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Egypt successfully mediated a truce between Hamas and Israel on Thursday night after a two-day flare up of violence, but the two sides have yet to reach a longer-term ceasefire agreement, according to the Associated Press.
Author Archives: enterpriseam admin
Posted inEnergy
Jordan, Egypt ink agreement on gas supply resumption
Oil Minister Tarek El Molla and his Jordanian counterpart Hala Zawati renewed a natural gas sale and purchase agreement, under which Cairo will export 10% of Amman’s natural gas needs, Jordan Times reports. Both sides reportedly signed the initial agreement in 2014 but Egypt failed to meet the amount of natural gas it was agreed […]
Posted inInfrastructure
SCZone in talks with Cairo 3A to construct multi-purpose platform in Port Said
The Suez Canal Economic Zone (SCZone) is currently in talks with Cairo 3A to construct a multi-purpose platform at the East Port Said Port, SCZone head Mohab Mamish tells Al Mal. Mamish did not disclose the expected investment value for the project.
Posted inBasic Materials + Commodities
Gov’t extends 13.5% moisture limit for another nine months
The government approved allowing shipments of wheat with moisture levels of up to 13.5% for an additional nine months as of July in a bid to promote competition among different origins at its state tenders, according to a Supply Ministry statement. This is the second extension granted to the order, which was first issued in […]
Posted inBasic Materials + Commodities
Egypt to remain a major importer of US soybeans for the next five years thanks to higher demand
Egypt is expected to remain a “major importer” of US soybeans for the next five years, according to a report by the US Foreign Agricultural Service (FAS) published in July. US soybean exports to Egypt were up 202% y-o-y between January and May, with forecasts seeing total soybean imports surpassing 1.75 mn tonnes this fiscal […]
Posted inBasic Materials + Commodities
Egypt expresses interest in unmilled medium-grain white rice from Missouri
Egypt is reportedly looking to buy unmilled rice from the US, and has contacted suppliers in Missouri, according to Ozarks First. No details were provided, but the government had recently signed off on a decisionallowing rice imports after legislation was issued to ban the cultivation of water-intensive crops such as rice and wheat. We had […]
Posted inBasic Materials + Commodities
Juhayna not planning to hike prices
Leading dairy and juice producer Juhayna is not planning to raise its product prices in response to the latest hike in the cost of energy and fuel, External Communications Head Passant Fouad tells Al Mal, noting that energy does not constitute a “large share” of the company’s overall costs. Cheesemaker Obour Land had previously said […]
Posted inHealth + Education
CanWell Education in talks to rent TMG hotel in Madinaty for student housing
CanWell Educational Consultants is in talks with TMG Holding to rent one of its hotels in Madinaty and turn it into dorms for University of Canada students in Egypt, CanWell CEO Ramy Sallam tells Al Mal. The university is eyeing Madinaty for its proximity to the new administrative capital, where the university is being built, […]
Posted inTelecoms + ICT
Etisalat Misr, TE expected to sign fixed line service agreement “within weeks”
Etisalat Misr expects to sign the final contracts to offer fixed line services through Telecom Egypt’s infrastructure with the state-owned landline monopoly “within weeks,” Etisalat Misr Chief Corporate Affairs Officer Khaled Hegazy tells Al Mal. The mobile network operator is currently preparing the service packages it will offer to customers, according to Hegazy. TE and […]
Posted inBanking + Finance
FRA issues regulations for SME reinsurance organizations
The Financial Regulatory Authority (FRA) issued regulations and guidelines for NGOs and civil society organizations selling insurance policies to SMEs and their founders, Youm7 reports. These rules include limiting each licensed NGO to selling insurance policies by a single insurance provider, informing FRA of any changes to reinsurance contracts signed with the main provider, and […]