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The General Authority for Supply Commodities (GASC) has received offers for a soy and sunflower oil tender issued yesterday, Cairo-based traders tell Business Recorder. Aston presented the best and lowest price for sunflower oil, offering up 11,500 tonnes at USD 793 per tonne. GASC is looking to see the oil shipments come in between 1-15 […]
Author Archives: enterpriseam admin
Posted inHealth + Education
Health Ministry considers World Bank USD 500 mn loan to treat Hep C patients
The Health Ministry is studying an offer from the World Bank for a USD 500 mn loan to support the provision of treatment for Hepatitis C, Health Minister Ahmed Rady said yesterday, Al Borsa reports. Rady said the ministry requires a total USD 378 mn to cover its needs of the treatment until 2020 but […]
Posted inReal Estate + Housing
Orascom Development plans to use proceeds of Tamweel sale to reduce EGP 1 bn debt burden
Orascom Development plans to use the proceeds of the sale of Tamweel Financial Holding to lower its EGP 1 bn debt-burden, the company’s IR Director Sara El Gawahergy tells Al Mal. She had previously stated that the company is looking to exit Tamweel because it does not fit with its core business. As we noted […]
Posted inReal Estate + Housing
Heliopolis Housing denies partnering with Arab Cotton Ginning
Heliopolis Housing denied reports it is planning on setting up a real estate company in partnership with the Arab Cotton Ginning Company, according to a bourse statement. The company says the circulated news is false and was not provided by its management.
Posted inTourism
Tourism Minister forms crisis committee to resolve private sector challenges
In her first order of business, Tourism Minister Rania Al Mashat formed a crisis committee of industry players to develop a strategy to address tourism’s private sector issues, Red Sea Tourism Investors Association President Kamel Abu Ali told Al Shorouk.
Posted inOther Business News of Note
Health Ministry denies Lactalis’ salmonella-contaminated baby products
Egypt is not among the countries from which French dairy group Lactalis has recalled its baby milk product, Celia, due to salmonella contamination, the Health Ministry announced yesterday, Youm7 reports. The Consumer Protection Agency (CPA) had met earlier yesterday with producers and importers of Lactalis products to confirm that Celia is not sold in Egypt, […]
Posted inOther Business News of Note
President Abdel Fattah El Sisi inaugurates several projects
President Abdel Fattah El Sisi inaugurated several projects during his visit to Sadat City yesterday,according to an Ittihadiya statement. The projects, whose investment values were not revealed, included two hospitals, a sports city in Port Said, and the Zewail City for Science and Technology, among others.
Posted inEgypt Politics + Economics
MP submits inquiry into differences between actual and estimated costs in FY2017-18 budget
MP Mohamed Fouad says he submitted an official inquiry to House Speaker Ali Abdel Aal yesterday about the differences between the estimated and actual costs of items in the FY2017-18 state budget. The price of oil, for example, was set at an average USD 55 per barrel for the fiscal year, but has now climbed […]
Posted inEgypt Politics + Economics
Two policemen referred to criminal court for death of detainee
Prosecutors referred two policemen to a criminal court on Monday for allegedly beating to death a detainee after he was arrested on 5 January, judicial sources told Reuters. Mohamed Abdul Hakim, known as Afroto, was being held for charges in a drug case, but prosecutors say he was illegally detained. Afroto’s death had caused riots […]
Posted inON YOUR WAY OUT
Kourtney Kardashian coming back for another visit
Please just think of free tourism publicity when you read this: Kourtney Kardashian is planning another trip to Egypt with boyfriend Younes Bendjima, according to Hollywood Life. The reality TV star, who was here back in August, is apparently guilt-ridden that she took the trip without her three kids.