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The UAE has banned imports of “all varieties of pepper” from Egypt, according to The National. The ban, effective on 15 May, spans a number of fruit and vegetables from Egypt, Oman, Jordan, Lebanon, and Yemen over concerns of high levels of pesticides. UAE’s Climate Change and Environment Ministry said “countries affected by the ban […]
Author Archives: enterpriseam admin
Posted inEXPORTS
Egyptian Steel, Harsco Corporation sign USD 60 mn mill contract
Egyptian Steel signed a 10-year, USD 60 mn contract with Harsco Corporation for steel milling services, Reuters reports. Under the agreement, Harsco will provide mill services at Egyptian Steel’s Ain Sokhna plant beginning January 2018.
Posted inEXPORTS
Delta Sugar invests EGP 400 mn in two production lines
Delta Sugar will spend EGP 400 mn in developing two production lines at its plant in Kafr El Sheikh, sources tell Al Mal. The company targets increasing its production capacity to 19k tonnes of sugar per day from 14.5k tonnes currently.
Posted inHealth + Education
US-Egypt Science and Technology Joint Fund approves 15 joint projects
The US-Egypt Science and Technology Joint Fund approved 15 joint projects in the fields of agriculture, energy, health, and water and its board also agreed to continue to dedicate a portion of its funding toward innovation-related activities, according to a US Embassy statement.
Posted inHealth + Education
Pharma companies’ sales reach EGP 11.5 bn in 1Q2017
Pharma companies’ local sales increased 30% y-o-y in 1Q2017 to reach EGP 11.5 bn, Al Borsa reports, citing a report from American healthcare information company IMS Health. According to the report, Novartis’ achieved the highest sales of the quarter at EGP 980 mn, marking a 32% y-o-y increase.
Posted inReal Estate + Housing
EFSA allows real estate companies to swap shares in real estate funds
The Egyptian Financial Supervisory Authority issued amendments governing subscriptions to real estate funds that would allow real estate companies to trade in shares of their company or properties for shares in real estate funds in an initial public offering, EFSA chief Sherif Samy said. Companies which subscribe to a real estate fund through their own […]
Posted inReal Estate + Housing
Emaar unveils Address Marassi Beach, new hotels
Emaar Hospitality Group is building a new Address Marassi Beach Resort and Address Residences Marassi Beach Resort in Egypt, The National reports. The group, which is Emaar Properties’ hospitality and leisure arm, unveiled six new hotels as part of its regional and international expansion at Arabian Travel Market in Dubai.
Posted inAutomotive + Transportation
NAT decreased Metro Line 2 air conditioned trains to 6 from 13
The National Authority for Tunnels (NAT) has reduced the number of air-conditioned trains it is planning to buy for Cairo Metro’s Line 2 to six from 13. Technical assessments have shown that the line did not require the 13 trains as projected initially, Al Borsa reports. NAT’s spokesperson says the trains will cost EGP 3 […]
Posted inAutomotive + Transportation
Transportation Ministry targeting completing railway renovations within 30 months
The Transportation Ministry is looking to complete renovating 1,200 km of railway in the next 30 months, Transportation Minister Hisham Arafat said, Al Mal reports. On a related note, the ministry is also currently in talks with the European Bank for Reconstruction and Development for a EUR 300 mn loan to purchase 100 new railway […]
Posted inInfrastructure
Engineering Authority to build EGP 1.4 bn multi-purpose station at Damietta Port
The Armed Forces Engineering Authority will build a EGP 1.4 bn multi-purpose station in Damietta Port after signing a cooperation agreement with the port authority, Al Borsa reports. The facility is expected to be completed in 18 months.