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An Egyptian-American bodega owner from Queens is now a favorite political commentator for Egyptian news channels: 48-year-old Hatem El Gamasy was just a regular guy who made a living off the bodega he owns in NYC and wrote opinion pieces on current affairs for fun. It was only last year that his “improbable broadcast career […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
GAFI, Singapore’s SECC Group to cooperate on developing investment zones: The General Authority for Freezones and Investment signed an agreement with Singapore’s SECC Group yesterday that will see both sides cooperate on the development, management, and promotion of new investment zones, according to an Investment Ministry statement. The Singaporean firm will prepare preliminary studies for […]
Posted inEnergy
Samanoud and Abo El Matameer transformer stations get EUR 100 mn
BNP Paribas has signed a EUR 100 mn agreement to facilitate financing the construction of two 220/500 kV transformer stations in Samanoud and Abo El Matameer, according to Al Mal. The funding will be extended to the Finance Ministry on a long-term basis and is guaranteed by Euler Hermes with BNP Paribas the lead arranger. […]
Posted inBasic Materials + Commodities
Agriculture Ministry to enforce spot checks for pesticide residues
The Agricultural Ministry will be conducting spot checks for pesticides residues on fruits and vegetables in local markets, according to AMAY. Agricultural Minister Abdul Moneim El Banna witnessed the signing of a protocol Sunday with the Agricultural Research Center to make the testing routine and part of a program to monitor pesticide levels.
Posted inManufacturing
Trade Ministry signs MoU with Siemens on industrial development
The Trade and Industry Ministry signed yesterday an MoU with Siemens Egypt to train the industrial labor force and implement a technological development strategy for industrial zones, Ahram Gate reports. The first phase of the partnership will be implemented in the Rubiki Industrial Zone and Damietta Furniture City, Minister Tarek Kabil said at the ceremony.
Posted inReal Estate + Housing
Housing Ministry completes amendments to Unified Building Codes
The Housing Ministry has completed amending the Unified Building Codes and has sent them to the Ismail cabinet for review, said Housing Minister Moustafa Madbouly. The amendments appear to extensive, and focus on facilitating licensing, tightening safety codes, and enforcement, according to Al Borsa. Under the amended law, building licenses will be granted for a […]
Posted inReal Estate + Housing
Sephora invests EGP 2.5 bn in New Cairo and Nasr City
Sephora Heights for Real Estate and Development is currently working on two projects in New Cairo and Nasser City worth EGP 2.5 bn, according to Al Mal. The company is investing EGP 1 bn into the Sephora Heights development in New Cairo, and EGP 1.5 bn into developing 24 residential towers in Nasser City.
Posted inTourism
Egypt is banking on China to boost tourism, says Luxor governor
Egypt is banking on China to significantly boost its tourism industry, particularly as Chinese tourists have begun visiting Egypt in larger numbers since President Xi Jinping’s visit last year, Luxor Governor Mohamed Badr tells Xinhua. Badr says that Chinese visitors tend to flock to Luxor as an important historical and cultural destination, and the governorate […]
Posted inTourism
Egypt resumes participation in tourism expo in Moscow
Egypt will participate for the first time since 2015 in this year’s iteration of the OTDYKH LEISURE2017 tourism expo, which runs from Tuesday to Thursday in Moscow, Egyptian Tourism Federation acting head Karim Mohsen tells Reuters. The Tourism Ministry’s Tourism Promotion Authority and the Federation (standing in for the private sector), will represent Egypt at […]
Posted inBanking + Finance
China Development Bank signs loan agreements with SAIBANK, Banque Misr
The China Development Bank (CDB) signed an agreement with SAIBANK to provide it with a USD 40 mn loan for SME funding, and a separate CNY 260 mn (USD 40 mn) loan for infrastructure projects, Xinhua reports. CDB also signed an MoU with Banque Misr to provide it with a CNY-denominated loan, with the value […]