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Egypt’s assumption of the African Union chairmanship is emblazoned across the front pages of the country’s three main state-owned dailies (Al Ahram | Al Akhbar | Al Gomhuria). Al Gomhuria also takes note of IMF Managing Director Christine Lagarde’s words of praise for Egypt’s economic reform program during a meeting with Finance Minister Mohamed Maait.
Author Archives: enterpriseam admin
Posted inWorth watching
Could you beat a robot at Jenga? Maybe not
Could you beat a robot at Jenga? A robot created by engineers at the Massachusetts Institute of Technology have used AI to create a robot that can probably beat a human at Jenga, according to CNN (watch, runtime: 0:53). The robot has been designed to both see and feel the individual blocks that make up […]
Posted inDiplomacy + Foreign Trade
Egypt receives grants worth EUR 18 mn from EU for development projects
The EU has provided Egypt with six grants worth a combined EUR 18 mn to finance development projects as part of the first phase of the EU’s cross border cooperation program, according to an Investment Ministry statement. The projects are intended to enable cooperation in a variety of fields, including textiles, tourism, and new and […]
Posted inDiplomacy + Foreign Trade
Egypt wins bid to host headquarters of African Space Agency
The African Union has voted to host the African Space Agency’s headquarters in Egypt, according to a Foreign Ministry statement.
Posted inEnergy
Shell Egypt eyes Red Sea exploration tender
Shell Egypt is eyeing the Red Sea exploration and production tenders Egypt is expected to launch during 1Q2019, Government and External Relations Manager Moataz Darwish tells Al Masry Al Youm. The tenders are expected to be issued within the coming weeks, following the completion of the seismic mapping of the area. The Oil Ministry was […]
Posted inEnergy
Romania eyes Egypt’s renewables sector, Molla hopes to bring in US investments
Romania is eyeing investing in solar and wind energy projects in Egypt, Romania’s Secretary of State for Global Affairs Monica Gheorghita told Electricity Minister Mohamed Shaker in a meeting on Thursday, according to Al Mal. In related news, Oil Minister Tarek El Molla discussed increasing US investments in the sector with US Embassy Chargé d’Affaires […]
Posted inBasic Materials + Commodities
GASC buys 300k tonnes of wheat
The General Authority for Supply Commodities (GASC) purchased 300,000 tonnes of wheat on Friday due for shipment between March 21-31, Reuters reports. The purchase includes 120,000 tonnes of US soft red wheat, 120,000 tonnes of French wheat and 60,000 tons of Ukrainian wheat. GASC’s second purchase of European wheat in a fortnight helped Euronext wheat […]
Posted inBasic Materials + Commodities
Egyptian agricultural exports face challenges
Water shortages and competitive pressures from other exporters are the main challenges facing Egyptian agricultural exports, Agricultural Export Council head Abdel Hamid El Demerdash said, according to Al Masry Al Youm. International bans due to quality issues and pesticide use have also caused considerable headwind, cutting agri exports in half, El Demerdash noted.
Posted inManufacturing
Egypt signs MoU with Korea’s JST to set up waste-to-energy facility
The National Organization for Military Production has signed an MoU with Korean waste-to-energy (WtE) company JST to set up a WtE facility in Egypt, according to a Military Production Ministry statement. The plan is to generate refuse-derived fuel (RFD) which will then be used to power the ministry’s cement factories.
Posted inReal Estate + Housing
Alassema Real Estate to invest EGP 350 mn in new capital medical project
Alassema Real Estate is planning to invest EGP 350 mn in its Medical Capital Center project in the new administrative capital, Chairman Mostafa Mansour said.