{"id":70465,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/02\/egypts-pyramids-tires-breaks-ground-on-facility-for-cargo-passenger-vehicle-tires-plus-bahrain-joins-gcc-payment-system-tunisian-e-commerce-startup-raises-funds\/"},"modified":"2023-05-02T00:00:00","modified_gmt":"2023-05-02T00:00:00","slug":"egypts-pyramids-tires-breaks-ground-on-facility-for-cargo-passenger-vehicle-tires-plus-bahrain-joins-gcc-payment-system-tunisian-e-commerce-startup-raises-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/02\/egypts-pyramids-tires-breaks-ground-on-facility-for-cargo-passenger-vehicle-tires-plus-bahrain-joins-gcc-payment-system-tunisian-e-commerce-startup-raises-funds\/","title":{"rendered":"Egypt\u2019s Pyramids Tires breaks ground on facility for cargo, passenger vehicle tires. PLUS: Bahrain joins GCC payment system + Tunisian e-commerce startup raises funds"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MANUFACTURING-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Egypt\u2019s Pyramids Tires break ground on tire manufacturing hub in Saudi: <\/span><span>Egyptian tire <\/span><span>manufacturing<\/span><span> company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pyramids-tires.com\/\" style=\"\">Pyramids Tires<\/a><\/span><span> has begun construction work on a cargo and passenger vehicle tire manufacturing hub in Saudi Arabia, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/42eFajQ\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\"> quotes the company\u2019s Chairman Ibrahim Gouda as saying. The hub \u2014 which is expected to begin operations in early 2025 \u2014 will produce 300k tires per month, with plans to eventually produce 5.5 mn tires annually by 2026, Gouda said. Markets earmarked for export include Egypt, Europe and Africa, he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">BANKING-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Bahrain\u2019s Shura Council approves Bahrain\u2019s access to GCC unified payments system: <\/span><span>Legislation approving Bahrain\u2019s access to a payment system linking GCC countries just got the greenlight from the country\u2019s Shura Council, after MPs gave it their thumbs up last month, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/world\/middle-east\/green-light-for-bahrain-to-join-gcc-unified-payments-system-w7sdrh3f\" style=\"\">Gulf Daily News<\/a><\/span><span> reports. The unified system establishes a regional infrastructure for real-time cross-border payments carried out in GCC countries\u2019 local currencies, as well as financial settlement processes between central banks within the region. The draft law is now awaiting ratification by King Hamad bin Isa Al Khalifa. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUP WATCH-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tunisian e-commerce startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/drest.tn\" style=\"\">Drest.tn<\/a><\/span><span style=\"font-weight:700\"> closed USD 336k in fundraising from <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/216capital.vc\/\" style=\"\">216 Capital<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/216capital.vc\/\" style=\"\">Ventures<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamda.com\/2023\/04\/tunisia-dresttn-raises-336000-216-capital-ventures\" style=\"\">Wamda<\/a><\/span><span style=\"font-weight:400;\"> reports. The round will allow the lifestyle e-commerce startup to grow and expand into the African market. \u201cWe plan to invest in technological tools, recruit experts in each field, and invest in marketing to become the top of mind brand for the general public,\u201d Omane and Malek Mzabi, the company\u2019s founders, said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Drest.tn: <\/span><span style=\"font-weight:400;\">The website, which launched in June 2020, offers lifestyle products, including ready-to-wear clothing, shoes, beauty products, as well as accessories for women, men, and children. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANUFACTURING- Egypt\u2019s Pyramids Tires break ground on tire manufacturing hub in Saudi: Egyptian tire manufacturing company Pyramids Tires has begun construction work on a cargo and passenger vehicle tire manufacturing hub in Saudi Arabia, Al Mal quotes the company\u2019s Chairman Ibrahim Gouda as saying. The hub \u2014 which is expected to begin operations in early [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":70466,"comment_status":"","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":[63],"tags":[62,212,595,162,17,357,192],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bahrain","tag-banking","tag-e-commerce","tag-enterprise-logistics","tag-manufacturing","tag-tunisia","wpautop","entry"],"acf":{"mongo_id":"8095c109-07d4-463b-a651-e955e2c5ba3c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/62.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Pyramids Tires breaks ground on facility for cargo, passenger vehicle tires. 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