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HIGHLIGHTS from the Euromoney conference: Speakers on the opening day of the conference yesterday included SODIC Managing Director Magued Sherif, who discussed the continued rally of the real estate market in a panel discussion on the sector (pdf). Sherif pointed to Egypt’s demographics as spurring further property development despite a 40% increase in costs following […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Salah Diab acquitted of unlicensed firearms possession charges
Salah Diab acquitted of unlicensed firearms possession charges: Salah Diab, founder of PICO Group and Al Masry Al Youm newspaper, and his son Tawfik were acquitted of charges of possession of unlicensed firearms by a Cairo criminal court on Monday, according to Ahram Online. The business community was stunned back in November 2015 when Salah […]
Posted inSpeed Round
Int’l news worth noting
International stories worth noting in brief this morning include: Saudi Arabia looks set to raise petrol prices by as much as 80% by November at the latest, Bloomberg reports. Goodbye, gravy train. KSA is also reportedly seeking bids for a 1,600 km rail line linking its Red Sea coast to its Eastern shores. It’s not […]
Posted inSpeed Round
Enterprise is hiring
*** COME WORK WITH US: We’re looking for bright, talented analysts and writers to join our team to work on the current Enterprise Morning Edition and new products we have in the pipeline. You’re likely an equities / macro / research analyst, IR professional or journalist, but we’re less interested in your formal education than […]
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 inEGYPT IN THE NEWS
Halawa acquitted of all charges, to be released “within days”
Let’s hope this is laid to rest for good: Leading the conversation on Egypt in the foreign press this morning is Irish citizen Ibrahim Halawa’s acquittal. He and his three sisters were cleared of all charges yesterday, Reuters reports. Halawa, who spent four years in jail pending a verdict, is expected to be released within […]
Posted inDiplomacy + Foreign Trade
Recap of El Sisi’s UN meetings in New York
President Abdel Fattah El Sisi met in New York yesterday with a number of world leaders, holding one-on-one meetings with UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan (pdf) and Saudi Arabia’s US Ambassador Prince Khaled Bin Salman (pdf) to talk regional and Arab affairs — where the Qatar smackdown featured heavily. He also […]
Posted inDiplomacy + Foreign Trade
EIB to fund more projects in Egypt under Economic Resilience Initiative
The European Investment Bank (EIB) is looking forward to funding more projects in Egypt under its Economic Resilience Initiative, which aims to raise EUR 4.5 bn in additional financing for southern Mediterranean countries, bank Vice President Dario Scannapieco tells Daily News Egypt in an interview. Scannapieco also discussed the EUR 400 mn in MoUs he […]
Posted inEnergy
TransGlobe well-positioned for growth in Egypt, CEO says
TransGlobe will be developing new oil fields in Egypt’s Eastern Desert along with a field in the Western Desert, TransGlobe Energy CEO Ross Clarkson tells Proactive Investors Stocktube (runtime: 5:15). The company has five production sharing contracts in Egypt producing 13,300 bpd of oil, Clarkson says. He says issues regarding receivables were resolved “about two […]
Posted inEnergy
Egypt targets importing LNG cargoes worth USD 1.8 bn in FY2017-18
Egypt has budgeted to import LNG cargoes worth USD 1.8 bn in FY2017-18, Oil Minister Tarek El Molla said yesterday, Reuters’ Arabic service reports. El Molla had said last month that Egypt would buy 80 LNG cargoes in FY2017-18. An increase in local production had driven last fiscal year’s LNG purchases down to 118 cargoes […]