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25 domestic and international companies have expressed their interest in bidding on a tender for a 50 MW solar power plant in Zaafarana, New and Renewable Energy Authority (NREA) sources said. The list of potential bidders includes PowerChina, Sterling & Wilson, Infinifity Solar, EDF, Scatec Solar, a First Solar-Elsewedy Electric consortium, GDF, Masdar, and Sky […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt to export 100k tonnes of grapes, but faces stiff competition
Egypt is expected to export 100k tonnes of table grapes this year, head of produce brand Trade Waves Ahmed El Hodaiby said, Ecofin Agency reports. However, Egyptian red grapes will face some challenges in the European market due to higher supply from Chile and South Africa and lower prices offered by China. “The Chinese grapes […]
Posted inHealth + Education
Pentamed Ltd to establish EGP 2 bn hospital at Al Shorouk
Pentamed Ltd is planning to build a EGP 2 bn fully-integrated hospital in Shorouk City as part of its expansion plans in Egypt’s health care sector, the company’s Financial Manager Mohamed Abdelati said, Al Mal reports. The company had earlier purchased a three-acre land plot for EGP 75 mn and an unnamed French company will […]
Posted inTourism
Holy Family cave to open its doors June 1, aims to promote religious tourism
Egypt will inaugurate early Friday the Holy Family cave in Matareya as part of the Tourism Ministry’s strategy to promote religious tourism in Egypt, Al Masry Al Youm reports.
Posted inBanking + Finance
NI Capital’s Tamweely targets larger branch network by 2019
The state-owned NI Capital’s microfinancing arm Tamweely is looking to expand geographically and grow its number of branches to 15 across the country by 2019, Chairman Amr Aboul Azm said. Tamweely is hoping to set up shop in at least five governorates in Upper Egypt.
Posted inLegislation + Policy
Draft law on commercial shops requires restaurants to install surveillance cameras
A draft law regulating shops in public spaces would require restaurants and shop owners to install indoor and outdoor surveillance cameras in order to obtain a license, Al Monitor reports. The legislation would also prevent shops without cameras from getting their licenses renewed. The law, which some MPs have touted as necessary for security purposes […]
Posted inEgypt Politics + Economics
State security prosecutor detains FIHC head, Supply Ministry officials on charges of graft
Egypt’s state security prosecutor ordered yesterday the detention of Food Industries Holding Company head Alaa Fahmy and three Supply Ministry officials for four days pending investigations into charges of corruption and graft, Reuters reports. The Administrative Control Authority had arrested the four suspects on Tuesday for allegedly taking EGP 2 mn in bribes from an […]
Posted inON YOUR WAY OUT
The Coptic Christian who teaches Quran in Minya
Coptic Christian teacher Iyad Shaker Hana has been teaching Quran to the children of Minya for over 50 years. The 85 year-old has taught Arabic, math, and religion to generations of Muslim and Christian children in his village. His class has grown from a few students to over 120 over the years, “all because of […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.96 EGP / USD at CIB: Buy 17.87 | Sell 17.97 EGP / USD at NBE: Buy 17.80 | Sell 17.90 EGX30 (Wednesday): 16,760 (-1.4%) Turnover: EGP 969 mn (15% BELOW the 90-day average) EGX 30 year-to-date: +11.6% THE MARKET ON WEDNESDAY: The EGX30 ended […]
Posted inCALENDAR
14 June (Thursday): 2018 World Cup kickoff match between Russia and Saudi Arabia, Moscow, Russia. 15 June (Friday): Egypt’s first 2018 World Cup match against Uruguay, Yekaterinburg, Russia. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 19 June (Tuesday): Egypt plays […]