MANUFACTURING-

#1- Samsung wants to increase its exports from Egypt by 50%: Samsung wants to increase its annual exports of locally-made electronic devices — that currently amount to USD 700 mn — by 50% in the “coming period,” the chair of its Egypt arm said, according to a statement. The decision to ramp up exports from Egypt comes on the back of preferential trade arrangements between the country and the European Union, the senior Samsung official added.

** Samsung was awarded a golden license in August to help localize the country’s mobile industry. In case you missed it, we took a deep dive into how Egypt is becoming a regional hub for smartphone production in our manufacturing vertical, Inside Industry, last year. You can check parts one and two here.

#2- Delta Fertilizers teams up with ThyssenKrupp: German conglomerate ThyssenKrupp will help revamp state-owned Delta Fertilizers and restart operations at its ammonia and urea factories under an agreement inked between the two. The plan is to boost production at both factories to their full capacity of 1.4k tons a day.

Remember:While operations at Delta Fertilizers are currently on hold, a source told us inNovember that the government plans to invest USD 350 mn over three years to bring them online again.

DIPLOMACY-

Ethiopia wants to calm GERD tensions: Ethiopian Prime Minister Abiy Ahmed said that his country is willing to “share [its] resources, even in the future” in comments referring to the Grand Ethiopian Renaissance Dam during a speech in front of lawmakers on Tuesday, according to the Associated Press. “My hope is I expect them to accommodate our requests as well,” Abiy added.

Ethiopia is ready for another round of negotiations, the prime minister said, adding that his country is ready to listen to Egypt’s demands and address them.

ICYMI: Abiy’s remarks follow a fourth round of fruitless negotiations between Egypt, Sudan, and Ethiopia over operating and filling the dam, which wrapped up in December after Ethiopian negotiators persistently refused any of the proposed compromises.

Dassault Aviation delegation in town: A delegation from French defense firm DassaultAviation discussed military industrialization, technical support, and capacity building with President Abdel Fattah El Sisi yesterday, according to an Ittihadiya statement.

TECH-

Schneider Electric plans to build 1k smart homes in Egypt, according to a cabinet statement. The homes will be designed to have a lower carbon footprint and be powered by renewable energy. The components for the home automation systems will be manufactured in the Suez Canal Economic Zone.

FINANCE-

Contact is the UAE? Non-bank financial services provider Contact Financial Holding is considering launching its operations in the UAE, mainly to serve Egyptian expats there, the company said in a disclosure (pdf).

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