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INVESTMENT WATCH- Sumitomo Electric Wiring Systems Egypt is planning to invest EGP 100 mn to expand its automotive wiring harness factory in Port Said, the company’s Managing Director Ahmed Magdy said, Al Mal reports. The Japanese-British firm recently inaugurated a new EGP 1 bn production line at its 6 October City factory, bringing the company’s […]
Author Archives: enterpriseam admin
Posted inSpeed Round
IDEMIA Egypt to invest EUR 70 mn after presidential election
INVESTMENT WATCH- IDEMIA is planning to invest EUR 70 mn in Egypt after the March presidential election, the company’s government relations officer tells Al Mal. The company, a digital security and identification technologies developer formerly known as OT–Morpho, has created national identification databases in India, Kenya, and Dubai, the official said.
Posted inSpeed Round
Dana Gas to begin drilling in Mediterranean concession in 2H2018
The UAE’s Dana Gas is set to start drilling operations on the first well in its Mediterranean concession in Egypt in 2H2018, EGAS sources tell Al Shorouk. The company has excess liquidity that it will deploy to new projects in Egypt, including the drilling of three wells in its Delta concession, especially as it continues […]
Posted inSpeed Round
NACCUD to tender 2,500 feddans in new administrative capital in May
Land tenders in new administrative capital coming in May, holding company could consider EGX listing: The New Administrative Capital Company for Urban Development (NACCUD) will issue tenders for 2,500 feddans for development in the new capital in May, company managing director Mohamed Abdel Latif tells Al Borsa. Separately, NACCUD is planning to become a holding […]
Posted inSpeed Round
Trade and Industry Ministry lifts anti-dumping tariffs on Indian, Chinese bus and truck tires
The Trade and Industry Ministry has decided to lift anti-dumping tariffs on bus and truck tires imported from China and India, head of the ministry’s international trade policies department Ibrahim El Seginy tells Al Mal. The ministry has also lifted anti-dumping tariffs on Chinese porcelain products and home appliances.
Posted inSpeed Round
Alexandria transport authority to issue tenders for 30 tram units this year
The Alexandria Passenger Transportation Authority is planning to issue tenders for 30 new tram cars this year, General Manager Ali Abdel Moneim tells Al Mal. The Authority also signed a USD 17.5 mn contract with a Ukrainian company to provide 15 new tram cars for the city line. In addition, several bodies including the Public […]
Posted inSpeed Round
Shoukry meets US special envoy on Qatar a day after Sisi and Trump talk Syria, Iran, and Russia
Foreign Minister Sameh Shoukry met with a US delegation headed by Special Envoy Anthony Zinni yesterday to discuss updates on the Qatar boycott, a ministry statement said. This came one day after US President Donald Trump called President Abdel Fattah El Sisi to discuss “the American-Egyptian partnership on a range of security and economic issues” […]
Posted inSpeed Round
Greece’s Energean raises USD 1.27 bn to fund its development of Israeli gas fields
More feedstock for Egypt as natural gas export hub? Greek energy explorer and producer Energean has signed a USD 1.27 bn agreement with multiple banks to finance its development of Israel’s Karish and Tanin offshore natural gas fields, Bloomberg reports (paywall). The two fields hold a combined 2.5 tcf of contingent gas, and their development […]
Posted inUncategorized
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Posted inSPOTLIGHT: EFG HERMES ONE ON ONE 2018 IN DUBAI
Karim Awad remarks
EFG Hermes Group Chief Executive Officer got things underway with opening remarks that highlighted transformation—of both the One on One and the firm. The One on One now stands as the largest frontier- and MENA-dedicated conference globally, a sharp change from its “very humble beginnings in Sharm El Sheikh in 2002 …back then, we must […]