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The International Labor Organization (ILO) has given Egypt preliminary approval to resume its Better Work Program until 2018’s end, according to a Trade and Industry Ministry statement. The extension is expected to pave the way for international companies to lift their bans on importing merchandise manufactured in Egypt, Minister Tarek Kabil said, noting that the […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Belgian business delegation in Cairo for five-day visit
A Belgian delegation of 25 companies arrived in Cairo yesterday for a five-day visit to look into investment openings and improving trade relations, Ahram Online reports.
Posted inManufacturing
Corona to open new EGP 300 mn chocolate factory in 2H2019
The Alexandria Confectionery & Chocolate Company (Corona) is planning to open a new EGP 300 mn factory in Six October City in 2H2019, CMO Ahmed El Nadry tells Al Borsa. The new factory will increase the company’s production by four times, he says.
Posted inHealth + Education
Speed to establish 43 new branches for EGP 67 mn by end of 2Q2019
Speed Medical Examination Services is planning to invest EGP 67 mn to open 43 new labs between now and the end of 2Q2019, CEO Mahmoud Lasheen tells Al Borsa. The company is looking to have 107 branches in its network in three years’ time. Speed is also planning to expand its overseas network from Khartoum […]
Posted inReal Estate + Housing
MBG Development targets EGP 1 bn phase one sales of Pukka New Capital
Real estate developer MBG is targeting EGP 1 bn in sales revenues over the next three months from phase one of its Pukka New Capital project, Chairman Mahmoud El Adl tells Al Shorouk. The EGP 4 bn residential project is built over 50 feddans and will be completed in four years, according to El Adl.
Posted inReal Estate + Housing
Housing Ministry to announce results of PPP tenders soon
The Housing Ministry is getting ready to announce the results of tender for residential projects under public-private partnership that should draw in more than EGP 500 bn-worth of investments, Minister Mostafa Madbouly said yesterday, Al Shorouk reports. The ministry is also planning to tender more land for PPP projects in New Alamein, New Mansoura, West […]
Posted inTourism
Tourism Minister planning to restructure the ministry
Tourism Minister Rania Al Mashat is reportedly looking to restructure the ministry, according to Ahram Gate. The minister will put her team together by 30 March to begin drafting a comprehensive development plan for the sector that will likely see changes to both tourism authorities. The story comes after Tourism Promotions Authority head Hisham El […]
Posted inTourism
Celestyal schedules cruises to Egypt in 2019/2020
Cyprus-based Celestyal Cruises has announced launching seven-day '3 Continents' cruises that include stops in the ports of Alexandria and Port Said, according to Seatrade Cruise News. The itinerary for 2019 and 2020 also includes stops at Ashdod, Israel; Kusadasi, Turkey; Limassol, Cyprus; and Rhodes, Greece.
Posted inTelecoms + ICT
MNOs begin restructuring distributor contracts to circumvent NTRA’s caps on SIM card sales
Vodafone Egypt, Orange Misr, and Etisalat Misr are looking into restructuring their contracts with distributors by the next month to give the latter legal capacity to act as franchises, Al Borsa reports. The move is meant to circumvent regulations the National Telecommunications Regulatory Authority (NTRA) had set out in January to limit the sale of […]
Posted inBanking + Finance
CIB looks into arranging EGP 2 bn loan for Egyptian Steel
CIB is looking into arranging a EGP 2 bn syndicated loan for Egyptian Steel, unnamed banking services tell Al Shorouk. The loan would finance expansions for the company’s USD 5.5 bn steel plant in Ain Sokhna, which Egyptian Steel had rezoned within the Suez Canal Economic Zone at the end of last year.