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A strategic partnership between Egypt, Iraq, and Jordan could extend oil and gas pipelines from Iraq's Al-Basra Oil Terminal to Jordan, through the Port of Aqaba port and on to Egypt, said Iraq’s ambassador to Egypt Habib Al Sadr on Monday. The proposal is part of a string of agreements which include Iraq sending its […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt can produce 90 GW of electricity from renewable sources -Shaker
Egypt has the capacity to produce 90 GW of electricity from renewable sources, Electricity Minister Mohamed Shaker said, according Al Borsa reported. Egypt has the largest capacity in the MENA region in wind energy, Shaker says, that generate an output of 30 GW. He also added that Egypt can produce 60 GW from solar energy.
Posted inEnergy
Chile’s ENAP Sipetrol looking to expand investments in Egypt
Chile’s state-owned ENAP Sipetrol is looking to expand its investments in Egypt, company board member Marcelo Tokman said after meeting with Oil Minister Tarek El Molla yesterday, Al Ahram reports. Tokman did not provide any details or figures on ENAP Sipetrol’s plans.
Posted inEnergy
Qalaa’s ERC in talks with Aramco, Shell over fuel imports
Qalaa Holdings subsidiary Egyptian Refining Company (ERC) is in talks with Saudi Aramco, Kuwait National Petroleum Company and Shell to import an additional 1.2 mn tonnes of feedstock needed for its operations at USD 3.7 bn refinery in Mostorod, ERC’s Managing Director Mohamed Saad tells Youm7.
Posted inBasic Materials + Commodities
Increasing cotton area under cultivation on Agriculture Ministry’s agenda
The Agriculture Ministry is looking to increase the areas where cotton is grown to 250K feddans this season from 131K feddans last season, Cotton Research Institute chairman Adel Abdel Azim told Al Borsa. The ministry’s policies had reportedly resulted in reducing the area of land producing cotton last year following a ban on all but […]
Posted inTourism
Sherif Ismail approves establishing High Council for Tourism Promotion
Prime Minister Sherif Ismail approved yesterday establishing the High Council for Tourism Promotion, which will be handling the government’s tourism promotions strategy. The council will be comprised of the ministers of tourism and civil aviation, as well as the governors of the Red Sea, Luxor, and South Sinai, Al Borsa reports. The council’s first order […]
Posted inTelecoms + ICT
TE to receive 4G spectrum by mid-year, will sign domestic roaming agreement within days -Gadalla
Telecom Egypt (TE) expects to receive its 4G spectrum from the National Telecom Regulatory Authority (NTRA) by the end of 2Q17, CEO Tamer Gadalla told Al Shorouk. Once TE receives the spectrum, he says, the company will begin testing its 4G services. Gadalla added that TE is in “advanced stages” of negotiations with one of […]
Posted inAutomotive + Transportation
Uber partners with Rawaj, Altibbi for car financial lease, health
Uber has partnered with Rawaj Auto Loan and Altibbi to provide car leasing and health services, respectively, to its drivers, the companies announced at a press conference. The partnership with Rawaj aims at covering 30% of Uber drivers by end of 2017 with a five-year payment plan and the lowest down payment in the market, […]
Posted inAutomotive + Transportation
Agreement signed allowing Sudan to import cars from Libya via Egypt
Sudan will be allowed to import cars (presumably used) via Egypt after the three countries signed an agreement allowing for the trade, All Africa reports, citing a Libyan news agency. The cars will be allowed to pass through Egypt after paying a crossing fee of EGP 12,000. The vehicles previously used to go through “Masaad […]
Posted inOther Business News of Note
AIG to suspend retail insurance activities in Egypt
American International Group (AIG) decided on Sunday to suspend sales of its auto, personal property, and home insurance products in Egypt effective from the beginning of April and will “restructure its operations” in the coming period, Al Borsa reports. Current policies will not be impacted by the decision.