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Supply Minister Ali El Moselhy will present his ministry’s food security strategy to the Madbouly Cabinet “soon,” the minister said at a press conference on Sunday, according to a local source. The new strategy will track the country’s commodity production and consumption rates to able crop production forecasts and better anticipate shortages. The ministry expects […]
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
Egypt recovering stolen ancient artefact dominates foreign press coverage
Topping coverage of Egypt in the foreign press is the return of a stolen ancient Egyptian artefact that was found at a London auction. The reclaimed part of a King Amenhotep I cartouche was stolen from the open museum of Luxor’s Karnak temple. CNN, CTV news and Xinhua also have the story.
Posted inEGYPT IN THE NEWS
Political activist Ahmed Douma sentences to 15 years in prison
Human rights was again part of the conversation after a Cairo Criminal Court handed down a 15-year sentence and EGP 6 mn fine to political activist Ahmed Douma for his involvement rioting and assaulting security personnel in 2011. The sentence can be appealed within 60 days, Reuters notes. The story has been widely covered in […]
Posted inON THE FRONT PAGES
Econ and business news dominate headlines of Egypt’s main papers
Econ and business news permiated the front pages of the country’s three main state-owned dailies (Al Ahram | Al Akhbar | Al Gomhuria). Al Ahram and Al Akhbar highlighted the Standard Chartered report that said Egypt would be among the world’s top 10 economies by 2030 that we noted above. Meanwhile, Al Gomhuria focused on […]
Posted inWorth reading
How African cities are reconciling population growth and transportation issues
What Cairo can learn from Dar Es Salaam’s transportation systems. Dar es Salaam, the de facto capital of Tanzania, is revisiting public transportation solutions since its population began growing by half a mn people every year, reports the Guardian. With this growth, it matches Cairo in transportation system headaches, and whose solutions could be used […]
Posted inDiplomacy + Foreign Trade
Egypt, EBRD sign EUR 148 mn loan for Kitchener Drain project
Egypt, EBRD sign EUR 148 mn loan for Kitchener Drain project: Irrigation Minister Mohamed Abdel Atti and the European Bank for Reconstruction and Development’s (EBRD) Egypt Deputy Director Katrina Hansen have signed the final contract for the EBRD’s EUR 148 mn loan to finance the Kitchener Drain project, according to Al Mal.
Posted inBasic Materials + Commodities
Centamin produced 472.4k oz of gold from Sukari in 2018
Centamin announced that its 2018 full-year production from the Sukari gold mine was 472.4k ounces, marking a 13% y-o-y decrease, according to a company statement. The company had initially held a target of 580k ounces in 2018 but adjusted the figure following operational challenges it faced during 1H2018, such as lower grades being delivered. “We […]
Posted inTelecoms + ICT
NTRA to contract int’l company to run QoS tests in 1Q2019
The National Telecommunications Regulatory Authority (NTRA) is in the final stages of contracting an unnamed international company to conduct quality of service (QoS) tests on Egypt’s mobile network services in 1Q2019, CIT Minister Amr Talaat told Youm7. The quality of services has recently seen a marked decline, leading to a 4.84% y-o-y drop in September […]
Posted inAutomotive + Transportation
Sahar Nasr discusses with Uber’s SVP investment plans in Egypt
Investment Minister Sahar Nasr met with Uber’s Senior VP and Chief Legal Officer Tony West yesterday to discuss the details of the ride-hailing company’s planned investments and expansions in Egypt, according to a ministry statement (pdf). Uber had committed to investing USD 100 mn over five years following the launch of Uber Bus.
Posted inOther Business News of Note
ODH enters agreement with Chairman Samih Sawiris for stake purchase in ASA
Orascom Development Holding (ODH) has entered an agreement to purchase an additional 1% and one share of Andermatt Swiss Alps (ASA) from ODH Chairman Samih Sawiris at a total price of CHF 3.2 mn, according to a company press release. The transaction, which is conditional on Sawiris forgiving CHF 150 mn in debt owed to […]