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The Supply Ministry is setting strict new requirements for wheat supply in the season starting mid-April to avoid the mishaps from last year, Supply Minister Mohamed Ali El Sheikh told Al Masry Al Youm. The guidelines will be set in coordination with the ministries of agriculture, trade and industry, local development, and finance within the […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
PM brings sugar and rice customs down to 14% from 20%
PM Sherif Ismail reinstated the levy on imported sugar and rice on Wednesday, but reduced the custom tariff on the two commodities to 14% from 20%, Al Mal reports. Sugar and rice imports had been exempt from custom tariffs from May and until December 2016.
Posted inReal Estate + Housing
Golden Gate Real Estate partners with Kuwaiti investors to establish EGP 200 mn company
Egypt’s Golden Gate Tourism and Real Estate is partnering with Kuwaiti investors to establish a EGP 200 mn company for touristic and real estate development, as well as a media production company, Al Borsa reports. Egyptian investors will collectively hold a controlling stake of 51% of the new venture and the partners are already in […]
Posted inReal Estate + Housing
GAFI to tender 10 mn sqm in Red Sea governorate for tourism, industrial projects
The General Authority for Investment and Free Zones (GAFI) is expected to auction off 10 mn sqm in the Red Sea governorate for tourism and industrial projects aimed at pulling in EGP 49 bn in investments, the head of Red Sea investments Salah El Gamal told Al Borsa. According to El Gamal, potential investors will […]
Posted inTourism
Tourism Minister considers implementing regulations that constrain booking trips for Egyptians abroad
Tourism Minister Yehia Rashed is looking into implementing articles of the Tourism Act which would limit how many trips abroad travel agencies can book for Egyptians. The articles set this limit at 20% of a company’s business. While the move is meant to ensure that companies focus on drawing in tourists and USD, some industry […]
Posted inTourism
UK Security Minister says British flights to Sharm El Sheikh to return “soon”
The United Kingdom’s Minister of State for Security Robert Ben Wallace has taken a page out of Russia’s How to be Vague manual, saying that the UK is planning on reestablishing flights to Sharm El Sheikh “soon,” Al Shorouk reports. According to Wallace, there are currently 32 weekly flights from the UK to Cairo, Hurghada, […]
Posted inTelecoms + ICT
Lenovo looks to double its Egypt market share in 2017
Tech-maker Lenovo is looking to double its market share in Egypt to 14% during 2017. In a lengthy Q&A, Lenovo Egypt’s Smartphones Sales Manager Sherif Salem tells Daily News Egypt that the company was able to maintain its market share during 2016 despite a 30% drop in sales volumes.
Posted inBanking + Finance
NSB joins NADAQ Dubai’s Equity Futures Platform
Naeem Holdings’ brokerage arm, Naeem Shares and Bonds (NSB), officially joined the Nasdaq Dubai’s Equity Futures platform on Wednesday, Al Borsa reports. The move is part of NSB’s plan to expand its client and activities network by attracting more investments from the MENA, US, and Europe. Nasdaq had launched the Equity Futures platform last September.
Posted inEgypt Politics + Economics
Finance Ministry rejects proposals to expand pensions program
The Finance Ministry rejected a plan by the Social Solidarity Ministry to reduce the minimum age required to benefit from the Takaful and Karama pension programs to 60 years from 65, Social Solidarity Minister Ghada Waly told Ahram Gate. The Finance Ministry said the move would conflict with the Insurance and Pensions Law, which sets […]
Posted inNational Security
Israel raises height of barrier on border with Egypt
Israel said it increased the height of the electric fence along part of its border with Egypt to “shut down irregular migration routes.” The height of the fence was raised to eight meters from five meters tall. Israeli authorities say additional detection devices, had "significantly curbed the flow of illegal infiltration into Israel, with only […]