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Egypt’s ceasefire negotiations with Israel stalled, leading to heated Palestinian border protests, reports the Associated Press. Egypt brokered ceasefire negotiations between Israel and Hamas last Month, giving Palestinians living under the Gaza blockade renewed hopes of eased restrictions.
Author Archives: enterpriseam admin
Posted inEnergy
Oil Ministry sees 10% consumption increase in fuel and gas this year
The Oil Ministry expects domestic consumption of fuel to increase 10.2% y-o-y to 35.5 mn tonnes in FY2018-19, Oil Minister Tarek El Molla told Masrawy. Natural gas consumption is projected to increase 10.46% y-o-y this year. As Egypt’s concessions come online the ministry is looking to reducing its dependence on fuel in favor of natural […]
Posted inInfrastructure
Venice port in talks with Alex customs to cooperate as part of One Belt, One Road
The port of Venice is expected to sign an MoU soon with the Alexandria Customs Authority which would help increase movement of ships between them, Port Authority President Pino Musolino said, Italy’s ANSAMed reports. The move is part of both authorties’ commitment to increase cooperation as part of the China-led One Belt, One Road initiative.
Posted inBasic Materials + Commodities
GASC purchases 475k tonnes of Russian, Ukrainian wheat
The General Authority for Supply Commodities (GASC) purchased 475k tonnes of wheat from seven international companies in a tender on Tuesday for delivery in November, according to Reuters’ Arabic service. 60,000 tonnes were bought from Ukraine, while the rest came from Russia. The lowest offer GASC received for the first batch was USD 243.10 per […]
Posted inHealth + Education
El Sisi inaugurates Japanese schools, renovated health facilities
President Abdel Fattah El Sisi inaugurated on Tuesday a number of Japanese schools in Menoufia, Giza, and Shebin El Koum, according to an Ittihadiya statement. He also opened newly renovated public hospitals, which cost the state EGP 256 mn to upgrade.
Posted inTourism
Prosecutor General rules definitively that e-coli was the ultimate cause in holiday-gate deaths
The Prosecutor General released his report on the investigation into the sudden deaths of UK holidaymakers John and Susan Cooper following a stay at the Steigenberger Aqua Magic Hotel in Hurghada last month, according to a statement from the Tourism Ministry (pdf). The report puts John Cooper’s death down to a cardiac arrest and respiratory […]
Posted inTourism
Archaeologists unearth linen-wrapped mummy in stone coffin in Aswan
Archaeologists unearthed a sandstone sarcophagus that houses a mummy wrapped in linen in Aswan’s Aga Khan, according to an Antiquities Ministry statement. The items date back to the late period of Ancient Egypt.
Posted inAutomotive + Transportation
New capital monorail derailed again?
It appears that some contractors bidding on the new capital-6 October monorail have lost their appetite for the project, with two “of the leading bidders” pulling out of the tender, sources tell Amwal Al Ghad. They added that the move has delayed announcing the winning bid until October. The tender project had been fraught with […]
Posted inBanking + Finance
Samcrete asks NBE for bigger credit facility to finance growing projects
Samcrete Egypt Engineers and Contractors has asked to increase the size of a credit facility it’s negotiating with National Bank of Egypt (NBE) to nearly EGP 3.2 bn to finance the growing number of projects it’s handling, Al Mal reported. The company’s negotiations with NBE had begun in March over a EGP 2.5 bn loan.
Posted inOther Business News of Note
Arab Contractors wins USD 54 mn contract to upgrade road in Uganda
Arab Contractors announced yesterday winning a USD 54 mn contract to upgrade the Masaka- Bukakata road in Uganda, Chairman Mohamed Salah said. The project is funded through a loan from the Arab Bank for Economic Development and the OPEC Fund for International Development to the Ugandan government, according to Chimp Reports.