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The Fed hasn’t cut rates yet, but emerging markets are already feeling the benefits of its “dovish” stance: Emerging-market bonds and currencies posted their best week since 2017 last week after the US Federal Reserve and the European Central Bank gave their strongest hints yet that easing could soon be back on the table, Bloomberg […]
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
Egypt in the news on 25 June 2019
Aside from mentions in football stories, there’s little about Egypt in the international press this morning: Bloomberg Opinion takes a swipe at Egypt after the death of Mohamed Morsi. The LA Times suggests that Morsi’s death serves as a reminder of how far the Ikhwan have faded as a political force. Production of Egyptian TV […]
Posted inON THE FRONT PAGES
Port Said to get Healthcare in July
Universal Healthcare to debut in Port Said next month: Both Al Ahram and Al Gomhuria were still down this morning, but a meeting between President Abdel Fattah El Sisi and his government to talk about the implementation of the first phase of the Universal Healthcare Act in Port Said in July topped the front page […]
Posted inWorth watching
Global financial systems are not simply Facebook’s playground
Will financial regulators rein in Zuckerberg’s attempts to upend the global financial system? Mark Zuckerberg may have hoped that Facebook’s new cryptocurrency Libra would be subject to “only the lightest touch” of regulation, but he appears to have underestimated how seriously regulators take the prospect of a new global cryptocurrency, the Financial Times says (watch, […]
Posted inDiplomacy + Foreign Trade
19 Russian companies interested in taking part in Egypt’s Russian Industrial Zone
Nineteen Russian companies are interested in taking part in Egypt’s USD 7 bn Russian Industrial Zone, Russian Foreign Minister Sergey Lavrov said yesterday in a joint press conference with his Egyptian counterpart Sameh Shoukry in Moscow, Youm7 reported. Russian Industry and Trade Minister Denis Manturov said earlier this year that 20 Russian companies are keen […]
Posted inEnergy
Ades International signs two-year contract in Egypt
Oil and gas company Ades International has secured a new two-year contract with an unnamed Egyptian energy company for its Admarine IV jackup rig in Egypt, Morning Star reports. The contract is an initial one-year term, with a one-year extension option.
Posted inEnergy
Jordan reduces imports of Egyptian gas by a factor of four- EGAS source
Jordan has reduced its imports of Egyptian natural gas to 75 mcf/d from 300 mcf/d due to falling demand, a source from state-owned EGAS tells the local press. The kingdom’s demand is expected to range between 75-150 mcf/d, the source said. Egypt began exporting natural gas to Jordan last September under a supply resumption agreement […]
Posted inInfrastructure
Egypt’s SMEs federation building 90-feddan small manufacturing project complex
The group of SMEs is building a 90-feddan complex for small and medium ready-made garment, food, medical supplies and engineering goods factories in the 10th of Ramadan industrial city, Yasser El Sakka said. The project can potentially cost some EGP 1 bn, which will be financed solely through the federation’s members. It will house 500 […]
Posted inBasic Materials + Commodities
Egypt’s gold exports surge 132% in 2Q FY2018-2019
Egypt’s gold exports surged 132% to USD 328 mn in the second quarter of FY2018-2019, up from USD 141.3 mn the previous quarter, CBE data showed.
Posted inManufacturing
Egypt’s Agawany for Industrial Machines planning metal moulding machine factory
Agawany Group’s El Agawany for Industrial Machines is planning to set up a factory to manufacture metal moulding machinery at Port Said’s Sharq at Tafriah at a cost of EGP 500 mn, said Vice Chairman Hamada Agawany. The company is expecting to break ground on the project next year and begin operations by 2022 in […]