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Madbouly meets with World Bank reps for USD 500 mn social housing loan: Prime Minister Moustafa Madbouly met with World Bank representatives to discuss the USD 500 mn loan he had requested from the bank in July for social housing development, Youm7 reports. The bank had pledged earlier this month USD 3 bn in funding […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt and Indonesia signed USD 67.5 mn worth of trade agreements
Egypt and Indonesia signed USD 67.5 mn worth of trade agreements, Antara News reports, citing a statement from the Indonesian Embassy in Cairo. The agreements are skewed toward Egyptian imports of Indonesian goods including tires, coffee beans, oils and spices.
Posted inDiplomacy + Foreign Trade
Agri minister talks increasing produce trade with Jordan
Agri minister talks increasing produce trade with Jordan: Agriculture Minister Ezzedin Abou Steit met on Saturday with his Jordanian counterpart Ibrahim Al-Shehadeh to discuss facilitating procedures for trading agricultural products, according to Ahram Gate. The two ministers also looked into expanding cooperation between the two countries to exchange know-how on agricultural practices and water conservation […]
Posted inDiplomacy + Foreign Trade
NATO-style regional alliance to be formed by next year
The Middle East Strategic Alliance (MESA) will be formed next year, Bahrain’s Foreign Minister Sheikh Khalid bin Ahmed Al Khalifa said yesterday, according to Reuters. The NATO-style Arab military alliance — that is expected to consist of forces from Egypt, Saudi, Bahrain, Kuwait, Jordan, and Qatar — was proposed by US President Donald Trump earlier […]
Posted inDiplomacy + Foreign Trade
Palestinian militants agree to ceasefire after Egypt talks
Palestinian militant group Islamic Jihad agreed yesterday to an Egypt-mediated ceasefire with Israel, Reuters reports. “The Islamic Jihad will abide by the ceasefire if the occupation (Israel) does the same,” a spokesman for the group said.
Posted inEnergy
Lekela Power seeks USD 81.4 mn in EBRD funding for 250 MW wind farm
Lekela Power is looking to borrow USD 81.4 mn from the European Bank for Reconstruction and Development (EBRD) and other parties to fund the development of its 250 MW wind farm in the Gulf of Suez, according to documents released last week by the EBRD. Through a special purpose vehicle called Lekela Egypt Wind Power […]
Posted inEnergy
Eni-Naturgy JV looking to re-launch operations at Damietta LNG facility in 2019
Italy’s Eni and its Spanish partner Naturgy are in “advanced talks” to re-launch operations at their Damietta LNG facility in 2019, Eni’s CFO Massimo Mondazzi said on Friday, according to Reuters. The World Bank’s International Centre for Settlement of Investment Disputes had ordered Egypt to pay USD 2 bn in settlements to the two companies’ […]
Posted inEnergy
El Molla discusses Petronas’ future plans, 9B gas field
Oil Minister Tarek El Molla met on Friday with Petronas CEO Wan Zulkiflee to discuss the company’s plans in Egypt and its West Nile Delta 9B gas field, according to Ahram Gate. Production from the field, which Petronas jointly owns with Shell and EGPC, is set to begin this fiscal year and is expected to […]
Posted inEnergy
Solar products suppliers required to receive EOSQ approval for quality control
Trade and Industry Minister Amr Nassar issued a decision yesterday requiring suppliers of solar-powered water heaters, thermal collectors, and solar panels to have their products approved by the ministry’s Organization for Standardization and Quality (EOSQ) before being sold in Egypt. The decree grants suppliers a one-year window to comply with the new regulations.
Posted inBasic Materials + Commodities
Egypt’s GASC buys 470k tonnes of Russian, Ukrainian, and US wheat in tender
The General Authority for Supply Commodities (GASC) purchased 470k tonnes of wheat in an international tender on Friday for delivery between 11-20 November, according to Reuters’ Arabic service. The lowest offer was presented from Russia’s ECTP at USD 248.80 per tonne, including shipping. GASC purchased 350k tonnes from Russian suppliers, while Ukrainian and US suppliers […]