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Newton wants the government to revise lifting subsidies some more: The Al Masry Al Youm columnist writing under the pseudonym Newton thinks the government should rework its schedule for lifting subsidies in light of the inflationary impact of its economic reforms that has not been offset by an increase in wages. The columnist, who may […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
El Sisi meets Mohamed bin Zayed Al Nahyan in Cairo
President Abdel Fattah El Sisi met with Abu Dhabi Crown Prince Mohamed Bin Zayed AlNahyan in Cairo yesterday to discuss efforts to combat terrorism and those who provide terrorist groups with funding and media and political coverage (a not so subtle reference to Qatar and Al Jazeera), according to an Ittihadiya statement. Reuters notes that […]
Posted inDiplomacy + Foreign Trade
35% of Egypt’s furniture exports can go to Nigeria
Nigeria can potentially take in 35% of Egypt’s furniture exports to African countries, said First for Office Furniture company chairman Mahmoud El Shaarawy, according to Al Borsa. This comes after Nigeria lifted a 2005 ban on furniture imports into the country. Egypt’s furniture exports increased by 6% y-o-y in 2016 to USD 369 mn, only […]
Posted inDiplomacy + Foreign Trade
Egyptian MPs reiterate calls to UK to quit supporting the Ikhwan
Egyptian members of the House of Representatives want the UK to extradite Ikhwan members back to Egypt, Ahmed Fouad writes for Al-Monitor. The MPs are using the latest London attacks to try to warn the UK from supporting the Ikhwan. "It is time for the British government to be aware that embracing extremists will not […]
Posted inDiplomacy + Foreign Trade
Egypt welcomes ceasefire by Syrian government in Daraa
Egypt welcomes the Syrian government’s two-day ceasefire in southern city Daraa, says the Foreign Ministry.
Posted inEnergy
Egypt, Iraq to establish joint oil, natural gas companies -Iraqi VP
Iraqi Vice President Ayad Allawi reached an agreement with Egyptian officials to establish joint oil and natural gas companies during a visit to Cairo, Al Masry Al Youm reports. No further details on the agreement were provided. The two countries had signed a one-year agreement in April under which Iraq will sell 12 mn bbl […]
Posted inEnergy
Siemens to connect 400 MW from Burullus plant within days
Siemens will connect 400 MW of power produced at the Burullus power plant to the national grid within days, Deputy Electricity Minister Sabah Mashali tells Al Mal. It brings the total output from Siemens’ three plants to 5.2 GW, from the operation of 12 units. Separately, the Electricity Holding Company is set to pay EUR […]
Posted inEnergy
Qalaa, Edison postpone gov’t negotiations to build EUR 100 mn power plant
Qalaa Holding and Italy’s Edison postponed negotiations with the Electricity Ministry to build a EUR 100 mn power plant in Abu Qir, until the ministry announces new electricity prices in July, Al Borsa reports. The plant, which is expected to produce 180 MW, is co-financed by both companies. Electricity from the project would be sold […]
Posted inEnergy
Production unit from Kuraymat station down, GE fixing it
General Electric is looking for solutions to fix a production unit at the Kuraymat power station that stopped working a few days ago, sources told Al Borsa. A source told Al Borsa the unit is still under warranty and is being sent to the US to be checked. The Egyptian Electricity Holding Company had signed […]
Posted inEnergy
Electricity Ministry decides on winning offer to set up sea cables in Saudi-Egypt electricity connection project
The Electricity Ministry has decided on the winner of a tender to set up a sea cable between Egypt and Saudi Arabia for the two countries’ electricity interconnection project, an unnamed ministry source tells Al Shorouk, without disclosing the winning offer. Alstom, ABB, and Siemens have all applied for the tender.