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The Electricity Minister completed the USD 23 mn 220 KV Imbaba transformer substation, Egyptian Electricity Transmission Company chairman Gamal Abdel Rehim says, Al Borsa reports. A consortium including China’s AVIC was awarded the contract for the Imbaba station in February 2016 on EPC-plus-finance basis.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt back to the International Olive Council
Madrid-based International Olive Council ratified Egypt’s request to return to it that was filed two weeks ago, Agriculture Minister Abdel Moneim El Banna says, Al Borsa reports. Egypt’s membership was revoked last month after it did not sign an agreement on changes to standards of olive cultivation, production, or trading, according to BBC Arabic. The […]
Posted inTelecoms + ICT
ICT Ministry, Honeywell to sign cooperation protocol to produce smart meters in Egypt
ICT Minister Yasser El Kady and Honeywell Vice President and General Manager Gary Bennett agreed on Saturday to sign a cooperation agreement within the next few weeks to produce smart meters and establish a software development center in Egypt, Al Borsa reports.
Posted inOther Business News of Note
Bayer Foods to invest EGP 400 mn to expand production operations
Bayer Foods is planning to invest EGP 400 mn to expand its production operations in Egypt, establishing pasta and biscuit production facilities, Al Borsa reports. The company expects its annual sales this year to reach EGP 600 mn, and is targeting boosting that figure to EGP 1.3 bn upon completing its expansion plans in 2020.
Posted inOther Business News of Note
Microsoft to partner with Flat6Labs, Greek Campus, TIEC to support budding entrepreneurs
Microsoft is teaming up with incubator Flat6Labs, Ahmed El Alfi’s Greek Campus, and the Technology Innovation and Entrepreneurship Center (TIEC) to support budding entrepreneurs by offering training sessions on Microsoft programs and providing entrepreneurs with workspaces, Al Borsa reports.
Posted inEgypt Politics + Economics
No 30% state salary increases -IDSC
The cabinet’s Information and Decision Support Center denied rumors that the government is raising salaries in FY2017-18’s budget by 30% y-o-y, according to Al Masry Al Youm. The Finance Ministry insists that the amount that will be earmarked for salaries has not yet been set but that the Civil Service Act allows for periodical raises […]
Posted inEgypt Politics + Economics
State Commissioners body advises authorities to backtrack on Al Nadeem Center shut down
The State Commissioner’s body at the Council of State issued a report recommending that the government backtrack on its decision to shut down the Nadeem Center for the Rehabilitation of Victims of Violence since the organization doesn’t seem to be in clear violation of any building or medical codes, Al Shorouk says.
Posted inEgypt Politics + Economics
Hosni, Gamal, and Alaa Mubarak file lawsuit to lift hold on EGP 61 mn
Former president Hosni Mubarak and his sons Alaa and Gamal filed a lawsuit against the Justice Minister and Prosecutor General to lift an administrative hold, issued on 8 January 2016, on EGP 61 mn of the Mubaraks’ shares held at Misr for Central Clearing, Depository & Registry, Al Shorouk reports. The court hearing is scheduled […]
Posted inNational Security
Egypt provides military training to Libya’s national army -National Security Council Secretary-General
Egypt has been training elements of Libya’s national army in an effort to protect our western neighbor’s security and stability, which will reflect on Egypt’s national security, National Security Council Secretary-General Khaled El Bakly told El Watan. El Bakly also denied that Egypt launched airstrikes against Daesh in Libya, saying “the Libyan Air Forces are […]
Posted inSports
Madagascar Football Association head elected CAF president
Madagascar Football Association chief Ahmad Ahmad was elected President of the Confederation of African Football on Thursday, BBC reports. Ahmad replaces Issa Hayatou who is under investigation by prosecutors in Egypt over allegations of bid-rigging related to broadcast rights. Hayatou had been running CAF since 1989.