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Let behavioral economics help you kick that monkey in your pocket: Digital detoxes are all the rage. But like their controversial non-tech counterparts, they’ve gained a reputation for being unattainable and perhaps even undesirable for anyone with a busy life. We can’t afford to spend all day meditating in the desert and drinking kale juice, […]
Author Archives: enterpriseam admin
Posted inWorth watching
What are leveraged loans and why do they have financial policymakers worried?
What are leveraged loans and why do they have financial policy makers worried? Among the trends that followed the 2008 financial crisis was the high level of interest from investors in buying leveraged loans — loans to poorly-rated, high-risk companies. This was in part because of the reduction in bond yields, but also because the […]
Posted inDiplomacy + Foreign Trade
Is Egypt slipping back to the GCC’s radar for sub-standard produce?
Is Egypt slipping back onto the GCC’s radar for sub-standard produce? Kuwait’s Public Authority for Food and Nutrition will extend its heightened alert status on agricultural imports from Egypt for another three months, after it found high levels of pesticides from Egyptian imports, the authority said in a tweet on Sunday. This would mean that […]
Posted inDiplomacy + Foreign Trade
Israel’s unveiling of a new international airport in Eilat on Monday may give a boost to Egypt’s tourist sector
Israel’s unveiling of a new international airport in Eilat on Monday may give a boost to Egypt’s tourist sector, Reuters reports. The newly-opened USD 500 mn Ramon Airport is designed to attract winter tourism from Europe to the Red Sea, notably to Taba, Eilat, and the Jordanian town of Aqaba as well as a “wartime […]
Posted inDiplomacy + Foreign Trade
Egypt, China sign USD 72 mn Misr Sat 2 satellite assembly grant
Egypt, China sign USD 72 mn grant for Misr Sat 2 satellite assembly: Egypt signed yesterday a USD 72 mn grant agreement with China to finance the purchase of equipment and training of staff needed for Egypt’s assembly of data satellite Misr Sat 2, according to a Cabinet statement.
Posted inEnergy
Egypt to spend USD 9 bn for refinery upgrades, says El Molla
Egypt will spend USD 9 bn over the next four years to upgrade six oil refineries, Oil Minister Tarek El Molla has said, according to Reuters. The project aims to increase the country’s production to 41 mn tonnes per year, up from 25 mn tonnes currently. We had noted last year that Assiut Oil Refining […]
Posted inEnergy
Egypt’s planned USD 8.5 bn Alamein refining complex to produce 3.4 mn tonnes
The planned USD 8.5 bn petroleum refining complex in New Alamein is expected to produce some 3.4 mn tonnes of refined crude per year, according to an Oil Ministry statement. State-owned Egyptian Petrochemical Holding Company completed its studies on the complex, which is set to come online in 2024, last December. Egypt will also stop […]
Posted inInfrastructure
Damietta Port considering incentives for cargo ship
The Damietta Port Authority is considering giving incentives to cargo ships to increase the port’s international competitiveness,local press reported. No details were provided on what the incentives entail.
Posted inBasic Materials + Commodities
GASC to change payment terms to at-sight LCs for Egypt’s wheat tenders
The General Authority for Supply Commodities (GASC) will begin using at-sight letters of credit (LCs) for upcoming wheat tenders, assuring payments to suppliers as soon as they submit the necessary documents, according to Reuters. The state grain buyer had been relying on 180-day “usance letters of credit” for all previous purchases. Usance, or deferred, LCs […]
Posted inAutomotive + Transportation
Egypt’s NCCA launches trial operations for EGP 25 mn of air-conditioned buses
The New Cairo City Authority has launched trial operations of a new transportation network made up of 20 air-conditioned public buses at a combined cost of EGP 25 mn, chairman of the authority’s board of trustees Mohamed Saad El Din said, according to Al Bawaba. The buses will operate on five lines connecting all of […]