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Maridive & Oil Services signed a USD 20 mn agreement with an unnamed Egyptian company to lease three maritime units to provide maritime and oil services at the Zohr gas field, Al Mal reports. No further details were provided.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Supply Ministry considering raising monetary value of bread points
The Supply Ministry is studying a proposal to raise the bread subsidy points to EGP 0.30 from EGP 0.10, an unidentified government source tells Al Mal. The ministry had floated a similar idea in July that would have doubled the points subsidy card holders receive for every loaf of bread not bought, to EGP 0.20. […]
Posted inBasic Materials + Commodities
Dairy sales down 20% this year
Dairy consumption has been down this year, as industry sales fell 20% in 2017, Juhayna CEO Saif Thabet said, according to Al Borsa. Thabet blamed low consumer purchasing power as a result of the EGP float in addition to inflation. He did state that a recovery is at hand, and he expects the dairy industry […]
Posted inBasic Materials + Commodities
Egypt to export cherimoyas following EGP devaluation, Vietnam now open to Citrus Exports
Egyptian producers have started being able to export cherimoyas following the EGP devaluation, according to Fresh Plaza. “We could not export any significant amount of cherimoya before because of the high prices they reached … after the liberalization of exchange rates, international markets returned to an acceptable price,” George Barsoum of producer La Tulipe Company […]
Posted inBasic Materials + Commodities
Egypt steps up imports of Ukrainian wheat bran
Egypt imported 5,500 tonnes of Ukrainian wheat bran in the first quarter of FY2017-18 after a hiatus that saw it purchase a total 600 tonnes from the country for the whole FY2016-17, according to UKRAgroConsult.
Posted inHealth + Education
Nahdet Misr Publishing launches new Edtech incubator
Nahdet Misr Publishing Group launched EdVentures, Egypt’s first corporate venture capital arm specializing in edtech, Wamda reports. “EdVentures incubates, accelerates, and further invests in startups specializing in education and learning.”
Posted inTourism
Hilton to increase its hotel rooms in Egypt by 40% by 2022
Hilton Worldwide is looking to increase the number of hotel rooms it manages in Egypt by 40% by 2022’s end, North Africa VP Mohab Ghali said, according to Reuters. Hilton manages 17 hotels in Egypt currently and aims to take on seven more projects and add 2,500 rooms by 2022. Ghali says the average occupancy […]
Posted inTourism
Unseen treasures of King Tut go on display
The Egyptian Museum in Cairo displayed previously unseen treasures from King Tut’s tomb,The AP reports. 55 pieces of fabric decorated with gold will go on display for the first time since their discovery by Howard Carter in 1922. The pieces have been in storage of 95 years and now go on display as part of […]
Posted inTelecoms + ICT
Orange Egypt looking to convert parent company loan to equity
Orange Egypt said it is working closely with the EGX and the Financial Regulatory Authority (FRA) to complete a capital increases through converting a EUR 750 mn loan from its parent company to capital, according to a bourse disclosure. The company’s EGM will meet on 4 December to approve the move. The company says it […]
Posted inAutomotive + Transportation
EgyptAir to lease six Dreamliners, first Bombardier jets arriving in 1H2018
EgyptAir will lease six Boeing 787-9 Dreamliners from Dublin-based AerCap under a long-term operating lease, Boeing announced. The Dreamliners are from AerCap’s order book with Boeing and are scheduled to be delivered in 2019. “We look forward to the 787 becoming an integral part of EgyptAir’s fleet as we progress our modernization and network expansion […]