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Arabs may have used this ancient Semitic alphabet before Arabic was invented: Recently discovered rocks engraved with Safaitic inscriptions are shedding light on a mysterious period in the history of pre-Islamic Arabia,changing decades of academic consensus and rewriting the history of the region, Elias Muhanna writes for the New Yorker. One recent find was a […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Saudi Arabia’s new regulations on Egypt agro imports come into effect on 13 July
Saudi Arabia’s new regulations on imports of Egyptian agricultural products will come into effect on 13 July, Al Masry Al Youm reports. The regulations include limiting KSA’s imports to Egyptian suppliers approved by and registered with the Saudi Food and Drug Authority, as well as requiring suppliers to provide a certificate from a certified testing […]
Posted inEnergy
El Molla discusses ongoing projects with Dana Gas CEO
Oil Minister Tarek El Molla met with Dana Gas CEO Patrick Allman-Ward on Thursday to discuss the latest in the UAE-based company’s ongoing projects in Egypt, which include concessions in the Nile Delta and the Mediterranean coast off of North Sinai, according to a ministry statement.
Posted inBasic Materials + Commodities
Centamin cuts output targets on lower grade gold, shares drop 18%
Gold miner Centamin has cut its 2018 output to 505k-515k ounces from a previous forecast of 580k ounces due to lower grade gold at its Sukari mine in Egypt, according to a company release. The London-listed miner also raised its cost expectations for producing an ounce of gold to USD 875-890 an ounce from a […]
Posted inManufacturing
Toshiba looks to expand partnership with Elaraby on manufacturing projects
Japanese electronics giant Toshiba is planning to expand its partnership with Elaraby Group, Chairman Mahmoud Elaraby said on Thursday, Al Shorouk reports. A delegation from Elaraby visited the Japanese company last week to discuss ways to expand the scope of their 40 year-old partnership. Elaraby was sparing on the details, saying only that new agreements […]
Posted inManufacturing
IDA plans to deliver 3 ready and licensed industrial complexes to investors by June
The Industrial Development Authority (IDA) will be delivering three ready and licensed industrial complexes to investors in Sadat City, Port Said and El Raswa in early June, IDA authority chief Ahmed Abdel Razek said, Youm7 reports. Construction on three additional complexes in 10 Ramadan City will begin in July, he added.
Posted inReal Estate + Housing
Economic Court rejects Golden Pyramids’ appeal against OCI
The Cairo Economic Court rejected on Wednesday an appeal filed by Golden Pyramids Plaza against a court of arbitration ruling from March 2015, which ordered Golden Pyramids to pay Orascom Construction Industries (OCI) and Consolidated Contractors International EGP 260.8 mn and USD 43.4 mn plus interest, Golden Pyramids said in a bourse filing (pdf). The […]
Posted inAutomotive + Transportation
Transport Minister meets with EIB to talk funding for Egypt’s transport projects
Transport Minister Hisham Arafat met with a delegation from the European Investment Bank to talk funding packages for Egypt’s transport projects, including a EUR 380 mn loan for the development of Cairo Metro Line 1, Al Mal reports. The loan comes as part of a EUR 600 mn agreement from the EIB, the European Bank […]
Posted inAutomotive + Transportation
Revolta plans to build 300 electric vehicle charging stations by 2020
Revolta Egypt plans to have built 300 electric vehicle charging stations across the country by 2020, according to founder Mohamed Mostafa. Trade and Industry Minister Tarek Kabil had inaugurated back in February the first of 65 charging points that Revolta plans to construct under phase-one of its plan, which is expected to cost as much […]
Posted inEgypt Politics + Economics
Presidential decree allows PM to seize land under eminent domain
President Abdel Fattah El Sisi issued a decree on Thursday granting the prime minister powers to exercise presidential rights under the Eminent Domain Act. The law allows the president to seize privately-owned land under eminent domain and offer compensation that includes a 20% premium on the value of the land.