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Posted inImage of the Day
Global Riders close to completing Cape Town to Cairo bike ride
Jealousy, we are thee: Global bike riding collective Global Riders kicked-off in January an 11-person bike expedition from Cape Town to Cairo. The party, lead by veteran rider Helge Pedersen, has reached Hurghada and is expected to hit Cairo on Saturday. Pederson had led a similar expedition back in 2012 and his images are spectacular […]
Posted inEGYPT IN THE NEWS
El Sisi will always support state actors against non-state ones -Trager
President Abdel Fattah El Sisi has not toed the GCC’s “anti-Iranian line in the region” and is “instead following his own pattern of supporting state actors against non-state actors,” Eric Trager writes for the Washington Institute. Trager says El Sisi views himself as “a strongman combatting those who seek chaos, foremost among them the Muslim […]
Posted inEGYPT IN THE NEWS
Nigeria’s central bank governor is using Egypt’s inflation rate, which surpassed 30% in February
Egypt as economic boogeyman: Nigeria’s central bank governor Godwin Emefiele is using Egypt’s inflation rate, which surpassed 30% year-on-year in February, to justify not adopting a free float of the naira. According to Reuters, he said, “I have heard commentators suggest we should follow Egypt's example and free the naira … What they do not […]
Posted inDiplomacy + Foreign Trade
Beecroft meets with shipping company reps in Port Said
US Ambassador Stephen Beecroft visited Port Said over the weekend to meet with Egyptian shipping company representatives regarding recurrent transits of the canal by US vessels. “The Suez Canal is a vital waterway that is crucial to the global economy and regional and international security … I am pleased to be here and to see […]
Posted inEnergy
EGAS natural gas imports down since start of 2017 thanks to higher output, lower consumption
EGAS has cut its imports of natural gas imports to five monthly shipments (equivalent to 700 mcf/d) from eight (800 mcf/d) since the beginning of 2017 thanks to rising domestic production and lower consumption, Al Borsa reports. Imports will rise again to 1.4 bcf/d in May when summertime demand kicks in, according to a top […]
Posted inEnergy
Electricity Ministry to bring new power lines and water-powered station online by September
The Electricity Ministry will bring some 800 km of power lines and associated distribution infrastructure worth a combined EGP 4 bn by September when Elsewedy Electric and Saudi’s NCC Ltd. complete work in Upper Egypt, a top ministry official tell Al Borsa. The 500 KV lines will run parallel to the main line that runs […]
Posted inEnergy
Nuclear Power Plants Authority submits final list of 20 companies taking part in Daba’a
The Nuclear Power Plants Authority (NPPA) has submitted to Rosatom on Saturday its official list of 20 Egyptian companies qualified to work on the building of the Daba’a nuclear power plant, Al Borsa reports. As we’ve noted previously, the list includes Orascom Construction, Elsewedy Electric, Hassan Allam, Petrojet, and Arab Contractors.
Posted inEnergy
Commercial operations at new capital combined cycle plant to begin at the end of March
Siemens will begin commercial operations at the new capital combined cycle power plant at the end of the month, Orascom Construction’s quality control manager Maged Kamal said. Two turbines of the power plant, which have been currently operating on a trial run, will be fully operational by the end of March and will bring the […]
Posted inBasic Materials + Commodities
Wheat reserves to double after local harvest
Egypt’s wheat reserves currently stand at over three mn tonnes and are set to double with the start of the local wheat harvest season in April, Reuters reported, citing a Supply Ministry statement. The current wheat reserve level is enough to last at least four months, the statement said, adding that stocks of vegetable oils […]