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The Egyptian Chemical Industries Holding Company (KIMA) is in talks with the banks financing its KIMA 2 fertilizer production facility in Aswan to acquire additional funding, Chairman Yasser El Naggar tells Al Masry Al Youm. The banks in question — National Bank of Egypt, Banque Misr, Banque Du Caire, Arab African Bank, and Blom Bank […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Agriculture Ministry signs agreement with Korea-Arab Society on agriculture city
The Agriculture Ministry and the Korea-Arab Society (KAS) — an intergovernmental NGO — signed a cooperation agreement which would see the latter help conduct a feasibility study on a USD 10 bn agriculture city in Ismailia, Al Mal reports. The bevy of projects in the city includes farms, fish farms, a water desalinations project, and […]
Posted inBasic Materials + Commodities
Egypt has enough sugar reserves to last until January
Egypt has enough sugar reserves to cover demand until January, Supply Minister Ali El Moselhy announced, according to Al Mal. The Supply Ministry is importing 850k tonnes of sugar for local consumption to be delivered by October. This comes during high season for sugar refineries, which run from July until November every year.
Posted inBasic Materials + Commodities
GASC issues tender for wheat delivery in September
The General Authority for Supply Commodities (GASC) issued a tender on Tuesday to purchase an unspecified amount of wheat for September delivery, Al Masry Al Youm reports.Results of the tender should come in tomorrow afternoon.
Posted inAutomotive + Transportation
Bus sales decline 51.2% in 1H2017
Bus sales dropped 51.2% y-o-y in 1H2017, compared to the same period last year,Al Mal reports, citing data from the Automotive Information Council (AMIC). Unit sales dropped to 6.1k from 11.8k in 1H2016. The decline was largely the cause of a 57% y-o-y drop in the microbus category. Suzuki led in bus sales, with Toyota […]
Posted inAutomotive + Transportation
Fiat Chrysler Automobiles adds Abu Ghaly as an Alfa Romeo dealer
Fiat Chrysler Automobiles (FCA) is certifying Abu Ghaly Motors to sell its Alfa Romeo brand, reports Daily News Egypt. The process is in its final stages and would make Abu Ghaly the second dealership in Egypt after Nile Engineering to operate as a retailer for the brand.
Posted inLegislation + Policy
No more courtroom drama
The Supreme Judicial Council ruled Monday that cameras will no longer be allowed in courts, Middle East Monitor reported. The ruling is meant to protect “the prestige of the judiciary and to stand in the way of what it may suffer.”
Posted inEgypt Politics + Economics
Egypt requests extradition of Ikhwan fugitive
The Egyptian embassy in Berlin reportedly filed a formal request for the extradition of alleged Ikhwani fugitive Abdel Rahman Ezz on Tuesday, Youm7 reports. Ezz, who had fled Egypt to Qatar, was not arrested but only detained, then released by the Interpol. It seems Egyptian authorities jumped the gun in assuming he was arrested.
Posted inEgypt Politics + Economics
Supreme Judicial Council files reports against three news websites
The Supreme Judicial Council accused three news websites of reporting false news, Daily News Egypt reports. Al Mesryoon, Al Omah and El Iqtisadi are said to have published false information on judges’ salaries. Al Mesryoon is one of the websites that have been blocked in Egypt.
Posted inNational Security
Two policemen killed in Al Arish -security officials
Two policemen were killed in independent attacks on security forces in North Sinai’s Al Arish on Tuesday, security officials tell Reuters. The attackers have not yet been identified, but authorities suspect Islamic militants. This latest incident brings the total number of police victims in the last five days up to at least 12, notes the […]