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Author Archives: enterpriseam admin
Posted inUp Next
What we’re tracking this week and beyond
** #6 The government will announce in two weeks’ time the date of the first auction it will hold for the sale of unused state land, Public Enterprise Minister Hisham Tawfik said yesterday, according to a ministry press release (pdf). The move — which comes as part of state efforts to draw in funds necessary […]
Posted inEGYPT IN THE NEWS
Economist’s release on bail tops int’l coverage of Egypt
Topping coverage of Egypt in the foreign press this morning is economist Abdel-Khalek Farouk’s release on bail, after he was detained and accused of spreading fake news ahead of the publication of his new book. The AP has the story. Farouk’s arrest means Egypt’s crackdown on dissent has expanded to include dissenting economists, Zvi Bar'el […]
Posted inDiplomacy + Foreign Trade
Amira Oron appointed as new Israeli ambassador to Egypt
Amira Oron was appointed as Israel’s new ambassador to Egypt, Israel’s Foreign Ministry said yesterday, according to Xinhua. Oron — Israel’s first woman ambassador to Egypt since the countries’ establishment of diplomatic relations — succeeds David Govrin, and had previously been a staff member at the embassy. She had also served as chargé d'affaires of […]
Posted inEnergy
Oil Ministry expects Egypt’s crude oil production at 670-680k in FY2018-19
The Oil Ministryexpects Egypt’s production of crude oil to record 670-680k bbl/d in FY2018-2019, up from 660k bbl/d in FY2017-2018, a ministry official tells Youm7. The ministry expects local production to ramp up as a number of fields go online within the next few months. The ministry had previously said it is aiming to have […]
Posted inEnergy
GES to build 263 MW wind farm in Egypt
Spain’s Global Energy Services (GES) will complete a 263 MW wind farm near Ras Ghareb by the end of 1Q2019, according to a company press release. The farm will be executed over three phases and work and is set to become “the first wind farm executed under a Build-Own-Operate scheme.” Energy will be sold under […]
Posted inBasic Materials + Commodities
Egypt fruit exports dipped last season as a result of bans
Egypt exported 4.1 mn tonnes of fruits last season for a total USD 2.18 mn, which is 5% more in terms of volume and 1% less in terms of value, Agricultural Export Council head Abdel Hamed El Demerdash said, Youm7 reports. He attributed the drop to some exporters’ failure to abide by rules on pesticide […]
Posted inHealth + Education
Al Safa Hospital to acquire Al Fayrouz Hospital assets for EGP 136.5 mn
Al Safa Hospital has won a court-ordered liquidation auction for Al Fayrouz Hospital’s assets, for which Al Safa will pay EGP 136.5 mn. The National Bank of Egypt, the Egyptian Arab Land Bank, and the Arab Banking Corporation had auctioned off Al Fayrouz’s assets for failing to meet interest payments, sources from the banks said.
Posted inHealth + Education
Samsung delivers 250k educational tablets for new academic year
The Education Ministry has received a first batch of 250k tablets from Samsung Egypt, which are set to be handed out to public school students enrolled under the first phase of the ministry’s K-12 educational reform program. Samsung is expected to deliver another 708k tables, an unnamed company exec tells Youm7. Egypt had contracted Samsung […]
Posted inTourism
Cairo was the world’s fastest-growing tourism destination in 2017
Cairo was the world’s fastest-growing tourist destination in 2017, witnessing a 34.4% y-o-y growth in tourism and travel GDP, according to the World Travel and Tourism Council’s annual report (pdf). China’s Macu came in second place (14.2%), followed by Istanbul (13.1%), and Dublin (11.5%). The report attributes the growth to “improved political stability.”