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The tripartite committee on the Grand Ethiopian Renaissance Dam began its four-day meetings in Cairo yesterday to discuss the draft report on the effects of the dam on Egypt, Al Masry Al Youm reports.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Export fees increased on aluminum scraps, import fees might be imposed on iron
Export fees were increased on aluminum scrap to EGP 6,000 from EGP 5,000 per tonne by the Trade and Industry Ministry, in a bid to ensure adequate supply in the local market, Al Borsa reports. Separately, the Supreme Council for Customs Tariffs has completed a study on imposing an import levy on imported iron, Customs […]
Posted inBasic Materials + Commodities
Agriculture Ministry signs EUR 1.6 mn agreements with FAO
The Agriculture Ministry signed two agreements with the UN Food and Agriculture Organization worth a combined total of EUR 1.6 mn for projects to improve agricultural and irrigation practices in rural areas, Al Borsa reports. The ministry is also organizing an international agricultural investment conference within three months, minister Abdel Moneim El Banna said on […]
Posted inReal Estate + Housing
NUCA finalizing contract for Oasis project in partnership with Palm Hills
The New Urban Communities Authority (NUCA) is finalizing the contracts for its joint project with Palm Hills Developments, October Oasis, according to Al Borsa. The project involves the development of 6k feddans in Sixth of October and was agreed to at the EEDC in 2015. NUCA completed reviewing the financial and technical studies, which Palm […]
Posted inReal Estate + Housing
Hassan Allam Construction targeting projects worth EGP 3.6 bn next fiscal year
Hassan Allam Construction is targeting projects worth EGP 3.6 bn during the next year, a EGP 200 mn projected increase over this year, Al Borsa reports.
Posted inTourism
NBE receives EGP 1.5 bn of loan requests for CBE’s hotel renovation initiative
The National Bank of Egypt has received loan requests worth a total of EGP 1.5 bn as part of the CBE’s initiative to provide affordable financing for the tourism industry, NBE Vice President Yehia Aboul Fotouh said, Al Borsa reports. The bank will review the loans and decide which ones will be approved within the […]
Posted inTourism
Red Sea Ports Authority to re-issue tenders for Dahab yacht marina
The Red Sea Ports Authority is planning to reissue the tenders for the USD 40 mn Dahab yacht marina project after President Abdel Fattah El Sisi’s visit to Riyadh, Al Borsa reports. The marina is aimed to increase tourism flow from Maqna in Saudi Arabia. The authority had first announced the project last year.
Posted inTelecoms + ICT
TE, three MNOs to receive 4G spectrum before end of June
The CIT Ministry will give Orange, Vodafone, Etisalat, and Telecom Egypt (TE) their allocated 4G frequencies before the end of June, a source tells Al Shorouk. As it reached a domestic roaming agreement with Orange Egypt, TE is now conducting tests to provide mobile services nationwide, according to Al Shorouk. TE CEO Ahmed El Beheiry […]
Posted inBanking + Finance
Banque Misr signs USD 100 mn financing agreement with China’s Industrial and Commercial Bank
Banque Misr signed a USD 100 mn financing agreement with China’s Industrial and Commercial Bank (ICBC) for a project led by Huawei, Amwal Al Ghad reports. Banque Misr had previously signed an agreement with ICBC and the China Export and Credit Insurance Corporation to provide up to USD 500 mn in funding for Egypt-based projects […]
Posted inOther Business News of Note
USD 20 bn total investments in 30 SCZone projects -Darwish
To date, Egypt has signed agreements for 30 projects worth a combined total of USD 20 bn to be established in the Suez Canal Economic Zone, chairman Ahmed Darwish tells Al Masry Al Youm.