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The General Authority for Supply Commodities (GASC) purchased 300k tonnes of Russian, Romanian, and French wheat in an international tender on Tuesday, Al Mal reports.
Author Archives: enterpriseam admin
Posted inHealth + Education
Medochemie considers building EUR 20 mn factory in Egypt
Cypriot pharma company Medochemie wants to build a EUR 20 mn manufacturing facility in Egypt, company representatives told Industrial Development Authority Chairman Ahmed Abdel Razek, according to Al Masry Al Youm.
Posted inHealth + Education
Planning Ministry signs EGP 400 mn grant MoU for education programs
Planning Minister Hala El Said signed an MoU with Banque Misr Chairman Mohamed El Etreby and NBE Chairman Hisham Okasha for a EGP 400 mn grant to finance educational and training programs for state bureaucrats, Al Mal reports. The grant will be disbursed over two years and aims to improve the performance and efficiency of […]
Posted inAutomotive + Transportation
Banque Misr announces financing for “Transport Egypt” project
Banque Misr announced on Tuesday that it will be financing 60% of the first phase of the Transport Authority’s “Transport Egypt” project, Youm7 reports. The financing facility will be in conjunction with a central bank initiative to promote domestic SMEs. The facility will be extended at 5% interest and aims to bring 50 minibuses and […]
Posted inBanking + Finance
CBE, Nile University sign agreement to support SMEs
The CBE signed a five-year agreement with Nile University to support entrepreneurs, according to a statement from the central bank. Under the agreement, the university will establish incubators with bank funding and provide technical support to SMEs.
Posted inOther Business News of Note
I’ll take Valeo for 500
French auto parts maker Valeo intends to create 500 jobs at their operation in Smart Village, a company vice-president said in a meeting in France yesterday with Yasser El Kady, Minister of Communication, Al Mal reports.
Posted inLegislation + Policy
Investment promotion campaign to be launched for Egyptians abroad
Investment and International Cooperation Minister Sahar Nasr and Immigration Minister Nabila Makram launched a campaign to encourage Egyptians abroad to invest in Egypt, according to a ministry statement. The agreement sets up a dedicated office at the Investors Services Center to serve Egyptians who live abroad.
Posted inLaw
Andersen Global partners with Egyptian firm Maher Milad Iskander & Co.
Andersen Global is opening up shop in Egypt after signing a partnership agreement with local tax and legal firm Maher Milad Iskander and Company, according to International Tax Review. The move is part of a global expansion by Andersen which signed similar agreements in Turkey and Germany over the past month.
Posted inEgypt Politics + Economics
Government to launch development, housing projects in Halayeb and Shalatin
The government is planning to launch development and housing projects in Halayeb and Shalatin, including two ports in Abu Ramad and Shalateen at a cost of EGP 270 mn, Red Sea Governor Ahmed Abdallah told the press yesterday, Al Masry Al Youm reports. Work on the ports will begin next week and wrap within a […]
Posted inEgypt Politics + Economics
Remittances increase by 11% y-o-y in May -CBE
Remittances from expatriate Egyptians increased by 11% y-o-y in May to USD 1.7 bn, the central bank said. Reuters reports that the amount increased from the USD 1.5 bn recorded in May 2016.