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The BBC is running a stunning photo gallery of the 220km Sinai trail. We know we’ve picked up images of this before, but we can’t get past how awesome it really is. Definitely on the bucket list for some of us here — though certainly not in this heat. This comes as ABC Australia has […]
Author Archives: enterpriseam admin
Posted inOn Deadline
Why did the new government turn its back on Tarek Kabil’s Automotive Directive?
Why did the new government turn its back on Tarek Kabil’s Automotive Directive? The government’s decision to scrap — or at least significantly modify — the Automotive Directive drafted and promoted by former Trade and Industry Minister Tarek Kabil has Al Masry Al Youm’s Hany Labib scratching his head. Labib takes note of our exclusive […]
Posted inWorth reading
Why small-time perfumeries makers are making it big
Why small-time perfumeries are making it big: Independent perfume makers in the US accounted for some 6% of the country’s USD 4 bn industry last year, selling just as well, if not far better, than many high-end brands, according to Bloomberg, and it’s not because they’re cheaper. “A mass-market luxury perfume might use high-end ingredients, […]
Posted inDiplomacy + Foreign Trade
Hamas to decide on Egypt’s mediated reconciliation plan with Israel this week
Senior Hamas officials are debating whether to accept an Egypt and UN-proposed ceasefire with Israel, according to Bloomberg. Senior leaders from Hamas returned to Gaza on Thursday to discuss with other local leaders the proposed plan, which involves a prisoner swap and the construction of seaports, one each in Ismailia and Sinai as part of […]
Posted inEnergy
Gas production at Egypt's 9B field to begin in October
Shell is due to begin production from its two deepwater wells at the West Nile Delta field 9B in the first half of October, Oil Minister Tarek El Molla said, according to an Oil Ministry statement. The entire project is set to come online by 2H2019, producing up to 400 mcfd. Shell said in May […]
Posted inEnergy
Electricity Ministry moves ahead with plans to link Egypt-Sudan electricity grids
The Electricity Ministry appears to be moving ahead with plans to link our national grid with Sudan’s, according to Al Masry Al Youm. The first phase of the USD 60-70 mn project will involve the construction of antenna lines for total investments of USD 6.7 mn, ministry spokesperson Ayman Hamza tells the newspaper. The lines […]
Posted inBasic Materials + Commodities
Egypt receives USD 48.3 mn from Sukari gold mine in 1H2018
Egypt has received USD 48.3 mn in profit share and royalties from Centamin’s Sukari gold mine in 1H2018. The Egyptian Mineral Resources Authority (EMRA) received USD 39.3 mn in profit share from the mine, with Centamin paying USD 9.0 mn in royalties to the state, Centamin said in its earnings release (pdf). This came as […]
Posted inBasic Materials + Commodities
Sugar farmers want to grow stevia as alternative to more water-intensive crops
Local farmers are calling for permission to grow stevia as an alternative source of sugar to replace water-intensive crops such as sugarcane and beets, according to Al Masry Al Youm. A feddan of stevia can reportedly produce as much sugar as 18 feddans sugar cane. Egypt has beenclamping down on cultivation of unsustainable agricultural practices […]
Posted inTourism
Recovering tourism in Egypt, Tunisia, Turkey push Spanish hotels to cut prices
Recovering tourism markets in Egypt, Tunisia, and Turkey are pushing Spanish hotels to cut prices on summer holiday packages, Reuters reports. The three resurgent markets are competing with Spain mostly for German and British tourists, the newswire notes. As we noted previously, Spanish coastal cities in particular are taking a hit from the lower prices […]
Posted inBanking + Finance
Abu Qir Fertilizers vetting three offers for EGP 600 mn loan for nitric acid project
Abu Qir Fertilizers is vetting offers from three banking consortiums for a EGP 600 mn loan needed for its nitric acid project, company sources tell Al Mal. The company received offers from consortiums led by the National Bank of Egypt (NBE) and Kuwait National Bank, according to the sources, who refused to name the third […]