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As promised, we give you the Rumble in the Parliament Jungle: Okay, so it’s no Mayweather vs. Pacquiao (which was equally disappointing), but it will have to do (watch, runtime: 1:52). As we noted yesterday, the scuffle (more like after school at the mall) was caused over a clause in the National Elections Act which […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
El Sisi meets with Bahrain’s King Hamad ahead of Arab summit
President Abdel Fattah held a closed-door meeting with Bahrain’s King Hamad bin Isa Al Khalifa in Cairo yesterday ahead of the Arab League Summit kicking off in Jordan on Wednesday, according to a presidency statement. The meeting centered largely on security issues. Investment and International Cooperation Minister Sahar Nasr signed four agreements worth EUR 259 […]
Posted inEnergy
PetroZenima to link wells to production platforms
PetroZenima is currently connecting drilled wells in its Gulf of Suez concession to production platforms, a source told Egypt Oil & Gas. There are eight wells drilled in the concession, two of which are already connected and producing a total of 1,300 bpd. Two more wells are being connected to production platforms with the remaining […]
Posted inEnergy
State will not reprice contracts under FiT program
The government still has no intention of repricing contracts signed under the feed-in tariff program, as many renewable energy companies have been urging, New and Renewable Energy Authority (NREA) chief Mousa Omran, tells Al Mal in an interview. NREA is planning projects worth USD 440 mn in FY2017-18 compared to USD 220 mn this year, […]
Posted inHealth + Education
Batterjee to establish EGP 10 bn medical city in Alexandria
The Batterjee Holding Company will establish a new EGP 10 bn medical city complex in Alexandria that includes eight hospitals, Vice President Makarem Batterjee says, Ahram Gate reports. The announcement was made as International Cooperation Minister Sahar Nasr visited the Saudi German Hospital in Cairo, which is owned by the company.
Posted inTourism
ARCO signs contract with AccorHotels to manage Fairmont hotel in Sun City
ARCO will have AccorHotels to manage Fairmont Pyramids Hotel and Residence in Sun City in Giza near the pyramids (not the mall in Heliopolis), Al Borsa reports. The opening is scheduled for 2022. The new Sun City project is set to include three hotels, a medical center, a school, two universities, an open museum, housing […]
Posted inTelecoms + ICT
ICT Minister meets Google Middle East MD
ICT Minister Yasser El Kady met with Google’s MENA Managing Director Lino Cattaruzzi yesterday to discuss the company’s potential investment opportunities in Egypt, Youm7 reports.
Posted inAutomotive + Transportation
Electricity Ministry refuses to drop Cairo Metro debts
Electricity Ministry officials are refusing to drop debts owed by Cairo Metro, officials tell Al Mal. Despite the debts reaching EGP 230 mn by 2016’s end, the Ministry reiterated that it would not cut Cairo Metro’s power supplies off.
Posted inAutomotive + Transportation
FAMCO to introduce IVECO heavy trucks to Egyptian market in early April
Al-Futtaim Group’s automotive subsidiary FAMCO will be introducing IVECO-branded heavy trucks to the Egyptian market in early April and should be announcing new investment and expansion plans in two weeks’ time, unnamed company officials tell Al Mal.
Posted inBanking + Finance
HDBK settles pre-float debts worth EGP 700 mn
The Housing and Development Bank has settled pre-float letters of credit worth EGP 700 mn under the terms of the settlement agreement that the Central Bank had reached with the Union of Egyptian Investors Association in February, bank President Fathy El Sebai said on Monday, according to Al Mal.