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An Egyptian delegation is visiting Saudi Arabia next week to discuss removing the blanket ban on importing Egyptian peppers, Al Mal reports. The delegation will include representatives from the agricultural quarantine authority, exports councils, and trade representatives and will outline new measures taken to ensure the quality of exports. Al Mal says Saudi Arabia, which […]
Author Archives: enterpriseam admin
Posted inManufacturing
LG Egypt looking to increase exports to USD 85 mn in 1H2017
LG Egypt is targeting increasing its television exports to USD 85 mn in 1H2017 from USD 62 mn in 1H2016, Al Borsa reports. The company’s plant in Tenth of Ramadan underwent a capacity increase and LG Egypt is looking to open new export markets. A source said the company is not facing any challenges in […]
Posted inManufacturing
IDA mulling new framework for allocating land to industrial utilities developers
The Industrial Development Authority is mulling a new framework and pricing structure to allocate land to industrial utilities developers, Al Borsa reports.
Posted inHealth + Education
Court places 6 October University in receivership
A court issued a decision yesterday placing 6th of October University in receivership and granting Misr Insurance the right to manage the university, Ahram Gate reports. Misr Insurance had filed a lawsuit against the university after the latter refused to give the insurance company its shares of the revenues in the university.
Posted inTourism
EgyptAir losses post EGP float exceeded EGP 15 bn
EgyptAir’s losses after the EGP float grew to EGP 15 bn, Civil Aviation Minister Sherif Fathy said, according to Al Masry Al Youm. He said that the company did not receive any financial support from the government, unlike other companies in similar financial straits. The company’s losses before the EGP floatation in November amounted to […]
Posted inTourism
Egypt to inaugurate antiquities lab by Giza pyramids
Egypt will inaugurate largest on-site antiquities laboratory to restore the second ceremonial boat of Pharaoh Cheops, according to the Associated Press. “The project, funded by the Japan International Cooperation Agency and the Higashi Nippon International University, is set to complete the initial phase of repairs of the 4,500-year-old vessel by 2020.” The head of the […]
Posted inTourism
Gov’t plans to turn Siwa into a global medical, eco-tourism hub
The government plans to turn Siwa into a global center for medical and ecotourism, announced Matruh Governor Alaa Abu Zeid at the Siwa Oasis Medical Tourism Conference yesterday. The conference will look at projects which could be developed in the fields of medical and eco-tourism, Al Masry Al Youm reports.
Posted inAutomotive + Transportation
EIB to facilitate funding for the overhaul of Cairo metro’s first and second lines
The European Investment Bank (EIB) is interested in facilitating funding for the Transport Ministry’s planned overhaul of the Cairo Metro Line 1 and 2, a delegation of EIB representatives told Transport Minister Hisham Arafat during a meeting in Cairo on Wednesday, Al Borsa reports. The EIB has provided around EUR 600 mn in funding for […]
Posted inOther Business News of Note
CDM Smith, COWI A/S, ERM win government tender to manage recycling projects worth EUR 62 mn
CDM Smith, COWI A/S, and Environmental Resource Management won tenders to manage recycling projects in four governorates worth EUR 62 mn for the National Solid Waste Management Program, unnamed government sources tell Al Borsa. The government will pay EUR 17 mn of the total cost in EGP equivalent, while the remaining EUR 45 mn will […]
Posted inOther Business News of Note
Orascom Development Holding issues 3.5 mn EDRs
Orascom Development Holding AG has issued 3.5 mn Egyptian Depositary Receipts (EDRs), bringing the total number of company EDRs being traded to 186.3 mn, according to an official bourse announcement picked up by Youm7.