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Petrojet signed a MoU with Samsung yesterday which could see the latter subcontract on Samsung projects, Youm7 reports, without providing further details on the projects in question.
Author Archives: enterpriseam admin
Posted inHealth + Education
Health Ministry receives second and final tranche of USD 75 mn -Sahar Nasr
The Health Ministry received the second and final tranche of a USD 75 mn loan from the World Bank (WB) ahead of its July deadline, Investment and International Cooperation Minister Sahar Nasr said on Monday, according to Al Borsa. The announcement comes a month afterDeputy Health Minister Sayed El Shahed said that the WB will […]
Posted inReal Estate + Housing
Nile Real Estate Company launches first phase of New Cairo project
Nile Real Estate Company has launched the first phase of its 6,00 sqm Nile Park residential compound in New Cairo, Amwal Al Ghad reports. Nile Park is part of the Beit Al-Watan project, which sells property to expats in USD. The company anticipates sales will reach EGP 35 mn, according to Daily News Egypt.
Posted inTourism
Hilton to open first hotel out of seven new hotels end of 2018
Hilton will open its first hotel under its new contract to manage seven establishments at the end of 2018, Vice President of MENA Operations Mohab Ghali tells Al Borsa without naming which hotel will be first under the program. Four of these hotels will be in Cairo: Hilton Nile Tower (previously Grand Hyatt), Hilton Nile […]
Posted inAutomotive + Transportation
Fuel subsidy cuts see conversions of cars to natural gas up 250%
Gastec chairman Hesham Radwan has said they have seen a 250% jump in cars converting from gasoline to natural gas, according to Al Mal. The company has been converting engines to run on natural gas at a rate of around 35 cars per day from a usual 10 since the government cut fuel subsidies last […]
Posted inAutomotive + Transportation
MCV supplying Mowasalat Misr with 100 buses
MCV is supplying private transport company Mowasalat Misr with 100 buses, 16 of which have already been delivered, MCV General Manager Amr Nassar told Al Mal. No details were provided on the value of the sale.
Posted inLegislation + Policy
New Traffic Act to limit truck licenses to companies, institutions only
The new Traffic Act will limit the issuing truck licenses solely to companies and other organizations, a senior Interior Ministry official tells Al Masry Al Youm. The move is meant to reduce the number of trucks on the road to cut down on congestion.
Posted inEgypt Politics + Economics
El Warraq area had been slated for a tourism project, says Deputy Governor
El Warraq island in southern Cairo — the site of clashes between residents and police looking to clear the neighborhood — had apparently been slated for a tourism project by the Giza Governorate, Deputy Governor Alaa Horas tells Al Mal. The project was supposed to be part of a wider plan to develop islands along […]
Posted inEgypt Politics + Economics
Gov’t to revamp planning methodology, look at three years at a time
The government is working on moving to planning for three years at a time from the current system that just focuses on one year at a time, an advisor to the planning minister told Al Borsa. Planning just one year at a time does not allow for a financial ceiling for multi-year projects and does […]
Posted inNational Security
Roadside explosion kills five policemen
Five policemen were killed and six others were injured in two roadside explosions in Al Arish on Monday, Reuters says. No one has yet claimed responsibility for the attacks.