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An Aussie who works in finance is looking to solo paddle the entire length of the Nile in a kayak, starting out in Rwanda and ending the 6,853 km journey off at our Egyptian Mediterranean shores. Sarah Davis, an accomplished kayaker, will be braving wild animals and, potentially, the war-torn banks of South Sudan as […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
AfDB to deliver USD 500 mn loan tranche in January
The African Development Bank (AfDB) will deliver the third and last USD 500 mn tranche, of its loan to Egypt in January, Reuters notes. AfDB has already delivered USD 1 bn of the USD 1.5 bn loan.
Posted inEnergy
NREA reaches agreement with Vestas over EUR 230 mn wind farm
Danish wind turbine manufacturer Vestas reached an agreement with the New and Renewable Energy Authority (NREA) to construct a EUR 230 mn, 250 MW wind farm, a source from Vestas tells Al Borsa. The windfarm would be the first project in the company’s plan to install 2.2 GW in generation capacity with total investments reaching […]
Posted inEnergy
Kuwait Energy acquires approval to complete sale of 25% stake in Abu Sennan concession to Global Connect Ltd.
Kuwait Energy obtained the necessary approvals to complete the sale of 25% of its stake in the Abu Sennan concession to Global Connect Ltd, the company announced in a statement to Reuters yesterday. The two sides had signed a Farm Out Agreement in December last year but had been waiting for the EGPC and Oil […]
Posted inInfrastructure
SCA signs EUR 300 mn agreement with Royal IHC to purchases two dredgers
Suez Canal Authority (SCA) chief Mohab Mamish signed yesterday a EUR 300 mn agreement with Dutch Royal IHC to purchase two dredgers for the Suez Canal fleet, Al Mal reports. The new dredgers will allow the authority to expand its base of operations to all ports in Egypt, Mamish said, which could help the authority […]
Posted inBasic Materials + Commodities
Savola Group at odds with local sugar producers over protectionist duties
Saudi Arabia’s Savola Group has found itself at odds with local sugar producers over whether the government should implement a 20% anti-dumping duty on imports of raw sugar. Local sugar producers and beet farmers, including El Nobaria for Sugar Refining head Hassan Kamel, say that the government had promised them it would enact protectionist duties […]
Posted inBasic Materials + Commodities
Agriculture Ministry is in talks with Australia, Canada and China to export new produce
The Agricultural Export Council and Agriculture Ministry have begun negotiations with Australia, Canada and China to export new products in the near future, Fresh Plaza reports. Egypt wants to export grapes to Australia and Canada, following success in exporting them to China. The ministry also wants to export onions, pomegranates, and dates into China.
Posted inReal Estate + Housing
Gov’t begins demolishing houses in Maspero
The Housing Ministry and the Cairo Governorate will demolish the first building in the Maspero area next week as part of the plan to “develop” the area, Al Masry Al Youm reports. 936 families residing in the area were compensated and any petitions by the residents will be looked into thoroughly, Minister Moustafa Madbouli says. […]
Posted inTourism
Tourism Minister heads to Vatican to attend blessing of the Holy Family Trail
Tourism Minister Yehia Rashed is heading to the Vatican on Wednesday to meet Pope Francis and attend the Pontiff’s blessing of launching the Holy Family Trail in Egypt,according to AMAY. The Holy Family Trail tracks Joseph, Mary and Jesus’ exodus from Bethlehem to Egypt to escape King Herod and adds to our repertoire of religious […]
Posted inAutomotive + Transportation
EBA halts production of Zemix microbus
Egyptian British Automotive (EBA) has decided to halt assembly of one of its microbus models,a source close to the company tells Al Mal. The company was only able to produce 50 units of the 14-seater vehicles in the last nine months due to rising costs, which are making it hard to continue production.