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Oranges were Egypt’s top agricultural exports from September 2016 to May 2017, accounting for USD 532 mn of the USD 1.756 bn earned from agricultural exports during the period, Ahram Gate reports. Potatoes came in second place, earning USD 228 mn, followed by onions, of whose exports reached USD 109 mn. Other popular exports included […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Government studying incentives for cement license holders
The government is looking into providing incentives to winners of cement licenses as part of the Investment Act’s executive regulations, Al Mal reports. Egyptian Cement, South Valley Cement, and El Sewedy Cement have been awarded cement production licenses in March 2016. The government believes the incentives could help the companies expand their investments. The nature […]
Posted inManufacturing
LG to operate new washers line within a month, targets USD 250 mn in exports
LG is begin operations at its new washers production line at its Sixth of October plant within a month, LG Egypt Managing Director Don Kwak tells Al Mal. The company targets manufacturing 400k washers every year. 75% of the plant’s production is set to be exported, Kwack says. Investments at the plant, which includes a […]
Posted inReal Estate + Housing
Mountain View targets EGP 1.5 bn in sales from first phase of iCity October
Mountain View is targeting EGP 1.5 bn in sales from the first phase of its EGP 50 bn project iCity in Sixth of October, which was launched last month, chairman Amr Soliman tells Al Borsa. Mountain View generated EGP 4 bn in sales from the first and second phase of iCity in New Cairo. Mountain […]
Posted inTourism
Mövenpick to manage another hotel in Ain Sokhna
Mövenpick Hotels & Resorts signed an agreement with Galalah Company for Touristic Investments to manage a 214-key hotel in Ain Sokhna, according to Incentive Travel & Corporate Meetings. Mövenpick Hotel El Ein Bay will be the company's second in Ain Sokhna and is set to open in 2020. The hotel manager’s first property in the […]
Posted inAutomotive + Transportation
Egypt receives largest multi-purpose supply vessel in the Middle East
Egypt has received the largest multi-purpose supply vessel in the Middle East which will be deployed to work on new gas discoveries in the Mediterranean, said Suez Canal Economic Zone Chairman Mohab Mamish at the flag-hoisting ceremony. The ship, which was built by China’s Guangzhou Wenchong Shipyard, comes as part of an effort to reduce […]
Posted inEgypt Politics + Economics
Suez Canal revenues up to USD 427.9 mn in May
Suez Canal revenues increased to USD 439.8 mn in May from USD 427.9 mn in April, Reuters reports, citing a cabinet statement. The Suez Canal generated USD 3.72 bn in the first three quarters of FY 2016-17.
Posted inSports
Expect to hear of Mohamed Salah’s transfer to Liverpool this week
It appears we can expect to hear an official announcement on Mohamed Salah’s GBP 35 mn transfer to Liverpool from Roma. After almost a month of speculation, reports over the past few weeks suggest that a transfer had been finalized with the Egyptian striker set to rake in GBP 90,000 a week. Salah apparently arrived […]
Posted inON YOUR WAY OUT
Road accidents in 2016 increased 1.1% -CAPMAS
The total number of road accidents in Egypt during 2016 rose 1.1% to 14,710, up from 14,548 in 2015, according to a report from the Central Agency for Public Mobilization and Statistics (CAPMAS) cited by Al Masry Al Youm. (We’re not entirely certain that CAPMAS didn’t forget a ‘000 at the end of those last […]
Posted inON YOUR WAY OUT
Young people are promoting nature preserves in Egypt
A group of young people are documenting Egypt’s nature preserves with pictures and documentaries to boost tourism and protect them from neglect, Menna A. Farouk writes for Al-Monitor. The initiative is called E’raf Mahmyetak (Know Your Nature Preserves) and was launched by the NGO Shabab Betheb Misr (Young People Loving Egypt) in cooperation with the […]