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Squash ace Mohamed El Shorbagy — and his mom — get big love from the New York Times in a piece headlined “If You Lose the Next Point I’m Sending You to Your Room, Young Man.” His mom, an Alexandrian engineer, is as much the subject of the profile as is Shorbagy as the Times […]
Author Archives: enterpriseam admin
Posted inOn Deadline
The continued existence of loss-making public companies is wasting state resources
Newton questions the merits of maintaining public sector companies: The mismanagement of state-owned companies awash in red ink is costing the government valuable resources that could be better appropriated for education or health, Newton writes in his latest piece for Al Masry Al Youm.
Posted inImage of the Day
Swedish team uncovers dozen burial sites north of Aswan
A team of Swedish archaeologists have discovered a dozen burial sites in the Gabal al-Silsila area north of Aswan that dates back almost 3,500 years to the New Kingdom, Reuters reports. Human and animal remains were found in the cemeteries. Initial examinations show several complete bodies as well as evidence of malnutrition and broken bones […]
Posted inDiplomacy + Foreign Trade
El Sisi could pardon Halawa once trial is over
President Abdel Fattah El Sisi has reportedly told a delegation of Irish parliament members visiting Egypt he will offer a pardon to Irishman Ibrahim Halawa once his trial is over, BBC reported. “Sinn Féin TD Eoin Ó Broin, who is among the delegation, told BBC News NI that the president gave a commitment to intervene […]
Posted inDiplomacy + Foreign Trade
El Sisi meets with heads of states for international conference on democracy and security
El Sisi met with the presidents of Macedonia and Belarus, as well as several other current and former heads of states as part of an international conference entitled “democracy and security in a time of fundamentalism and terrorism,” Al Masry Al Youm reported. El Sisi spoke with German Chancellor Angela Merkel over the phone to […]
Posted inDiplomacy + Foreign Trade
Second tranches of World Bank, African Development Bank loans
The Ismail government can begin spending the second tranches of the World Bank and African Development Bank loans after receiving approval from the House of Representatives, International Cooperation Minister Sahar Nasr told Al Mal. The tranches are worth a combined USD 1.5 bn divided. Nasr also said that the ministry’s strategy is shifting to focus […]
Posted inEnergy
SDX Energy to buy Circle Oil’s assets in Egypt, Morocco
SDX Energy announced it has entered into non-binding heads of terms with Circle Oil to acquire its Egyptian and Moroccan businesses, according to a company disclosure. The agreement has a 30-day exclusivity period and is subject to the completion of due diligence, documentation, compliance with all regulatory requirements and conclusion of an equity fundraising. “We […]
Posted inEnergy
Eni raises expected production from Nooros gas field by 20% in mid-2017
Eni has raised its projected production targets from the Nooros gas field to 1.2 bcf/d by mid-2017, up from 1 bcf/d, Al Borsa reported. Eni will add 180 mcf/d in 1Q2017 through three wells with a total investment of USD 450 mn, sources said.
Posted inEnergy
Siemens’ three new power plants to kick off commercial operations in March
Siemens’ three new power plants are set to come online in March, sources tell Al Borsa. Siemens will be commissioning the Burullus plant over the next few weeks.
Posted inBasic Materials + Commodities
Conditions on import of strategic agricultural goods to be set by Export-Import Control authority
Trade and Industry Minister Tarek Kabil has issued a decree making the General Organization for Export and Import Control (GOEIC) the sole government body charged with regulating private-sector imports of strategic agricultural goods (including wheat and corn), Al Mal reported.