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Posted inDiplomacy + Foreign Trade

40 countries looking to acquire locations for embassies at new capital

Some 40 countries submitted requests to acquire land for new embassies at the new administrative capital, New Administrative Capital Company spokespersonKhaled El Hosseini tells Amwal Al Ghad. He did not name the countries but said that the Foreign Ministry is handling all the requests and organizing a visit to the new city for a number […]

Posted inTelecoms + ICT

TE and Airtel finalize agreement granting Airtel right to use TE’s cable systems

Telecom Egypt (TE) and Indian telecom company Bharti Airtel signed yesterday the final contracts for a partnership agreement that will grant Airtel permanent indefeasible right of use the TE North Cable and recently-acquired MENA subsea cable systems, according to a press release (pdf). TE is expecting to generate cash inflows of USD 90 mn from […]

Posted inOther Business News of Note

Saudi’s Sela terminates broadcasting rights with Presentation advertising agency

Saudi Arabian sports marketing firm Sela has unilaterally terminated its broadcasting rights agreement with advertising agency Presentation, which granted Pyramids TV the right to air Egyptian league matches, Presentation said in a press release carried by Yallakora. The decision comes a week after Sela had terminated its four-year sponsorship agreement with Al-Ahly Football Club after […]

Posted inOther Business News of Note

Emaar-owned online fashion retailer Namshi eyes expansion to Egypt

Emaar-owned online fashion retailer Namshi is looking to enter the Egyptian market, Namshi CEO Hosam Arab told the press yesterday, the National reports. The UAE-based retailer intends to target the youth population, which Arab says is underserved. No further details were provided. The e-commerce market in Egypt is expected to grow by 33% by 2022 […]

Posted inEgypt Politics + Economics

Egypt court overturns sentences for ‘Libya returnees’ case, orders retrial

The Court of Cassation overturned yesterday death and imprisonment sentences handed down in 2015 to 14 people who were arrested on terrorism-related charges in the “Libya returnees” case, according to Al Masry Al Youm. The defendants were arrested at Al-Salloum port on the Egypt-Libya border on charges of murder with premeditated intent and attacking public […]

Posted inEgypt Politics + Economics

Security forces kill senior Daesh member Maqdisi and two others

Daesh announced yesterday that Egyptian security forces killed senior member Abu Hamza Al Maqdisi and two others during an airstrike yesterday near Sheikh Zuweid in North Sinai, Reuters reports. Maqdisi was head of Daesh’s planning and training operations in Sinai. Egyptian authorities did not make an official comment on the incident, the newswire notes.

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