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Confusion over the red and pink types of the poppy flower were behind the holdups regarding the poppy-containing wheat shipments, the French embassy has suggested, according to Bloomberg. “Red poppies, or papaver rhoeas, can grow in fields of grain crops where their life cycle matches management of the land, according to the Botanical Society of […]
Author Archives: enterpriseam admin
Posted inTourism
EgyptAir to resume flying to Tokyo
EgyptAir will resume flying the Cairo to Tokyo route in October following a four-year suspension, Ahram Online reports. “EgyptAir chairman Safwat Mosalam said that flights would resume starting 29 October, with one flight scheduled every Saturday evening.” The route was suspended in 2012 following weak demand.
Posted inTourism
Egypt wins tourism video award
The This is Egypt promotional campaign (watch, runtime: 1:24) has won Best Tourism Promotional Video in the Middle East at the General Assembly of the World Tourism Organization (WTO) in China, beating out 63 other contestants,according to Al Shorouk.
Posted inBanking + Finance
EGX gives companies not meeting listing requirements two months to present plans
The EGX has decided to notify companies that do not meet the listing regulations and gave them six months to address the bourse within two months with a plan that has a maximum timeline of six months to rectify the issues. Among those receiving warnings are Orange Egypt and QNB Al Ahli Bank for violating […]
Posted inBanking + Finance
Premiere Holding considers launching agriculture, real estate investment funds
Boutique investment firm Premiere Holding is considering setting up a EGP 200 mn fund to invest in agriculture by the end of the year, reports AMAY. The firm is also considering launching a real estate fund with capital of EGP 250 mn. The firm, which focuses on investments in securities, agriculture, real estate and SMEs, […]
Posted inBanking + Finance
NBE considers setting up factoring business
National Bank of Egypt is considering launching factoring services,Vice President Yehia Abou El Fotouh also said, according to AMAY.
Posted inOther Business News of Note
Al Saqqaf to invest EGP 30 mn in cleaning products factory
Saudi Arabia’s Al Saqqaf Group is investing EGP 30 mn in a factory to produce cleaning products,said company chairman Mohamed Al Saqqaf, according to Al Mal. His statements came at the signing of an agreement between the company and Amer Group to co-develop a EGP 300 mn mall in 6 October City.
Posted inOther Business News of Note
GAFI approves establishing four new investment zones in Luxor, Suez
The board of the GAFI has approved establishing four new investment zones in Suez and Luxor. The investment zone in Suez would focus on SMEs in the fields of food and other manufacturing industries. Luxor would get three zones, two of which to support poultries and the third for agricultural development.
Posted inOther Business News of Note
BPE Partners to liquidate Beltone Midcap by year’s end
BPE Partners is planning to liquidate the EGP 180 mn Beltone Midcap Fund, BPE CEO Abdel Moneim Omran said, Al Masry Al Youm reports. BPE has received offers to be bought out from investments in the Cairo Kidney Center and Bio Pharma Egypt, according to Omran.
Posted inLegislation + Policy
Regs for the law government repossessed state land with Maglis El Dawla
The executive regulations for the law which governs regaining possession of land seized by the government for being illegally occupied have been sent to the Council of State (Maglis Al Dawla) for review, Prime Minister Sherif Ismail said yesterday, according to Al Ahram. Cabinet had signed off on the regulations last week.