Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
AstraZeneca is investing USD 5 mn into the expansion of its Six of October factory, country President Khaled Atef told Al Borsa. The expansion will increase the company’s annual output by 33%, he added. We had previously reported that AstraZeneca were investing EGP 400 mn in the domestic market this year.
Author Archives: enterpriseam admin
Posted inHealth + Education
Health Ministry allows pharma companies to sell old meds at new prices for 6 weeks
The Health Ministry has decided to allow pharma companies to sell old meds at the new prices agreed upon last month for a six-week period to ensure medications in short supply remain available, ministry spokesman Khaled Megahed tells Al Shorouk. The decision to hike on medication prices, issued last month, was originally meant to apply […]
Posted inAutomotive + Transportation
Ride sharing app Kalax looking to increase its fleet to 15K cars by year’s end
Ride-sharing app Kalax is looking to increase its fleet to reach 15K cars by the end of this year, according to a project manager at e Smart Press, which owns the app, Al Borsa reports. The platform, which was launched this month for Android, currently allows users to order a car, microbus, white taxi, tuk […]
Posted inOther Business News of Note
CPA wants to crack down on the minimum charge policy
Did you know minimum charges are illegal? Consumer Protection Agency (CPA) head Atef Yacoub wants to crack down on the minimum charge policy, and is encouraging citizens to report any café, restaurant, or other venue that implements the illegal policy, Al Shorouk reports. Well, we never thought we’d see the day when we would agree […]
Posted inLegislation + Policy
House to discuss Industrial Permits Act in general assembly next week
The House of Representatives has the Industrial Permits Act on its agenda for next week’s general assembly, now that its regulations have been drafted, Al Borsa reports. The legislation is expected to expedite the issuing of licenses for factories.
Posted inEgypt Politics + Economics
Egypt plans to issue USD 1 bn one-year USD treasury bill
The Finance Ministry plans to issue USD 1 bn in one-year USD-denominated treasury bills to domestic and international financial institutions, Reuters reported. The auction deadline is 13 February, the CBE said in a statement.
Posted inEgypt Politics + Economics
Parliament complaints of lack of cooperation from government agencies over private funds
Some government bodies have apparently been refusing to disclose the accounts on their private funds — which are not part of the budget and have gained the reputation for being slush funds — to the House of Representatives, parliamentary sources tell Al Borsa. The Finance Ministry was supposed to send the House audit reports for […]
Posted inEgypt Politics + Economics
Misr Spinning and Weaving employees end strike
Workers at the Misr Spinning and Weaving Company have suspended their strike and production has resumed in the factories, company chairman Hamza Abul Fath tells Ahram Online. According to Abul Fath, the workers were “misled by the media” into believing that the company is expected to increase their salaries due to the circulation of a […]
Posted inON YOUR WAY OUT
Egypt to receive second USD 500 mn tranche of AfDB loan expected in two weeks -AfDB
Egypt is expecting to receive the second USD 500 mn tranche of its USD 1.5 bn loan from the African Development Bank (AfDB) in two weeks at the most, according to Al Borsa. Negotiations for the third tranche should begin in the few months ahead, AfDB’s Egypt representative Laila Al Moqadem said, particularly now that […]
Posted inON YOUR WAY OUT
Authorities raid cafes in Greater Cairo after 24 year-old man was stabbed by waiters
Authorities shut down 131 cafes and restaurants in Greater Cairo for violating building and licensing codes, Al Shorouk reported. The raid came one day after 24 year-old Mohamed Bayoumi was stabbed to death by waiters at a Heliopolis cafe for an argument over the bill, according to Ahram Online. The owner and employees are currently […]