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Officials from the Egyptian Electricity Holding Company are meeting with a delegation from EDF Energy to discuss cooperating on managing the Siemens power plants, unnamed sources told Al Borsa. The Electricity Ministry had earlier issued a tender to receive the completed power plants from Siemens and assist the ministry in managing the power plants. Three […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Russian wheat seized in Alexandria could be released after fumigation -Rosselkhoznadzor
18k tonnes of Russian wheat, seized by Egyptian authorities at the Dekheila port in Alexandria in November, could be released by local officials after fumigation, Reuters reported, citing Russia's agriculture safety watchdog Rosselkhoznadzor. The seized wheat was deemed unsuitable for human consumption by prosecutors despite having passed quarantine checks successfully, after a large number of […]
Posted inManufacturing
Samsung Egypt begins manufacturing ACs at Raya’s factory
Samsung Egypt has been manufacturing air conditioners through factories belonging to Raya, Al Borsa reports. Contracting out production appears to be critical to Samsung’s manufacturing strategy to tackle rising FX rates, said Samsung Egypt’s vice president Sherif Barakat. He added that the company plans to raise its market share of phones to 50% and of […]
Posted inHealth + Education
Marcyrl to produce three new types of Hep-C meds locally in 2017
Marcyrl Pharma Industries intends to start locally producing three new types of meds that treat Hepatitis-C in 2017, Al Borsa says. Company President Magdy Mounir said that Hep-C meds will not be increasing in price, despite the surge in the FX rate, especially as their domestic production picks up.
Posted inHealth + Education
Government to tender development of takamol hospitals in Feb, despite House rejecting the proposal
The government is reportedly preparing to issue tenders for the development of the first batch of full-service (dubbed takamol) hospitals in underserved areas, a high-ranking official tells Al Mal. The plan to develop the hospitals under public-private partnership contracts seems to be moving along despite having been rejected by the House of Representatives, as we […]
Posted inReal Estate + Housing
PHD expects revenues to rise in 2017, sees sector stabilizing within three quarters
Palm Hills Developments (PHD) expects a “jump in sales” in 2017, Chairman Yasseen Mansour told Bloomberg. PHD is targeting EGP 8.5 bn in contracted sales during the year and aims to deliver 2,000 homes. “Many of the small developers that entered the industry since the uprising six years ago will be forced out, and that […]
Posted inTourism
European travel agencies to offer trips from Belgium, Holland to Hurghada
European travel agencies have announced they will be organizing trips to Hurghada from Belgium and Holland during the spring and summer seasons, in response to the Tourism Ministry’s recently announced incentives to draw in tourism, Al Borsa reports. Dutch travel agency Corendon will arrange twice-weekly trips from Brussels to Egypt during the first two weeks […]
Posted inTourism
Tourism Minister Yehia Rashed in Spain to revitalize tourism
Tourism Minister Yehia Rashed met with tour operators in Spain to discuss restoring the flow of tourism to Egypt and to discuss the Spaniards’ suggestions for Egypt, Al Shorouk reports. Rashed headed the Egyptian delegation at the Fitur International Tourism Conference along with representatives from nine Egyptian travel agencies, EgyptAir, and the Egyptian Tourism Federation, […]
Posted inAutomotive + Transportation
No recall on Jeep Grand Cherokee models in Egypt
The recall ordered on Jeep Grand Cherokee models in Saudi Arabia does not apply in Egypt, Fiat Chrysler Automobiles Egypt (FCA) told Al Mal. The parent company did not notify Egypt of a recall, FCA said, but is allowing customers to check their cars’ VIN Number against a database of recalled models on its website.
Posted inAutomotive + Transportation
GB Auto is not investing in South Sudan
GB Auto said it is not injecting any new investments in South Sudan. The company denied reports in Al Mal that it is expanding in the country in a statement sent to the EGX.