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Electricity Minister Mohamed Shaker discussed cooperating on developing our western neighbor’s electricity infrastructure with the head of Libya’s General Electric Company Ali Sayes, Al Mal reports. Shaker reportedly stressed the need to have a grid interconnectivity project with Libya up and running. Any such project would undoubtedly be part of a wider strategy announced by […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Saudi delegation coming to Egypt to inspect quality of agriculture goods
A delegation of Saudi agriculture quarantine and trade officials is expected to arrive in Cairo on a fact-finding mission ahead of determining whether to lift a ban on Egyptian strawberries and peppers, said Abdel Hamid El Demerdash, head of the Agriculture Export Council. He tells Al Mal that the officials will be visiting Egyptian farms […]
Posted inBasic Materials + Commodities
US wheat prices drop low enough to compete in Egypt -Reuters
Prices Egypt paid recently for Russian and Romanian wheat shows that US wheat prices are now low enough to compete here, according to Reuters. Egypt last bought US wheat in May and this was its first purchase in more than two years. “U.S. wheat prices have tumbled 60 percent since reaching a four-year high in […]
Posted inManufacturing
Factory bailout fund to start work next week
The government’s EGP 150 mn bailout fund will start financing the first phase of idle factories next week,Chairman of Tahya Misr Fund Mohamed Ashmawy said. The phase will include 3-5 projects in the poultry and plastics segments. Tahya Misr had partnered up with Ayady, the National Investment Bank, and BPE Partners in March to co-establish […]
Posted inHealth + Education
Health Ministry commissions 4 local pharma companies to produce penicillin
The Health Ministry has commissioned four local pharma companies — Nile Pharma, Holdipharma, October, and Medical Union — to produce penicillin, which will help to reduce the country’s reliance on imports and avoid future shortages, ministry spokesperson Khaled Megahed tells Al Shorouk. The country’s stock of penicillin will be sufficient to cover five months of […]
Posted inHealth + Education
Eight technological universities to open in 2018
Eight technology-focused universities will be set up across the country next year, Higher Education Minister Khaled Abdel Ghaffar announced on Tuesday. Three of the schools have been announced so far — one each in New Cairo, Menoufiya and Beni Suef. The universities will focus on curriculums that serve industries including construction, fisheries and health sciences […]
Posted inTelecoms + ICT
Indian smartphone manufacturer Lava enters Egyptian market
Indian smartphone manufacturer Lava has begun selling lower-cost mobile phones and smartphones in the Egyptian market, Al Mal reports. Lava has begun selling its products in Qalyubia as a first stage and will expand its activities to the country’s remaining governorates, sources from the company tell the newspaper.
Posted inAutomotive + Transportation
El Nasr Automotive revives talks with foreign partners to restart operations
Zombie car company El Nasr Automotive has revived negotiations with potential foreign partners to restart the defunct national car manufacturer’s operations, the Public Enterprises Ministry announced yesterday, Al Masry Al Youm reports. No further details were provided (as is pretty standard for news of this beast.) This would be the company’s second attempt at these […]
Posted inOther Business News of Note
Orascom Construction considers two infrastructure projects in Kenya
Orascom Construction Industries is considering developing two infrastructure projects in Kenya, Al Borsa reports. The company is studying developing a 150 km road and a 500 MW power plant, said the company’s Concessions Director, Khaled El Degwy. The company will complete its study and make a determination on whether to bid on the projects in […]
Posted inOther Business News of Note
Sawiris says he is considering investing in gov’t venture capitalist firm Egypt Ventures
Naguib Sawiris said he is considering investing in the Investment Ministry’s EGP 451 mn venture capital firm Egypt Ventures, Al Borsa reports. “I really like the idea and I would like to participate, but it would need to be studied,” Sawiris is reported to have said following a meeting with Egypt Ventures Chairman Shehab Marzaban. […]