Author Archives: enterpriseam admin

Another milestone in Egypt’s transformation to a global energy hub — LNG exports to the UK: Egypt sent a rare LNG export shipment to the UK on Sunday from the Idku plant, according to Bloomberg. The shipment comes as Egypt ramps up domestic production on its gas fields, including Zohr, while promoting agreements abroad which […]

Surprise. Egypt, Sudan, Ethiopia fail to reach agreement in GERD talks: Tripartite talks in Khartoum between Egypt, Sudan, and Ethiopia over the Grand Ethiopian Renaissance Dam (GERD) ended on Friday without agreement, Foreign Minister Sameh Shoukry announced, according to Ahram Online. “We will continue to comply with the instructions of political leaders in our countries […]

Nasr signs USD 100 mn loan agreement with KFAED: Investment and International Cooperation Minister Sahar Nasr signed yesterday the contracts for a USD 100 mn loan from the Kuwait Fund for Arab Economic Development (KFAED) to complete the financing of five water desalination plants in South Sinai, according to an emailed statement (pdf). Egypt and […]

Direct flights between Cairo and Kiev for Ukrainian airlines began on Friday for the first time in 13 years, Ukraine’s ambassador to Cairo Hennadii Latii said, according to Youm7. Direct flights through Ukraine’s national carrier Ukraine International Airlines had launched flights to Cairo on Friday. Ukraine’s Aerosvit Airlines had suspended direct flights to Cairo 13 […]

Speaking of long awaited moves from Russia, Cairo and Moscow are in “the final stages” of talks over the USD 7 bn Russian Industrial Zone (RIZ), according to Federation of Egyptian Chambers of Commerce Secretary General Alaa Ezz. Suez Canal Economic Zone chief Mohab says negotiations over the RIZ are going to enter their final […]

BUDGET WATCH- Discussions on the FY2018-19 budget plan in the House of Representatives began almost a week ahead of schedule as the House Budget Committee kicked off its deliberations on Sunday, according to Al Mal. From what we’re seeing, the committee appears to view the bill favorably. Committee chair Hussein Eissa and deputy chair Yasser […]

Orange Egypt has signed for an EGP 7 bn syndicated loan with eight banks to refinance its existing EGP 4.3 bn debt (incurred mostly in the acquisition of a 4G license) and finance its expansion plans in Egypt, according to a company statement. The lending banks are CIB, NBE, Banque Misr, Alex Bank, HSBC, Emirates […]

KIMA signs EGP 7 bn syndicated loan to finance Aswan fertilizer production facility: The Egyptian Chemical Industry Company (KIMA) signed on Thursday a EGP 7 bn syndicated loan agreement to finance its ammonia and urea production facility in Aswan, according to a statement (pdf). The agreement is an amendment to the original facility signed in […]

MOVES- Renowned journalist Hamdy Rizk has been appointed as the new editor-in-chief of Al Masry Al Youm, Ahram Online reports. Rizk replaces Mohamed El Sayed Saleh, who was dismissed by the board last week following controversy over the newspaper’s coverage of the 2018 presidential election. Rizk served as editor-in-chief of Al Musawar magazine from 2009-13, […]