The company will be established with the participation of “Global Blue Public Limited” and “Global Blue Holland Private Limited”.
The Cabinet said that this comes to meet the needs of these cars and vehicles, and the procedures required during the current stage, within the framework of the state's strategy towards localizing the automobile and electric vehicles industry and expanding their use.
The new company will also be the sole distributor of the homemade car that El Nasr Company will produce in Egypt during 2023.
The company comes under the name “Travel to Recruit Employment Abroad”, and obtained the approval of the Cabinet during its meeting on Wednesday, and the Training and Qualification Fund was allowed to participate in the establishment of the company.
The new company aims to participate in the implementation of presidential directives to achieve food security and bridge the nutritional gap in animal protein through the expansion of livestock breeding activity, to produce breeds and fattening, and to establish meat factories, dairy and juice factories, and fruit sorting and drying stations.
This came in the presence of Deputy Minister for Public Treasury Affairs, Ehab Abu Aish, and Deputy Minister for Financial Policy and Institutional Development Ahmed Kojak.
The businessman added that the association has prepared a list of those companies.
The club will contribute to the new company through the stadium and training grounds as a right of usufruct.
The onset of COVID-19 has brought about fears of bankruptcy for companies globally.
The company clarified in a filing to the Egyptian Stock Exchange (EGX) Monday, that the company's capital is AED 50,000, distributed over 50 shares, each share value of AED 1,000.
The final touches are being put in place for the Commodity Exchange Management Company for both the legal and the administrative aspects of the company.
Terras said, in a statement on Wednesday, that it was agreed to establish a new company subject to the law of the Arab Organization for Industrialization in partnership between the authority and the Holding Company for Chemical Industries to produce all t
It clarified that 25 percent of the amount will be paid in advance, at a value of $1.5 million.
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The Alexandrian-based company is tasked with constructing and running a multi-purpose stations to handle containers and general cargo in eight docks at Alexandria port, Transportation Minister Hesham Arafat said in a statement on Thursday.
A wrap-up of the most prominent business news of the day.
Snapchat-owner Snap Inc said Tim Stone, an Amazon. com veteran would replace Andrew Vollero as chief financial officer.