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21 international companies will begin operating in the Ain Sokhna industrial zone jointly managed by DP World and the Suez Canal Economic Zone (SCZone) in January 2018, SCZone chairman Mohab Mamish tells Al Masry Al Youm. The partnership is expected to create 150k new jobs, 90% of which will be given to Egyptian workers. He […]
Author Archives: enterpriseam admin
Posted inManufacturing
Germany’s ThyssenKrupp to develop production units for Abu Qir Fertilizers
Germany’s ThyssenKrupp agreed to help Abu Qir Fertilizers develop two production units for a total cost of EUR 133 mn, CEO and Managing Director Thore Lohmann said, according to Al Borsa. The contracts are in the final stages and work is set to begin early next year. Lohmann said that ThyssenKrupp expects to sign development […]
Posted inManufacturing
No monopoly in the steel industry, says El Garf
A probe by the Egyptian Competition Authority (ECA) found no evidence of a monopoly and a conspiracy to raise the price of steel, ECA head Mona El Garf tells Al Masry Al Youm. She attributes the sharp rise in steel prices of late to a spike in global price of iron pellets, a production input […]
Posted inReal Estate + Housing
CGP planning on awarding contracts of EGP 1.5 bn this year
Capital Group Properties is planning on signing EGP 1.5 bn worth of contracts by the end of the year, EGP 500 mn of which will go towards their Al Burouj project, the company’s head of projects Amgad Hassanein tells AMAY. Al Burouj is a EGP 50 bn project set to be completed over four phases […]
Posted inTourism
German tourists increase Hurghada holiday bookings in August
German tourists increased their bookings for holidays in Hurghada in August, according to figures released by tourism portal FVW. “The main Egyptian Red Sea holiday destination airport Hurghada again enjoyed high growth rates on the German package holiday market in August with a 74% surge in sales … This came after a 65% rise in […]
Posted inTourism
EgyptAir offers discount to celebrate resumption of flights to Tokyo
EgyptAir is offering a 50% discount on its inaugural flights to Tokyo on 28 October, according to Al Mal.
Posted inTourism
CNN to produce report promoting tourism in Egypt
The Tourism Ministry has reached an agreement with CNN to promote tourism in Egypt, according to a ministry statement on Saturday. The ministry will sponsor a special report on Egypt’s tourism hotspots which will air on the network at the end of the year. The Tourism Ministry currently sponsors the CNN Weather Watch report (watch, […]
Posted inBanking + Finance
CIB signs agreement with Khadamaty to allow cash deposits and withdrawals from smart wallet
CIB has reportedly signed an agreement with e-payments firm Khadamaty which would see CIB customers deposit and withdraw cash from their CIB smart wallet through Khadamaty’s outlets, Khadamaty’s chairman Ehab Saeed tells AMAY.
Posted inOther Business News of Note
Antiquities Ministry adds Alexandria synagogue to heritage list
The Antiquities Ministry is adding the Menasche Synagogue in Alexandria to the national heritage list of Islamic, Coptic and Jewish monuments, Ahram Online reports. The synagogue was built by philanthropist Baron Yacoub de Menasche in 1860, who was the first of four Menasche men who headed the Alexandrian Jewish community.
Posted inOther Business News of Note
Jumia signs agreement to promote SME products
Online electronics retailer Jumia has signed an agreement with the Small and Medium Enterprise Authority to showcase SME products on its site, according to AMAY.