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Posted inEGYPT IN THE NEWS
Sinai residents threaten to protest over alleged extrajudicial killings
It’s a quiet morning for Egypt in the international press, with chatter trending toward the economy as some outlets pick up wire copy from Reuters and Bloomberg on Finance Minister Amr El Garhy’s press conference yesterday. Perhaps most notably: Aviation experts are sharply downplaying a suggestion made yesterday that an iPhone or iPad could have […]
Posted inOn Deadline
State officials should address the issue of Egyptians investing money abroad rather than locally
AMAY’s Abdelnasser Salama asks: Why is nobody addressing the issue of Egyptians investing their money abroad instead of locally? He is incensed by a report from the Dubai Land Department which puts Egyptians as among the UAE’s top property investors in 2016, spending nearly EGP 13 bn on real estate investments. He claims that the […]
Posted inWorth watching
How to hack your memory palace
How to hack your memory palace: It turns out brains don’t actually respond to brute force, so flashcards, repetition, and “anxiously putting your hand on your forehead” just doesn’t work, according to a piece put together by Dean Peterson for Vox. We can remember things in context very efficiently, he says, be it visual, emotional, […]
Posted inDiplomacy + Foreign Trade
Egypt and Belarus sign nine cooperation agreements in Sunday meeting
President Abdel Fattah El Sisi and his Belarusian counterpart Alexander Lukashenko signed an extradition treaty during a meeting on Sunday, AMAY reported. The two countries signed nine other cooperation agreements and MoUs in trade, military production, culture, sports, irrigation and water resources, as well as environmental protection. The two presidents will also launch the Egyptian-Belarusian […]
Posted inDiplomacy + Foreign Trade
Egypt and Jordan to amend a number of cooperation agreements after amendments
Egypt and Jordan will be amending 13 cooperation agreements that were signed last year in order to accommodate recent economic developments, International Cooperation Minister Sahar Nasr said during her speech at the 19th Egyptian-Jordanian Business Council meeting, Al Mal reported. These agreements cover cooperation in sectors such as medicine, transport, infrastructure development and air travel.
Posted inEnergy
Oil Minister meets with Dana Gas execs to discuss expansions
Oil Minister Tarek El Molla met with Dana Gas Technical Director Iman Hill to discuss future expansions, Al Shorouk reported. Dana Gas is planning to increase production from the Balsam field by 40 mcf/d through its JV El Wastani Petroleum by drilling two additional production wells in 2H2017.
Posted inEnergy
Attaqa power station upgraded and back online after two-year break
The Attaqa electrical power station is back online after a two-year hiatus to upgrade the facility, Al Borsa reported. Siemens and Mitsubishi renovated the station for EUR 20 mn, of which EUR 18 mn were sourced from German banks and EGP 40 mn from domestic banks. The station is currently producing at a daily capacity […]
Posted inManufacturing
Sphinx Glass will invest USD 150 mn into new production line if gov’t cuts gas prices
Sphinx Glass is looking to invest USD 150 mn into a new production line in 2017, CEO Mohamed El Khattab told Al Mal. The expansion is dependent on the government reducing the price of natural gas supplied to factories, he added. The government prices natural gas at USD 5 per mmBtu to factories, while competitive […]
Posted inHealth + Education
New committee to look into operational, investment framework for international schools
The ministers of investment and education have agreed to form a committee to look into the operational framework for international schools with an eye to making them more attractive to investors, Youm7 reported. The committee will evaluate existing regulations and outline new guidelines meant to encourage investments in international schools.