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Madbouly, Shoukry fire back on GERD as Ethiopia presses ahead with construction: Prime Minister Moustafa Madbouly and Foreign Minister Sameh Shoukry yesterday accused Ethiopia of violating bilateral agreements for pushing ahead with the construction of the Grand Ethiopian Renaissance Dam (GERD). “Ethiopia’s radical positions represent a violation of the declaration of principles reached by the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Arab League to meet in Cairo on Saturday to discuss Turkey’s invasion of Syria
Arab League to meet in Cairo on Saturday as Turkey invades Syria: Arab foreign ministers will meet in Cairo on Saturday to discuss Turkey’s invasion of Syria following calls from Egypt for an emergency meeting, the Arab League said in a statement picked up by Reuters. A source told Gulf News that ministers will explore […]
Posted inSpeed Round
CIB appoints two Indian bankers as non-executive board members
MOVES- CIB has appointed seasoned Indian bankers Rajeev Kakar and Paresh Sukthankar as non-executive board members, the bank said in a statement. Dubai-based Kakar (LinkedIn) brings over 30 years of experience, and currently sits on the boards of both the Gulf International Bank and Greece’s Eurobank Ergasias. Sukthankar, meanwhile, is the lead partner at Mumbai-based […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Chinese tech companies are dominating in Africa
Chinese tech companies are dominating in Africa: Tecno, a phonemaker owned by Shenzhen-based Transsion, has become one of the most well regarded brands in Africa thanks to the Chinese company’s commitment to the market, David Pilling writes in the Financial Times. Unlike its Western competitors, Transsion has built cheaper phones specifically for lower-income African economies, […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 10 October 2019
Analysis of last month’s demonstrations continues to dominate coverage of Egypt in the foreign press. Egypt is at a “turning point” where the protests could be the start of a more sustained expression of discontent if changes are not enacted, writes Abukar Arman in Modern Democracy. James M Dorsey concurs in a piece for Eurasia […]
Posted inDiplomacy + Foreign Trade
55 Russian manufacturers show interest in the RIZ
Fifty-five Russian manufacturers want to get in on the RIZ: Fifty-five Russian manufacturers have expressed interest in setting up shop in the USD 7 bn Russian Industrial Zone (RIZ), Russian Industry and Trade Minister Denis Manturov told Egyptian counterpart Amr Nassar yesterday, according to a Trade Ministry statement (pdf). Moscow has committed to invest up […]
Posted inDiplomacy + Foreign Trade
El Sisi meets South Korean business delegation
El Sisi meets South Korean business delegation: President Abdel Fattah El Sisi yesterday met a delegation of South Korean multinationals in town for the Egypt-Korea Business Council, and urged them to step up their investments in Egypt, according to an Ittihadiya statement. We noted yesterday that 20 South Korean firms — including Samsung, LG, Hyundai […]
Posted inDiplomacy + Foreign Trade
Egypt, Cyprus sign agreement eliminating double taxation
Egypt and Cyprus signed an agreement to renew their bilateral double taxation treaty during the trilateral summit that was held in Cairo on Tuesday, according to the Cyprus Mail. The new agreement will help deepen economic ties between the two countries while expanding the network of double taxation conventions helps establish them as international business […]
Posted inEnergy
Egypt reduces natural gas production amid lower demand
The Oil Ministry has reduced Egypt’s natural gas production to 6 bcf/d, from 7 bcf/d after lower domestic and international demand resulted in surplus production, an unnamed ministry source told the local press. It is expected that the production will gradually rise back to 7.5 bcf/d in this fiscal year.