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Ireland’s Foreign Affairs and Trade Minister Charlie Flanagan has expressed his "deep disappointment" after the case involving Irish citizen Ibrahim Halawa was adjourned for the 19th time yesterday. Flanagan said that despite the setback, the judges have "indicated a clear desire to move this case forward," according to the Irish Independent. The Belfast Telegraph, Irish […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egyptian Exporters Association signs export agreement with Kenya for 20 meds
The Egyptian Exporters Association signed an agreement with Kenya’s Health Minister to export 20 meds, including hepatitis C treatments, to Kenya, Al Borsa reports. The agreement came during an Egyptian business delegation’s visit to Nairobi, which also saw the signing of agreements for Egypt to import Kenyan livestock and establish its first logistics hub in […]
Posted inEnergy
Local refineries operating at 70% capacity
Egyptian refineries are operating at only 70% capacity due to shortages in inputs and a decrease in the efficiency of the refineries, an unnamed official at EGPC told Al Mal. The refineries currently produce around 26.5 mn tonnes per annum while their capacity is 38 mn tonnes, the official added. The story then goes on […]
Posted inEnergy
Feed-in tariff phase two companies to discuss payment schedule, raising FiT with Electricity Ministry
Renewable energy companies in the second phase of the feed-in tariff program are set to discuss the payment schedule for the companies’ projects, and the exchange rate at which the companies will be paid, at a meeting with the Electricity Ministry next week, sources from the ministry tell Al Borsa. The two sides might also […]
Posted inBasic Materials + Commodities
Eastern Company says PMI owes it USD 78.2 mn
The Eastern Company for tobacco said it is owed USD 78.2 mn from Philip Morris International (PMI) for manufacturing in 1Q2016-17 as well as EGP 33.5 mn in sales tax due for 1H2016-17, according to Al Mal. Eastern Company says it paid taxes on behalf of PMI but was not reimbursed for it, and is […]
Posted inBasic Materials + Commodities
Egypt issues first cooking oil tender in 2017
State commodities buyer General Authority for Supply Commodities (GASC) has issued a tender to buy soybean oil for 30 March delivery, according to Black Sea Grain. The deadline for bids is 15 February. The website says this is Egypt’s first vegoil tender this year.
Posted inBasic Materials + Commodities
Finance Ministry promises food industries division to lift VAT on unprocessed cooking oil
The Finance Ministry has promised the food products division of the Federation of Egyptian Industries that it will lift the value-added tax on unprocessed cooking oil, and will take the necessary legal steps to make the oil VAT-exempt, division head Ashraf El Gazayerli tells Al Masry Al Youm.
Posted inHealth + Education
Egypt-Japan University allocates EGP 5 bn for Alexandria expansion
The Egypt-Japan University of Science and Technology has allocated EGP 5 bn until 2021 to build its branch in Alexandria, Al Borsa reported. The first phase of the university’s branch will be completed by the end of the year at a cost of EGP 2.5 bn, with the remainder slated for completion in 2021.
Posted inEgypt Politics + Economics
Finance Ministry earmarks EGP 500 mn for supply commodities
The Finance Ministry has earmarked an additional EGP 500 mn for supply commodities and bread points to offset rising costs from the EGP float in November, Deputy Finance Minister Mohamed Maait told Al Mal. The increase brings the total allocated funds towards supply commodities up to EGP 2.2 bn from EGP 1.7 bn, he says, […]
Posted inNational Security
Egyptian hostages in Libya released
Thirteen Egyptians kidnapped in Ajdabiya, Libya were released yesterday, the Egypt’s military spokesman, Tamer El Rifai, announced, according to Al Arabiya. El Rifai said the kidnapped were released in coordination with the General Command of the Libyan army and added that preparations were finalized for their return to Egypt.