Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Assay results from Canada’s Aton Resources three drill holes at the Rodruin concession in the Eastern Desert confirm the presence of very high grade zones of mineralization with coarse gold, which point to a significant find, according to a press release from the company (pdf).
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
GASC purchases 180k tonnes of Russian wheat
The General Authority for Supply Commodities (GASC) purchased 180k tonnes of Russian wheat in an international tender on Thursday, according to Reuters’ Arabic service. Traders tell Reuters that the lowest offer GASC received in the tender was USD 233.95 per tonne FOB from Daewoo. The wheat is scheduled for delivery between 1-10 December.
Posted inManufacturing
Russian-Spanish consortium sign MoU to manufacture Dabaa plant components
The National Authority for Military Production signed an MoU on Saturday with Proton Technologies to locally manufacture components for the pipelines system that will be used to build the Dabaa nuclear power plant, according to Al Shorouk. Proton Technologies — a consortium comprised of Russia’s Tubes 2000 and Spain’s Tubacex — is expected to present […]
Posted inReal Estate + Housing
Sawiris in talks with NUCA to partner on residential project
Orascom Investment Holding’s (OIH) Naguib Sawiris is reportedly hoping to enter into a partnership agreement with the New and Urban Communities Authority (NUCA) to jointly develop land for a residential project in the Sheikh Zayed City extension, sources told Al Shorouk. OIH is looking to use funds from its recent USD 90 sale of subsidiary […]
Posted inAutomotive + Transportation
Finance Ministry to receive USD 150 mn loan from EBRD for Damietta-Mansoura freight line
The European Bank for Reconstruction and Development (EBRD) has agreed to give the Finance Ministry a USD 150 mn loan to finance the automation of the signaling system on the Damietta-Mansoura cargo railway line, Minister Hisham Arafat said, Al Shorouk reports. No further details were provided, but Arafat said that the government was planning to […]
Posted inBanking + Finance
EGPC receives USD 1 bn syndicated facility from HSBC-led consortium
The EGPC has reportedly received a USD 1 bn syndicated loan from an international and regional banking consortium led by HSBC, sources close to the matter tell Al Shorouk. The facility will be used to partially repay the debts owed by EGPC subsidiary, Petroleum Export Limited, to foreign partners. We had reported in July that […]
Posted inBanking + Finance
Local banks including Banque Misr to provide EGP 3 bn for new shopping mall in the Fifth Settlement
A number of local banks, including Banque Misr, are reportedly arranging a EGP 3 bn that will be used by a major Saudi developer to build a EGP 6 bn shopping mall in New Cairo, sources tell Al Masry Al Youm. The developer, who they refused to name, will supply the balance. No other details […]
Posted inBanking + Finance
AfDB receives request from Egypt to increase its stake by 800 shares
The African Development Bank’s (AfDB) board of directors is looking into Egypt’s request to acquire an additional 800 shares in the bank, AfDB Vice President Khaled Sherif tells Al Ahram. Sherif made no mention of the value of the shares, but said that the move would make Egypt AfDB’s second largest shareholder after Nigeria.
Posted inEgypt Politics + Economics
FinMin extends deadline to file for real estate tax exemption
The Finance Ministry extended the deadline for those looking to file their real estate tax exemption documents to 30 June, 2019, AMAY reports. Those with properties valued at less than EGP 2 mn, and not used for any rental or commercial purposes are eligible.
Posted inEgypt Politics + Economics
Khaled Ali banned from travel
An Egyptian judge issued a travel ban for former presidential candidate and rights lawyer Khaled Ali on suspicions of involvement in an illicit foreign funding case, Reuters reported, citing MENA. Other prominent activists, including Hossam Bahgat and Gamal Eid, are involved in this case, which dates back to 2011.