Back to the complete issue
Thursday, 24 December 2020

Also on our radar on 24 December 2020

The European Bank for Reconstruction and Development (EBRD) has extended a USD 12 mn loan to Al Dau al Haram for Hotels Operations to develop the Hyatt Regency hotel that will overlook the Giza Pyramids, it said in a statement (pdf) yesterday. The 249-room hotel will be fitted with energy-efficient tech and a tourism training program will be carried out for women and young people which will be funded by the Swiss State Secretariat for Economic Affairs.

Other things we’re keeping an eye on this morning:

  • Egypt has imposed an import ban on ceramics and porcelain for three months to protect local producers through the latest wave of covid-19, the Trade Ministry said yesterday.
  • Send in the lawyers: Four domestic firms are pitching their services as counsel for Egypt’s international bonds issuances next year, government sources said. They include Matouk Bassiouny & Hennawy, Baker McKenzie, Ragy Soliman & Partners (Adsero), and Sharkawy & Sarhan.
  • Eni has made a new oil discovery in the Western Desert that will add 10k barrels of oil a day to its production from the Meleiha concession.
  • Egypt aims to export 45 shipments of liquified natural gas through the Idku liquefaction plant in 2021 after having seen exports tank this year due to the collapse in gas prices.
  • Elsewedy Electric subsidy Rowad Modern Engineering will work with Power China to implement the first phase of the CapitalMed Medical City project in Badr City

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.