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Foreign Minister Sameh Shoukry discussed jumpstarting Palestinian-Israeli peace talks with his Jordanian and Palestinian counterparts in Cairo, Jordan News Agency Petra reports. A US delegation headed by nepotism beneficiary in-chief Jared Kushner will arrive in a few days for talks with the Foreign Ministers on resuming the peace process. “These consultations come in continuation of […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
El Sisi meets with Somali president in Cairo
President Abdel Fattah El Sisi met with his Somali counterpart Mohamed Abdullahi Farmajo in Cairo yesterday to discuss regional cooperation on matters including economy, security, and anti-terrorism efforts, according to an Ittihadiya statement. Xinhua also has the story.
Posted inDiplomacy + Foreign Trade
Egypt will take part in the Damascus International Fair
Egypt is taking part in the Damascus International Fair, the deputy head of the Cairo Chamber of Commerce Ali Shoukry tells Xinhua. The Assad government had been touting the international trade fair — the first such trade event since the Syrian Civil War began in 2011 — as a resumption of business in the war-torn […]
Posted inDiplomacy + Foreign Trade
Army Chief of Staff off to Japan
Egyptian Armed Forces Chief of Staff Mahmoud Hegazy left to Tokyo on Sunday to meet with Japanese army officials, Al Masry Al Youm reports. The meetings will revolve around cooperation and boosting military relations.
Posted inInfrastructure
ENR planning to establish four new cargo rail shipping lines
The Egyptian National Railways is planning to establish four new cargo rail shipping lines at an estimated total cost of EGP 4.2 bn, an unnamed official tells Al Mal. The first 34 km line, which is expected to cost EGP 700 mn, will connect Sadat City in Menoufiya with El Manashy village in Giza. While […]
Posted inInfrastructure
Phosphate Misr willing to pay for Abu Tartur
The state-owned Phosphate Misr said it would foot the potential USD 350 mn bill to revive the 700 km Abu Tartur-Safaga railway line, Al Mal reports. The company would be granted certain concessions if it decides to fund the renovations, according to Transport Ministry aide Amr Shaat, who did not get into details. The Ismail […]
Posted inBasic Materials + Commodities
GASC issues tender for soy oil, sunflower oil
The General Authority for Supply Commodities (GASC) said it is seeking soy oil and sunflower oil in a tender, Reuters reports. GASC is looking to purchase at least 10,000 tonnes of sunflower oil by 1-15 October and 30,000 tonnes of soy oil by 15-30 October. GASC is also seeking EGP-denominated offers for at least 10,000 […]
Posted inManufacturing
Banks stop funding 50% of Upper Egypt factories for lacking permits
50% of factories in Upper Egypt have stopped production after banks reportedly refused them financing, Assiut Investors Association head Ali Hamza says, according to Al Shorouk. Banks are insisting that factories need to first obtain the required licenses to qualify for loans, Hamza says, explaining that the amount of red tape and cost of fees […]
Posted inManufacturing
Arafa Holding establishes JV with Italy’s Gherardi to export ready-made garments
Arafa Holding established a joint venture with Italian garment-maker Gherardi at the Dubai Multi Commodities Centre yesterday, according to an EGX filing. The company named Italian Shirts DMCC will manufacture ready-made garments in Egypt and export its output to Europe. Arafa Holding will hold a 40% stake, Gherardi 50%, and an unnamed “strategic investor” will […]
Posted inReal Estate + Housing
SODIC spent EGP 804 mn of its 2014 capital increase as of 1H2017
SODIC has spent EGP 804 mn in proceeds from its 2014 EGP 992.9 mn capital increase as of 1H2017, according to an EGX filing. Among the noteworthy expenditures are the EGP 400 mn invested in its Villette project in 2014 and EGP 191 mn spent to acquire the Tobrouk Building Company and purchase a 172k […]