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President Abdel Fattah El Sisi talked security on Wednesday with a Congressional delegation headed by Republican Congressman Jeff Denham, according to an Ittihadiya statement.
Author Archives: enterpriseam admin
Posted inEnergy
SDX Energy sees reserves on phase one of its South Disouq concession reach 180 bcf
SDX Energy sees reserves on phase one of its South Disouq concession reach 180 bcf of gas reserves and around 8.73 mn bbl of condensates, the company confirmed according to Proactive Investors. SDX Energy expects to produce around 45 mcf/d once phase one is online, Country Manager Ahmed Moaz tells Al Mal.
Posted inInfrastructure
Feasibility studies for East Port Said’s USD 765 mn container terminal done
The Holding Company for Maritime and Land Transport completed feasibility studies for a USD 765 mn container terminal at the port in East Port Said, Chairman Mohamed Youssef tells Al Borsa. Egypt’s bumpy negotiations with Singapore’s PSA International over the terminal seem to have once again fallen through, as the Port Said Container and Cargo […]
Posted inBasic Materials + Commodities
GASC to purchase soybean oil locally for the first time
The General Authority for Supply Commodities (GASC) will be buying 20k tonnes of soybean oil from a local manufacturer for the first time this August, Ahram Gate reports. A tonne will cost GASC around EGP 281 mn — a price much lower than what international firms offered, according to Supply Ministry adviser Mohamed Seweid. Egypt […]
Posted inBasic Materials + Commodities
Oriflame to increase its branches to 200 this year
Sweden’s Oriflame is looking to increase its outlets in Egypt to 200 from 114 by end of the year, Egypt’s General Manager Badr Abdel Aziz tells Al Mal. The company’s growing sales could also push it to consider a factory in Egypt, he adds.
Posted inBasic Materials + Commodities
Edita to begin selling goods from its newest production line next week
Edita will start selling wafer biscuits from its new Polaris Al Zamil production line next week, IR and Business Development Manager Menna Shams El Din tells Al Borsa. A new cake product will also hit the market in August. Edita is also exploring opportunities for expansion in the region, she added.
Posted inHealth + Education
Military Production Ministry in talks with Finnish company over ambulance assembly plant
The Military Production Ministry is in talks with an unnamed Finnish company over an ambulance assembly plant, Minister Mohamed El Assar tells Al Borsa. The company is currently conducting feasibility studies for the project, which should go up the value chain from assembly into manufacturing within a few years.
Posted inTourism
Korea’s IMG to establish medical tourism resort in Siwa
Korea’s IMG is planning to build a medical tourism resort in Siwa, Al Mal reports. No details were provided on the timeline or expected investment value. The company is also reassessing the cost of three sewage treatment plants in Marsa Matrouh, which it had announced last year, in light of the EGP float, according to […]
Posted inTourism
Antiquities Ministry officially launches CairoPass card for touristic sites
The Antiquities Ministry officially launched the USD 100 CairoPass that will admit tourists into various attractions and sites for a five-day period, Al Borsa reports. The ministry will offer students a discounted pass at USD 50.
Posted inBanking + Finance
Administrative Court refers Beltone’s lawsuit against EFSA, EGX to State Commissioners
The Administrative Court referred Beltone Financial’s lawsuit against the bourse and Egyptian Financial Supervisory Authority (EFSA) to the State Commissioners’ Authority for their legal opinion, Al Borsa reports. Beltone had filed the lawsuit last year against the heads of the EGX and EFSA for the repeated suspension and reversal of trades in its stocks.