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Bilateral ties between Egypt and China have grown to become a comprehensive strategic partnership, driven in large part by China's Belt and Road initiative, Xinhua reports. Egypt is China’s third-largest trade partner in Africa in terms of volume. “The number of Chinese companies operating in Egypt increased from 30 in 2014 to more than 100 […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Rival Libyan leaders hold first direct talks in UAE
Rival Libyan leaders Fayez Al Sarraj and Khalifa Haftar held their first direct talks in Abu Dhabi as diplomatic efforts to end six years of violence in the North African nation intensify, The FT reports. The talks reached a “significant breakthrough,” the UAE said, without providing details. “Egypt and the UAE have been spearheading regional […]
Posted inDiplomacy + Foreign Trade
Belarus to establish industrial zones, factories in Egypt soon -FEI head
Belarus will be establishing new industrial zones and factories in Egypt “soon,” Federation of Egyptian Industries head Mohamed Elsewedy tells Ahram Gate. The story provides no additional detail.
Posted inInfrastructure
Hungarian company to build wastewater treatment in Alamein
The Housing and Military Production ministries have signed an agreement with an unnamed Hungarian company to build to the first wastewater treatment plant in New Alamein City, according to Al Masry Al Youm. In related news, Organica Technologiak and its agent in Egypt, ECC-Aquatech, are signing an agreement today to implement more sustainable and environmentally […]
Posted inBasic Materials + Commodities
Egypt’s cotton industry sees revival following EGP float
The cotton industry in Egypt is starting to see a revival following the float of the EGP, Menna A Farouk writes in Al-Monitor. The devaluation that ensued and the global crackdown on fake Egyptian cotton encouraged farmers to double the area planted with cotton and increase their exports. The US Department of Agriculture forecasts that […]
Posted inManufacturing
IDA to tender 26 mn sqm for industrial projects this year
The Industrial Development Authority (IDA) is planning to tender 26 mn sqm of land for industrial projects this year as part of a program to push 60 mn sqm into the market over the coming three years, IDA head Ahmed Abdel Razek said.
Posted inHealth + Education
Parliament strengthens penalties for organ trafficking
The legislative committee of the House of Representatives has recommended increasing penalties for those engaged in the organ trade, according to Al Masry Al Youm, citing remarks by committee chair Rep. Bahaa Abou Shokka.
Posted inReal Estate + Housing
Egypt leads Africa in new hotel development projects
Egypt is the leader in new hotel developments in Africa, Hospitality Net reports. There are currently 53 hotel projects underway in Egypt, according to an industry database. Morocco follows closely behind Egypt, with 50 total hotel projects currently under construction. Overall, “the new hotel construction pipeline for the African continent has begun to look healthier […]
Posted inReal Estate + Housing
Foreign buyers make use of EGP float and buying property
Egyptian developers are finding the EGP flotation useful as overseas buyers “are willing to be enticed” by the devaluation, according to Gulf News. If at all there has been any inactivity, it is largely confined to the smaller developers,” Zeyad Tarek Al Beshry, General Manager at Al-Futtaim Group Real Estate, says. He says property buyers […]
Posted inTelecoms + ICT
OTMT gives Oi until 1 June to put together restructuring plan
Orascom Telecom Media and Technology Holding (OTMT) and a group of bondholders have given Brazilian telecom company Oi “until June 1 to put together a restructuring plan to help it exit bankruptcy protection,” Reuters reports. “This is the fourth extension granted Oi by Orascom, which offered in December an exchange of debt for shares and […]