{"id":583941,"date":"2023-03-22T00:00:00","date_gmt":"2023-03-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/22\/one-step-closer-to-daylight-saving-time-plus-new-hotels-shalateen-gold-production-dina-farms-investment-plans\/"},"modified":"2023-03-22T00:00:00","modified_gmt":"2023-03-22T00:00:00","slug":"one-step-closer-to-daylight-saving-time-plus-new-hotels-shalateen-gold-production-dina-farms-investment-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/22\/one-step-closer-to-daylight-saving-time-plus-new-hotels-shalateen-gold-production-dina-farms-investment-plans\/","title":{"rendered":"One step closer to daylight saving time. PLUS: New hotels, Shalateen gold production, Dina Farms investment plans"},"content":{"rendered":"

LEGISLATION-<\/span><\/p>\n

<\/span>House committee approves daylight saving comeback: <\/span>The House Local <\/span>Administration Committee yesterday approved a draft bill on the return of daylight saving. The bill received the <\/span>greenlight from the cabinet<\/a><\/span> earlier this month. If passed, it would see Cairo Local Time (CLT) pushed forward by one hour from the last Friday of April through the last Thursday of October.<\/span><\/p>\n

The rationale: <\/span>\u201cReducing power consumption through restoring daylight saving time will help reduce demand on foreign exchange and also boost the country\u2019s natural gas exports,\u201d the <\/span>government <\/span>said in an explanatory note.<\/span><\/p>\n

The bill won\u2019t be put up for a General Assembly vote until April at the earliest:<\/span> The House yesterday adjourned sessions until 2 April.<\/span><\/p>\n

Does daylight saving time really save energy?<\/span> It\u2019s long been controversial, and one of the <\/span>most well-respected papers on the subject suggests it actually increased energy use slightly in one US state<\/a><\/span>, where households used more energy to cool their houses in summer.<\/span><\/p>\n

HOSPITALITY- <\/span><\/p>\n

IHG Hotels + Arabella to open three new hotels in Egypt: <\/span>IHG Hotels & Resorts<\/a><\/span> and <\/span>Arabella for Tourist & Urban Development<\/a><\/span> will establish three new hotels in Cairo and the North Coast after signing contracts with the government this week, the <\/span>Tourism Ministry said<\/a><\/span> Monday. Together the new hotels will have more than 500 rooms, and are expected to open between this year and 2026.<\/span><\/p>\n

Remember:<\/span>The government wants to see the private sector build <\/span>at least 290k new hotel<\/a><\/span>rooms<\/a><\/span> as part of its aim of attracting as many as <\/span>30 mn tourists a year<\/a><\/span> by 2028.<\/span><\/p>\n

INVESTMENT-<\/span><\/p>\n

#1- Dina Farms could invest some EGP 380 mn this year: <\/span>Qalaa Holdings\u2019 dairy <\/span>company Dina Farms plans to invest around EGP 380 mn this year to increase its production capacity, Qalaa Chairman Ahmed Heikal reportedly told <\/span>Al Borsa<\/a><\/span>. The company is also looking to add to its land portfolio and is holding discussions with the government and a private-sector firm to purchase two plots.<\/span><\/p>\n

#2- Fresh + Cotherm to inaugurate EUR 8 mn factory:<\/span> Egyptian home appliances maker <\/span>Fresh<\/a><\/span> and French firm <\/span>Cotherm<\/a><\/span> will inaugurate their EUR 8 mn heater component factory in Tenth of Ramadan today, <\/span>Al Borsa<\/a><\/span> reported. The factory will have three production lines to manufacture thermostats for water heaters.<\/span><\/p>\n

MINING-<\/span><\/p>\n

Gold production begins at large Iqat deposit:<\/span> The state-owned Shalateen Mining <\/span>Company has begun operations to extract gold<\/span> from the Iqat gold mine in the Eastern Desert, the Oil Ministry <\/span>said<\/a><\/span> yesterday. The company has begun to drill, transport rocks to the extraction site, and grind them in preparation for the extraction of gold and the production of ingots \u2014 a process that was expected to <\/span>commence in 4Q 2022<\/a><\/span>. The deposit is estimated to hold around 1.3 mn ounces of gold.<\/span><\/p>\n

WASTE MANAGEMENT-<\/span><\/p>\n

Greek firm partners with Suez Canal Authority on new waste management <\/span>company:<\/span>Antipollution<\/a><\/span>, a member of the Greek environmental firm <\/span>V Group<\/a><\/span>, has signed a shareholders agreement with two subsidiaries of the Suez Canal Authority to set up a local waste management company, according to a cabinet <\/span>statement<\/a><\/span>. Antipollution Egypt will provide solid and liquid waste management services to ships using the Suez Canal. Zaki Hashem & Partners served as the legal advisors to V Group and Antipollution, the law firm said in <\/span>a statement (pdf)<\/a><\/span>.<\/span><\/p>\n

STARTUPS-<\/span><\/p>\n

Egyptian chatbot building platform <\/span>WideBot<\/a><\/span> launched an AI-powered product to <\/span>help SMEs<\/span> with tasks including marketing, to sales, to customer service, and to payments, according to a company <\/span>press release (pdf)<\/a><\/span>. The platform\u2019s new service \u2014 dubbed \u201cHeloul\u201d (Solutions) \u2014 is integrated with several social media platforms such as Facebook, Whatsapp, Instagram and Twitter, and its AI chatbot is capable of answering customers\u2019 questions in several Arabic dialects, the statement reads. The AI startup is looking to expand its client portfolio to reach 100k clients in Egypt and Saudi Arabia by the end of 2024.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bill aimed at reducing energy consumption and raising nat gas exports, gov\u2019t says<\/p>\n","protected":false},"author":1,"featured_media":583942,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[7094,111,72,955,274,187,131,373,613,7103,133,238,452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ai","tag-also-on-our-radar","tag-enterpriseam","tag-hospitality","tag-house-of-representatives","tag-legislation-watch","tag-manufacturing","tag-mining","tag-qalaa-holdings","tag-suez-canal","tag-suez-canal-authority","tag-tourism","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"770cc89d-1886-402e-81e0-f51ff3769ded","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/clock-time-1600px.jpg","photo_position":"below","homepage_title":"Plans to bring back daylight saving in Egypt get House committee approval","full_issue_title":"Plans to bring back daylight saving in Egypt get House committee approval. 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PLUS: News from Cheiron, Bahrain investment, Mytilineos, Madinet Masr \/ Madinet Nasr, and Rosatom","author":"enterpriseam admin","date":"30 March 2023","format":false,"excerpt":"The House Local Administration Committee approved the draft bill yesterday","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584687,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/04\/egyptian-lawmakers-approve-bringing-back-daylight-saving-time\/","url_meta":{"origin":583941,"position":1},"title":"Egyptian lawmakers approve bringing back daylight saving time","author":"enterpriseam admin","date":"4 April 2023","format":false,"excerpt":"Government says the move will save at least USD 25 mn","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/133.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578571,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/house-postpones-debate-on-draft-labor-act-while-govt-makes-tweaks\/","url_meta":{"origin":583941,"position":2},"title":"House postpones debate on draft Labor Act while gov\u2019t makes tweaks","author":"enterpriseam admin","date":"4 January 2023","format":false,"excerpt":"LEGISLATION- The gov\u2019t is taking another look at the draft labor bill: The Madbouly government requested the House Manpower Committee delay until further notice its scheduled debate of the controversial new draft labor law this week, while it redrafts some articles. 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