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Women in Saudi Arabia have begun driving for ride-hailing app Careem just weeks after the kingdom began issuing driving licenses to women, according to the Wall Street Journal. The benefits of incorporating women into Careem’s workforce is not lost on the company or its clientele — Careem anticipates a surge in demand for its service […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Italy FM to visit Egypt soon
Italian Foreign Minister Enzo Moavero Milanesi is expected to visit Egypt some time soon, state-owned Al Ahram reports. Milanesi’s visit will be his first by a sitting Italian Prime Minister to Egypt since the death of Italian student Giulio Regeni in Cairo back in 2016.
Posted inDiplomacy + Foreign Trade
KfW plans to provide EUR 30 mn to fund hydroelectric plants in Delta, Qanater
The German development bank KfW is planning to provide EUR 30 mn in funding to construct small scale hydroelectric plants at seven different sites in Egypt’s Al Delta and Al Qanater, according to an unnamed source at the Electricity Ministry.
Posted inEnergy
EEHC receives 5 offers for USD 250 mn worth of waste-to-energy projects
Five foreign power distribution companies have presented offers to the Egyptian Electricity Holding Company (EEHC) for USD 250 mn worth of waste-to-energy (WtE) projects, unidentified government sources tell the local press. The proposals came from Emirati, Chinese, Indian, and Canadian companies looking to construct WtE power plants using biogas and burnable agricultural waste with production […]
Posted inEnergy
KIMA denies seeking EUR 20 mn loan to finance Aswan fertilizer facility expansion
The Egyptian Chemical Industry Company (KIMA) is not in talks with the Indian International Cooperation Agency for a EUR 20 mn loan, the company said in a statement to the EGX (pdf). The local press had reported earlier this week that the company was seeking the funding to add a new production unit to the […]
Posted inBasic Materials + Commodities
GASC purchases 175k tonnes of Russian wheat
The General Authority for Supply Commodities (GASC) purchased 175k tonnes of Russian wheat in an international tender yesterday, according to Reuters’ Arabic service. The wheat is scheduled for delivery between 21-31 August.
Posted inHealth + Education
Education services outfit in talks with local banks for EGP 600 mn loan to construct a new university
Newly-established education outfit the Egyptian International Company for Education Services (EICES) is in talks with several local banks to borrow EGP 600 mn to finance the construction of Akhnaton University, which the company plans to set up in Wadi El Natroun, Al Mal reports. The university is expected to cost EGP 1 bn to construct, […]
Posted inTourism
Colliers International forecasts 13% rise in Hurghada’s hotel occupancy rates in 3Q2018
Hotel occupancy rates in Hurghada are expected to rise 13% y-o-y from June-August 2018 to reach 61%, Colliers International said in a report on MENA hotels (pdf). The report highlights Hurghada as one of the season’s hot spots, saying that “the Red Sea resort continues to benefit from positive security perception and chartered flights from […]
Posted inAutomotive + Transportation
Organization for Standardization sets 42 new standards for the vehicles
The Trade Ministry’s Organization for Standardization (EOS) has apparently issued a decision on Tuesday enforcing some 42 new standards for both imported and locally assembled cars, Al Mal reports. The EOS had been trying to implement these standards since 2016, which, according to the Federation of Egyptian Industries (FEI), were the first new quality control […]
Posted inAutomotive + Transportation
Transport Ministry issued terms and conditions for electrical rail, monorail projects
The Transport Ministry issued yesterday the terms and conditions for the tenders for the Alamein-Ain Sokhna electric rail and the new capital-6 October City monorail projects, Youm7 reports. The tender will be open to 10 global consortiums that prequalified for the first project and seven consortiums that qualified for the second. The combined investment value […]