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Our nation’s columnists were squarely focused on Friday’s terror attack in Sinai. Al Masry Al Youm’s Abdel Nasser Salama says the attacks suggest a need for a significant change in the country’s anti-terrorism strategy. The sheer magnitude of the attack transgressed the usual boundaries that would allow it to be classified as a “criminal act,” […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
GERD a matter of life or death for Ethiopia too
The Grand Ethiopian Renaissance Dam (GERD) is a “matter of life or death” for its people, too, Ethiopia’s Foreign Affairs Ministry said on Thursday, according to The Associated Press. The comments followed President Abdel Fattah El Sisi’s remarks that Nile water is “a matter of life or death” for Egypt. Egypt, Ethiopia and Sudan recently […]
Posted inBasic Materials + Commodities
Black Sea wheat displacing Australian shipments to Egypt
Shipments of Australian wheat to Egypt in the season ending 30 September of this year recorded only 145.8k tonnes, The Weekly Times reports. “Egyptian imports of Australian wheat peaked at 2.76 mn tonnes in 2003-04 and shipments ranged from 245,000 tonnes to 1.47 mn tonnes since then… CBH Group’s general manager of marketing and trading […]
Posted inBasic Materials + Commodities
Obour Land to use profits to set up new dairy subsidiary
Obour Land will use its profits over the next four years to finance the establishment of its dairy products subsidiary Obour Farm, the company said in a bourse filing (pdf). The new subsidiary will have EGP 50 mn in issued capital.
Posted inManufacturing
MoU signed between CGCOC and government for Abu Zanima industrial zone
Egypt signed an MoU on Friday with Chinese construction group CGCOC to help develop the Abu Zanima industrial zone in South Sinai, according to Al Borsa. The agreement was inked between the South Sinai governorate, the National Organization for Military Production, the Industrial Development Authority, and CGCOC. CGCOC will consult on the infrastructure and feasibility […]
Posted inReal Estate + Housing
Emaar Al Baseeta to invest EGP 400 mn in New Cairo project
Saudi developer Emaar Al Baseeta is planning a EGP 400 mn real estate project in New Cairo,CEO Hisham Al Shafei told Al Borsa. The company has purchased 30 feddans in the area and is planning on raising funds from Saudi investors for the project. This is the company’s first foray into Egypt’s real estate market. […]
Posted inReal Estate + Housing
Heliopolis Housing planning new 600 feddan residential project
Heliopolis Housing and Development is currently carrying out feasibility studies on a planned 600 feddan residential project north of Heliopolis, Managing Director Khaled El Marasy said, Al Masry Al Youm reports. The investment value of the project will be announced once the studies and designs for the project are complete. The company is looking to […]
Posted inBanking + Finance
Algebra looking to invest in up to 20 tech companies
Venture capital outfit Algebra Ventures is looking to invest in 20 companies in a range of fields through 2019, said Executive Director Ziad Mukhtar in a chat with Al Masry Al Youm. The company is looking at ticket sizes in the USD 0.5-2 mn range and will hold investments for 7-10 years.
Posted inBanking + Finance
Solid Capital to submit a request for brokerage license before year’s end
Solid Capital is planning to submit a request to the Financial Regulatory Authority for a brokerage license before the end of the year, CEO Mohamed Reda said, Al Masry Al Youm reports.
Posted inOther Business News of Note
Oriental Weavers to invest EUR 10-12 mn to add new weaving looms
Oriental Weavers plans to add eight to 10 weaving looms until the end of 2018 with estimated capex figure of EUR 10-12 mn, according to a bourse statement. The EUR 9 mn loan the company is signing with QNB Alahli we reported on Thursday will be used to finance the expansion. Oriental Weavers also announced […]