Author Archives: enterpriseam admin

Is the Oil Ministry reworking the timeline of its “Egypt as an energy hub” timeline? It appears that the Oil Ministry has set a ambitious target of turning Egypt into a regional energy hub by 2018, three years ahead of schedule. Oil Minister Tarek El Molla told EGPC workers it is necessary to complete the […]

No metro price hikes until 2020: The prices of metro tickets will not be rising in 2018 despite the increases in fuel and energy prices, Transportation Minister Hisham Arafat tells Al Shorouk. He appears to refute statements he made last Saturday where he supposedly said that the pricing scheme will change in 4Q18. He added […]

In other metro news, the National Tunnels Authority (NTA) will sign a preliminary contract today for the Cairo Metro’s Line 6 with Canada’s Bombardier, according to Al Borsa. The line will be complete by 2022 and run parallel to Line 1, NTA spokesperson Hassan Tawfik said. Bombardier is expected to begin arranging project financing once […]

The Ismail government has decided to continue banning rice exports during the coming period until local consumption is fulfilled, Supply Minister Ali El Moselhy announced yesterday, Al Shorouk reports. The government had reinstated the export ban last year, after flip-flopping on the policy a few times. Egypt had been banning rice exports on and off […]

Toyota is planning to increase its investment in Egypt in the next five years, Toyota Egypt’s CEO Ahmed Monsef told Daily News Egypt at the launch ceremony of its new USD 8.5 mn Toyota Fortuner production line yesterday. “Egypt is a very important market to us. We plan to make it our regional hub in […]

Hilton Hotels is also planning on expanding in Egypt with seven hotels in Cairo, Hurghada, and Ain Sokhna, in the next four years, Hilton MENA’s newly-appointed VP for Operations Mohab Ghali said, according to Al Shorouk. The company had decided to make Egypt the regional headquarters for the hotel chain, as it has been the […]

MOVES- Memphis Pharma appointed Amal Abdelwahed as the company’s new managing director, effective yesterday, Al Borsa reports. Abdelwahed succeeds Osama Abdelsattar, who resigned from his positions as managing director and chairman of the company, Al Mal reports.

MOVES- Abdel Aziz Nosseir was appointed as the executive director of the CIB-affiliated Egyptian Banking Institute, and began his position at the beginning of June, Youm7 reports. The position was held in the past by current Planning Minister Hala El Said. Nosseir spent eight years at CIB, after which he taught business management at the […]

Hear ye, all you proud parents of recent graduates, private universities’ tuition fees have been hiked by 10%, according to statements by Higher Education Minister Khaled Abdel Ghaffar yesterday. The fee increase applies to the 20 private universities in the country, including those established by foreign governments, Egypt Independent reports. Some universities, including the American […]

Jumia is expecting e-commerce in Egypt to grow to USD 2.7 bn in 2020, according to Al Borsa. The number of Jumia customers who pay by cash decreased to 8% of total customers last year from 98% in 2012, CEO Hesham Safwat says. Market dynamics had played a crucial role in the emergence of e-commerce […]