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Mummy juice tops coverage of Egypt in the foreign press: Almost 20,000 people (and counting) have signed on to a online petition calling on the Egyptian government to allow people to drink the liquid found inside the mysterious black sarcophagus unearthed in Egypt earlier this month, which is once again topping coverage of Egypt in […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Elsewedy, Arab Contractors bidding to build USD 3 bn hydroelectric dam in Tanzania
Elsewedy Electric and Arab Contractors are among five companies that were shortlisted in the tender for a USD 3 bn hydroelectric dam over Tanzania’s Rufiji River, CEO Ahmed El Sewedy tells Al Mal, without naming the other suitors. The Tanzanian government is expected to secure funding for the 2.1 GW project, which received prequalification offers […]
Posted inDiplomacy + Foreign Trade
Elabbar discusses Egypt investment plans with tourism minister, PM
Emaar Chairman Mohamed Alabbar met with Tourism Minister Rania Al Mashat on Thursday to discuss future investment plans in Egypt, which include a plan to spend EGP 6 bn to develop six hotels by 2021 in the company’s North Coast project Marassi. Elabbar also met with Prime Minister Mostafa Madbouly to discuss the UAE-based company’s […]
Posted inEnergy
Apache plans to drill 3 wells in Western Desert by end-2018
Apache Corporation plans to begin drilling three out of seven planned wells in the Western Desert by the end of 2018, Oil Ministry sources tell Al Shorouk. The company expects the wells to produce an initial 5,000 bopd. The EGPC had signed last week a USD 9 mn oil and gas exploration agreement with Apache […]
Posted inBasic Materials + Commodities
Egypt to begin exporting tomatoes, grape seeds to Canada, Morocco
Egypt will begin exporting tomatoes to Canada and grape seeds to Morocco for the first time, Agriculture Minister Ezzedin Abu Steit said, Al Mal reports. Egypt is taking the final administrative procedures to begin exporting these products, Agricultural Quarantine Authority head Ahmed El Attar said, without disclosing when the exports are expected to begin.
Posted inReal Estate + Housing
Emaar Misr withdraws from developing 410 feddans in Sheikh Zayed over high prices
Emaar Misr has decided to withdraw from developing two areas in Sheikh Zayed and the Sheikh Zayed extension over high land prices, an unnamed company official tells Al Shorouk. Emaar had submitted a bid to develop a 410-feddan land plot in Sheikh Zayed at a cost of EGP 4,750 per sqm and another bid to […]
Posted inAutomotive + Transportation
Transport Ministry to issue conditions for purchase of 100 locomotives next year
The Transport Ministry will likely issue the terms and conditions for an international tender to supply 100 new locomotives by the beginning of 2019, Al Shorouk reports. The ministry has contracted an international consulting firm to prepare the conditions, which will be financed through a EUR 290 mn loan from the European Investment Bank.
Posted inBanking + Finance
Independent financial advisor puts Qalaa Holdings fair value at EGP 6.34 per share
Qalaa Holdings shares are valued at EGP 6.34 per share, according to a fair value report conducted by independent financial adviser RSM Egypt, the company said in a statement on Thursday (pdf). The FV report came at the behest of the Financial Regulatory Authority.
Posted inNational Security
Leader of terrorist group Wilayet Sinai announced dead
A leader of the Egypt-based Daesh offshoot Wilayet Sinai was killed, the terrorist group announced without providing details on when or how he died, Reuters reports.
Posted inSports
Rowan Elaraby, Mostafa Asal win WSF World Junior Squash Championships
Egyptian squash champions Rowan Elaraby and Mostafa Asal won the women’s and men’s WSF World Junior Squash Championships in Chennai, India yesterday after an all-Egyptian final round, according to a statement. Elaraby beat compatriot Hania El Hammamy 3-1, while Asal defeated defending champion Marwan Tarek 3-0.