Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
SDX Energy successfully flow-tested a well for dry natural gas successfully at its South Disouq concession, with the flow rate exceeding initial expectations, Energy Voice reports. The company hopes it can start commercial production as soon as possible.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Rice prices falling, no need for imports
Egypt is reaching self-sustainability in rice production, the head of the rice section at the chamber of commerce said, according to Ahram Gate. Egypt no longer requires additional imports, he says, noting that domestic prices have already started falling to EGP 7.5 per kg from EGP 8.5 per kg previously. Global prices are also falling, […]
Posted inBasic Materials + Commodities
Supply Ministry to issue EGP 14 Ramadan raise on ration card allowance today
The Supply Ministry will issue the EGP 14 raise on ration cards today, boosting welfare recipients’ allowance to EGP 35 from EGP 21, advisor to the Supply Minister Mamdouh Ramadan tells Al Shorouk. The top-up, which the Ismail cabinet approved earlier this month, will only be in effect for the month of Ramadan.
Posted inBasic Materials + Commodities
GASC launches global wheat tender
The General Authority for Supply Commodities (GASC) issued a global tender yesterday for an unspecified amount of wheat, to be delivered between 1 and 10 July, Al Masry Al Youm reports.
Posted inAutomotive + Transportation
Mansour Group to export 700 buses, 200 cars to Ghana
Ghana’s Private Road Transportation Union is on track to sign a contract with Mansour Group to buy 700 buses and 200 cars, Egypt’s Ambassador to Ghana Mohamed Haidar said, according to Al Borsa. The contract includes the export of 200 buses, 500 mini-buses, and 200 Chevrolet automobiles split between 150 Cobalts and 50 Sparks.
Posted inBanking + Finance
CIB raises interest rates on short-term deposit certificates
CIB has raised interest rates on short-term certificates of deposit by 100 bps to 3.5% for one week CDs and 11.5% for one-year CDs, according to Al Borsa. Interest rates on savings accounts and personal loans remain unchanged. Several banks, including BLOM Bank and the National Bank of Egypt, had announced changes to their interest […]
Posted inBanking + Finance
EGX approves GTH capital decrease
The EGX approved Global Telecom Holding’s to decrease its capital to EGP 2.74 bn from EGP 3.04 bn on Tuesday by cancelling 524.5 mn shares, according to Reuters.
Posted inLegislation + Policy
Al Azhar completes drafting anti-hate crime and violence legislation
A committee from Al Azhar has completed its first draft of an anti-hate crime and violence legislation and is discussing it before presenting the bill to the Supreme Council of Al Azhar Scholars and the House of Representatives, Al Borsa reports. The bill takes aim at religious discourse that promotes violence and hatred. As we […]
Posted inLegislation + Policy
House Legislative Committee votes against bill that would lower judges' retirement age
The House of Representatives’ Legislative Committees unanimously rejected on Tuesday a draft law proposal that seeks to lower judges’ retirement age to 64 from 70 years old,Al Ahram reports. The bill was proposed by representative Mohamed Atta Selim and 69 other MPs.
Posted inEgypt Politics + Economics
Opposition groups sign petition supporting Ali
A number of opposition groups locally have voiced their support for Khaled Ali in the presidential elections slated for next year, Anadolu Agency reports. They made their views known in a joint statement issued late on Monday that also criticized what they called attempts to remove Ali “from the upcoming presidential race by ‘fabricating’ criminal […]