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The EU’s 2017-2022 framework for financial and technical cooperation with Egypt will focus on youth and women empowerment, the European Commission announced in a release. The framework, which EU Regional Policy Commissioner Johannes Hahn signed on Sunday, will see Egypt receive EUR 432-528 mn of assistance over the next three years. 40% of the total […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Payment and settlements system agreement with COMESA central banks comes into effect
Payment and settlements system agreement with COMESA central banks comes into effect: The regional payment and settlements system agreement between COMESA central banks has come into effect, CBE Foreign Trade Director Yousri Abdel Rahman said yesterday, Al Mal reports. The agreement aims to encourage export/import activities by providing “a single gateway for central banks within […]
Posted inDiplomacy + Foreign Trade
AIIB looking to fund infrastructure projects in industrial zones
AIIB looking to fund infrastructure projects in industrial zones: The Asian Infrastructure Investment Bank is looking to sign an agreement with the Industrial Development Authority to offer funding for infrastructure projects in industrial zones, Trade and Industry Minister Tarek Kabil said yesterday, following a meeting with a bank official, according to Al Mal.
Posted inBasic Materials + Commodities
Brazilian meat importers halt contracts
Importers of Brazilian meat have had their contracts on hold since the start of October due to an increase in global prices and decrease in local ones,according to Al Borsa. Brazilian meat rose by as much as USD 150 per tonne during October.
Posted inTourism
New Ras Al Hikma City in the works
The government is looking to build a New Ras Al Hikma City on the North Coast,sources tell Al Borsa. The 150 mn sqm city will be centered on tourism and is intended to complement the new Al Alamein City. Planned projects include resorts and an international marina to serve the city, they add.
Posted inAutomotive + Transportation
Bombardier to submit studies, designs for Cairo Metro’s Line 6 early next year
Canada’s Bombardier is expected to present the results of the feasibility studies and its design plans for the Cairo Metro Line 6 in January 2018, Transport Minister Hisham Arafat said, Al Borsa reports. Bombardier will also present a financial offer for the project early next year, according to Arafat. The National Tunnels Authority had signed […]
Posted inBanking + Finance
NBE in talks to renew, increase borrowing from international institutions to USD 600 mn
The National Bank of Egypt (NBE) is in talks with a consortium of international financiers to renew and increase a loan to it to USD 600 mn, sources told Al Mal. The consortium, which is led by the European Bank for Reconstruction and Development, had extended NBE a USD 390 mn loan three years ago […]
Posted inLegislation + Policy
House committees discuss media regulation bill, strategy to curb terrorism
The House of Representatives’ media, legislative, and budgeting committees began yesterday discussing the draft media regulation bill, approving four of the legislation’s five articles, Ahram Gate reports. Meanwhile, the House Defense Committee is gearing up to discuss ways to curb terrorism through security, media, economic, and legislative measures alongside representatives from the Interior Ministry and […]
Posted inEgypt Politics + Economics
55% of Egyptians satisfied with state of affairs of the country
55% of Egyptians are satisfied with the economic, political, and social state of affairs in the country, according to the latest poll from the Egyptian Center for Public Opinion Research (Baseera). The poll examined people’s reactions to 29 different variables including the prices of goods, income levels, availability of fuel and power, social justice, and […]
Posted inNational Security
Gunfire from Sinai hits Israeli soldiers across the border
The Israeli military says people opened fired on an “IDF force that was engaged in operational activity near the security fence along the Egyptian border,” according to Arutz Sheva. The paper says there were no injuries among the soldiers, but a military vehicle sustained light damage. Israel’s military says it believes the incident is spillover […]