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Diving several meters underwater without a breathing aid is “the closest thing to praying or meditating,” says Egyptian freediver Raghda Ezzeldin (watch, runtime 03:37). Freedivers, who undergo training and take serious safety precautions, are judged by the depth of their dives as well as how long they can stay underwater. Red Sea sites like Ras […]
Author Archives: enterpriseam admin
Posted inEnergy
Shell’s Idku plant increases LNG exports to 520 mcf/d
Royal Dutch Shell’s Idku liquefaction plant has increased exports of natural gas to 520 mcf/d, up from 300 mcf/d previously, an Oil Ministry official tells Reuters. The gas is being exported via Malaysia’s Petronas, Royal Dutch Shell and two state companies, the newswire noted. We reported last month that exports had gone up to 500 […]
Posted inBasic Materials + Commodities
Beheira to launch agricultural commodities wholesale market in April
Beheira will be ready to launch its agricultural commodities wholesale market in April, head of the Beheira Chamber of Commerce Fathy Morsy said at a presser yesterday, according to Al Masry Al Youm. Work on the market, which was initially expected to be launched last September, is currently around 75% complete, Morsy said. President Abdel […]
Posted inManufacturing
Five companies make tender offers to build EgyptAlum’s USD 600 mn product line
Five companies are bidding to build Egypt Aluminum (EgyptAlum)’s new product line, whose estimated capacity is 250k tonnes per year, according to an EGX disclosure (pdf). The US’ Bechtel, PROJECAS, Home International and Canadian companies HATCH and SNC-Lavalin have all submitted offers for the USD 600 mn project. EgyptAlum did not disclose a date for […]
Posted inReal Estate + Housing
NUCA to hike land prices by 15-20% in 2019
The New Urban Communities Authority (NUCA) will raise its land prices by 15-20% in 2019, a government source said. The expected hikes will be gradual and based on how the real estate sector performs, the source said, adding that the authority has yet to set the final prices for 2019.
Posted inAutomotive + Transportation
Local car dealers call for Consumer Protection Authority intervention
Egypt’s Car Dealers Association (CDA) has called on the Consumer Protection Authority (CPA) to take the necessary action to prevent European auto dealerships from monopolizing the industry, according to Al Mal. The call comes two days after customs duties on fully assembled EU cars fell to 0%. The CDA said it wants traders to be […]
Posted inAutomotive + Transportation
Egypt in talks with at least six int’l automotive manufacturers to set up shop
The government is in talks with at least six global automotive manufacturers to set up full-scale operations in Egypt, Public Enterprises Minister Hisham Tawfik told Hona Al Asema’s Lama Gebril on Tuesday (watch, runtime: 5:37). “We are waiting for serious investors, someone who would go above 50k vehicles a year,” Tawfik said. The minister did […]
Posted inOther Business News of Note
Eight new companies join QIZ program
Eight new Egyptian companies joined the Qualified Industrial Zone (QIZ) program before the end of 2018, raising the number of participating companies to 1,004 from 996, local news reported. Egypt is trying to increase the number of exporting companies, said head of the Trade Ministry’s QIZ unit Ashraf El Rabie. QIZ exports increased 16% y-o-y […]
Posted inNational Security
Egypt, Saudi, Jordan, Djibouti, Yemen, Sudan conduct naval drills in Red Sea
Egyptian, Saudi, Jordanian, Djiboutian, Yemeni and Sudanese naval forces began on Tuesday joint exercises in Saudi’s Red Sea waters, according to an Armed Forces statement. The drills, which focused on naval warfare mobilization, are part of a strategy of cooperation between the participants to exchange expertise, the statement notes. Xinhua also has the story.
Posted inSports
Egypt’s Karim Abdel Gawad ranked fifth in PSA men’s world ranking
Egyptian squash champion Karim Abdel Gawad rose to the fifth spot in the Professional Squash Association’s men’s world ranking, after beating compatriot Ali Farag in the final match of the Black Ball Squash Open in Cairo, according to Inside the Games. Abdel Gawad was ranked ninth prior to the championship. Egypt’s Mohamed El Shorbagy remains […]