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Foreign Minister Sameh Shoukry began yesterday a two-day visit to Madrid, where he will meet today with his counterpart Alfonso María Dastis and others to discuss political, economic, and commercial cooperation, as well as other issues including illegal migration and combating terrorism, according to a ministry statement. Shoukry will then head to Germany tomorrow for […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
El Sisi meets with head of Russia’s Foreign Intelligence Service
President Abdel Fattah El Sisi met yesterday with the director of Russia’s Foreign Intelligence Service Sergei Naryshkin to discuss security cooperation between Cairo and Moscow, according to an Ittihadiya statement. El Sisi and Naryshkin also discussed Egypt’s anti-terror campaign, among other regional issues. Egypt’s acting head of General Intelligence Abbas Kamel also sat in on […]
Posted inEnergy
SDX commissions Sino-Tharwa rig for well at South Disouq
SDX Energy announced signing a rig contract for the ST-6 Rig with Sino-Tharwa Drilling Company for the Ibn Yunus-1X exploration well at South Disouq. “The agreement is for four firm wells and one contingent well. Sino-Tharwa’s ST-6 rig is currently drilling for another operator and is anticipated to be released in late February 2018 from […]
Posted inEnergy
EEHC receives three financial offers for USD 8 bn Hamrawein power plant
The Egyptian Electricity Holding Company (EEHC) has received financial offers from three consortia — General Electric-Harbin Electric, Mitsubishi-Hitachi, and Shanghai Electric-Dong Fang — for the USD 8 bn, 6 GW Hamrawein “clean coal” plant, unnamed Electricity Ministry sources tell Al Mal. The EEHC will reportedly begin looking into the offers today. Ministry sources had previously […]
Posted inEnergy
El Molla discusses investments with Algerian Energy Minister
Oil Minister Tarek El Molla met with Algeria’s Energy Minister Moustafa Guitouni and his accompanying delegation in Cairo to discuss investment opportunities for Egyptian companies in Algeria, Al Mal reports. The two also discussed cooperation on the petrochemicals industries and the possibility of allowing the Egyptian Drilling Company to operate in the country.
Posted inTourism
Tourists heading back to Egypt, Turkey -Tui
Turkey and Egypt are returning to popularity for UK holidaymakers, Tui’s CEO Fritz Joussen says, according to travel portal TTG. “We see a return to Africa — in winter we see a return to Egypt quite significantly…We also see a return to Turkey where we are still in the volume-building phase,” Joussen notes. TUI also […]
Posted inAutomotive + Transportation
Arafat breaks ground on USD 450 mn multipurpose terminal at Safaga Port
Transport Minister Hisham Arafat broke ground yesterday on a USD 450 multipurpose terminal at the Safaga Port, according to a ministry statement. The new terminal will have the capacity to handle 500k containers carrying 2.5 mn tonnes of cargo per year in its first phase. At completion, the 400 sqm terminal’s capacity will increase to […]
Posted inAutomotive + Transportation
Transport Ministry studying Ain Sokhna-Hurghada high-speed train line
The Transport Ministry has begun feasibility studies for 350-km high-speed rail line connecting Ain Sokhna to Hurghada, Minister Hisham Arafat has announced, according to Al Masry Al Youm. The new line would also be connected to the Alamein-Ain Sokhna high-speed train line, which has received offers from 23 international consortiums.
Posted inBanking + Finance
NI Capital’s Tamweely receives temporary microfinance license
The Financial Regulatory Authority (FRA) awarded Tamweely a temporary microfinance license, with the company looking to launch operations “in the next few days,” said Chairman Amr Abul Azm. The company expects to receive the final license before the end of 1Q2018, Abul Azm said in a statement (pdf). Tamweely was established in August by state-owned […]
Posted inSports
Egypt to host air games over The Pyramids
Egypt’s first-ever Air Games have been slated for 25-29 April. Skydivers will be required to pay a fee of USD 2,000, while paramotor pilots pay USD 1,000 to get a “from-the-air-tour of the pyramids, followed by an airshow” that will participants hoist the “the largest Egyptian flag ever,” Al Masry Al Youm says. Further details […]