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On a slow morning for Egypt in the foreign press, coverage of life sentences handed down to43 protesters in their retrial for clashing with authorities in December 2011, led the conversation on Egypt. The defendants had been charged with rioting, vandalism and attacking security forces. They also received a collective fine of EGP 17 mn […]
Author Archives: enterpriseam admin
Posted inOn Deadline
Next year’s presidential elections are on opinion writers’ minds
Next year’s presidential elections seem to be on the minds of the country’s opinion writers this week, including Al Shorouk’s Mohamed Esmat, who points out that we should now be in the middle of a heated run-up to the election season but instead have no idea who will actually be throwing their hats in the […]
Posted inWorth watching
FRONTLINE - Murder, Money, And Mexico
FRONTLINE - Murder, Money, And Mexico: We return with another excellent documentary from the good people at Frontline on the rise and fall of economic reformer and the former Mexican president Carlos Salinas and the kleptocracy he presided over with his brother Raul Salinas. Carlos Salinas had ruled Mexico from 1988-1994 on a platform to […]
Posted inDiplomacy + Foreign Trade
Afreximbank, SCZone heads discuss establishing African investment zone
Suez Canal Economic Zone (SCZone) head Mohab Mamish met yesterday with Afreximbank President Benedict Oramah to discuss establishing an African investment zone in the SCZone, Al Shorouk reports. The new area would import raw materials from Africa and re-export them to Europe and Asia. Oramah said the bank is prepared to offer Egypt funding to […]
Posted inEnergy
Four companies bidding on 250 MW wind farm in Gulf of Suez
Four companies remain in the running for developing the 250 MW wind farm in the Gulf of Suez. Vestas, Siemens, Enercon, and Ray Power were the remaining bidders after a consortium made up of Power China and Goldenwind was eliminated from the race, Al Borsa reports. The bidding companies are scheduled to submit their technical […]
Posted inBasic Materials + Commodities
Drop in demand, purchasing power drives food companies to spend more on marketing
The drop in consumer demand and purchasing power due to rising prices is causing food and beverage producers to increase spending on marketing and advertising in order to preserve their market shares, according to a report in Al Borsa. Overall demand for food and beverage is down 20-40% y-o-y in 1Q2017, sector analyst Omneya El […]
Posted inBasic Materials + Commodities
Chemicals and fertilizers exports up 36% y-o-y in 1H2017
Exports of chemicals and fertilizers increased 36% y-o-y to USD 2.07 bn in 1H2017, the Chemicals and Fertilizers Export Council announced, according to Al Shorouk. Exports of plastic and rubber products led the way with USD 662.9 mn, up 18% y-o-y in 1H2017. Fertilizers were the second best performer, with their exports increasing 71% y-o-y […]
Posted inBasic Materials + Commodities
Rice export ban drives down prices
Rice prices dropped EGP 600 to EGP 3,900 per tonne due to the ban on rice exports currently in place, a Supply Ministry source tells Al Shorouk. The ban, in combination with efforts to curb smuggling, has increased rice supply in the market, driving down prices, according to the source. The government had decided earlier […]
Posted inBasic Materials + Commodities
Eastern Company sees sales up by EGP 300 mn in FY2017-18
The Eastern Tobacco Company expects to see its revenues climb by additional EGP 300 mn to EGP 12.2 bn in FY2017-18 following the recent hike in some of its product prices, the company said in an EGX filing. Earlier this month, Eastern Company had increased the prices for three of its Cleopatra cigarettes by 4.2-17.6% […]
Posted inBasic Materials + Commodities
GASC submits tender for wheat
The General Authority for Supply Commodities (GASC) bought 420K tonnes of wheat on Tuesday, according Al Masry Al Youm. 300k tonnes of Russian wheat were bought, with the rest coming from the Ukraine and Romania.