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Saudi Arabia’s Savola Group is eying expanding in Egypt, said the company’s CEO Bader Hamad Al Aujan at a meeting with Trade and Minister Tarek Kabil and Supply Minister Ali El Moselhi, according to Al Masry Al Youm. Though Al Aujan was vague on the nature of this expansion, El Moselhi had reportedly said at […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Agriculture Ministry announces new fertilizer prices
The Agriculture Ministry approved yesterday hiking prices on urea and nitrate fertilizers to EGP 3,200 and EGP 3,100 per tonne, respectively, a ministry source tells Al Shorouk. The Farmers’ Syndicate is objecting to the new prices, which come into effect today, saying the hikes were not studied adequately and will benefit businesses at the expense […]
Posted inManufacturing
MAM looking for investors to help fund EGP 450 mn aluminum chip factory
Misr Insurance subsidiary Misr Asset Management (MAM) is shopping for investors to help fund the construction of the Metallurgical Industries Holding Company’s EGP 450 mn aluminum chip factory in Beni Suef industrial zone, MAM Chairman Atef El Mahmoudy tells AMAY.
Posted inManufacturing
Trade Ministry prepares a strategy to develop spinning and weaving production
The Trade and Industry Ministry is preparing a strategy to develop the spinning and weaving sector that will target each phase of the production chain, Minister Tarek Kabil announced on Saturday, Al Masry Al Youm reports. The ministry is also preparing plans for the New Textile City it intends to establish.
Posted inHealth + Education
Cleopatra Hospital’s EGM approves raising authorized capital to EGP 2 bn
Cleopatra Hospital Group’s extraordinary general assembly approved increasing the company’s authorized capital to EGP 2 bn from EGP 800 mn, the company said in a bourse filing on Sunday (pdf). As we noted last week, Cleopatra is reportedly aiming to invest some EGP 1 bn on new acquisitions in 2018.
Posted inHealth + Education
Health Ministry in talks with Eli Lilly to acquire cancer treatment at half price
The Health Ministry is in talks with US pharma manufacturer Eli Lilly to acquire its new cancer treatment for the local market at a discounted cost, Al Mal reports. The ministry is hoping to strike an agreement with the company to purchase the treatment at half its current cost of EGP 44,000.
Posted inHealth + Education
Exposed water reservoirs likely behind Dengue fever breakout in Qusair, Qena
Water reservoirs in the city of Qusair are uncovered and provide fertile ground for Dengue fever-containing mosquito larvae to grow, Health Ministry spokesperson Khaled Megahed said yesterday, according to Ahram Gate. This came after several cases of Dengue fever were reported in Qusair and Qena.
Posted inTourism
Tourism Ministry to disburse charter flights incentives program payments this month
The Tourism Ministry will disburse overdue payments to foreign charter airlines under the 2015 incentives program by mid-October, Tourism Promotion Authority Vice President Ahmed Hamdy tells Youm7. The payment will cover the January-March 2017 period. The ministry has also given a preliminarily nod to extending the program for an additional year, Hamdy says.
Posted inTourism
Thomas Cook to fly to England twice a week from Marsa Alam
Thomas Cook will begin operating two weekly flights between the UK and Marsa Alam starting 19 October, the company’s Egyptian agent, Bright Sky CEO Moudy El Shaer, tells Al Borsa. The first will connect to Gatwick Airport, while the second, which will start on 30 October, will connect to Birmingham Airport. The new flights are […]
Posted inAutomotive + Transportation
Geyushi Motors in talks to buy EGP 200 mn auto plant
Egypt’s agent for China’s FAW Group, Geyushi Motors, is in talks to acquire an auto plant in 10 Ramadan City for EGP 200 mn, to begin assembling company models locally, a source close to the negotiations tells Al Mal. Operations at the 80k sqm facility, which would allow Geyushi to begin production almost immediately, had […]