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The Agriculture Ministry looks set to acquiesce to the demands of countries banning imports of Egypt’s agriculture goods by setting up a “white list” and a “black list” of exporters, government sources tell Al Mal. Egypt’s ports will also be adopting stricter monitoring measures that will include banning exports by any company flagged for sending […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Indian traders starting to import onions from Egypt
Private traders in India are starting to import onions from Egypt, Times of India reports. 2,000 tonnes of Egyptian onions have been exported to India so far. A government official says India “is serious about the price rise issue and keeping watch on onion prices in wholesale and retail markets.”
Posted inBasic Materials + Commodities
Holding Company for Cotton receives eight international offers for cotton mill overhaul
The Holding Company for Cotton, Spinning and Weaving has reportedly received eight offers from unnamed international companies for its planned cotton mill overhaul, according to Al Masry Al Youm. The suitors come from Turkey, India, the US, Italy, and China.
Posted inManufacturing
EZDK renews scrap management agreement with Harsco
Industrial services provider Harsco announced that its metals and minerals division renewed a five-year scrap management contract with Ezz Dekheila Steel Company (EZDK). The contract extends Harsco’s scrap management services at the EZDK Alexandria plant. The value of the contract was not disclosed, but Harsco notes is has been “providing on-site steel mill services in […]
Posted inReal Estate + Housing
Real estate investments slowing down following interest rates hike
The real estate industry is slowing down after the latest interest rates hike, said Mamdouh Badr El Din, chairman of the Federation of Egyptian Chambers of Commerce’s real estate division. Real estate purchases have also been declining, as customers are now parking liquidity in banks, to benefit from the rate hike, rather than purchasing assets. […]
Posted inReal Estate + Housing
Samcrete investments record EGP 3.2 bn
Investments by Samy Saad's Samcrete in Egypt have now totalled EGP 3.2 bn, CEO Hisham El Kheshen says, according to Al Borsa. The company will begin delivering homes at its largest project, Pyramids Heights, in 1Q2020, El Kheshen adds and plans on signing partnership agreements for two projects in East Cairo and in the North […]
Posted inTourism
Banks to sell each pilgrim up to SAR 3,000 for hajj season
Local banks will be selling each pilgrim going on hajj next month up to SAR 3,000, Al Masry Al Youm said on Wednesday. The move is a sign of the continued availability of foreign currency in the banking system. The amount would be enough for three medium-sized bags of overpriced clothes from H&M. Or a […]
Posted inBanking + Finance
WBG Financial Inclusion Initiative to fund regional center for digital financial inclusion in Cairo
The World Bank Group’s Financial Inclusion Global Initiative is funding the establishment of an regional center for digital financial inclusion in Egypt, according to an ICT Ministry statement. The center will prepare periodic reports on the state of digital financial inclusion in the Arab world, and coordinate between regulators and providers of telecom and financial […]
Posted inEgypt Politics + Economics
Warraq residents to reach a settlement with authorities?
Residents of the Warraq island will be receiving a “fair” monetary compensation from the government if they choose to willingly remove themselves from the disputed area, officials reportedly told residents in a meeting yesterday, according to Al Masry Al Youm. The South Cairo island was the site of clashes that resulted in one death last […]
Posted inEgypt Politics + Economics
MPs object to Supply Ministry’s minimum income threshold for food subsidy beneficiaries
Some parliament members are not happy with the Supply Ministry’s Tuesday decision to introduce a minimum income threshold of EGP 1,500 a month for food subsidy beneficiaries, according to Al Borsa. The minimum income threshold should be raised to EGP 2,000 a month, suggested House Economics Committee MP Mohamed Badrawi, as EGP 1,500 a month […]