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Egyptian Defense Minister Sedki Sobhi met with US National Guard Bureau Chief, Air Force Gen. Joseph L. Lengyelin Cairoon Wednesday, Ahram Online reports. Lengyel also met with Egyptian Armed Forces Chief of Staff Mahmoud Hegazy for talks on cooperation in military training.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egyptian and Omani investors meet in Cairo for investment talks
Representatives from 20 Omani companies sat down with officials from 48 Egyptian companies in one-on-one meetings in Cairo on Wednesdayto explore potential partnership and investment opportunities in various industries, including food production and building materials, Al Borsa reports.
Posted inEnergy
Rosneft, Eni sign cooperation agreement, look in oil product supplies to Egypt
Rosneft and Eni have signed an agreement to “broaden cooperation” and possibly include the joint sale of oil product supplies to Egypt, Reuters reports. “Rosneft said the agreement calls for expanded cooperation in hydrocarbon production, refining, marketing and trading, including in the Egyptian Zohr offshore project, where Eni controls 50 percent, Rosneft owns up to […]
Posted inEnergy
Development at BP’s Atoll gas field 53% completed
BP has completed 53% of the development work being carried out at the North Damietta offshore concession’s USD 3.8 bn Atoll field, including drilling three deepwater wells 950 meters below the water’s surface, the Oil Ministry said in a statement yesterday. The field, which holds about 1.5 tcf of gas reserves, is expected to begin […]
Posted inBasic Materials + Commodities
US chance to sell wheat to Egypt is high
The General Authority for Supply Commodities (GASC) purchased 295k tonnes of wheat from Ukraine, Russia, Romania, and the United States, to be delivered between 15 and 24 June, Al Mal reports. The US, which sold Egypt wheat earlier in May for the first time in four months, offered two of the lowest prices in the […]
Posted inBasic Materials + Commodities
Eastern Company, PMI agree on new prices for cigarette production
The Eastern Tobacco Company will be producing up to 15 bn cigarettes for Philip Morris International at USD 5.8 per 1,000 units and between 15-22 bn cigarettes at USD 6.2 per 1,000 cigarettes, the company said in a regulatory filing (pdf) on Wednesday. Philip Morris will pay Eastern Company in EGP using a fixed exchange […]
Posted inManufacturing
Alpla launches new production plant in 10th of Ramadan
Austrian packaging manufacturer Alpla launched a new EUR 25 mn plant in 10th of Ramadan City yesterday through its joint venture Alpla Taba, according to Plasteurope.com. Alpla had bought a majority share in Taba Group acquired in 2015 a plant in El Obour City from Greece’s Argo.
Posted inManufacturing
LG Egypt is set to start production on its new washing machine line at its 10th of Ramadan City plant before year’s end
LG Egypt is set to start production on its new washing machine line at its 10th of Ramadan City plant before year’s end, an unnamed company official tells Al Borsa. 60% of the units will be earmarked for export, he adds. We had noted earlier that the line is set to produce up to 9,000 […]
Posted inHealth + Education
MPs raise a stink about budget allocation for healthcare in FY2017-18
Members of the House of Representatives’ Health Committee raised a stink about the budget allocation for healthcare projects in FY2017-18 during Wednesday’s discussion session, Al Shorouk reported. MPs said that the EGP 54 bn allocation is not enough to cover the country’s needs, especially since EGP 13 bn of those are going into sanitation and […]
Posted inReal Estate + Housing
State to reclaim 421 feddans in 10 governorates by end of May
The government plans to reclaim 421 feddans of state-owned land in 10 governorates by the end of May, the Interior Ministry said on Wednesday, according to Ahram Online.