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Turkish business delegation to visit seeking investment opportunities: A delegation of business leaders from the Federation of Turkish Chambers of Commerce will be visiting Cairo on 30 January to explore investment opportunities in industries including automotive parts and components, readymade garments, and food and beverages, AMAY reports.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Trade Ministry to sign MoUs with Azerbaijan, Bahrain, Portugal, and Morocco
The Trade and Industry Ministry is preparing to sign MoUs on economic cooperation with Azerbaijan, Bahrain, Portugal, and Morocco to bilateral trade, AMAY reported. The ministry is also preparing a study on 44 markets to better understand their dynamics and import needs.
Posted inEnergy
EGPC issues tenders for 1.012 mn tonnes of diesel to cover its Feb, March needs
The Egyptian General Petroleum Corporation (EGPC) has issued two tenders to purchase nearly 1.012 mn tonnes of diesel to cover its requirements for the months of February and March, Al Borsa reports. The window for bidding will close on 10 January.
Posted inBasic Materials + Commodities
Kuwait removes all restrictions on Egyptian strawberry imports
Kuwait has agreed to remove restrictions it imposed on imports of Egyptian strawberries, Trade and Industry Minister Tarek Kabil said, according to Al Masry Al Youm. Kuwait had imposed a requirement that imports of Egyptian strawberries be accompanied by a certificate certifying they’ve been tested and are fit for human consumption. Al Masry Al Youm […]
Posted inBasic Materials + Commodities
Military-run NSPO raises infant milk prices for consumers to EGP 43 from EGP 30
The military-controlled National Service for Projects Organization (NSPO) has raised the price of its infant milk brand Tahya Misr to EGP 43.50 per packet from EGP 30, to make up for its increased import costs after the EGP floatation, Al Borsa reported. The hike came into effect on 17 December, according to the newspaper.
Posted inHealth + Education
Vezeeta secures USD 5 mn series B funding
Automated clinic and physician booking platform Vezeeta raised a USD 5 mn series B funding let by UAE’s Beco Capital, Wamda reported. Egypt’s Vezeeta eases the accessibility of booking a doctor’s appointment, allowing the user to choose a doctor by specialty, geographic area, insurance purveyor and fees. “The investment, closed in September 2016, also included […]
Posted inTourism
Tourism is making a slow comeback, CAPMAS head suggests
There may be hope yet for Egypt’s ailing tourism sector after all with tourist arrival figures for October showing growth of 7% over the same month last year — the first signs of improvement and the eventual return of tourism, said CAPMAS Chief Abu Bakr El Guindy, AMAY reported.
Posted inTelecoms + ICT
Orange Egypt fined EGP 49.1 mn for losses from rerouting calls in North Sinai
An economic court issued a ruling that will see Orange Egypt pay Telecom Egypt EGP 49.1 mn for losses the latter incurred after Orange — which was Mobinil at the time — allegedly adapted a transmitter in North Sinai and rerouted international calls, Al Borsa reports. The case dates back to 2012.
Posted inAutomotive + Transportation
Transport Ministry negotiating loan with South Korea’s Hyundai Rotem for new metro cars
The Transport Ministry is in talks with South Korea’s Hyundai Rotem on financing for 64 new cars for Cairo Metro Line 3. Talks with South Korea regarding the funding of Cairo Metro Line 5 are also ongoing, and Transport Minister Galal Saeed met with South Korea’s ambassador in Cairo yesterday to discuss the matter.
Posted inEgypt Politics + Economics
Finance Ministry focused reform in 2016 on nine measures -El Garhy
The Finance Ministry said it focused on nine points in its reform measures in 2016, according to a statement by Minister Amr El Garhy. The measures focused on fiscal adjustment, legislative reform, improving the international standing, and enhancing social protection. The Ministry says it also focused on improving partnership with the private sector, improving its […]