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Egypt and a UAE company will sign an operations and management agreement in the field of tire manufacturing “within days,” Public Enterprise Minister Hisham Tawfik said, according to Al Mal. The minister did not disclose the name of the UAE company, but said the move comes amid efforts to attract foreign investment, and boost manufacturing […]
Author Archives: enterpriseam admin
Posted inTHE MACRO PICTURE
MENA growth to slow in the coming months, say Focus Economics
MENA growth to slow in the coming months, says Focus Economics: Economic growth in the Middle East and North Africa is set to slow in the coming months on the back of oil supply cuts, according to Focus Economics. The economic forecasting company says in its latest MENA outlook that OPEC’s voluntary production cuts result […]
Posted inEGYPT IN THE NEWS
HRW issues another attack on Egypt’s human rights record
It was another human rights-laden day in the foreign press. Nine international human rights organizations have exhorted states at the United Nations Human Rights Council in Geneva to minimize Egypt’s involvement in the council’s human rights and counter-terrorism expert’s report, HRW said. Citing “systematic abuses”, they have urged the states not to allow the expert’s […]
Posted inON THE FRONT PAGES
Egypt’s state-owned dailies focus on security and infrastructure developments
Egypt’s state-owned dailies are focused this morning on security and infrastructure developments. Al Ahram and Al Gomhuria are running with headlines on Defense Minister Mohamed Zaky’s assertion that the Armed Forces’ protection of the country is a “sacred responsibility,” while Al Akhbar joined Al Gomhuria in noting the inauguration of new platforms at the East […]
Posted inWorth reading
Money without trophies: Defining success in football
Money without trophies: Defining success in football. Manchester United’s post-2013 experience on the football pitch cannot by any stretch of the imagination be called a success. The departure of legendary manager Sir Alex Ferguson created a void at the club, one that none of his successors has been able to fill. For the most successful […]
Posted inWorth Listening
EM growth potential and the factors impacting it
Global equities are currently risk-positive as inflows into risk assets remain low, investors remain long on cash and central banks hold off rate-hikes, Dwyfor Evans, Macro Strategist for State Street, argues on Bloomberg Radio (listen, runtime: 06:57). Evans highlights EM equities and Chinese equities as being particularly attractive. “If you’re looking for a growth story, […]
Posted inDiplomacy + Foreign Trade
Transport Ministry, EBRD discuss cooperation projects
An EBRD delegation discussed financing metro upgrades with Deputy Transport Minister Amr Shaat yesterday, the ministry said in a statement. It is expected that the ministry and the EBRD will soon sign a financing agreement for upgrading Cairo Metro Line 1 and six new trains for Line 2. The officials also followed up on the […]
Posted inDiplomacy + Foreign Trade
Egypt, Tunisia, Algeria discuss Libya
Foreign Minister Sameh Shoukry hosted talks with his Algerian and Tunisian counterparts in Cairo to discuss proposed Libyan elections announced by the country’s rival leaders last week,reports the Associated Press. The three ministers have met several times before to discuss the situation in Libya and had put forward a political resolution in 2017.
Posted inBasic Materials + Commodities
As Egypt’s rice production falls, Nigeria becomes Africa’s largest rice producer
Egypt’s rice production has fallen almost 40% y-o-y in 2019, with Nigeria now overtaking us as Africa’s largest rice producer,Nigerian news outlet Naij.com reports. Egypt was previously producing 4.3 mn tonnes of rice a year but the government decided to cut production citing concerns about the amount of water used. The Agriculture Ministry was given […]
Posted inBasic Materials + Commodities
US Soybean Council announces trade visit to Egypt
The US Soybean Export Council (USSEC), a national group representing US soybean farmers, will visit Egypt to build trade relations and meet with investors, according to a statement issued by the council. Roughly 60% of US-grown soy is exported to international markets, with Egypt having increased its imports of US soy by 428% in the […]