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The Oil Ministry is expecting the West Delta gas fields to produce 500-700 mcf/d when they come online by the end of 2018,the ministry said in a statement.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Evergrow to complete studies on EGP 9.5 bn phosphate complex next month
Fertilizer producer Evergrow expects to complete the technical studies on its planned EGP 9.5 bn phosphate production complex and meet with the project’s foreign investors to determine their ownership stakes next month, the company’s Commercial Director Emad Nabil said, Al Borsa reports. Evergrow’s chairman had announced last month that the company was in talks with […]
Posted inBasic Materials + Commodities
Brazilian textile companies look to Egypt for raw materials
Three Brazilian textile firms are interested in importing raw material from Egypt,according to ANBA. Textiles maker Fiama, yarn maker Círculo and elastic band manufacturer Damenny will view examples of Egyptian raw materials at Destination Africa, a textile industry show slated for 11-12 November in Cairo.
Posted inBasic Materials + Commodities
GASC issues tender for wheat delivery in December
The General Authority for Supply Commodities (GASC) issued a tender on Tuesday to purchase an unspecified amount of wheat, to be delivered between 15 and 30 December, Reuters reports.
Posted inTourism
Travco and Albatros to open two hotels in Marsa Alam in 2018
Travco Travel Company of Egypt and PickAlbatros Group are planning to open two hotels in Marsa Alam next year with total investments of USD 154 mn,company heads told Al Shorouk. Travco plans to open a USD 120 mn 300-room hotel, Albatros hopes to launch its 480-room hotel it invested USD 34 mn in. Travco also […]
Posted inTelecoms + ICT
CIB selects IBM to provide bank system security
CIB has selected IBM Security to protect and enhance identity and access governance management for the bank’s systems, applications and data, IBM announced. “CIB turned to IBM solutions to be able to quickly and drastically improve its banking processes through a complete identity and access management framework that provides centralized services to manage the entire […]
Posted inOther Business News of Note
Trade Ministry to grant temporary licenses for importers who don’t yet comply with Import Registry Act
The General Authority for Export and Import Control will grant temporary licenses to importers who are currently unable to meet the December deadline to comply with amendments to the Importers Registry Act, the authority’s head Ismail Gaber said, according to Al Mal. The Trade and Industry Ministry had extended to December the deadline to comply […]
Posted inLaw
ZH&P advise on HP’s acquisition of Samsung Electronics
Zaki Hashem & Partners advised on domestic aspects of a USD 1.05 bn transaction where HP acquired Samsung’s printer business, which closed last week. The law firm advised on the optimum transfer mechanism and documentation, the tax implications, and the applicable consent and approvals for the consummation of the transaction in Egypt. It also advised […]
Posted inEgypt Politics + Economics
State Commissioners’ Committee orders investigation on conditions of Aqrab prison
The State Commissioners' Committee ordered Cairo University to organize an investigation by a team of medical and human rights specialists to assess whether the infamous "Aqrab" wing of Tora prison is suitable to house inmates, according to a document obtained by the Associated Press on Tuesday. The order follows requests by prisoner families and NGOs […]
Posted inSports
Egyptian weightlifter awarded Olympic silver medal for 2012 London Games after top three are suspended
Egyptian weightlifter Abeer Abdel Rahman received an Olympic silver medal yesterday for the 2012 London Games after the competition’s top three finalists were suspended, KingFut reports. The three athletes from Kazakhstan, Russia, and Belarus failed doping tests, clearing the way for Spain, Egypt, and Cameroon to rise to the top. Abdel Rahman had originally finished […]