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FEI to meet with Belarusian investors to discuss wood imports: The Federation of Egyptian Industries’ (FEI) wood and furniture division is meeting today with a delegation of six Belarusian companies to discuss importing wood at cheaper prices, Al Borsa reports. The discussions come as part of the division’s strategy to reduce furniture production costs, according […]
Author Archives: enterpriseam admin
Posted inEnergy
Israeli energy executives were in Cairo to discuss natural gas exports from Israel
A delegation of Israeli energy executives was reportedly in Cairo last week to hold discussions with companies looking to export natural gas from Israel, a source close to the matter tells Al Shorouk. A number of local companies are looking to buy Israeli gas to sell in the local market, they add. Last week, Bloomberg […]
Posted inEnergy
El Molla discusses energy cooperation with EU, Belgian officials
Oil Minister Tarek El Molla arrived yesterday in Belgium to discuss energy cooperation with a number of European Commission and European Investment Bank officials, Egypt’s ambassador in Brussels Khaled El Bakly tells Al Masry Al Youm. El Molla is also scheduled to meet with representatives from Belgian companies keen on cooperating with Egypt in the […]
Posted inBasic Materials + Commodities
Hero eyeing European export market
Hero Middle East & Africa is looking to begin exporting its products to Europe as part of a strategy to increase its overall export volume, Managing Director Mahmoud Bazan said, according to Al Shorouk. The company is currently conducting feasibility studies on expanding its export market to Europe, which should be completed sometime next year. […]
Posted inBasic Materials + Commodities
Egyptian cotton exports drop 38.4% y-o-y in 4Q2016-17 export season -CAPMAS
Egypt’s cotton exports dropped 38.4% y-o-y during the fourth quarter of the 2016-17 export season to 86,200 qintars (4,310 tonnes), down from 140,000 qintars (7,000 tonnes) during the same period last year, according to a CAPMAS report picked up by Al Mal. The drop is a result of a low harvest rate, the report adds. […]
Posted inManufacturing
Bailout fund for idle factories to begin disbursing financing to first three factories in a month
The EGP 150 mn bailout fund for idle SME factories will begin financing the first three factories on its roster in a month’s time, once studies on them are complete, Union Capital CEO Hany Tawfik tells Al Borsa. State-owned Ayady, the Tahya Misr Fund, the National Investment Bank, and BPE Partners had co-established Union Capital, […]
Posted inManufacturing
LG Egypt targeting USD 250 mn in exports by year’s end
LG Egypt is looking to boost its exports to USD 250 mn by the end of this year, CEO Don Kwack tells Al Mal. The company has already achieved approximately 95% of its targeted export value, following a 45% y-o-y increase in its exports during 1H2017, according to Kwack. LG exports c. 70% of output […]
Posted inHealth + Education
House amendment to Healthcare Act mandates gov’t rely on private sector pharmacies
The House of Representatives’ Health Committee amended clauses of the Universal Healthcare Act that would require government healthcare regulators to buy meds from private sector pharmacies instead of opening their own — effectively shielding private pharmacies from government competition in the health insurance plan. The committee’s deputy chair Ayman Abul Ela said that having the […]
Posted inReal Estate + Housing
Abu Soma Development Company to establish two new hotels in Soma Bay
The Abu Soma Development Company is working on constructing two new hotels in Soma Bay at a combined investment value of EGP 950 mn, CEO Ibrahim El Messiry said, Al Masry Al Youm reports.
Posted inTelecoms + ICT
Vodafone looking for more frequencies next year as it plans to up investments 10%
Vodafone Egypt filed an official request to the national telecom regulator asking for more frequencies for its mobile network in 2018, the company’s head of government affairs Ayman Essam said, Al Borsa reports. This comes as the company plans to increase its investments in Egypt by 10% over the coming three years to meet rising […]