Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
The Egyptian Electricity Holding Company (EEHC) signed a USD 93.8 mn loan agreement with the Japanese International Cooperation Agency (JICA) to fund the purchase of control systems for the Alexandria, North Delta, and North Cairo electricity distribution companies, EEHC sources tell Al Borsa. The first installment of the 30-year loan will be disbursed next week.
Author Archives: enterpriseam admin
Posted inInfrastructure
Gov’t plans to increase developed areas to 14% of the country’s total area
The government is planning to increase the area of urban development in Egypt to 14% of its total land by 2030 from 7% currently, Planning Minister Hala El Saeed told Al Mal. The plan will require extensive infrastructure investment with participation from the private sector, she says.
Posted inBasic Materials + Commodities
Gov’t purchases 3.665 mn tonnes of wheat in 4 months
Egypt has purchased 3.665 mn tonnes of wheat between 1 July and 20 October, a Supply Ministry source tells Al Borsa. Russian wheat accounted for 73.94% of these imports, supplying Egypt with 2.71 mn tonnes during the first four months of the fiscal year. Romanian and Ukrainian wheat accounted for 16% and 8% of Egypt’s […]
Posted inBasic Materials + Commodities
Supply Ministry considering digitally recording subsidy vendors’ goods
The Supply Ministry is looking into digitizing records of the goods subsidized commodity vendors receive from the government to match them with sales to subsidy benefactors through their smartcards, a ministry source tells Al Masry Al Youm. The system would help ensure there are no discrepancies between what vendors receive and disburse, according to the […]
Posted inBasic Materials + Commodities
Australia accepts imports of Egyptian citrus
Australia has approved importing citrus fruits from Egypt, Agriculture Minister Abdel Moneim Elbanna announced, according to Al Shorouk. The decision came after Egypt outlined the improvement in the quality of the citrus, which was accepted by Australia. The ministry had said that citrus exports increased in the first half of the year as part of […]
Posted inHealth + Education
Janssen Egypt calls on Health Ministry to raise meds prices
Johnson & Johnson’s pharma arm Janssen Pharmaceuticals Egypt called on Health Minister Ahmed Rady to raise medication prices in accordance with an agreement Rady had reached with pharma companies in January to hike prices in August, Al Borsa reports. Pharma companies have been lobbying for several months to increase prices following fuel price hikes, particularly […]
Posted inAutomotive + Transportation
Auto sales fall 30% y-o-y in September
The great auto industry slump continues, with sales in September falling 30% y-o-y, with 12,300 vehicles sold during the month, according to an AMIC report picked up by Al Borsa. 9M2017 sales dropped 38% y-o-y with around 96,200 vehicles sold. Passenger car sales dropped 25% to 9,600 cars, while bus sales took a huge hit […]
Posted inAutomotive + Transportation
GE to deliver 100 locomotives to ENR
The Transportation Ministry has set a timeline with GE for it to deliver 100 locomotives and repair 81 for Egyptian National Railways, Al Shorouk reports. Minister Hisham Arafat says the priority for now is to refurbish and repair existing locomotives.
Posted inOther Business News of Note
SEIIC close to two acquisitions in consumer sector
The Saudi Egyptian Industrial Investment Company (SEIIC) is closing in on two acquisitions in the food and pharma sectors, General Manager Ahmed Attallah told Al Borsa. SEIIC hopes to acquire a 40-50% stake in each company, Attallah said.
Posted inEgypt Politics + Economics
Ikhwani businessman Hassan Malik charged with terrorism financing
The Prosecutor General charged Ikhwani businessman Hassan Malik with belonging to a terrorist organization and financing the group on Wednesday,according to the Associated Press. Malik has been in prison since October 2015.