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Nothing to look at here, folks. Move along, move along. (It’s a very slow news day for Egypt in the international press.)
Author Archives: enterpriseam admin
Posted inOn Deadline
Ministers’ new salaries, pension stir controversy
The nation’s columnists are skeptical about the newly approved bill regulating the salaries and pensions of ministers. El Watan’s Hazem Mounir says that increasing ministers’ pensions in lock step with salaries while appealing a court ruling that would have forced the state to raise pensions for all is “incomprehensible.” Ahram Gate’s Ismail Ibrahim said much […]
Posted inDiplomacy + Foreign Trade
Egypt not expected to send troops to Syria, Saudi in talks with the US
Egyptian authorities will not accept any US suggestion to send troops to Syria, former General Intelligence undersecretary Mohamed Rashad tells Egypt Independent. His statements came in response to a Wall Street Journal article yesterday citing senior US officials claiming the Trump administration had asked Egypt to partake in a joint Arab taskforce backed by Saudi, […]
Posted inDiplomacy + Foreign Trade
Egyptian-Sudanese Business Council targets doubling trade with Khartoum this year
The Egyptian-Sudanese Business Council is hoping to double trade between Cairo and Khartoum this year from USD 529 mn last year, according to Chairman Riad Armanious. The council, which is set to hold its first meeting on Saturday 21 April (pdf), also hopes to use cross-border business ties to help smooth over a recovering but […]
Posted inDiplomacy + Foreign Trade
Hamas delegation expected in Cairo to discuss Gaza protests, reconciliation agreement with Fatah
A senior Hamas delegation was set to discuss ongoing protests in Gaza and potentially meet with Fatah officials to resume reconciliation talks during a visit to Cairo yesterday, Times of Israel reports.
Posted inDiplomacy + Foreign Trade
Osama Nugali sworn in as Saudi Arabia’s new ambassador to Egypt
Osama Nugali was sworn in yesterday as Saudi Arabia’s new ambassador to Egypt and its permanent envoy to the Arab League, Al Shorouk reports. Nugali succeeds Ahmed Kattan.
Posted inEnergy
EGPC to receive first USD 400 mn tranche of USD 662 mn facility
A consortium of international finance institutions has agreed to disburse the first USD 400 mn tranche of a USD 662 mn short-term credit facility to the EGPC, a source from one of the institutions tells Al Mal. The group agreed to disburse the tranche after the EGPC secured a letter of guarantee from the Finance […]
Posted inAutomotive + Transportation
Nissan tops passenger car sales for 2M2018 despite market share drop
Nissan topped the list of passenger car sales in Egypt in January and February despite a drop in its market share to 23.3% from 32% last year, according to an Automotive Information Council (AMIC) report picked up by Al Mal. Hyundai came in second with a 22.1% market share, followed by Chevrolet (11%), Renault (9.5%), […]
Posted inAutomotive + Transportation
NAT, France’s RATP plan to set up a JV to operate, maintain Cairo Metro Line 3
The National Authority for Tunnels (NAT) is in talks with French public transport operator RATP to establish a French-Egyptian JV to operate and maintain Cairo Metro Line 3, which runs from Imbaba to Cairo International Airport, Al Masry Al Youm reports. Ownership of the new company would be an 80/20 split, with the NAT being […]
Posted inBanking + Finance
FRA allows the establishment of charitable investment funds
The Financial Regulatory Authority (FRA) approved a directive allowing the establishment of charitable investment funds, whose profits would go towards charity and other social welfare and development projects, Al Masry Al Youm reports. The move had been mandated in the executive regulations of the Capital Markets Act.