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Six Egyptians are reportedly among the estimated 76 people missing in the fire that engulfed London’s Grenfell Tower last week, according to UK Metro News. Rania Ibrahim and her two children are believed to still be missing after being trapped in the 23rd floor. She had posted to Facebook Live her ordeal and police had […]
Author Archives: enterpriseam admin
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
20th century archaeologist finds Ancient Egyptian treasures in modern-day Sudan
“The city of Meroë lay undiscovered for two millennia before British archaeologist John Garstang excavated it in the early 20th century – and created some of the first ever photographs of ancient Egypt’s treasures.” Check out the photo essay in the Guardian. (Photo credit: Garstang Museum of Archaeology).
Posted inEGYPT IN THE NEWS
USD 575 mn GE agreement, death sentences in Hisham Barakat case top coverage
Leading coverage of Egypt in the foreign press this morning is (at long last) aneconomic story: GE’s USD 575 mn agreement to supply Egypt with locomotives. By far the most interesting coverage is coming from Bloomberg’s Deena Kamel, which places the agreement in the wider context of GE’s expansion in the region, including in Turkey […]
Posted inWorth watching
We expect to hear from the IMF on the second tranche in a few weeks’ time
We should expect to hear from the IMF’s Executive Board in a few weeks’ time on signing off on the second USD 1.25 bn tranche of Egypt’s USD 12 bn extended fund facility, Finance Minister Amr El Garhy hinted in a CNBC interview (runtime: 2:59) on the sidelines of the Asian Infrastructure Investment Bank's second […]
Posted inDiplomacy + Foreign Trade
Sahar Nasr meets World Bank delegation to discuss Egypt’s development strategy
Investment and International Cooperation Minister Sahar Nasr met on Friday with a WorldBank delegation to discuss efforts to improve Egypt’s business climate, according to a ministry statement (pdf). The bank is scheduled to issue a report in September on developments in several sectors in Egypt, including education, health, and transportation, according to the statement. The […]
Posted inDiplomacy + Foreign Trade
El Sisi, CIA Director discuss security cooperation in Cairo
President Abdel Fattah El Sisi met with CIA Director Mike Pompeo in Cairo on Thursday for talks on the Qatar blockade and fighting terrorism, Ahram Online reports.
Posted inEnergy
Echo Energy sells 25% stake in East Ghazalat to partner Nostra Terra
Echo Energy is selling its 25% stake in the East Ghazalat concession to its partner Nostra Terra Oil & Gas for USD 500k, Proactive Investors reports. USD 100k will be paid after EGPC approves the sale, with the rest paid in two USD 200k tranches. “This acquisition represents a significant milestone for Nostra Terra, as […]
Posted inEnergy
Agiba commissions Enppi for EPC work on Meliha
Eni JV Agiba has commissioned Enppi to develop crude oil shipping systems from its Meliha field in the Western Desert, Al Mal reports. Enppi will provide engineering, procurement, and construction works for pumps on the field. A source says the project will be completed within nine months, but did not provide information on the value […]
Posted inManufacturing
Pyramids Tires to launch USD 350 mn tire factory in Port Said
Pyramids Tires broke ground on a USD 350 mn tire factory in Port Said, Youm7 reports. The plant should be complete within four or five years, with the first phase of set to come online towards the end of 2018with c. USD 75 mn in investments, according to owner Ibrahim Gouda.