Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Egypt’s total grain storage capacity will reach 3 mn tonnes in 2019 after the addition of four new solios with a combined capacity of 250k tonnes, the Holding Company for Silos and Storage said, according to Al Shorouk. The Supply Ministry had said earlier this year that Egypt’s wheat storage capacity will reach 3.9 mn […]
Author Archives: enterpriseam admin
Posted inManufacturing
Domty plans new local investment as it temporarily shelves African expansion strategy
Domty will be committing new capital to the local market in the coming months after the company decided to postpone plans to expand further into Africa given the continent’s current currency problems, Vice Chairman Mohamed El Damaty said, according to Al Shorouk. The company’s new investments are expected to significantly boost output and help increase […]
Posted inReal Estate + Housing
Elsewedy Electric looks to build tech-focused university in Upper Egypt
Elsewedy Electric CEO Ahmed El Sewedy is looking to obtain land in Upper Egypt to establish a tech-focused university in the new Nasser City in Asyut, Al Mal reports. Prime Minister Moustafa Madbouly welcomed the proposal during a meeting yesterday. No further details were provided.
Posted inTourism
Airport Holding Company to re-issue tender for Ras Sudr airport for third time
Officials from the Airport Holding Company (AHC) and Tourism Development Authority (TDA) are scheduled to meet this week to discuss the procedures for relaunching the tender for the EGP 2 bn Ras Sudr airport for the third time, Al Shorouk reports. Sources said last week that the second tender, which was launched after the first […]
Posted inTelecoms + ICT
Telecom Egypt, Fiber Misr sign smart city IT infrastructure agreement
Telecom Egypt signed an agreement with Fiber Misr to provide telecommunications and IT infrastructure for the smart city systems being developed at Egypt’s new cities, Al Mal reported on Thursday.
Posted inBanking + Finance
Saudi Re wants to grow its Egypt reinsurance business
Saudi Re for Cooperative Reinsurance Company (Saudi Re) wants to grow its Egypt reinsurance business by focusing on major development projects, company CEO Fahad Al-Hesni said. “Given our long-standing commitment to this market, Saudi Re aims to further expand in the Egyptian market and seeks to provide reinsurance support to major projects in Egypt’s engineering, […]
Posted inBanking + Finance
Egypt state companies to settle EGP 80-100 bn in debt owed to NIB
President Abdel Fattah El Sisi and the Madbouly Cabinet approved a plan for state-owned companies to settle EGP 80-100 bn in debts owed to the state’s National Investment Bank (NIB), Al Mal reported on Thursday. The debt will be swapped for assets belonging to those companies, Planning Minister Hala El Said reportedly said. A second […]
Posted inOther Business News of Note
CIAF to buy 12 EgyptAir planes for USD 100 mn
Aircraft lessor, the Civil Aviation Finance Holding Company (CIAF), is planning to buy 12 EgyptAir planes for USD 100 mn in auction next month, CIAF Chairman Hassan Mohamed said on Thursday. The company plans to overhaul the planes and lease them out to airlines in Chad, Ghana, and Cameroon, he added.
Posted inSports
Egypt rises six spots in FIFA global football rankings to 58
Egypt’s national football team has climbed six positions to the 58th best team in the latest FIFA/Coca Cola World Ranking. The Pharaohs are 9th in Africa and third among Arab countries. The climb restored our position among the top 10 in Africa after the post-World Cup plunge in August.
Posted inON YOUR WAY OUT
Philip Morris launches anti-smoking campaign in the UK
When the Marlboro Man tells you it’s time to quit smoking… Tobacco giant Philip Morris has launched an anti-smoking campaign in the UK in which it claims to envisage a future devoid of smoke, according to Reuters. The move, which is drawing the ire of some organizations that campaign against smoking, is part of the […]