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Total and Eni plan to start drilling their joint exploration Block 6 off the coast of Cyprus by the end of this year or early 2018, despite disappointing results from the nearby Block 11, Cyprus President Nicos Anastasiades said, according to Reuters. “Yes, (block 11) was disappointing in terms of quantity, but the results are […]
Author Archives: enterpriseam admin
Posted inInfrastructure
GAFI approves establishment of drydocks company
The General Authority for Freezones and Investments (GAFI) approved the establishment of a company to manage drydocks and provide logistics services, according to Al Mal.
Posted inBasic Materials + Commodities
Levity CropScience appoints fertilizer distributor in Egypt
UK fertilizers producer Levity CropScience has appointed a distributor in Egypt, eyeing new sales opportunities for its “smart fertilizers” in the MENA region, according to Fruit Net. The Egyptian distributor, United Group of Agencies Agricultural Development Co, will market Levity’s full six-product range. “Egypt is a market where we anticipate large volume sales and we […]
Posted inManufacturing
Unnamed Gulf investor to set up EGP 100 mn windshield plant
An unnamed Gulf-based investor is in talks with the Federation of Egyptian Industries (FEI) to set up a new windshield factory in Egypt with initial investments of EGP 100 mn, Al Borsa reports. The investor is looking to house the facility in close proximity to where silica deposits are found, FEI engineering division head Mohamed […]
Posted inHealth + Education
Egypt looking to attract international university campuses in Egypt -THE
The government has proposed a new law that would make it easier for foreign universities to establish international branch campuses in Egypt, Times Higher Education reports. Higher Education Minister Khaled Abdel Ghaffar also called on UK universities to “invest in the Egyptian market of education.” Abdel Ghaffar said that the law would “‘facilitate and fast-track […]
Posted inReal Estate + Housing
PHD to delay securitization plan until interest rate drops
Palm Hills Developments (PHD) is delaying its EGP 500 mn securitized bond issuance until after interest rates drop, Managing Director Tarek Abdel Rahman tells Al Borsa. The company will be looking to the CBE’s Monetary Policy Committee meeting on 16 November to gauge where interest rates are heading. He added that Sarwa Capital will manage […]
Posted inReal Estate + Housing
Redcon Construction to break ground on EGP 2 bn medical complex in March
Redcon Construction expects to begin construction on the first phase of its EGP 2 bn medical complex in Capital Group Properties’ Alburouj compound in March, according to Chairman Hazem Ashry. The complex will span 33,000 sqm, and will be launched over two phases. Ashry says construction is scheduled for completion in 2020, and the project […]
Posted inReal Estate + Housing
Hometown begins work on latest project
Hometown Real Estate Development has begun work on their EGP 40 mn Hometown 3 residential project in New Cairo,General Manager Ahmed Gamal said to Al Borsa. The project covers an area of 3,400 sqm and will contain 40 homes.
Posted inTourism
Tourism Ministry approves raising incentives for charter flights
The Tourism Ministry has approved raising incentives offered to airlines running charter flights to Luxor, Aswan, Marsa Matrouh, Taba, and Alamein to USD 3,000 from USD 2,000, Deputy Minister Adla Ragab tells Al Shorouk. The incentives, which include payouts and fee exemptions, are offered to flights with 50-80% seat occupancy rates that bring in regular […]
Posted inTourism
Digital campaign targeting Brits to run starting January
The Tourism Promotion Authority is launching a digital campaign targeting UK tourism starting mid-January,Chairman Hisham El Demery told Al Shorouk. He added that the social media campaign, which hopes to capitalize on an influx of tourists to the country, will run until July.