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The Trade and Industry Ministry will not impose anti-dumping duties on Saudi steel imports, and will not investigate allegations that KSA is dumping its products in Egypt, head of the ministry’s anti-dumping department Ibrahim Al Segeny tells Al Mal. Anti-dumping tariffs are only imposed on Turkish, Chinese, and Ukrainian steel, El Segeny noted. Local steel […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Housing Ministry signs EUR 30 mn grant agreement with GIZ for slums development
The Housing Ministry signed yesterday a EUR 30 mn grant agreement with the German International Cooperation Agency (GIZ) to develop the infrastructure in nine slum areas in Cairo, Amwal Al Ghad reports. The projects, financed by the European Union and the German Federal Ministry for Economic Cooperation and Development, will be implemented in cooperation with […]
Posted inManufacturing
MOC Petroleum Recycling plans to build EGP 270 mn waste tire, rubber recycling plant
MOC Petroleum Recycling is planning to invest EGP 270 mn to establish a new waste tire and rubber recycling plant in Giza this year, VP Yehia Rafik tells Al Mal. The plant is expected to recycle 500 tonnes per day, Rafik said. The operating license for the plant is expected to be issued in the […]
Posted inTelecoms + ICT
SICO exports locally-made smartphones and tablets to Kuwait
SICO Technology has exported the first batch of its Egyptian-made Nile X smartphones and SICO Express 3 tablets to Kuwait, CEO Mohamed Salem tells Al Mal. The first batch includes 1200 smartphones and 2000 tablets, Salem adds. Nile X, which was introduced during Cairo ICT last year and went on sale locally back in February, […]
Posted inAutomotive + Transportation
SMG plans to bring electric Porsche Taycan in Egyptian markets by 2020
SMG Engineering Automotive, the distributor of Porsche cars in Egypt, is planning to launch the all-electric Porsche Taycan in Egypt by 2020, SMG boss Ibrahim El Ghattas tells Al Mal. SMG is currently in talks with Porsche AG to test the Egyptian market’s appetite for the cars. Taycan cars will debut in European markets by […]
Posted inOther Business News of Note
200 Egyptian, “hundreds” of foreign companies apply for prequalification in GEM operations tender
Around 200 Egyptian companies and “hundreds” of foreign companies have applied for prequalification for the tender to manage and operate the Grand Egyptian Museum’s facilities, GEM supervisor Tarek Tawfik said yesterday. The USD 1 bn museum will host a number of facilities, including a conference center, cinema, and restaurants. Investors have until 21 August to […]
Posted inNational Security
British senior defense advisor meets with Egyptian Armed Forces officials
British Senior Defense Advisor John Lorimer met yesterday with several Egyptian Armed Forces officials in Cairo to discuss “shared challenges and threats” and security cooperation between Egypt and the UK, Ahram Online reports. Lorimer stressed the UK’s commitment to improving Egypt’s security, which he said is a key component of safeguarding the UK’s safety.
Posted inON YOUR WAY OUT
Trezeguet’s transfer to Czech football club SK Slavia Prague falls through
Egyptian winger Mahmoud “Trezeguet” Hassan’s move to Czech football club SK Slavia Prague has fallen through, King Fut reports. Slavia Prague had reportedly agreed to pay the EUR 5 mn required to release Trezeguet from his current contract with Kasimpasa — the Turkish club Trezeguet currently plays for. However, the transfer “didn’t work out” after […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.84 | Sell 17.94 EGP / USD at CIB: Buy 17.85 | Sell 17.95 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Wednesday): 15,579 (+1.0%) Turnover: EGP 754 mn (21% below the 90-day average) EGX 30 year-to-date: +3.7% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
23 July (Monday): Revolution Day, national holiday. 26-28 July (Thursday-Saturday): Green Banking: The Road to Sustainable Development, Baron Palace, Sahl Hasheesh, Hurghada. 30 July (Monday): Finance Minister Mohamed Maait will address the American Chambers of Commerce on Egypt’s financial reform agenda. 05 August (Sunday): Egypt’s PMI reading for July released. 16 August (Thursday): CBE’s Monetary […]