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Bassem Youssef corrals white liberals: Political orphan and late night comedy refugee Bassem Youssef is up to his usual shenanigans on his show Democracy Handbook (urgh). Still fresh off his high from his inflated role in toppling Morsi, Youssef has now taken on Trump, and from the looks of it, the latter might win reelection […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Foreign Minister Sameh Shoukry in Jordan for talks with King Abdullah II
Foreign Minister Sameh Shoukry is in Jordan to meet with Jordanian King Abdullah II and his counterpart Ayman Al-Safadi and Prime Minister Hany Mulki, Ahram Online reported. Shoukry is set to discuss preparations for the Arab League Summit, regional issues, particularly the Israeli-Palestinian conflict.
Posted inEnergy
MIDOR raises refining capacity by 15%
MIDOR has raised its daily refining capacity by 15% to 115k bbl in January 2017, an unnamed official at the company told Reuters. The increase is attributed to the USD 20 mn first phase of the company’s expansion plan, he added. The second phase begins in 2H2017 to raise the daily capacity to 160k bbl, […]
Posted inEnergy
EGEMAC to supply EGP 350 mn machinery for two transformer stations
The Egyptian Electricity Transmission Company has contracted the Egyptian German Electrical Manufacturing Company (EGEMAC) to supply machinery for two transformer stations in Sharm El Sheikh and Hurghada at a total cost of EGP 350 mn, EGEMAC Chairman Medhat Ramadan told Al Borsa. The project will be completed within 12 months, he added. The company is […]
Posted inInfrastructure
Armed Forces cancel construction of two railway tunnels under Suez Canal
The Armed Forces have scrapped a project that would have seen the construction of two railway tunnels under the Suez Canal due to the rising cost of digging the tunnels, Kamel El Wazeer, the head of the Armed Forces Engineering Authority, told Al Mal. According to El Wazeer, each kilometer dug for the tunnels would […]
Posted inBasic Materials + Commodities
House wheat committee objects to using coops, pushes for higher prices
The House of Representatives committee formed to investigate last year’s wheat scandal (it’s still around) is objecting to the use of agriculture cooperatives to collect this season’s wheat harvest, said committee member Yasser Omar. He tells Al Borsa that these coops are not equipped to receive the wheat, which will lead to siphoning. Supply Minister […]
Posted inBasic Materials + Commodities
CAPMAS says climate change will affect wheat, rice harvests
The Central Agency for Public Mobilization and Statistics (CAPMAS) published a report suggesting climate change will have a direct impact on domestic harvest, Al Masry Al Youm reported. A rise in one degree Celsius will reduce annual production of wheat from 9 mn tonnes to 8.3 mn tonnes between 2014-15 and 2024-25, the report says. […]
Posted inReal Estate + Housing
Kuwait’s Grand Real Estate building EGP 1.5 bn housing project in Six of October
Kuwait’s Grand Real Estate Projects company has begun developing a housing project in Six of October over an area of 892 feddans, Chairman Ahmed Badr tells Al Borsa. The investment cost of the first phase is EGP 1.5 bn, he added. Grand Real Estate is also in negotiations with three companies to develop real estate […]
Posted inTourism
Deutsche Hospitality add two more hotels in Egypt
Deutsche Hospitality has signed hotel management contracts with the Taba Tourism Development Company and the Tourism Urbanization Company to manage the Taba Hotel & Nelson Village in Taba and the Cairo Pyramids Hotel in Giza under the Steigenberger Hotels and Resorts brand, Hospitality Net reported. The hotels will undergo extensive renovations until the end of […]
Posted inTourism
Matrouh signs three agreements for EGP 2 bn in tourism projects
Marsa Matrouh’s governor has signed three agreements worth EGP 2 bn to establish tourist resorts spanning between 10 and 100 feddans, Al Borsa reported. The report provides no further details of the resorts or the investors behind them.