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Oil Minister Tarek El Molla invited Global engineering and construction giant Bechtel to participate in some of the biggest energy projects taking place in the country, Al Masry Al Youm reports. The MOPCO and Ethydco refining complexes, as well as a number of oil and gas finds, were among the projects El Molla pitched to […]
Author Archives: enterpriseam admin
Posted inEnergy
Huawei, Shenzhen Clou sign agreement to manufacture smart meters locally
Military Production Ministry subsidiary El Maasara For Engineering Industries signed an agreement with Huawei and Shenzhen Clou Electronics Company that will see the Chinese companies manufacture smart electricity meters, Al Shorouk reports. The Electricity Ministry had contracted local manufacturing of meters to the ministry, with an eye towards installing 20 mn smart meters over the […]
Posted inHealth + Education
Cooperation to build Egyptian-Japanese schools not canceled, remains postponed
The cooperation protocol between Egypt and Japan to build schools that operate using Japanese curricula has not been canceled, but was postponed for “one semester or one school year,” a source from JICA told Al Mal. The source did not give a reason behind the delay in implementing the pilot program, which the Education Ministry […]
Posted inHealth + Education
Meds shortages to be resolved within six months as Health Ministry agrees to cancel “box system” registration
Health Minister Ahmed Rady has agreed to cancel the so-called “box system” for the registration and trademarking of medicines, which recently resulted in market shortages, MP Mohamed Elsewedy announced yesterday, according to Al Masry Al Youm. Elsewedy expects the shortages to be resolved in six-months’ time. The box system has been criticized for limiting generic […]
Posted inReal Estate + Housing
SECON investing EGP 4 bn in new administrative capital
The Saudi Egyptian Construction Company (SECON) plans to invest EGP 4 bn in new developments in the 70 feddan area it has purchased in the new administrative capital, said the company’s CEO Darwish Hassanein, according to Ahram Gate. The company had signed its first design and consulting contracts for the projects, he said. SECON is […]
Posted inTourism
Coptic tombstone discovered in Luxor
Archaeologists discovered a Coptic tombstone in Luxor whose exact origins and date have yet to be determined, Supreme Antiquities Council Secretary General Mostafa Waziri tells Ahram Online. The limestone tombstone was discovered during renovation works meant to turn the Sphinx Avenue area into an open-air museum.
Posted inBanking + Finance
EDB awaits central bank approval on USD 500 mn credit facility agreement with Afreximbank
The Export Development Bank (EDB) is waiting for the central bank’s approval on a USD 500 mn credit facility agreement with the African Export-Import Bank (Afreximbank), which will be used to fund trade activities between Egypt and other African countries, EDB Chairman Mervat Sultan tells Al Borsa. The bank is also in talks with a […]
Posted inOther Business News of Note
Vezeeta looking to expand in Africa and Arab countries
Online medical booking company Vezeeta is eyeing expansion into Africa and the Arab world, according to a statement picked up by Al Mal. The firm is looking at North African markets, as well as the UAE and KSA. Vezeeta which has raised USD 11 mn from investors, recently made noise by getting on the Forbes […]
Posted inOther Business News of Note
120k feddans to be tendered under second phase of 1.5 mn feddans project
Al Reef Al Masry plans to tender 120k feddans under the second phase of the 1.5 mn feddans project in the first half of November, Chairperson Atter Hannoura tells Al Borsa. The land will be granted to companies that met requirements in the first tenderbut were not awarded land plots. The tender includes 45k feddans […]
Posted inLegislation + Policy
Social Welfare Act to be ready, sent to House for discussion before year’s end -Wali
The Social Welfare Act is nearly complete and will be sent to the House of Representatives for discussion before the end of the year, Social Solidarity Minister Ghada Wali told reporters yesterday, Ahram Gate says. The House Manpower Committee said earlier this month that it would begin discussing the bill whether or not it receives […]