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Egypt and Lebanon are expected to sign several agreements on consumer protection and cooperation in the industrial sector during the 8th Egyptian-Lebanese Joint Higher Committee meeting, which kicks off today, Daily News Egypt reports. Investment and International Cooperation Minister Sahar Nasr and Lebanese Economy and Trade Minister Raed Khoury will co-chair the ministerial committee scheduled […]
Author Archives: enterpriseam admin
Posted inEnergy
Electricity Ministry stops direct orders on power plants
The Electricity Ministry decided to suspend issuing direct orders for new power plants and will only issue tenders for future projects, as there is currently a surplus in production and demand has not risen significantly, Al Borsa reports. According to sources from the Egyptian Electricity Holding Company, previous projects were contracted through direct orders due […]
Posted inBasic Materials + Commodities
GASC begins buying rice from traders at EGP 6,300 per tonne
The General Authority for Supply Commodities (GASC) has begun buying rice from traders at EGP 6,300 per tonne for a four-month period, the Supply Ministry said yesterday, Al Masry Al Youm reports. The ministry will put the subsidized rice on offer at EGP 6.5 per kg next month.
Posted inManufacturing
Schneider Electric to supply equipment to EGP 12 bn Ain Sokhna phosphate fertilisers complex
Schneider Electric will supply and install equipment in nine factories at Ain Sokhna’s EGP 12 bn phosphate fertilizers manufacturing complex, Al Borsa reports. Supplies are due by year-end.
Posted inManufacturing
Government announces it will launch tenders for eight industrial complexes in May
The government will be issuing tenders for eight new industrial complexes in Upper Egypt in May, according to Trade Minister Tarek Kabil, who spoke at the press conference held yesterday to officially launch the USD 500 mn World Bank-backed Upper Egypt development program with Investment and International Cooperation Minister Sahar Nasr, an emailed statement said. […]
Posted inManufacturing
Oil Ministry, Sidi Kreir to establish USD 1 bn polypropylene factory
The Oil Ministry and the Chemical Industries Holding Company are planning to cooperate with Sidi Kreir Petrochemicals to establish a polypropylene factory in Alexandria with investments of up to USD 1 bn, Al Borsa reports. The factory is targeting an annual production capacity of 450 tonnes to cover around 50% of the market’s needs of […]
Posted inHealth + Education
Zombie apocalypse?
The Health Ministry tasked a committee of experts with investigating a reportedly fatal virus of unknown nature and origin that has claimed at least one life since reports of it first surfaced last week, Egypt Independent says. The reports came from the publicly-run El Homeyat hospitals in Cairo’s Imbaba and Abbasiya, where several citizens are […]
Posted inReal Estate + Housing
Land plots to be repriced in EGP -TDA
The Tourism Development Authority (TDA) will reprice its land plots in EGP instead of USD to attract investors to land auctions it plans on holding soon, CEO Serag Eldin Saad told Al Mal. Saad says currency fluctuations have limited investors’ ability to calculate costs when land was priced in USD and added to their financial […]
Posted inTelecoms + ICT
Orange considering building a smartphone and tablet factory in Egypt
Orange is considering building a smartphone and tablet factory in Egypt, Orange Egypt’s Vice President for Human Resources Sherif Hanna tells Al Mal. According to Hanna, the French company is waiting on stability in the exchange rate and investment incentives to be codified into law before deciding on making a move.
Posted inTelecoms + ICT
Rumors of possible shakeup at Telecom Egypt
Rumors are flying around of a possible shakeup of the executive management at Telecom Egypt. There is a wait and see attitude among anxious workers who reportedly told Youm7 that they were waiting for word to come down from the ICT Ministry. We’ll be keeping an eye on this.