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House of Representatives Speaker Ali Abdel Aal met with Saudi King Salman in Riyadh yesterday, according to the Saudi Press Agency. “Abdel Aal and his delegation arrived in Riyadh late Tuesday for an official visit to Saudi Arabia,” Anadolu Agency says. The details of their discussion are unclear.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
African Union asks Egypt to hold off on executions
An African Union (AU) commission had been planning to investigate claims into the lawfulness of death sentences passed in Egypt, after the Ikhwan’s Freedom and Justice Party approached the AU’s People and Human Rights Commission to file a formal complaint “ over the fate of several detainees put on death row and left with no […]
Posted inEnergy
Siemens Gamesa to supply wind turbines for Ras Ghareb
Siemens Gamesa Renewable Energy will supply turbines producing 262.5 MW to Ras Ghareb Wind Energy’s Gulf of Suez wind farm, Renews reports. The agreement “covers supply and commissioning of 125 G97-2.1 MW machines, as well as maintenance for 15 years once the project is operational.” The project’s installation is set to be complete by July […]
Posted inEnergy
Egyptera to renew, issue new energy production and transmission licenses for 34 companies
The Egyptian Electric Utility and Consumer Protection Agency (Egyptera) has agreed to issue new licenses and renew existing production and transmission licenses for 34 energy companies, Al Borsa reports. The companies whose licenses were renewed until 30 June this year include: Delta for Construction and Rebuilding, the Egyptian Resorts Company, United Group for Energy, and […]
Posted inEnergy
Finance Ministry to issue letters of guarantee for 30 solar power companies under FiT phase 2
The Finance Ministry is planning to issue letters of guarantee next week for 30 solar power companies and consortia under the second phase of the feed-in tariff (FiT) program, government sources tell Al Borsa. The Egyptian Electricity Transmission Company had accepted the financial models for their planned power plants in Benban last week, according to […]
Posted inBasic Materials + Commodities
Fruit and vegetable vendors refuse to implement price-printing policy
A number of fruit and vegetable vendors are refusing to comply with the Supply Ministry’s price-printing policy, which requires them to clearly list the prices of the products they are selling, Al Shorouk reports. Some vendors speaking to the newspaper said the policy was “impossible” to implement because the prices of agricultural products are susceptible […]
Posted inBasic Materials + Commodities
Cotton exports up 126% y-o-y
Cotton exports increased 126% to 800k qintars (40 tonnes) for the months of September-December up from 300k qintars (15k tonnes) during the same period last year, according to Al Borsa. The jump comes on the back of increased production, with 220k feddans planted this year compared to last.
Posted inManufacturing
Raya signs USD 3.5 mn agreement with Samsung to manufacture washing machines
A subsidiary of Raya Holding signed a partnership agreement with Samsung to manufacture top-loading washing machines, according to a bourse disclosure. The agreement involves an USD 3.5 mn investment and entails producing a preliminary 40k washing machines in 2018. Raya says the partnership with Samsung will contribute to expanding its market share.
Posted inManufacturing
Bajaj to supply cotton ginning machine to state-owned factory
India’s Bajaj will deliver a cotton ginning machine to the Cotton & Textile Industries Holding Company under a newly-inked USD 2.3 mn contract, Al Masry Al Youm reports. The machine will be delivered and set to be operational before August 2018 as part of the Public Enterprises Ministry’s plan to develop the sector. Minister Ashraf […]
Posted inManufacturing
Saudi's Al Rabie to partner with local investors to establish EGP 350 mn oil plant
Saudi food group Al Rabie is in talks with Egyptian partners to establish a new edible oil refinery with initial investments of around EGP 350 mn, Youm7 reports. The plant will extract and refine oil from sunflower, soy, and maize, producing at an annual capacity of 120k tonnes and gradually growing to produce 500k tonnes […]