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EIB and Arab Bank to provide MENA SMEs with EUR 300 mn in funding: The European Investment Bank (EIB) and the Arab Bank signed a EUR 300 mn financing agreement to support SMEs and mid caps in Egypt, Jordan, Lebanon, Morocco and the West Bank, the EIB said in a statement.
Author Archives: enterpriseam admin
Posted inEnergy
TransGlobe increases production from Egypt to 12.8k bpd
Canadian oil and gas producer TransGlobe said it produced 12.8k bpd from Egypt in 4Q2017. It is currently finalizing its 2018 work plan and budget that will be announced in January, according to its 4Q2017 operational update. TransGlobe announced it lifted and sold 510k bbl of crude in Egypt in late November for estimated net […]
Posted inEnergy
Schlumberger, TGS-NOPEC begin seismic survey in Red Sea border with Saudi
Schlumberger and Norway’s TGS-NOPEC have begun conducting seismic surveys along Egypt’s Red Sea border with Saudi Arabia, TGS announced yesterday. The project is expected to be completed in late 1Q2018. Schlumberger and TGS-NOPEC are two of five firms that were awarded contracts for scans in the area in July.
Posted inInfrastructure
Transport Ministry planning to construct three dry docks in Upper Egypt
The Transport Ministry is looking to establish three dry docks in Assiut, Sohag and Safaga, according to Al Mal. The move comes as part of a state plan to develop the Upper Egypt-Red Sea road. The planned dry docks would facilitate trade and the movement of goods from Red Sea ports to Upper Egypt, said […]
Posted inBasic Materials + Commodities
Canadian Food Inspection Authority approves market access for Egyptian fresh grapes
The Canadian Food Inspection Authority has granted market access for Egyptian fresh grapes, the Trade and Industry Ministry announced yesterday. Canada will begin importing Egyptian grapes in accordance with the regulations agreed upon with Egypt’s Agriculture Export Council and Agricultural Quarantine Authority. The approval comes after more than a year of negotiations, according to Minister […]
Posted inHealth + Education
Honoris United confirms Regent Business School’s plans to establish a branch in Cairo
Honoris United University, MENA private equity giant Actis’ education platform, plans to establish a branch of South Africa’s Regent Business School in Cairo, Honoris confirmed in a statement yesterday. The Higher Education Ministry had signed an MoU with Actis during the Africa 2017 conference held in Sharm El Sheikh earlier this month. “Regent Business School […]
Posted inReal Estate + Housing
Beta launches first phase of Future City development
Beta Egypt for Urban Development has begun selling homes in the first phase of its EGP 5 bn Beta Greens New Cairo project in Mostakbal City, Beta Egypt Chairman Alaa Fekry said, according to Al Borsa. The first phase includes 200 homes and is scheduled for delivery in 2021. The project is expected to be […]
Posted inTourism
Hilton Worldwide plans to halve its hotel management contracts in Sharm El Sheikh
Hilton Worldwide is reportedly planning to reduce the number of hotels it manages in Sharm El Sheikh next year to two from a current four, unidentified sources tell Al Borsa. The company will not renew its contracts with Fayrouz Resort and Sharm Dreams Resort, both of which expire at the end of the month. According […]
Posted inTelecoms + ICT
Europe sends supply requests to SICO
SICO has received orders for its mobile phones from European countries, including the UK and the Netherlands, due to their low costs, company president Mohamed Salem said in a televised interview, according to Al Mal. There are already plans to export phones to West Africa and the Middle East first, Salem said. SICO is looking […]
Posted inAutomotive + Transportation
EgyptAir to resume talks to buy Russian aircraft
EgyptAir and Russia will resume talks regarding the potential sale of Sukhoi SSJ 100/95 aircraft, Russian Trade and Industry Minister Denis Manturov said, according to Arabian Aerospace. Manturov reportedly met with President Abdel Fattah El Sisi and discussed the potential sale with him. “We have identified not only the SSJ but also the MC-21-300. The […]