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Egypt has a five-month reserve of wheat, Supplies Minister Mohamed El Sheikh said, according to Reuters’ Arabic service. Stocks of sugar and rice are also in good health, he added, saying there is enough of them to last for four months. Cooking oil reserves could last for five months. The ministry has issued tenders for […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Koudijs Kapo Feed launch EGP 150 mn fish feed factory
Koudijs Kapo Feed have launched an EGP 150 mn fish feed factory with an annual capacity of 150k tonnes in Borg El Arab, board member Alaa Kamar told Al Borsa. The project was financed by retained earnings and an EGP 30 mn loan from CIB, he added. The factory’s production is sent to fish farms […]
Posted inHealth + Education
Pharma Syndicate, Health Ministry meet to discuss profit margins
A meeting between representatives from the Pharmacists’ Syndicate and Health Minister Ahmed Rady to discuss the pharmacists’ profit margins on medications failed to resolve the impasse between the two sides, Youm7 reports, citing a statement from the syndicate. The syndicate had demanded profit margins of no less than 23% for domestic meds and 15% for […]
Posted inHealth + Education
AstraZeneca increasing investments to EGP 400 mn, implying new investment of EGP 100 mn
AstraZeneca Egypt are increasing their investments to EGP 400 mn this year, country President Khaled Atef told Al Borsa. The company is launching a new med for hypertension and heart disease, he added. We had reported last year that AstraZeneca had invested EGP 300 mn in the domestic market.
Posted inReal Estate + Housing
Housing Ministry to issue terms and conditions for bidding on land in new capital next week
The Housing Ministry will be issuing the terms and conditions for bidding on land in the new administrative capital on 12 February, Housing Minister Mustafa Madbouly said, according to Al Borsa. The Administrative Capital for Urban Development Company will auction off land through a closed bidding system, with each piece ranging between 50 and 500 […]
Posted inTourism
Tourism promotion campaign for Egypt in Russia not ready -JWT
JWT are not ready to launch a promotional campaign for Egypt in Russia, Egypt CEO Hany Shoukry told Al Shorouk. The company does not have the necessary funds and has not received a clear payment schedule from the Tourism Development Authority (TDA), he added. The authority is behind on payments to several of JWT’s international […]
Posted inAutomotive + Transportation
Maersk Line uses rail for the first time to transport containers in Egypt
Shipping company has used rail for the first time ever to transport 120 containers from the Damietta Port to Sokhna Port, Al Borsa reported. The Chairman of the Damietta Port said the national Ports Authority has looking to reduce reliance on ground transport and resort more to rail. He said the plan is to get […]
Posted inAutomotive + Transportation
Auto sales decline 28.8% in 2016
Auto sales declined 28.8% year-on-year, with 198K vehicles sold in 2016, according to data from the Automotive Information Council, Al Borsa reported. Passenger car sales dropped 27%, while bus and truck sales fell 35% and 30% respectively for the year. Chevrolet clocked in the highest number of cars sold with a market share of 21.7%, […]
Posted inAutomotive + Transportation
CPA decision to force some auto companies to accommodate customer complaints
Some auto companies will be forced to extend the warranty periods for a number of customers to accommodate delays at their workshops and service centers, according to new decisions issued by the Consumer Protection Agency (CPA) issued in response to complaints, Al Mal reports. The decisions also instruct the companies to complete the work within […]
Posted inLegislation + Policy
Egyptian Council of State concludes review of Investment Act
The new Investment Act has been reviewed by the Egyptian Council of State (Maglis El Dowla) and is back with the cabinet to make the Maglis’ recommended amendments before going up for a vote at the House of Representatives “soon”, Al Borsa reports. While she didn’t get into any of the particulars of the changes, […]