Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Oil Minister Tarek El Molla signed two agreements with oilfield services company Schlumberger to conduct a seismic survey in the Gulf of Suez and establish a data center on areas open for exploration in Egypt, the ministry announced in a statement (pdf) yesterday. The ministry did not disclose the value of the agreements, which were […]
Author Archives: enterpriseam admin
Posted inEnergy
Baker Hughes GE signs EGP 1 bn contract with Petrojet
Baker Hughes GE signed a EGP 1 bn contract with state-owned Petrojet which would see it consult on expanding Petrojet’s industrial services for the oil and gas exploration, according to a Oil Ministry statement picked up by Al Mal. Petrojet hopes to manufacture, build and test offshore structures and components for the Zohr gas field's […]
Posted inEnergy
Ethydco to issue international tender for USD 100 mn polybutadiene plant
The Egyptian Ethylene & Derivatives Company (ETHYDCO) is preparing to launch an international tender next month for a USD 100 mn polybutadiene plant, company official Khaled Talaat tells Al Borsa. ETHYDCO expects to announce the winning company in May, while the plant is set to begin operations in 2020.
Posted inReal Estate + Housing
Hassan Allam acquires 600-feddan land plot on North Coast
Hassan Allam Properties announced securing a 600-feddan land plot on the North Coast, the company announced in an emailed statement. The planned development for the plot will include residential units a clubhouse, a five-star boutique hotel, a commercial hub, an Aqua Park, sports club, as well as beachfront cabanas. “We are expanding significantly, whilst maintaining […]
Posted inTourism
Hilton opens Heliopolis property, schedules Waldorf Astoria for later this year
The new 593-room Hilton Cairo Heliopolis began welcoming guests yesterday as part of Hilton Worldwide’s plan to expand in Egypt with 1,000 hotel rooms in 2018, Al Shorouk reports. The company has also confirmed plans to re-open the currently-standing 247-room Towers Luxury Hotel as Africa’s first Waldorf Astoria later this year. Hilton has signed two […]
Posted inTourism
Roman-era temple found in Aswan
Archaeologists uncovered the remains of a temple in Aswan that dates back to Egypt’s Roman period,Arab News reports. The Egyptian Excavation Field School made the finding in the Kom Al Rasras site. Experts believe the temple was part of a residential area for quarry workers.
Posted inTelecoms + ICT
Global Telecom subsidiary gets get new frequencies in Bangladesh, to expand into LTE
Global Telecom and VEON Ltd. announced that their wholly-owned subsidiary in Bangladesh, Banglalink, has received new frequencies that are expected to double its 3G network capacity, the companies said in a joint statement on Tuesday (pdf). Banglalink will pay a total of USD 308.6 mn for the spectrum and USD 35 mn to convert its […]
Posted inTelecoms + ICT
Etisalat Misr to invest EGP 2.5 bn this year to develop infrastructure
Etisalat Misr is planning to invest EGP 2.5 bn this year to develop its infrastructure and expand its 4G services network, CFO Ehab Roshdy tells Al Mal. The new investment will be funded by revenue from the company’s recent capital increase, according to Roshdy.
Posted inBanking + Finance
Lebanese fintech firm Areeba to establish an Egypt office in 2018
Lebanese fintech company Areeba is planning on establishing an office in Egypt in 2018, Marketing and Strategic Relationships head Said Fakhr tells Al Mal. Areeba is planning on building strong connections with a network of banks operating in Egypt such as Bank Audi.
Posted inEgypt Politics + Economics
NEC setting up committee to monitor press coverage of March election
The National Elections Commission (NEC) is setting up a committee to monitor news coverage of the March presidential elections and “take note of violations to the reporting criteria” set by the NEC, Supreme Media Council deputy Mohamed El Amry tells Youm7. The council is also running training workshops on election coverage for journalists, he says.