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On a blessedly quiet morning, one of the few stories on Egypt getting traction in the foreign press is the opening of the Rafah border crossing for one day. Egyptian authorities allowed Palestinian coming from Egypt to enter the Gaza Strip, Palestinian news agency Wafa reports.
Author Archives: enterpriseam admin
Posted inON THE FRONT PAGES
El Sisi’s talks with Omar Al Bashir over GERD lead the conversation in Egypt’s state-owned dailies
President Abdel Fattah El Sisi’s sit-down with his Sudanese counterpart Omar Al Bashir is leading the conversation in Egypt’s three main state-owned dailies this morning (Al Ahram | Al Akhbar | Al Gomhuria). The trio of newspapers stress on the apparent harmony in Egypt and Sudan’s outlook on key issues, including the Grand Ethiopian Renaissance […]
Posted inWorth reading
The highly unusual co-CEO model: Not exactly business as usual
Why would any company choose to have co-CEOs? The co-CEO model is highly unusual and unpopular with shareholders and governance specialists — both because of the expenses incurred (hefty pay packages are doubled), and the potential it brings for clashes at the top. So why would anyone use it? A calculated risk: This brief FT […]
Posted inDiplomacy + Foreign Trade
El Sisi, Al Bashir meet in Cairo to talk GERD and cooperation
President Abdel Fattah El Sisi and Sudanese President Omar Al Bashir met in Cairo yesterday, where they discussed boosting bilateral relations, including electricity connection and railway projects, according to an Ittihadiya statement. The talks also addressed latest developments on the negotiations over the Grand Ethiopian Renaissance Dam, Ahram Gate reported. Bashir downplayed protests back home, […]
Posted inDiplomacy + Foreign Trade
Energy committee gives Egypt-Cyprus gas pipeline the all-clear
The House of Representatives’ Energy Committee has given its approval for the construction of the gas pipeline between Cyprus and Egypt, Al Masry Al Youm reports. The pipeline will allow natural gas from the Aphrodite gas field to be transported to Egypt’s liquefaction facilities at Idku and Damietta, and re-exported as liquefied natural gas.
Posted inInfrastructure
China’s EximBank to disburse first tranche of NAC light railway loan within a month
China’s Export-Import Bank (EximBank) will disburse within a month USD 105 mn tranche from the USD 1.2 bnit agreed on with Egypt for the construction of a light railway running between Egypt’s new administrative capital and 10th of Ramadan city, Al Mal reports. The funds will cover a portion of the cost of the project’s […]
Posted inBasic Materials + Commodities
GASC receives four offers in first int’l rice tender of 2019
State grain buyer GASC has received four offers for Chinese, Vietnamese and Indian rice in its first international rice tender in 2019, traders told Reuters. GASC is seeking rice for shipment between 20 March and 20 April and / or 1-30 April, the newswire noted.
Posted inBasic Materials + Commodities
House approves legislation relating to Black Sand exploration rights
The House of Representatives has approved legislation that will see the Electricity Ministry grant the Nuclear Materials Authority and the Egyptian Black Sand Company exploration, drilling and mining rights, Al Mal reports.
Posted inHOUSING AND REAL ESTATE
Egypt’s parliament gives preliminary nod to draft law to settle building code violations
The House of Representatives approved in principle yesterday a temporary bill that outlines mechanisms for settling building code violations, Al Shorouk reports. The legislation, if passed, would permit authorities to reach settlements on structures that meet structural integrity requirements and that are not built on state-owned or agricultural land, or land that is subject to […]
Posted inAutomotive + Transportation
Egyptian Airports Company looks to add passenger capacity to Borg El Arab
The Egyptian Airports Company is planning to increase Borg El Arab Airport’s annual capacity to 6.2 mn passengers by 2021-2022, company head Tarek Fawzy said, according to Al Mal. The airport currently receives 3 mn passengers a year.