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Mo Salah seems to have won his EFA battle, but he should “tread lightly”: National football icon Mo Salah seems to have won his latest fight with the Egyptian Football Association (EFA), in which the Liverpool forward demanded better treatment of the national team’s players, Gerald Imray writes for the Associated Press. The spat was […]
Author Archives: enterpriseam admin
Posted inOn Deadline
How Egypt should tackle religious strife and conflict moving onwards
Egypt needs to study the root causes of religious strife in Upper Egypt, Mona Makram-Ebeid writes for Al Masry Al Youm. A scholar and former member of the predecessor to today’s House of Representatives, Makram-Ebeid says extremism and disrespect for the rule of law are expressing themselves in religious strife that undermines the government’s work […]
Posted inWorth reading
Global warming opens up rival shipping route to Suez Canal
**#10 Global warming could hit us in our wallets as rival shipping routes threaten the Suez Canal. The Venta Maersk sailed through the Bering Strait this past week ahead of navigating a route through the Arctic, which could cut shipping times significantly compared to Suez Canal route, write William Booth and Amie Ferris-Rotman for the […]
Posted inEnergy
Zohr production output reaches 2 bcf/d
Production from the supergiant Zohr gas field has now reached 2 bcf/d, Eni said in a release yesterday (pdf). Eni, EGAS, and their JV Petrobel expect to reach a production plateau of more than 2.7 bcf/d in 2019, according to the release. Egypt’s total natural gas output reached 6.6 bcf/d after the most recent ramp […]
Posted inBasic Materials + Commodities
No sugar imports this year -Supply Minister
Egypt will not import sugar this year as the market due to excess supply in the local market thanks to a steady stream of output, Supply Minister Aly El Moselhy said on Thursday, according to Al Mal.
Posted inInfrastructure
Transport Ministry sets up holding company for multipurpose platforms
The Transport Ministry has set up a holding company owned by the Suez Canal Authority, the Alexandria Port Authority, and the Holding Company for Maritime and Land Transport to design, construct, operate, and maintain multipurpose platforms, according to a Thursday statement. The company, named the Egyptian Group for Multipurpose Platforms, will have an authorized capital […]
Posted inReal Estate + Housing
Naguib Sawiris launches Ayia Napa Marina project next summer
Ayia Napa Marina, Naguib Sawiris’ EUR 220 mn luxury residential development in Cyprus, is expected to open its doors by next year’s summer, Sawiris said in a tweet. Sawiris had began marketing his project with his Cypriot business partner Stavros Caramondanis to UAE investors earlier this year.
Posted inTourism
Tui will continue sending tourists to Steigenberger Aqua Magic despite e-coli reports
Global travel operator Tui will continue making bookings to Egypt’s Steigenberger Aqua Magic despite a report from Thomas Cook that high levels of e-coli and staphylococcus bacteria was found at the hotel, according to The Sun. Tui said the decision was made after having conducted independent surveys and finding they hygiene standards at the hotel […]
Posted inAutomotive + Transportation
Military Production Ministry looking to partner up with ABC for locomotive engines
Military Production Minister Mohamed El Assar met with executives from Belgian train engine maker Anglo Belgian Corporation (ABC) to discuss a potential collaboration, according to Al Shorouk. The two sides could potentially sign an agreement under which the ministry would manufacture engines for railway locomotives in Egypt using ABC’s technology.
Posted inBanking + Finance
Banque Misr, Banque du Caire tap Moody’s to provide services for implementation of IFRS 9
Banque Misr and Banque du Caire have reached an agreement with Moody’s that will see the credit agency provide the two banks with the software and advise them on the technical and financial aspects of implementing IFRS 9 accounting standards, unidentified sources tell Al Mal. Moody’s reportedly beat out six other institutions for the contract, […]