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The Damietta Port Authority has re-issued its tender for a 140k sqm cargo terminal for container ships, Al Mal reports. The authority previously tendered the project twice, but companies were reluctant to participate due to the tender stipulating that all cargo be moved from the terminal via river transport, among other stipulations, sources close to […]
Author Archives: enterpriseam admin
Posted inInfrastructure
NUCA expands greywater reuse into 10 new cities
The New Urban Communities Authority (NUCA) signed an MoU with Misr El Kheir and the Academy of Scientific Research and Technology to establish new greywater treatment units in 10 new cities for irrigation purposes, the head of NUCA’s Central Unit for Sustainable Cities and Renewable Energy Gamal Talaat tells Al Shorouk. Recycling greywater (used bath […]
Posted inBasic Materials + Commodities
Food industries sector should grow 8-10% this year - FEI
The food industries sector is expected to see growth of 8-10% in 2018 after a challenging 2017, head of the food industries division at the Federation of Egyptian Industries Ashraf El Gazayerli told Al Borsa. This increase will come on the back of higher exports and lower inflation — one of the biggest drivers of […]
Posted inManufacturing
MB signs production agreement with French Hager
Egypt’s MB Group signed an agreement with Hager Group under which they will locally produce a range of the French group’s low-voltage electrical panels, according to Youm7. The agreement allows MB to retail Hager’s products at premium of 60%, which would be split evenly between both companies.
Posted inReal Estate + Housing
TMG negotiating with the government for 5,000 feddans in New Cairo
Talaat Moustafa Group Holding is in negotiations with the New and Urban Communities Authority (NUCA) to acquire 5,000 feddans of land it plans to use for expansions in New Cairo, a source familiar with the matter tells Al Mal. NUCA is currently willing to give the company as much as 1,000 feddans, but the company […]
Posted inTourism
Russian airline Sirius Aero receives permission for Cairo-Moscow flights
Reports have emerged that Russian airline Sirius Aero has received permission to establish a flight route between Moscow and Cairo, according to Russian aviation outlet ATO.Ru (Russian). Air Leisure is also looking into offering direct flights between Moscow and Luxor once air travel between Russia and Egypt officially resumes, Chairman Mohamed Mounir tells Al Mal. […]
Posted inAutomotive + Transportation
West and Mid Delta Bus Co. to purchase 50 buses for EGP 135 mn in FY2018-19
The West and Middle Delta Bus Company is planning to purchase 50 new buses for its fleet for EGP 135 mn in FY2018-19, a statement picked by Al Mal says. The move is part of the company’s plan to invest EGP 143.5 mn in the next fiscal year.
Posted inBanking + Finance
Beltone tapped to manage Egyptian Sports Fund
Beltone Financial has been tapped to manage a EGP 5 mn fund launched by Banque Misr, whose proceeds will be used by the Youth Ministry to develop sports facilities and stadiums and youth programs, the government said in a press release on Sunday (pdf). Beltone hopes to raise EGP 250 mn in subscriptions to the […]
Posted inBanking + Finance
Egypt Post and Ahli United Bank sign MoU to facilitate remittances
Egypt Post has signed an MoU with the Ahli United Bank to facilitate the transfer of remittances by Egyptians abroad through to its 4,000 nationwide branch network, Egypt Post head Essam El Sagheer tells Al Shorouk. The agreement also allows Egypt Post to offer some e-payment solutions to SMEs that are bank clients.
Posted inBanking + Finance
Naeem Holdings receives FRA approval for dual listing on Dubai Financial Markets
Naeem Holdings has received approval from the Financial Regulatory Authority (FRA) for the company’s dual listing on the Dubai Financial Markets, the company said in a regulatory filing on Sunday (pdf).