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Calls for the sacking of Al Azhar’s Grand Imam Ahmed El Tayeb are unwarranted and based on “directions” from hidden figures, Mansour Aboul Azm writes for Al Ahram. This is not to say that El Tayeb is a saint against whom criticism cannot be leveled, but such criticism must be based on facts and point […]
Author Archives: enterpriseam admin
Posted inWorth watching
Egypt’s food exporters talk to Osama Kamal
The future of food exports from Egypt: Edita boss Hani Berzi (wearing his hat as chairman of the Food Export Council) and Chamber of Food Industries chief Ashraf El Gazayerli sat down with DMC’s Osama Kamal to discuss how Egypt’s food producers can compete on an international scale. The sector sees EGP 250 bn in […]
Posted inDiplomacy + Foreign Trade
Kuwait Investment Authority to invest EGP 1 bn in Egypt
The Kuwait Investment Authority’s private equity arm plans to invest EGP 1 bn in Egypt and reportedly has appetite for industries including pharma, food and food products, a source tells Al Mal. The investments are part of a bigger package from the Kuwaiti government. The Central Bank of Egypt is looking to make it easier […]
Posted inEnergy
UK’s Rockhopper Exploration starts drilling new exploration well
Rockhopper Exploration started drilling the Al Jahraa SE-2X exploration well on the Abu Sennan Concession, according to Proactive Investors. The company said the well, in which Rockhopper holds a 22% interest and which is being drilled in partnership with Kuwait Energy, could add 20 mn bbl of in-place oil to the project, if it is […]
Posted inEnergy
Access Power to build 50 MW power plant with USD 100 mn investments in feed-in tariff 2 program
UAE’s Access Power has reportedly reached financial close on a USD 100 mn, 50 MW power plant under phase two of the feed-in tariff phase two, sources tell Al Borsa.
Posted inBasic Materials + Commodities
Fish exports halted due to local shortage
Egypt has stopped exports of fish in the face of a domestic shortage, President Abdel Fattah El Sisi said, Reuters reports. El Sisi says fish exports increased following the EGP float. “We used to export 40,000 tonnes of fish a year. Within the first three months [of this year] we exported 120,000 tonnes,” sending prices […]
Posted inBasic Materials + Commodities
Supply commodities subsidies will reach EGP 70 bn this year -Moselhy
The nation’s subsidy bill will ring in at EGP 70 mn by the end of this fiscal year, up from an original projection of EGP 41 mn due to the import of strategic goods such as wheat, said Supply Minister Aly El Moselhy, Al Mal reports.
Posted inManufacturing
Toyota and Hiflex in talks to build a USD 500 mn power and desalination plant
A consortium including Hassan Allam Sons, Toyota and Hiflex are in talks to build a USD 500 mn power and desalination plant, Al Mal reports.
Posted inHealth + Education
Health Ministry to allow exports of IV solutions to resume “soon”
The Health Ministry will allow exports of IV solutions to resume “soon” as long as there is sufficient production to cover domestic consumption, an unnamed ministry source tells Al Shorouk. According to the source, domestic consumption hovers around 120 mn bottles per annum, of which United Pharma had produced 50 mn bottles prior to its […]
Posted inTourism
Swiss-Belhotel to manage new four-star hotel in the North Coast
Swiss-Belhotel International will manage Belresort Marseilia Beach 4 four-star hotel in Sidi Abdel Rahman Bay in the North Coast, Travel Trade Weekly reports. The 150-key hotel is slated for opening in 2020. “The new addition strengthens the company’s footprint in Egypt, one of its key growth markets, with over 2,296 rooms in development across four […]