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Law firm Riad & Riad says FAS Energy, Infinite, and Elf are the three companies that made the cut for the first phase of feed-in tariff (FiT) program, which we reported on last week. The six developers who did not qualify for first phase projects have been moved to the second, which comes with solar […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt wheat shipments from Russia, Argentina
Two Russian wheat cargoes and one Argentinian cargo destined for Egypt were rejected at their ports of origin on quality concerns, traders told Reuters. The cargoes were purchased by state grain buyer General Authority for Supply Commodities (GASC) recently, but the nature of the quality concerns were not described. “The companies responsible for the cargoes […]
Posted inBasic Materials + Commodities
FLSmidth receives cement plant order from Elsewedy
Danish engineering company FLSmidth says it was awarded an order from El Sewedy Cement Company for engineering, procurement, and supply of equipment for the expansion of a cement production line in Suez. The order is for a complete range of equipment, FLSMidth says, including a mill and rotary kiln that would be the first of […]
Posted inBasic Materials + Commodities
Al Khaleej Sugar interested in establishing factory in Egypt
Al Khaleej Sugar expressed interest in establishing a factory in Egypt with an annual production capacity of 450K tonnes, according to an Investment and International Cooperation Ministry statement. The announcement follows a visit by Minister Sahar Nasr to the company’s factory in the UAE port of Jebel Ali. Nasr also met with executives from Abu […]
Posted inTourism
Luxor plans to reduce dependence on tourism
“Neglect” by the government in promoting tourism destinations in Luxor is forcing the governorate to diversify outside the tourism sector, write Keiichi Honma and Yomiuri Shimbun for the Japan News. Luxor Governor Mohammed Badr tells them that Luxor will move away from a reliance on tourism as it is too unreliable and prone to shocks, […]
Posted inTelecoms + ICT
Orange Egypt deploys Oscilloquartz technology ahead of 4G
Orange Egypt deployed Adva Oscilloquartz’s OSA 5421 technology — a precision timing protocol that synchronizes and distributes accurate timing required for LTE networks — necessary for the rollout of 4G services, Telecompaper reports.
Posted inTelecoms + ICT
Silicon Waha, Finland’s NxtVn sign MoU to establish joint stock company to invest EUR 40 mn over 4 years
Silicon Waha signed an MoU with Finnish technology company NxtVn to set up a company to develop data centers with investments of EUR 40 mn over four years, according to an ICT ministry statement. The agreement also included the establishment of a data center complex spanning 60k sqm in Borg El Arab. Meanwhile, officials from […]
Posted inLegislation + Policy
Amendments to Importers Registry Act pass
Amendments to the Importers Registry Act that would allow foreigners to hold a stake in an import company have officially been issued on Tuesday. According to our friends at Riad & Riad Law Firm, the amendments remove provisions prohibiting registered importers from entering into arrangements with non-Egyptians to import on their behalf. As we have […]
Posted inON YOUR WAY OUT
Egyptian woman test-wears Nike’s upcoming Pro-Hijab line
Egyptian athlete Manal Rostom is one of several Arab women Nike has enlisted to test-wear garments from its upcoming Pro-Hijab sportswear line, which is set to hit stores in Spring 2018, writes Al Arabiya’s Ismaeel Naar. The new line is in response to veiled women athletes’ complaints that finding veils that fulfil religious obligations, while […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.4053 | Sell 17.5109 EGP / USD at CIB: Buy 17.4 | Sell 17.5 EGP / USD at NBE: Buy 17.35 | Sell 17.45 EGX30 (Tuesday): 12,678 (+0.4%) Turnover: EGP 1.6 bn (272% above the 90-day average) EGX 30 year-to-date: +2.7% THE MARKET ON TUESDAY: The EGX30 ended […]