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The US is reportedly in talks with Egypt to include tech products and leather-made goods as part of the Qualified Industrial Zones (QIZ) agreement between Egypt, the US, and Israel, sources tell Al Shorouk. Most of Egypt’s exports through the QIZ agreement are textiles and ready-made clothes.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt signs USD 130 mn worth of agricultural export contracts at Berlin trade show
Egyptian companies signed USD 130 mn worth of agricultural export contracts at the Fruit Logistica trade show in Berlin last month, according to a Trade and Industry Ministry statement.
Posted inEnergy
SDX announces oil discovery in West Gharib
SDX Energyannounced making an oil discovery at its Rabul 5 Well in the West Gharib Concession. SDX controls 50% of working interest and is joint operator in the well. “Further evaluation of the discovery is ongoing, after which the Company expects the well to be completed as a producer and connected to the central processing […]
Posted inBasic Materials + Commodities
Beheira to launch agricultural “commodities exchange” in September
Beheira is on track to launch its agricultural commodities exchange in September, the exchange’s project manager tells Al Masry Al Youm. President Abdel Fattah El Sisi had ordered the establishment of the exchange, which resembles more a market than the CME, last year as part of his strategy to spur development in the Western regions […]
Posted inBasic Materials + Commodities
GASC launches global wheat tender for April delivery
The General Authority for Supply Commodities (GASC) issued a tender yesterday for an unspecified amount of wheat for delivery by 15-25 April, Ahram Gate reports.
Posted inTourism
Egypt’s occupancy rates expected to rise significantly in five years, Colliers says
Hotel occupancy rates across Egypt are expected to rise significantly as the hotel sector stabilizes over the next five years, Colliers International’s Christopher Lind said at the Cityscape Egypt Conference, according to Daily News Egypt. The company foresees Cairo occupancy to increase to 69%, while Hurghada’s occupany is expected to reach 61%. Sharm El Sheikh’s […]
Posted inTourism
Egypt among top summer 2018 destinations for German tour operators
Egypt is one of a few Eastern Mediterranean top destinations for summer 2018 as announced by German tour operators, tourism portal FVW reports. The double-digit increase in Eastern Mediterranean destination trends, comes after Germans topped the list of tourist arrivals in Egypt in 2017 with 1.23 mn tourists.
Posted inTourism
Egypt sees 60% surge in 2017 Chinese tourist arrivals
The number of Chinese tourists visiting Egypt jumped 60% y-o-y in 2017 to c. 287k, Chinese Ambassador to Egypt Song Aiguo said yesterday during a press conference at the embassy, Al Borsa reports.
Posted inTelecoms + ICT
ITIDA to host forensic lab to combat intellectual property theft
The government is setting upa specialized digital forensic lab for intellectual property to combat software piracy that will be hosted at the Information Technology Industry Development Agency (ITIDA). The lab “is mainly designed to resolve business software and internet-based piracy cases. It authentically recovers data from digital devices and unearths new fraud techniques.” The cabinet […]
Posted inOther Business News of Note
Oriental Weavers plans to acquire assets worth EGP 147.6 mn this year
Oriental Weavers is planning to acquire assets worth EGP 147.6 mn this year, Al Borsa reports, without providing further details on the nature of these assets. The company had previously announced that it intends to invest around EGP 480 mn in 2018 to purchase new looms and spinning machinery.