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Archaeologists unearth Ancient Egyptian relics in Luxor, Aswan: A team of European and Egyptian archaeologists discovered a 33,000-year-old alabaster statue of King Tutankhamun’s grandmother, Queen Tiye, in Luxor, according to The Sunday Times. The archaeologists reportedly found the statue “by chance” while lifting a colossus of the Boy King’s father, King Amenhotep III. In Aswan, […]
Author Archives: enterpriseam admin
Posted inEGYPT IN THE NEWS
The economic reforms have benefited one kind of trader: the stock broker
Egypt’s economic reforms have benefited one kind of trader: the stock broker. That is the contention of Bloomberg’s Ahmed Feteha, who compares the fate of financial services in Egypt to those of selling fruit and veggies on the streets. Foreign investments in the stock market have led the EGX on a record run in January, […]
Posted inEGYPT IN THE NEWS
Other international stories worth a look this morning
Other international stories worth a look this morning if you have a moment to spare: From USA Today: “Egypt's Jon Stewart tries to rebuild his comedy career in the U.S. It’s hard.” So, perhaps he might stop trying? The postponement of a verdict in the case against Aya Hijazi and the Belady Foundation for Street […]
Posted inWorth reading
Twilight of the rock gods
Twilight of the rock gods: “As rock ‘n’ roll loses its founding megastars—and sales juggernauts—the music industry faces pressure to revamp,” writes the Wall Street Journal in a piece that’s sure to make you feel old. “Of the 25 artists with the highest record sales in the U.S. since 1991, when reliable data first became […]
Posted inDiplomacy + Foreign Trade
Sisi visit to Washington strictly political?
The agenda for President Abdel-Fattah El Sisi’s visit in April to Washington will be purely political, unnamed government sources tell Al Masry Al Youm. It is unlikely that a business delegation will accompany El Sisi on the visit, the sources say, and the newspaper quotes Egypt-U.S. Business Council chairman Omar Mohanna as noting there are […]
Posted inDiplomacy + Foreign Trade
President El Sisi, Sudanese president’s chief of staff reaffirm friendly ties
President El Sisi had met with Taha Al Hussein, chief of staff to the Sudanese president, where they both denounced reports of a squabble between both countries playing out in the media, according to an Ittihadiya statement.
Posted inDiplomacy + Foreign Trade
Egypt has resumed imports of Brazilian meat
Egypt has resumed imports of Brazilian meat, the Agriculture Ministry said in a statement on Saturday picked up by Reuters. The ministry added that the imports would be subject to checks in both Brazil and Egypt. The move comes only a few days after the ministry announced it was suspending all imports of Brazilian mean […]
Posted inEnergy
Emirates NBD, Industrial Development and Workers Bank, AiBK kick combined EGP 520 mn into syndicated facility for EGAS
Emirates NBD, the Industrial Development and Workers Bank of Egypt, and the Arab Investment Bank will provide a combined EGP 520 mn to the Egyptian Natural Gas Holding Company (EGAS), Al Mal reports, as part of an EGP 2 bn facility Banque du Caire is arrangingfor EGAS to pay back debts including to international oil […]
Posted inEnergy
Rockhopper in legal fight with Italy about offshore discovery
Rockhopper, the oil and gas outfit that originated in the Falklands and now has operations in Egypt, Croatia and Italy, is in a legal fight with Italy about an offshore discovery. “The dispute relates to a decision by Italy’s ministry of economic development in February 2016 not to award Rockhopper a production concession covering the […]
Posted inEnergy
Technical studies complete for MIDOR’s USD 1.9 bn second phase expansion
Technical studies for the USD 1.9 bn second phase of Middle East Oil Refinery’s (MIDOR) expansion were completed and funding is being arranged, chairman Mohamed Abdel Aziz says, Al Masry Al Youm reports. The second phase will increase production capacity by 60%. The first phase expansion was concluded in 2016 and increased capacity by 15%, […]