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Other stories worth noting this morning: Bahrain’s debt default risk is higher than Egypt and Argentina’s, signaling that while the country’s new major oil discovery maybe its largest ever, it is likely not enough to spur a reversal in its “financial fortunes,” according to Bloomberg. “Practicing journalism can be hazardous to your health” in countries […]
Author Archives: enterpriseam admin
Posted inOn Deadline
Egypt has not succeeded at encouraging its citizens to invest their funds and talents at home
Egypt has not succeeded at encouraging its citizens to invest their funds and talent at home, Abdel Nasser Salama says in a column penned for Al Masry Al Youm. Instead, the country has witnessed significant brain drain and a propensity among business figures to take their funds elsewhere, where policies are more encouraging.
Posted inWorth reading
African economies lag behind in renewable energy
African economies are “lagging behind” in the renewable energy domain due largely to a lack funding needed for infrastructure development, Steve Johnson writes for the Financial Times (paywall). Emerging markets as a whole are still miles behind the developed world where green energy is concerned, but Africa in particular suffers from a specific problem: “Even […]
Posted inWorth watching
Refugee entrepreneurs create markets under extreme conditions in Jordan’s Zaatari camp
It’s becoming increasingly clear that entrepreneurship is the light in the end of the tunnel for many refugees. The UN estimates that the 3,000 informal shops and businesses at the Zaatari camp in Jordan generate USD 13 mn a month, according to The Economist. Some of these businesses are so successful they’re exporting their work […]
Posted inDiplomacy + Foreign Trade
GERD talks to resume in Khartoum today
Foreign Minister Sameh Shoukry is heading to Khartoum today to attend the two-day round of talks on the Grand Ethiopian Renaissance Dam (GERD), according to a ministry statement. Shoukry will be joined by Irrigation Minister Mohamed Abdel Aty and Meetings and intelligence officials who will also meet with their counterparts from Sudan and Ethiopia. Dam […]
Posted inDiplomacy + Foreign Trade
El Sisi receives Iraqi House Speaker Salim Al Jabouri
President Abdel Fattah El Sisi received yesterday an Iraqi parliament delegation led by Speaker Salim Al Jabouri, according to an Ittihadiya statement. The two discussed cooperation, regional issues, and Egypt’s support for Iraq’s reconstruction and security efforts.
Posted inDiplomacy + Foreign Trade
US delays summit with GCC leaders to September due to lack of progress on mending Qatar rift
The White House has postponed a planned summit with GCC leaders to September from this spring. The delay is likely “a nod to the fact that Washington has made little progress so far in ending the bitter standoff between Qatar and other Gulf nations,” unnamed US officials tell Reuters. Egypt had joined the boycott against […]
Posted inEnergy
NOMP signs MoU with UAE’s ATD to increase efficiency of power stations
The National Organization for Military Production (NOMP) signed an MoU with Abu Dhabi-based energy tech group Advanced Technology Development (ATD) to maintain and upgrade power stations in Egypt, Minister Mohamed El Assar said yesterday, Al Shorouk reports. The agreement will see ATD work on increasing fuel efficiency and the local-manufacturing of spare parts needed for […]
Posted inInfrastructure
Ukrainian company considers investing in grain transport, storage projects at Damietta Port
Ukrainian grain trader Nebulon is studying the possibility of investing in grain storage and transport projects in Damietta, Al Mal reports. A company delegation met with Damietta Port Authority head Ayman Saleh, who accompanied them as they inspected the grain handling stations the port plans to tender. The Damietta Port has been undergoing major upgrades, […]
Posted inBasic Materials + Commodities
Supply Ministry reduces prices on subsidized commodities ahead of Ramadan
The Supply Ministry has decided to reduce the prices of some subsidized commodities, including sugar, dates, flour, lentils, and fava beans ahead of Ramadan, Food Industries Holding Company head Alaa Fahmy said. The price reductions will be in effect from 10-13 May.