Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
The Egyptian Transport and Commercial Services Company (Egytrans) has fulfilled a EGP 90 mn contract to transfer components, including turbines and generators, to the site of Siemens’ power plants in Beni Suef and the new administrative capital, Egytrans Chairman Abeer Leheta tells AMAY. The 2016 agreement was a strong contributor to Egytrans’ revenue growth last […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Agriculture Minister issues new regs on inspection of exported cargo
Agriculture Minister Abdel Moneim Al Banna issued a decision yesterday that allows the Quarantine Authority to contract accredited, privately-run labs to test samples of cargo being examined ahead of export, Al Shorouk reports, citing a ministry statement. Testing costs will be set based on individual agreements with each of the contracted labs. The decision means […]
Posted inBasic Materials + Commodities
Eastern Company plans to double exports next year to boost FX income, cover costs
Eastern Company is planning to double its exports next year in order to boost its foreign currency revenues, sources tell Youm7. The company will target markets in Africa and the GCC primarily, they said.
Posted inManufacturing
Bamag-Samcrete consortium drops arbitration case against Abu Qir Fertilizers
A Bamag-Samcrete consortium has dropped an arbitration case against Abu Qir Fertilizers with the Cairo Regional Centre for International Commercial Arbitration, Abu Qir said in a bourse filing on Thursday (pdf). The dispute, which was raised in December of last year, is over Abu Qir had enacting delay penalty clauses in the contract over work […]
Posted inManufacturing
Six investment proposals submitted to East Port Said
Six foreign firms have approached the East Port Said Development Company to acquire space for new projects in the area, Commercial Director Ahmed El Mofty tells Al Borsa. While he doesn’t name the firms, El Mofty adds that the company received offers from German auto and food producers, an Indian petrochemicals manufacturer, an Emirati logistics […]
Posted inReal Estate + Housing
New Administrative Capital Co. in talks with Chinese company to develop 14k feddans
The New Administrative Capital Company is in “advanced talks” with a major Chinese firm to develop 14k feddans into a complete housing and industrial city, company spokesman Khaled El Hosseini tells Al Masry Al Youm. El Hosseini shied away from naming the company or revealing any details on the expected investment value.
Posted inTourism
Alshaya group looking to buy hotels in Egypt governorates
Kuwait’s Alshaya Group is looking to buy three and four-star hotels across Egypt, starting with Cairo, Giza, and Alexandria, Al Mal reports. The group is also making arrangements to meet with the Egyptian General Company for Tourism and Hotels (EGOTH) to discuss the possible signing of management and operation contracts for historic hotels in Cairo. […]
Posted inTelecoms + ICT
ITIDA to cover 2.5% of interest payments on tech sector SME loans
The Information Technology Industry Development Agency (ITIDA) has launched a support initiative to cover 2.5% of interest payments on loans to SMEs in the ICT and tech sectors, a government source tells Al Borsa. Interest rates from banks supporting the initiative currently vary between 5-7%.
Posted inAutomotive + Transportation
Buseet to expand into Dubai “soon”
Cairo-based ride-hailing app Buseet will launch operations in Dubai “soon”, the company announced on Facebook. The announcement comes after the on-demand bus service made it to a startup acceleration program offered by Startup Boot Camp in Dubai. Buseet recently expanded into Alexandria after launching the service in Sahel.
Posted inAutomotive + Transportation
AIB and ValU sign agreement to provide discounted loans to Uber drivers
The Arab Investment Bank (AIB) will be offering Uber drivers with facilitated funding to finance their new car purchases through EFG-Hermes’ ValU platform, Al Masry Al Youm reports. The service, which goes into action next week, will provide drivers with the 20% down payment on the vehicle at a 5% interest rate. EFG launched its […]