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No, this is not a biometric scanner for the signing of state-level agreements: This image of President Abdel Fattah El Sisi, Saudi King Salman, and US President Donald Trump at the inauguration of a new center to monitor extremism is going viral on El Face and Tweeter — and it has very little to do […]
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
Electricity shortage is the challenge facing the Middle East that does not involve guns
Sisi-Trump meeting in Riyadh dominates international coverage of Egypt this morning: Pickups of wire service stories and the odd hot take on US President Donald Trump’s meeting with President Abdel Fattah El Sisi in Riyadh yesterday are leading international coverage of Omm El Donia this morning. US media have noted Trump’s support for Egypt and […]
Posted inOn Deadline
Mohammed bin Salman’s ascent to power given credibility boost at Riyadh Summit
Saudi Deputy Crown Prince Mohammed bin Salman’s (MbS) ascent to power was highlighted at the Arab-Islamic-American Summit, Alaa Al Ghatreefy writes in a column penned for Al Masry Al Youm. MbS’ diplomatic efforts two months ago paved the way for KSA to sign USD 460 mn worth of agreements with the US, which in turn […]
Posted inWorth watching
Italian engineers want to make an espresso-making smartphone case
Scientists have yet to invent an IV coffee drip, but we may soon be able to make espresso from a smartphone case. Conceptualized by two Italians, Mokase “aims to make smartphones portable baristas,” The Culture Trip says. The engineers behind Mokase say a silicon aluminum tube is used to heat up a disposable packet of […]
Posted inDiplomacy + Foreign Trade
Ethiopia rejected Egypt’s pre-conditions to rejoin NBI, sources say
Ethiopia has rejected Egypt’s “pre-conditions” for rejoining the Nile Basin Initiative (NBI), the country’s Water, Irrigation, and Electricity Ministry said. The planned NBI meeting to discuss Egypt joining the initiative, suggested by the President of Uganda, “was postponed at least for one more month upon the request of the Ethiopian government because of the so-called […]
Posted inEnergy
Egypt makes payment to Dana Gas covering 25% of what it is owed
Egypt has made payments covering 25% of the arrears owed to Dana Gas, the company said in disclosures to the ADX. Dana Gas received a USD 50 mn payment from the Egyptian government, according to a regulatory filing. The company had also received another payment of USD 20 mn in EGP-equivalent, it said. It is […]
Posted inEnergy
Electricity Ministry puts Siemens wind farm plans on hold to negotiate a lower feed-in tariff
The Electricity Ministry has put plans to build a 2 GW wind farm on hold pending further negotiations with Siemens to lower the feed-in tariff to around USD 0.04 per kilowatt from a current EUR 0.053 (USD 0.0593), Al Borsa said on Sunday. The ministry has set lowering the tariff as a condition for it […]
Posted inInfrastructure
Al Nozha airport renovations to conclude within a month
Renovations to the Al Nozha Airport in Alexandria are expected to wrap up within a month, an unnamed source from the Egyptian Holding Company for Airports and Air Navigation tells Al Mal. According to the source, it was “illogical” to halt the EGP 380 mn renovation project after President Abdel Fattah El Sisi announced the […]
Posted inInfrastructure
Red Sea Ports Authority to re-issue tender for multi-purpose station in Safaga
The Red Sea Ports Authority is planning to re-issue a tender for a USD 250 mn multi-purpose station at the Safaga Port, authority chairman Hesham Abou Senna tells Al Mal. The station will handle 1.2 mn containers and 1.5 mn tonnes, to be increased to 3 mn tonnes, of general goods per annum, Abou Senna […]
Posted inReal Estate + Housing
TMG drops EGP 1.8 bn lawsuit against NUCA
Talaat Moustafa Group (TMG) says it has dropped the court case filed against the New Urban Communities Authority (NUCA), Al Mal reports. TMG had filed a case seeking an EGP 1.8 bn from NUCA for infrastructure works at the Madinaty project, saying NUCA has not reimbursed the company. TMG says a committee was formed to […]