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EMs look to lure remittances into “diaspora bonds” to finance economic growth: As emerging markets struggle with historically low FDI, a growing number of countries are looking to convince their expatriate workers to channel their savings and remittances into “diaspora bonds” for productive investment, Steve Johnson writes for the Financial Times. Whereas sending money home […]
Author Archives: enterpriseam admin
Posted inImage of the Day
World Photography Day 2019
Cairo Gossip put out a photo gallery from a few of Egypt’s most prominent photographers in celebration of World Photography Day, which falls on August 19 every year. The photo pictured above was taken in the Western Desert by travel photographer Coucla Refaat.
Posted inEGYPT IN THE NEWS
Egypt’s use of blackface is coming under fire
The use of blackface has become common in comedy shows in Egypt and the region, but is coming under increasing criticism, Declan Walsh writes for the New York Times. Walsh notes that several actors, including Egypt’s Shaimaa Seif, have defended their appearance in blackface as “a harmless joke,” but many are calling out these comedy […]
Posted inWorth Listening
On the tricky art of adaptation
Australia’s first Egyptian-born Muslim female member of parliament Down Under: Egyptian-Australian Anne Aly’s childhood combined the carefree lifestyle of 1970s Australia with overt and institutionalized racism directed towards her as an immigrant. Later, she studied at AUC alongside enormously privileged classmates, provided for two children as a single parent, and navigated the post-September 11 landscape […]
Posted inDiplomacy + Foreign Trade
Shoukry, Pompeo discuss political solutions to Libyan conflict
Shoukry, Pompeo discuss political solutions to Libyan conflict: Foreign Minister Sameh Shoukry discussed the need to find a political solution to the Libyan conflict with US Secretary of State Mike Pompeo during a phone call yesterday, according to a ministry statement. The State Department said that Shoukry and Pompeo “shared concern over prolonged violence and […]
Posted inDiplomacy + Foreign Trade
Egypt to sign customs agreements with US, EU countries, and Belarus
Egypt is set to sign customs agreements with the US, Belarus, and a number of EU countries, according to a Finance Ministry statement (pdf). The agreements are meant to expedite customs clearance, cut down on customs costs, and improve regulation to increase cross-border trading. The Customs Authority has finalized the draft agreement it will sign […]
Posted inEnergy
Idku gas exports fall 25% in August on increased local demand
Natural gas exports from Shell’s Idku terminal have fallen 25% in August compared to July due to an increase in local consumption, an EGAS source told the local press. The facility has exported 450 mcf/d so far this month, down from 600 mcf/day in July. This was driven by an increase in domestic consumption, which […]
Posted inEnergy
Egyptera refuses to renew Italgen’s electricity license for not building wind farm
The Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera) has reportedly refused to renew Italian renewable energy company Italgen’s license to generate and sell electricity, unnamed sources told local press. Sources say that the company failed to build a wind energy facility it had planned to construct. Authorities are now studying the company’s appeal […]
Posted inEnergy
Acwa Power studying supply bids for 2.25 GW Luxor power plant
Acwa Power is studying bids submitted by Siemens, General Electric and Mitsubishi Electric to supply production units and equipment for its 2.25 GW power plant in Luxor, according to the local press. Sources say the company is aiming for an agreement before the financial closure of the project in 2Q2022. Acwa is developing the USD […]
Posted inInfrastructure
Supply minister breaks ground on EGP 2 bn Upper Egypt logistics zone
Supply Minister Ali El Moselhy broke ground yesterday on the EGP 2 bn logistics zone in Qena, according to Al Mal. The zone is set to be completed over three years and will generate 30k direct and indirect jobs for Qena residents.