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INVESTMENT WATCH- China’s Wuhan to invest in EGP 500 mn building materials factory: China’s Wuhan Corporation has signed a partnership agreement earlier this week with a consortium of unnamed Arab investors to establish an EGP 500 mn building materials factory in the Suez Canal Economic Zone, Al Borsa reports. Matouk Bassiouny was reportedly tapped as […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Is the Trump administration unfreezing military aid it withheld from us last year?
Will the Trump administration unfreezing the c. USD 200 mn in military aid it withheld from us last year? Foreign Ministry spokesperson Ahmed Abu Zeid said the US would release the full USD 1.3 bn in military aid to Egypt in its FY2018 budget and will do so in again in FY2019. His statement came […]
Posted inSpeed Round
Genena ordered detained by military prosecutors
Genena detained by military prosecution for 15 days: Military prosecutors ordered former head of the Central Auditing Organization Hesham Genena to be detained for 15 days pending investigation of his claim that he holds incriminating evidence against the Supreme Council of Armed Forces, state news agency MENA reported, according to Reuters. Genena’s detention comes two […]
Posted inSpeed Round
El Sisi appoints Khairat Barakat as new CAPMAS boss
MOVES- CAPMAS has a new boss. President Abdel Fattah El Sisi appointed Khairat Mohamed Barakat as the new head of state statistics and census agency CAPMAS, Al Shorouk reports. Barakat succeeds Abu Bakr El Gendy, who became Local Administration Minister in last month’s limited cabinet shuffle.
Posted inSpeed Round
Erdogan threatens Cyprus over gas standoff
Turkish President Tayyip Erdogan has warned Cyprus not to “overstep the mark” in the eastern Mediterranean after the Cypriot government accused the Turkish military of blocking an Eni drill rig from exploring for natural gas since Friday, Reuters reports. “Our warships and security units are following all developments in the region with the instruction to […]
Posted inUncategorized
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Posted inImage of the Day
WWII wreck off Egypt coast wins 2018 Underwater Photographer of the Year award
WWII wreck off Egypt coast wins snapper the 2018 Underwater Photographer of the Year award: UPY awarded Tobias Friedrich the 2018 Underwater Photographer of the Year award for a panoramic shot inside a Second World War wreck of the armed British freighter Thistlegorm off the Sinai coast. Friedrich said the picture (dubbed Cycle Wars because […]
Posted inEGYPT IN THE NEWS
Elections will be “farcical,” rights groups say
The arrest of former corruption watchdog Hisham Genena and his referral to the military prosecution tops coverage of Egypt in the foreign press this morning, with stories from the Guardian, Wall Street Journal, the Times of Israel, and Aljazeera. That comes as 14 international and regional rights groups, including Human Rights Watch said the scheduled […]
Posted inOn Deadline
Egypt should axe its plans to export natural gas
Egypt should axe its plans to export natural gas and instead ensure its domestic needs will be met for the years to come, Hussein Abd Rabbo writes in amateur analysis at Al Borsa. Previous governments made the mistake of exporting natural gas without a plan until they turned the country to a net importer, he […]
Posted inWorth watching
Catalyst makes alcohol and perfume from air
Biblical miracles 2.0 — turning air into booze: A US startup Catalyst has developed a commercial-scale reaction that turns carbon dioxide from the air, sunlight, and water into pure ethanol for use in consumer products like spirits and perfume, Reuters reports (watch, runtime: 1:40). The reaction, which is carbon-negative (removes emissions from the atmosphere), is […]