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The Trade and Industry Ministry is looking to prioritize bolstering date exports in the coming season, Minister Tarek Kabil said, according to Ahram Gate. Kabil talked strategy at a meeting with representatives from UNIDO, FAO, Italian and German agencies, the Association of Egypt’s dates and Agriculture Ministry official. Egyptian date exports increased by 8% y-o-y […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
El Shams considering EGP 1 bn partnership with NUCA
El Shams Housing And Urbanization Company is considering a EGP 1 bn partnership with the New Urban Communities Authority (NUCA), the company said in an EGX filing. No further details were provided on the potential project.
Posted inTelecoms + ICT
TE studies amending infrastructure usage fees after scathing report from CAA
Telecom Egypt (TE) is looking into amending a pricing scheme for MNOs and internet service providers using its infrastructure, an unnamed company official tells Youm7. The move comes after the Central Accounting Agency (CAA) issued a report criticizing TE for unilaterally setting prices and making additional profits off of infrastructure usage fees without prior agreement […]
Posted inTelecoms + ICT
MNOs say have not yet received 4G frequencies
CIT Minister Yasser El Kadi might have jumped the gun when he said that mobile network operators would be receiving their 4G frequencies on Monday, according to Al Mal. MNOs have not received any official notice about frequency being handed over before Eid Al Fitr, an executive from the one of three operators tells the […]
Posted inAutomotive + Transportation
Geyushi Motors becomes official distributor for FAW Group
Geyushi Motors announced yesterday that is the exclusive distributor of China’s FAW Group in Egypt, Al Borsa reports. Under the agreement, Geyushi will also establish a new factory in Egypt to assemble FAW’s cars locally and export them to Africa and the Middle East, according to Geyushi’s chairman.
Posted inBanking + Finance
Banks attract USD 30 bn since EGP float -source
The Egyptian banking system attracted USD 30 bn since the start of the EGP float as of the end of last week, a central bank source told Al Borsa. The source said the growth rate of transfers to the banking system, whether from remittances or locally with people exchanging USD, have not changed.
Posted inOther Business News of Note
Hassan Allam to pay USD 1.1 mn settlement in dispute with US companies
Construction firm Hassan Allam has agreed to pay a USD 1.1 mn settlement to the US government after being accused of allegedly violating the US False Claims and Foreign Assistance acts, Federal Times reports. The settlement comes after the US government pursued legal action against Washington Group International, Contrack International and Hassan Allam related to […]
Posted inEgypt Politics + Economics
Supply Ministry extends deadline for Kramers to update their subsidy card data
The Supply Ministry has extended the deadline for subsidy card holders to update their data to 15 July, from the previous 30 June deadline, ministry spokesman Mamdouh Ramadan said in a phone-in to DMC News (runtime 3:17). Approximately 11.5 mn of the 19 mn beneficiaries have already updated their data, Ramadan said. The government had […]
Posted inEgypt Politics + Economics
Waste-to-energy feed-in tariff set at EGP 1.45, pending Cabinet approval
The waste-to-energy feed-in tariff has been set at EGP 1.45 per kWh, and is pending Cabinet approval, Assistant Environment Minister Fatma Mohsen tells Al Shorouk. Prime Minister Sherif Ismail and the Finance, Environment, Planning, Electricity, and Local Development Ministers are set to meet this week to discuss the tariff, according to Mohsen.
Posted inEgypt Politics + Economics
Police officer who killed activist Shaimaa El Sabbagh sentenced to 10 years
A criminal court sentenced a police officer who killed activist Shaimaa El Sabbagh to 10 years in prison, Reuters reports. El Sabbagh was gunned down during a peaceful protest in 2015, on the fourth anniversary of the 2011 revolution. The sentence may be appealed to the Court of Cassation, Egypt’s highest appeals court. El Sabbagh’s […]