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Egypt could sign agreement with France for 12 new Rafale jets in weeks: Egypt could sign an agreement with France for the purchase of 12 new Rafale fighter jets in a few weeks’ time, sources close to the matter told La Tribune on Thursday. French Foreign Minister Jean-Yves Le Drian reportedly finalized the transaction with […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Earnings Watch: EFG Hermes, ERC, Credit Agricole Egypt
EARNINGS WATCH- EFG Hermes reported a 476% y-o-y increase in net profit after tax and minority interest to EGP 237 mn in 3Q2017. Revenues also increased by 184% y-o-y to EGP 834 mn. CEO Karim Awad. “The final months of 2017 will see us make important headway in our strategic goal of expanding our product […]
Posted inSpeed Round
Orascom Development aiming to buy 2 mn sqm of land in the North Coast
Orascom Development is looking to acquire 2 mn sqm of land in the North Coast for a Gouna-type resort, CEO Khaled Bichara said in a statement to the press. Bichara kept details to a minimum, adding only that a contract had been signed with another private sector company to co-develop the land but that work […]
Posted inSpeed Round
Arab quartet meeting with AL sec-gen today
The foreign ministers of the Arab quartet boycotting Qatar will meet Arab League Secretary General Ahmed Aboul Gheit in Cairo today, Reuters reports, citing the state news agency. It remains unclear what the meeting will entail, but it precedes “an urgent gathering of Arab foreign ministers to discuss Iranian actions in the region.” Will the […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Delay of opening the Rafah crossing is because of Egypt
Topping coverage of Egypt in the international press this morning was the Rafah crossing being opened and run by the Palestinian Authority for the first time since 2007. The crossing was opened for a limited period of three days, and Egypt has not yet signalled it will keep the crossing open beyond that, Reuters notes. […]
Posted inEGYPT IN THE NEWS
Egypt’s desire to stay out of military regional conflict could cause frictions with GCC
Egypt has no desire to be dragged into a military conflict or to see regional tensions spiral into another Saudi-Iran proxy battle, Hamza Hendawi writes for The Associated Press. Egypt’s stance comes despite Saudi Arabia and other GCC countries’ expectation that it will have their back as tensions rise with Iran. Hendawi says this reluctance […]
Posted inOn Deadline
!_StoryHed_! The bill seeking to criminalize insulting historical figures must be voted down
A voice of reason: A bill that would make “insulting” historical figures a jailable offense must be recognized as an attempt to stifle freedom of expression and voted down immediately, Dorreya Sharaf El Din says. She takes to the pages of Al Masry Al Youm to call for the bill to be voted down immediately […]
Posted inDiplomacy + Foreign Trade
Kabil to lead delegation of businessmen to Rome soon
Trade and Industry Minister Tarek Kabil will lead a delegation of businessmen to Rome in the near future, according to a ministry statement. Kabil made the announcement without specifying a date after a meeting with Italian ambassador Gianpaolo Cantini.
Posted inDiplomacy + Foreign Trade
Government to increase subsidy for shipping fees to Iraq and Libya by 50%
The Export Development Fund has agreed to increase its subsidy for shipping fees to Iraq and Libya by 50% in a bid to encourage exports to both markets, Trade and Industry Minister announced on Friday, according to Al Borsa.