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EGEMAC is expected to sign new agreements with the Electricity Ministry next week after winning a tender to build seven new power transmission stations for a total EGP 650 mn, Al Borsa reports. EGEMAC also beat out the likes of Elsewedy and Madkour EPC for a tender for three other 22 KV power transmission stations […]
Author Archives: enterpriseam admin
Posted inEnergy
BP begins producing 600 mcf/d of natural gas from North Alexandria concession
BP began producing 600 mcf/d of natural gas from the Taurus and Libra fields in its North Alexandria concession last week, up from 200 mcf/d at the end of last month, unnamed sources tell Al Borsa.
Posted inInfrastructure
GAFI chief talks Ain Sokhna port expansion with DP World CEO in Dubai
General Authority for Free Zones and Investment (GAFI) chief Mohamed Khodeir discussed plans to upgrade and expand the Ain Sokhna port with DP World CEO Sultan Ahmed Bin Sulayem in Dubai on Friday, a statement from the State Information Services said.
Posted inBasic Materials + Commodities
Al Ghurair’s disputes over the Minya sugar plant said to be resolved
Al Ghurair’s planned sugar factor in Minya could be inaugurated soon as the disputes surrounding it are about to be resolved, sources told Al Mal. Al Ghurair Group has been in negotiations since 2014 to establish the El Canal Sugar Factory with an annual capacity of 400k tonnes and provide raw materials by reclaiming 184k […]
Posted inBasic Materials + Commodities
Supply Ministry teams up with Suez Canal Authority and military to provide affordable food during Ramadan
The Supply Ministry is joining forces with the Suez Canal Authority and the military to provide food products at affordable prices ahead and during the month of Ramadan, Supply Minister Ali El Moselhy tells AMAY.
Posted inHealth + Education
Med sales up 25% y-o-y in 2016, prices increases to drive growth in 2017
Med sales in Egypt increased by 25% to EGP 50 bn in 2016, Federation of Egyptian Chambers of Commerce’s pharma division chief Ali Auf said on Saturday, Al Mal reports. Recent government-sanctioned price hikes to meds are being credited with the jump in sales and are expected to drive further growth in sales this year […]
Posted inTourism
Hilton looking to expand in Egypt, signs contracts to manage seven hotels
Hilton Hotels Group has recently signed management contracts for seven hotels under construction in Egypt, Christian H. Muhr, VP of operations for Hilton in Egypt and the Levant, told Daily News Egypt. Tourism inflows are set to improve throughout 2017, he says, expecting international travel bans to be removed completely by the end of the […]
Posted inTourism
Tourism contracts signed before the VAT will be exempt from the duty
Tourism contracts signed before the value-added tax came into effect will be exempt from the levy, the Finance Ministry decreed on Saturday, Al Shorouk reports. Companies have until early May to submit the necessary documents to the Tax Authority.
Posted inTourism
Sharm El Sheikh airport to receive Czech flights this month after travel ban is lifted
Sharm El Sheikh airport will begin receiving flights from the Czech Republic this month now that the country has lifted its travel ban, says South Sinai Governor Khaled Fouda. The first flights are expected to arrive on Tuesday 25 April.
Posted inTelecoms + ICT
TE raises minimum monthly salary to EGP 3,000
Telecom Egypt decided to raise the minimum salary it pays its employees to EGP 3,000 a month, up from EGP 2,250 a month, according to Ahram Gate. The salaries will be adjusted retroactively from January 2017.