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Real estate in Egypt may be booming, but it deceptively inflates growth indicators without producing sustainable growth and development, Mohamed Youssef writes for Al Shorouk. Youssef notes that real estate enjoys a wide range of benefits that has allowed it to grow substantially at a minimal cost, including the fact that it requires cheap (not […]
Author Archives: enterpriseam admin
Posted inWorth watching
Tech’s first war explored this fall movie season with The Current War
Tech’s first ‘war’ explored in The Current War: The business film nerd in us is tingling at the release of the trailer for “The Current War,” the tale of the epic rivalry between Thomas Edison and George Westinghouse over the future of electricity at the turn of the 20th century. Taking place nearly a century […]
Posted inDiplomacy + Foreign Trade
Mamish heads to Germany to promote investments
Suez Canal Economic Zone (SCZone) head Mohab Mamish embarked on a tour of four German cities on Sunday to promote investment, reports Daily News Egypt. The tour includes Berlin, Frankfurt, Hamburg and Munich and will put the spotlight on automotive, energy, SMEs and manufacturing companies.
Posted inDiplomacy + Foreign Trade
Sisi meets church delegation from the US
President Abdel Fattah El Sisi received a delegation from the National Council of American Churches, according to an Ittihadiya statement. Discussions revolved around equality for minorities and different sects, confronting terrorism and different ways of promoting religious discourse. The meeting was also attended by Foreign Minister Sameh Shoukry and leader of the Evangelical community in […]
Posted inDiplomacy + Foreign Trade
Sedki Sobhy in South Korea for cooperation talks
Egyptian Defense Minister Sedki Sobhy is in Seoul today for military and security cooperation talks with his South Korean counterpart and other top state officials, Xinhua reports.
Posted inEnergy
Electricity Ministry to tender EUR 40 mn solar power plant in Kom Ombo this month
The Electricity Ministry plans to issue a global tender this month for the development of a EUR 40 mn, 20 MW solar power plant in Kom Ombo, Aswan, officials tell Al Mal. The plant, Kom Ombo’s first, is being funded by the French Development Agency, which has also allocated EUR 8,000 to feasibility studies. Germany’s […]
Posted inBasic Materials + Commodities
Stabilizing EGP will lead to rebound in demand for beef
The stabilizing EGP will likely lead to a resurgence in beef consumption which had dropped significantly following the EGP float, predicts the US Department of Agriculture (USDA). Inflation following the float had cause a downward spiral in demand for beef. The devaluation coupled with the drop in tourism had made it difficult for importers, Stephen […]
Posted inManufacturing
Sumitomo Electric Wiring Systems Egypt opens second plant in Egypt
Japanese-British firm Sumitomo Electric Wiring Systems Egypt opened its second EGP 200 mn automotive electric wiring systems factory yesterday, according to an Investment Ministry statement. The plant brings the company’s total investments in Egypt to EGP 5.4 bn.
Posted inHealth + Education
Indian pharma player looks to expand in Egypt
Indian pharma producer Gufic Biosciences says it is looking at tapping generics and high-end life-saving products segment in emerging markets including Egypt, according to Business Standard. The company plans to provide high-end injections to the markets it is planning on penetrating at “a fraction of the current price.”
Posted inTourism
TDA to offer 67 mn sqm land plots in EGP for the first time
The Tourism Development Authority (TDA) is planning to tender 67 mn sqm of land to investors in EGP for the first time in 4Q2017, CEO Serag El Din Saad tells Reuters. The land plots will be priced once the Investment Act’s executive regulations are issued, he adds. The TDA will offer 34 mn sqm in […]