Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
US energy firm IPR has made two new oil discoveries in the Western Desert’s Ras Qattara concession and a third in the South Disouq concession, IPR Vice President Elsayed Shahin tells Al Shorouk. The company, which drilled 23 wells last year, has already begun production on the first two discoveries, according to Shahin.
Author Archives: enterpriseam admin
Posted inEnergy
NREA looking into feasibility of USD 800 mn worth of renewable energy projects
The New and Renewable Energy Authority (NREA) is studying the feasibility of wind and solar energy projects worth a combined total of USD 800 mn, NREA head Mohamed El Khayat told Al Borsa. The projects would be tendered under an EPC+Finance framework.
Posted inEnergy
El Sisi meets GE Chairman to talk future investments
President Abdel Fattah El Sisi met with General Electric Chairman John Flannery on Thursday to discuss the company’s future plans in Egypt, according to an Ittihadiya statement. Flannery reaffirmed his company’s commitment to completing its ongoing projects on schedule and looking into further openings for investment and cooperation.
Posted inBasic Materials + Commodities
Russian authorities ban two shipments of Egyptian potatoes, claiming contamination
Russia’s agricultural quarantine authorities flagged two potato shipments from Egypt, alleging that they were contaminated with potato brown rot, Agriculture Export Council head Abdel Hamid El Demerdash said, according to Youm7. The Trade and Industry Ministry confirmed the move but assured that this was not a blanket ban on potato exports to Russia and that […]
Posted inBasic Materials + Commodities
GASC purchases 240k tonnes of Russian and Romanian wheat in global tender
The General Authority for Supply Commodities (GASC) purchased 120k tonnes of Russian wheat and another 120k of Romanian wheat in an international tender on Thursday, Reuters’ Arabic service reports. The Supply Ministry said that Egypt’s wheat reserves would last 3.2 months, according to the wire service.
Posted inManufacturing
Korean consortium in talks to establish electronics industrial complex in Matrouh
A consortium of unnamed Korean companies is in talks to establish a 400-500 feddan electronics industrial complex in Matrouh, a governorate source tells Al Mal.
Posted inAutomotive + Transportation
Auto component manufacturers threats raise pressure to get Automotive Directive out
A number of auto components manufacturers are considering adding production lines for components for other industries or switching gears entirely due to falling car sales and the resulting shrinkage in the number of orders for auto parts, said head of the Egyptian Automotive Manufacturers Association Ali Tawfik. Those who have the ability to switch up […]
Posted inOther Business News of Note
Economic court sequesters Al Hayat TV’s trademarks for failing to repay debts to MBC
An economic court issued a ruling on Thursday to sequester Al Hayat TV’s trademarks due to the network failing to repay USD 6 mn of debts owed to MBC, Al Mal reported. MBC had raised a lawsuit after Al Hayat had fallen behind on its debt repayments to the Saudi network, according to the newspaper. […]
Posted inEgypt Politics + Economics
El Sisi green lights fund for families of terrorist attacks’ victims
President Abdel Fattah El Sisi has signed off on a fund to support the families of victims of terrorist attacks and those wounded or hurt during military operations, Al Shorouk reports. Based on a law recently approved by the House, the fund will cover education costs, as well as medical services, and Hajj. It will […]
Posted inNational Security
Egypt suspects Daesh using Israeli sim cards -sources
The Egyptian Army suspects Daesh terrorists in Sinai are using Israeli sim cards and that is why it is knocking out Israel's cellular networks in the region, sources said, according to JPost. “The Egyptian army is using technological means intentionally aimed at Israel's cellular networks. Israel knows about this and is doing nothing to prevent […]