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Author Archives: enterpriseam admin
Posted inTHE MACRO PICTURE
Emerging markets suffer worst August in decades
Emerging markets suffer worst August in decades: EM stocks suffered USD 873 bn in losses last month and currencies experienced their worst August since 1997, Bloomberg says. The iShares MSCI EM ETF saw a record increase in short interest as yearly gains on EM ETFs were almost entirely wiped out, and USD bond sales hit […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 1 September 2019
Rising sea levels due to climate change are posing an increasing threat to Alexandria and the Nile Delta, with at least 5.7 mn people likely to be affected by the end of the century, the Associated Press reports. Despite measures taken by the government to safeguard residential areas and the Corniche, severe floods in 2015 […]
Posted inDiplomacy + Foreign Trade
Egypt communicates latest GERD vision, postpones trilateral talks
Egypt communicates latest GERD vision, postpones trilateral talks to mid-month: Egypt has handed Ethiopia and Sudan its proposal for a method of filling the Grand Ethiopian Renaissance Dam’s (GERD) reservoir, which involves calling for the “early generation” of energy to mitigate any negative effect on Egypt’s share of Nile water, according to a cabinet statement. […]
Posted inDiplomacy + Foreign Trade
China to invest EGP 110 mn in SCZone training center
China to invest EGP 110 mn in SCZone training center: China will invest CNY 45 mn (c.EGP 110 mn) in building a professional and technical training center for workers in the Suez Canal Economic Zone (SCZone), according to a statement. SCZone President Yehia Zaki and Chinese Minister Counselor for Commercial Affairs Han Bing signed a […]
Posted inDiplomacy + Foreign Trade
EU tightens food safety regs for 11 Egyptian crops
EU tightens food safety regs for 11 Egyptian crops: Egyptian crops will now have to meet several newly outlined food safety regulations by the European Commission to be accepted into the bloc, sources from the Agriculture Ministry told the local press. Under the new regs, the ministry’s Central Department of Agricultural Quarantine will have to […]
Posted inDiplomacy + Foreign Trade
Egypt proposes long-term Israel ceasefire agreement to Hamas
Egypt proposes long-term Israel ceasefire agreement to Hamas: Egyptian intelligence officials have proposed economic and humanitarian aid to Hamas in return for a long-term ceasefire with Israel, a Hamas source told Lebanese newspaper Al Akhbar. Hamas has not responded to the proposal yet.
Posted inEnergy
Elsewedy, EETC sign EGP 327 mn agreement for Marsa Alam power lines
Elsewedy Electric for Trading & Distribution has signed a EGP 327 mn agreement with the Egyptian Electricity Transmission Company (EETC) to construct two power lines in Marsa Alam, the company said in a bourse filing (pdf). The company will install two 50-km transmission lines running from Quseer to Berenice through Marsa Alam over the next […]
Posted inEnergy
Scatec Solar brings fifth 65 MW solar plant in Egypt online
Scatec Solar has begun commercial operations at its fifth 65 MW solar plant in Egypt, raising the Norwegian company’s total output in the country to 325 MW, it said in a press statement. A final plant is expected to come online within months, bringing the company’s production at the Benban solar power park to 390 […]
Posted inEnergy
EGAS cancels LNG tender for three cargoes due to low bids
EGAS has canceled an LNG tender for three cargoes from the Idku gas liquefaction plant near Alexandria, market sources told Reuters. The tender, which closed on 28 August, was canceled due to low bids, the sources said.