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Dubai-based trader AOS has failed to deliver two of its wheat cargoes to Egypt, which may force the government to tap international wheat markets sooner than expected to maintain wheat reserves, Reuters reports. Supply Minister Ali El Moselhy tells the newswire that the company was given two extensions for delivering the wheat but had failed […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
116k feddans of the 1.5 mn feddans project was cultivated
Almost 116k feddans of the 1.5 mn feddans project was cultivated in FY2017-18, according to a CAPMAS release. Minya topped the list with 70,000 feddans (accounting for 60.5% of the total cultivated area), followed by Matrouh with 35,000 feddans (30.3%) and El Wadi El Gedid with 10,000 (8.6%). The Egyptian Countryside Development Company announced last […]
Posted inManufacturing
Military Production Ministry eyes cooperation with Portugal to manufacture tablets, laptops
Military Production Minister Mohamed El Assar met yesterday with the CEO of Portuguese electronic product design company JP Sá Couto to discuss potentially cooperating in manufacturing electronic tablets and laptops, according to state news agency MENA.
Posted inReal Estate + Housing
Misr Italia buys 110 feddans for EGP 9 bn project in new capital
Real estate developer Misr Italia Properties has purchased a 110 feddan plot in the new capital to build an EGP 9 bn project, Al Mal reports. The company is currently in talks with global consultants and architects to join the project.
Posted inTelecoms + ICT
TE to settle with Etisalat, Orange for EGP 1.2 bn
Telecom Egypt (TE) will pay EGP 1.2 bn to Etisalat Misr and Orange Egypt to settle past and long-standing disputes which had gone through arbitration proceedings, the company said in its general assembly minutes (pdf). TE will pay Etisalat the lion’s share of EGP 924 mn over TE withholding payments for using Etisalat’s network to […]
Posted inBanking + Finance
CBE instructs banks to verify licensing of charities before accepting donations
The CBE has instructed banks to make sure NGOs and charities have the required licenses from the Social Solidarity Ministry as per the 2017 NGOs law before opening accounts for them to receive clients’ donations.
Posted inEgypt Politics + Economics
Egypt holds first workers union elections after Labor Unions Act’s passage
Egypt held the first workers union elections in 12 years yesterday, Gulf News reports. The vote comes six months after the contentious Labor Unions Act, which regulates the formation and activities of workers unions, passed the House of Representatives. The legislation earned the ire of many as it made its way through Parliament, including the […]
Posted inEgypt Politics + Economics
Nation's Future becomes the largest party in the House
The Nation’s Future Party now has the largest number of seats in the House of Representatives with nearly 350 MPs, Deputy Chairman Alaa Abed tells Al Shorouk. The rapidly growing party is quickly rising to the top with dozens of MPs defecting from other parties to join. Over 50 members of the Free Egyptians Party […]
Posted inEgypt Politics + Economics
Gov’t working on national strategy for economic development of lakes
The government is studying ways to develop the country’s lakes and develop a national strategy to make use of them commercially, according to a statement from the Ismail Cabinet. The national strategy to develop lakes aims to address issues including pollution, climate change, and overfishing, as well as to facilitate investment in sustainable fish farming.
Posted inEgypt Politics + Economics
Egypt top prosecutor refers 40 to trial on human trafficking
Prosecutor General Nabil Sadek referred 40 suspects to trial yesterday on a host of charges including human trafficking, migrant smuggling, bribery, and forging official documents, the Associated Press reports. If convicted, the suspects could face prison sentences of up to 15 years. The prosecution is yet to set a date for the trial.