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GASC has purchased 235,000 tonnes of wheat from Russia and Romania, Al Borsa reports. The wheat is set to arrive between 20 February and 5 March, with Russia providing 175,000 tonnes and Romania providing the remaining 60,000 tonnes.
Author Archives: enterpriseam admin
Posted inManufacturing
Saudi Egyptian Ready Mix, Delta Cement apply for cement licenses left over from cement auction
Saudi Egyptian Ready Mix and Delta Cement have applied for cement licenses that went unclaimed during last year's cement production license auction. The Industrial Development Authority (IDA) had received approval from the Ismail cabinet to offer the remaining licenses until the end of 2017, an unidentified government source told Al Borsa. A third company is […]
Posted inReal Estate + Housing
SODIC denies delaying submitting plan to develop project with Heliopolis Housing to September, launch on track
SODIC says it only delayed submitting the general plan for developing 655 feddans with Heliopolis Housing by 10 weeks to March 2017, according to a bourse statement. There were rumors, denied by SODIC, that the company was looking to delay submitting the development plan until September. SODIC adds the extension will have no effect on […]
Posted inReal Estate + Housing
Egyptians are among UAE’s top Arab investors in real estate
Egyptians spent about USD 650 mn on property in Dubai last year, topping the list of regional expat investors in the emirate’s real estate sector, according to a report from the Dubai Land Department, picked up by AMAY.
Posted inTourism
Egypt lost out on the German market last year, but next summer could be promising
The German short- and medium-haul package holiday market was stable at just under 27.8 mn in 2015-16, but Turkey, Egypt, and Tunisia, along with Morocco and Cyprus lost out on the German market, tourism portal FVW reported. The number of German tourists visiting Egypt in 2016 dropped by 37% y-o-y to 669k. However, there could […]
Posted inTourism
Tourism contributed 11.3% of Egypt’s GDP and 7.3% of FX inflows in FY2015-16
Tourism revenues made up 11.3% of Egypt’s total GDP in FY2015-16 and 7.3% of total foreign currency inflows, Tourism Minister Yehia Rashed said, according to Al Borsa. He added, during his speech at the Ahram Economic Conference, that the government has plans to boost tourism, which include online marketing campaigns and building lasting relationships with […]
Posted inTourism
Russia says flights to resume in the “near future”
For the umpteenth time, Russian Transport Minister Maxim Sokolov has said that flights between Russia and Egypt will resume in the “near future,” adding that the Transport Ministry is preparing a report on the security of Egyptian airports following its latest inspection, according to TASS.
Posted inTelecoms + ICT
MNOs considering charging TE 1% administrative fee
Etisalat Misr, Orange Egypt, and Vodafone Egypt are looking into charging Telecom Egypt a 1% administrative fee for using their infrastructure to provide 4G service, Al Borsa reports.
Posted inAutomotive + Transportation
TEDA Holding to establish car logistics city in Ain El Sokhna
TEDA Holding signed an agreement with Sokhna Logistic Car City to establish a car industry and shipping hub in the special economic zone with an investment value of EGP 300 mn, Al Mal reported. The city will serve as a base for import and export, as well as re-exporting vehicles and storage, said TEDA CEO […]
Posted inLegislation + Policy
Social Solidarity Ministry completes drafting of Social Welfare bill
The Social Solidarity Ministry will be sending a draft of the proposed social welfare act to the Ismail cabinet within days for approval, Al Borsa reported. Minister Ghada Wali said draft would amend the social welfare and pension systems.