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Her Majesty Queen Elizabeth’s government has denied it provides assistance to the British University in Egypt after the chairman — Oriental Weavers founder Mohammed Farid Khamis — was allegedly found punting The Protocols of the Elders of Zion, claims The Algemeiner. The British government had to clarify its position on the matter after an anti-Semitism […]
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
Other international news worth noting
Other headlines worth a brief glimpse this morning include: “Reducing Egypt's debts to foreign oil companies is part of petroleum minister Molla's strategy to attract further energy investment,” says Petroleum Economist (paywall). The City Always Wins is receiving yet another glowing write-up, this time on the salmon-colored pages of the Financial Times. Two years since […]
Posted inOn Deadline
We need to stop going all Karl Marx whenever we hit an economic bump in the road
Finally, an opinion piece that said it: We need to stop going all Karl Marx whenever we hit an economic bump in the road, writes economist Medhat Nafie for Al Shorouk. Reading past his insanely long econ lesson and love note to capitalism, Nafie makes the point that Egyptians need to stop calling for restrictive […]
Posted inDiplomacy + Foreign Trade
Netanyahu not bothered with lack of diplomatic presence in Cairo, says security ties more important
Who needs an embassy anyway? Israel’s Prime Minister Benjamin Netanyahu is content with just having security ties with Egypt and not full civilian and diplomatic relations through an embassy, despite concerns from some officials, Times of Israel reports. “Israel pulled out Ambassador David Govrin and all of the embassy staff at the end of last […]
Posted inDiplomacy + Foreign Trade
Fatah denies President El Sisi offered unity agreement with Hamas
West Bank faction Fatah denied that President Abdel Fattah El Sisi brokered a Palestinian unity agreement between it and Gaza rivals Hamas, Arutz Sheva reports. Nothing new came out of meetings between Fatah leader and Palestinian Authority President Mahmoud Abbas and El Sisi, according to Fatah Central Committee member Azzam Al Ahmad, who had been […]
Posted inDiplomacy + Foreign Trade
Sisi talks cooperation with Cypriot counterpart
President Abdel Fattah El Sisi talked cooperation with Cypriot president Nicos Anastasiades on the phone yesterday,according to Al Masry Al Youm.
Posted inEnergy
More details on ACWA project in the south
The three solar power plants that Saudi’s ACWA Power will build in Aswan will cost around USD 190 mn, reports The National. ACWA signed power purchase agreements for the project with the Egyptian Electricity Transmission Company on Monday under phase two of the feed-in tariff program. The European Bank for Reconstruction and Development will supply […]
Posted inEnergy
SkyPower to invest USD 500 mn in solar power projects
Canada’s SkyPower will receive 14 square km of land to build USD 500 mn worth of solar power projects producing 600 MW, New and Renewable Energy Authority (NREA) head Mohamed El Khayat tells Al Borsa. The Egyptian Electricity Transmission Company will sign a power purchase agreement with SkyPower once the company reaches financial close on […]
Posted inEnergy
EGP float drives fuel subsidy spending up 135.3% y-o-y
The EGP float has driven fuel subsidy costs up by 135.3% y-o-y, Oil Minister Tarek El Molla tells Reuters. Fuel subsidy costs increased to EGP 120 bn in FY 2016-17 from the EGP 51 bn spent in FY 2015-16. The government is projecting that spending on fuel subsidies will record EGP 110 bn in FY […]
Posted inInfrastructure
Irrigation Ministry working on investment map for 2037 water strategy
The Irrigation Ministry has begun preparing a list of potential investment projects for its national water resources strategy for 2037, a ministry source tells Al Borsa. The strategy, which was developed in collaboration and with funding from the EU, seeks to more efficiently utilize Egypt’s water resources in order to prevent a future shortage.