it is a partner or is acting as […]
Posted inEgypt Politics + Economics
Customs Authority to begin using blacklist of importers
The Customs Authority has begun implementing a blacklist, which will be shared across all ports and customs checkpoints, so that authorities can keep track of them and their goods, according to a statement from the agency picked up by Al Mal. The decision comes as the authority moves to automate its services and set databases […]