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El Sisi stresses importance of Yemen’s stability to Middle East, Egyptian security: Yemen’s stability is “of extreme importance” to the security of Egypt and the Middle East as a whole, President Abdel Fattah El Sisi said during a meeting yesterday with Yemeni President Abdrabbuh Mansur Hadi, according to an Ittihadiya statement (pdf). El Sisi and […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Kuwait to continue enforcing strict inspection measures on Egyptian agricultural imports for three months
Kuwait to continue enforcing strict inspection measures on Egyptian agricultural imports for three months: Kuwait’s Public Authority for Food and Nutrition (KPAFN) reportedly decided to continue enforcing strict inspection measures on Egyptian agricultural imports for another three months as of 25 July, unnamed Egyptian quarantine officials said yesterday. The decision was based on a recommendation […]
Posted inEnergy
ANRPC to begin doubling 92-95 octane production next month
The Alexandria National Refining and Petrochemicals Company (ANRPC) will begin next month producing 850k tonnes of 92-95 octane petrol, doubling its annual capacity, Oil Minister Tarek El Molla said yesterday, Al Mal reports. Enppi and Petrojet, general contractors on the project, had completed 81% of the necessary work on the project at the time.
Posted inBasic Materials + Commodities
GASC issues two tenders for unspecified amount of wheat
The General Authority for Supply Commodities (GASC) issued yesterday two international tenders for an unspecified amount of wheat, to be shipped between 21 and 30 September, and 1 and 10 October, according to Reuters’ Arabic service. The tender results are expected to be announced later today. Egypt’s last tender saw it purchase wheat at record-high […]
Posted inBasic Materials + Commodities
Egypt has 6 months of sugar in stock, Supply Ministry says
Egypt has enough strategic sugar reserves to last for six months, the Supply Ministry said yesterday, without specifying the exact quantity, Reuters reports. Egypt is expected to produce c. 2.3 mn tonnes of sugar by this year’s end and consume around 3 mn tonnes, “filling the gap with imports,” according to the newswire.
Posted inManufacturing
AIG’s new antibiotics factory to go online end-2018
Arabian International Group’s (AIG) new EGP 200 mn antibiotics factory is set to begin operating by the end of this year, Chairman Aly Ouf said yesterday. The new facility, which will be operated and managed by AIG, is owned by five unnamed local investors. AIG has not yet disclosed any details about doxycycline-info.net capacity but […]
Posted inAutomotive + Transportation
Careem plans to roll out bus-hailing service, starting with Egypt
Ride-hailing app Careem is planning to roll out a bus-hailing service, starting with “at least four Egyptian cities,” people close to the matter tell Bloomberg. The new service, the plans for which have yet to be made public, is expected to be launched in September. “The people did not disclose how much the Dubai-based company […]
Posted inBanking + Finance
United Bank to launch microfinance unit by year’s end
The United Bank of Egypt is planning to launch a specialized microfinance unit by the end of 2018, Chairman Ashraf El Kady tells Al Mal. The Egyptian Microfinance Union will be cooperating with the bank to provide technical support during the unit’s launch, El Kady said. No additional details were provided.
Posted inBanking + Finance
National Cement Company files for delisting
The National Cement Company has filed papers with the EGX to delist its 103.2 mn shares, according to an EGX statement picked up by Al Mal.
Posted inOther Business News of Note
Religious Endowments Authority to re-issue tender to restructure its asset portfolio
The Religious Endowments Authority is planning to re-issue a tender to select an asset management company to take the lead on restructuring its asset portfolio, Al Mal reports. The tender will officially be announced following the Eid Al Adha break, according to authority head Sayed Mahrous. The authority had reportedly tapped EFG Hermes, Beltone, and […]