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The central bank allocated USD 23 bn to finance foreign trade since the EGP float last November, according to a statement from the Ismail cabinet following a meeting between CBE Governor Tarek Amer and Prime Minister Sherif Ismail on monetary policy. The statement and an official notice from the CBE confirmed CBE Assistant Sub-Governor Rami […]
Author Archives: enterpriseam admin
Posted inSpeed Round
11 dead in apparent suicide bombing in St. Petersburg
Terrorism in Russia? Eleven people were killed and 20 were injured in an explosion in St. Petersburg. The blast in a train carriage was carried out by a suicide bomber, Reuters suggests. The Foreign Ministry issued a statement condemning the incident, stressing that Egypt stands against terrorism in all its forms.
Posted inImage of the Day
Facing turtle slaughtering in Alexandria
Save the turtles: The Environment Ministry and Alexandria Turtle Rescue Team (ATRT) are helping save endangered turtles in the Mediterranean. Walaa Hussein writes for Al Monitor that the good people at ATRT buy the endangered marine animals on the market and release them into the sea. They are also cooperating with the Environmental Affairs Ministry, […]
Posted inEGYPT IN THE NEWS
Trump, El Sisi’s trip is all anyone can talk about
As expected, almost all coverage on Egypt in the foreign press centered on the state visit and its significance as the barometer for the break between the Trump and Obama administrations on the issue of human rights. Perhaps the most interesting (albeit quite antagonistic) commentary on the issue came from The Atlantic, which posits that […]
Posted inWorth watching
Vodafone Egypt launches app for the blind
Vodafone Egypt launched an app on Friday to help blind people get around with their smart phones. The app uses mobile phone cameras and microphones to help identify and read out numbers and colors. The app also can read taxi meters, Vodafone scratch cards and slew of other items. The app is getting widespread attention […]
Posted inDiplomacy + Foreign Trade
Diplomacy + Foreign Trade on 4 April 2017
A delegation from the House Energy Committee is in Russia for several days to discuss bilateral cooperation, Ahram Gate reports. Rosatom had invited the MPs to visit the company’s headquarters in Russia. Five UAE companies presented plans for new investments in Egypt to General Authority for Investment and Free Zones (GAFI) officials at Dubai’s Annual […]
Posted inEnergy
Rosneft in strategic push for Middle East markets
Russia’s Rosneft is expanding a strategic push into Middle East energy markets and its attempts to expand trading after trumpeting agreements in Egypt and Libya, Henry Foy writes for The FT. Foy suggests Rosneft is buying more oil from the region, to replace supplies lost in the dissolution of a joint venture with BP at […]
Posted inEnergy
South Korea in talks to fund USD 35 mn solar power plant in Hurghada
South Korea is in talks to fund a 20 MW solar power plant in Hurghada, The New and Renewable Energy Authority’s Chairman Mohamed Omran tells Al Mal. If approved, the plant would cost USD 35 mn and the project is set to be operational in 2018.
Posted inBasic Materials + Commodities
France’s VICAT Group expresses interest in expanding investments in Egypt
French cement manufacturing company VICAT Group is interested in expanding its projects and investments in Egypt, VICAT chairman and CEO Guy Sidos told Prime Minister Sherif Ismail yesterday, Ahram Gate reports. The company currently owns two cement manufacturing facilities in Egypt.
Posted inBasic Materials + Commodities
Egypt imported 5.5 mn tonnes of wheat from Ukraine in 2016
Egypt bought a total of 5.5 mn tonnes of wheat and 841k tonnes of oilseeds from Ukraine in 2016, UkrAgroConsult reports. An Egyptian delegation visiting Ukraine expressed interest in further grain trade cooperation, provided “permissible levels of ergot and ambrosia seeds in cereal and pulse grains” are satisfied.