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The conditions of the USD 12 bn IMF loan failed to address the Egyptian military’s control of the country’s economy and instead focused on squeezing the middle and lower classes through subsidy cuts and other key reforms, Zeinab Abul-Magd writes for the rag known as Foreign Policy. Extremists have issued 3,000 ‘fatwas’ encouraging the destruction […]
Author Archives: enterpriseam admin
Posted inOn Deadline
Dear Egyptian media: Don’t overplay Sisi’s visit to Washington
Dear Egyptian media: Don’t overplay Sisi’s visit to Washington. While President Abdel Fattah El Sisi’s trip to the White House is certainly an important political step for Egypt — particularly considering the tension in our ties with the US since 2013 — there is no need to go overboard and make an international laughing stock […]
Posted inDiplomacy + Foreign Trade
Diplomacy and foreign trade on 2 April 2017
A US Department of Agriculture-led business delegation will be in Cairo today looking for opportunities to boost food and agricultural exports to the MENA region, AG Net reports. Meanwhile, a delegation from the Food Export Council is heading to Kenya today for six days to promote Egyptian products. A delegation of African companies is set […]
Posted inEnergy
This is why companies are bullish on Egypt’s natural gas
Egypt represents an exciting opportunity and a “potentially rewarding investment” for oil and gas companies, Heidi Vella writes in an Offshore Technology piece. Factors include local talent, growing demand for gas in the country, the presence of local Egyptian service companies, not to mention diminishing resources elsewhere. "The advantage that Egypt has over other new […]
Posted inEnergy
Fajr Egypt to sign LNG supply agreement with Jordan’s NEPCO
Fajr Egypt is preparing to sign an agreement with Jordan’s National Electric Power Company to supply 70 mcf/d of LNG to Jordanian industries, and is conducting the necessary studies in cooperation with Egypt Gas, Fajr Egypt President Ahmed Mahmoud said, according Al Shorouk. The company is also studying establishing a network of gas stations in […]
Posted inEnergy
Tarek El Molla meets with Apache CEO
Oil Minister Tarek El Molla met with Apache CEO John Christmann to discuss expanding the company’s exploration projects in Egypt, Al Mal reports. The two also discussed Apache’s efforts to increase output from its existing projects.
Posted inEnergy
Electricity Ministry pushes window for Hamrawein coal station offers to May
The Electricity Ministry has pushed the window for receiving offers for the Hamrawein coal-powered electrical station to May to allow more companies to time to apply, a top ministry official tells AMAY.
Posted inInfrastructure
Gov’t approves Maspero Triangle development plan
The Supreme Council of Planning and Urban Development approved yesterday implementing the Maspero Triangle development project, which will cost an estimated EGP 4 bn, Al Shorouk reports. The council, headed by Prime Minister Sherif Ismail, also sanctioned compensations for the area’s current residents, including being relocated inside or outside the area, or receiving monetary compensation. […]
Posted inBasic Materials + Commodities
SFII looking to increase exports to Brazil
Egypt-based Special Foods Industry International (SFII) is looking to increase exports to Brazil, according to the Brazil-Arab News Agency. “We hope to find direct, middlemen-free contacts in Brazil, so we’re here to see the potential,” SFII Managing Director Yomna El Sheridy says. SFII produces food items including olives, pepper, pickles, artichokes, and sundried tomatoes, but […]
Posted inBasic Materials + Commodities
6 EGP bn lost as 12% of cigarettes in Egypt are smuggled -PMI Egypt
Smuggled cigarettes cost the treasury over EGP 6 bn in unearned revenue, Philip Morris International-Egypt (PMI) said in a statement, according to Al Borsa. The volume of smuggled and unlicensed cigarettes in Egypt account over 12% of all those consumed, PMI explained. Al Borsa notes that local manufacturer Eastern Company targets bringing EGP 49.7 bn […]