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President Abdel Fattah El Sisi met yesterday with Ethiopian Prime Minister Abiy Ahmed to discuss the Grand Ethiopian Renaissance Dam (GERD) and other issues pertaining to bilateral ties, according to an Ittihadiya statement. Ahmed and El Sisi will meet again to hold further talks on several issues, most important of which is GERD, Ittihadiya spokesman […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Arab Monetary Fund approves Egypt loan
The Arab Monetary Fund approved a loan to support Egypt’s SMEs during the fund's board of directors meeting Abu Dhabi, UAE News agency WAM reports. The value of the value was not disclosed.
Posted inEnergy
MIDOR signs USD 1.7 bn agreement with Italy’s Technip to maximize production
State-owned MIDOR refinery signed a USD 1.7 bn agreement with Italy’s Technip as part of a USD 2.2 bn project to expand its refining capacity to 175k barrels of crude per day, from 115k barrels, the Oil Ministry announced on Thursday. ENPPI and Petrojet will also take part in the expansion, which is expected to […]
Posted inManufacturing
Kabil in talks with Germany’s Gelita to build Egypt’s first Gelatin factory
Trade and Industry Minister Tarek Kabil met with a delegation from Germany’s Gelita AG on Thursday to discuss building a gelatin factory in El Roubiki Leather City, according to a ministry statement. If implemented, the gelatin production factory will be the first of its kind in Egypt, Kabil said, adding that the project aims to […]
Posted inManufacturing
IDA gives 40 investors from 1,000 factories three-month ultimatum to remedy their situation
The Industrial Development Authority (IDA) gave 40 investors from the New Cairo 1,000 factories project a three-month deadline to either begin construction or production, or risk losing their plots, sources from the authority said. The IDA had previously issued several warnings, which the investors reportedly did not heed.
Posted inSports
Egypt’s El Shorbagy, El Sherbiny win PSA Dubai after all-Egyptian final
Mohamed El Shorbagy and Nour El Sherbiny walked away with the men and women’s titles at the PSA Dubai World Series Finals after an all-Egyptian final round, according to PSA World Tour. El Shorbagy beat Ali Farag, defending his title from last year, while El Sherbiny claimed the championship for the first time after beating […]
Posted inON YOUR WAY OUT
Has the state finally won its years-long whack-a-mole game with Shou Ming?
Has the state finally won its years-long whack-a-mole game with Shou Ming? Police arrested the alleged administrator of Egypt’s answer to Fight Club’s project Mayhem — the infamous Shou Ming Facebook cheat group — on charges of leaking Thanaweya Amma exams, the Interior Ministry proudly announced. Egypt’s alleged Tyler Durden? A 19-year-old student from Sharqiyah, […]
Posted inON YOUR WAY OUT
British Council launches EGP 30 mn DICE program to support social enterprises
The British Council in Egypt announced launching a EGP 30 mn two-year program ‘Developing Inclusive and Creative Economies’ (DICE) to support Egypt’s creative economy and social enterprises sector, according to a British Council press release. The project, which will offer individuals grants to kickstart their projects, aims to bring actors together from government, academia, and […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.82 | Sell 17.92 EGP / USD at CIB: Buy 17.79 | Sell 17.89 EGP / USD at NBE: Buy 17.79 | Sell 17.89 EGX30 (Thursday): 15,924 (+0.1%) Turnover: EGP 928 mn (17% BELOW the 90-day average) EGX 30 year-to-date: +5.9% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
14 June (Thursday): 2018 World Cup kickoff match between Russia and Saudi Arabia, Moscow, Russia. 15 June (Friday): Egypt’s first 2018 World Cup match against Uruguay, Yekaterinburg, Russia. 15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday). 19 June (Tuesday): Egypt plays […]