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Former French culture minister Audrey Azoulay was elected the new head of UNESCO, beating Qatar’s Hamad bin Abdulaziz Al Kawari after a fifth round of voting, Reuters reports. Khattab had exited the running after an earlier head-to-head ballot with Azoulay, who went on to beat the Qatari amid allegations the statelet had engaged in bribery […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Saudi considers delaying in’l offering of Aramco IPO
Saudi Arabia is considering delaying the international tranche of its IPO of Aramco until at least 2019, according to people familiar with the situation. The sources added that the share sale in Riyadh could still happen next year, Bloomberg reports. A two-stage Saudi Aramco IPO is one of several options being considered, while another plan […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inImage of the Day
Asterix cover art sells for EUR 1.4 mn
An original cover illustration of an early edition of the French comic book Asterix sold for EUR 1.4 mn in a Paris auction, according to the Telegraph. The 1965 cover art Asterix and the Banquet, which was part of departed TV producer Pierre Tchernia’s private collection, went for 7x its expected selling price. Another Asterix […]
Posted inEGYPT IN THE NEWS
Egypt in the News on 15 October 2017
It’s a mixed day for Egypt in the international press, with no single story dominating the narrative. E-payments firm Fawry is helping lead the delivery of financial services to the 94 mn unbanked citizens of Egypt, writes Heba Saleh for the FT (paywall). The company’s expanding services is grounded on a combination of demographics, low […]
Posted inOn Deadline
Reforms to bear fruit, interest rates too high -YBG
Rare interview with YBG: Egypt finally took the “bitter medication” of economic reform and it will bear fruit in time, former Finance Minister Youssef Boutros Ghali told Al Shorouk on the sidelines of the IMF and World Bank fall meetings. Egypt’s only solution is to be able to reach economic growth rates of 5% and […]
Posted inWorth reading
The Nile is dying, a BBC report suggests
Some Egyptian fisherman say the Nile’s water is now so toxic, they dare not eat the fish they catch, according to an alarming BBC report by Peter Schwartzstein. Booming populations have dirtied and drained the Nile, while climate change threatens to cut its flow, Schwartzstein writes, as he tracks the Nile from its sources downstream. […]
Posted inDiplomacy + Foreign Trade
Egypt’s ambassador should be expelled over delay in Halawa’s release, former Irish minister says
The Egyptian ambassador to Ireland “should be threatened with expulsion” if Ibrahim Halawa is not released, former Irish Justice Minister Alan Shatter said, according to BBC. Halawa was “acquitted of charges including inciting violence, riot and sabotage last month but remains behind bars.”
Posted inEnergy
Shell’s Andrew Brown discusses company’s ongoing projects with Prime Minister
Shell’s Upstream Director Andrew Brown discussed the company’s ongoing projects in Egypt with Prime Minister Sherif Ismail on Thursday, including the USD 1.6 bn West Delta Deep Marine Phase 9b project and plans to drill 63 wells in the Western Desert, according to a cabinet statement.
Posted inBasic Materials + Commodities
Retail sugar prices to drop soon, gov’t source says
Retail prices of sugar are expected to drop to EGP 8.5-9 from EGP 9.5 per kg, a Supply Ministry . The ministry has a “large surplus” of sugar that should drive the price down once released to the market through state outlets.