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Newton doesn’t like meat plan: The Al Masry Al Youm columnist writing under the pseudonym Newton published a letter from a reader saying the plan to import one mn head of cattle to produce 1,000 tonnes of meat will cost Egypt 15,400 liters of water per kg of meat produced, in addition to costs of […]
Author Archives: enterpriseam admin
Posted inOn Deadline
Amr Hamzawy says internal, external circumstances leave no room for optimism
Amr Hamzawy is having a hard time finding the light at the end of the tunnel for Egypt in 2017: The country’s state of affairs, including rampant corruption and excessive reliance on external assistance, has left the former parliamentarian saying there is no reason to be optimistic in a column penned for Al Shorouk. Surprising, […]
Posted inWorth watching
Capturing Cairo’s design landscape from the 2016 Dubai Design Week
Egyptian designers making beautiful creations: Medrar TV covered the 2016 Cairo Now: A City Incomplete exhibition from Dubai’s Design Week, an event that captured Cairo’s current design landscape in October 2016. The exhibition included work by “designers who make purely Egyptian work, yet in new ways, work with Egyptian craftsmen and use local materials to […]
Posted inDiplomacy + Foreign Trade
Swap agreement with China has not been used in trade agreements yet -source
No trade agreements have taken place with Chinese companies since the signing of a currency swap agreement with the People’s Bank of China, banking sources told Al Borsa. The agreement is expected to facilitate trade between the two countries and is renewable after three years. A government source added that the central bank is considering […]
Posted inEnergy
BNP Paribas leads syndicate funding EUR 200 mn power transmission stations
A syndicate led by BNP Paribas has signed an EPC-plus-finance funding agreement with the Egyptian Electricity Transmission Company for six new power transmission stations worth EUR 200 mn, Al Borsa reported. Siemens and El Sewedy Electric will be jointly constructing the stations as part of an MoU the Electricity Ministry had signed with Siemens at […]
Posted inEnergy
Shell completes repayment of Idku liquefaction plant loan in December 2017
Royal Dutch Shell will complete repayment by December 2017 of the second tranche of a USD 2 bn loan issued to BG to build the Idku liquefaction plant, sources told Al Borsa. EGPC agreed to pay USD 480 mn of the first installment due to the Idku plant halting operations in 2012. The Idku plant […]
Posted inEnergy
Two oil companies reach agreements to pay suppliers in EGP
Oil and gas companies SDX Energy and Merlon International have reportedly reached agreements with their suppliers and contractors in Egypt to repay them in EGP, sources told Al Mal. The initial agreements allowed companies to pay 40% of their receivables in EGP, but the fall in international oil prices, delays in payments from EGPC, and […]
Posted inInfrastructure
DP World studies building dry port near Cairo
DP World could build a dry port near Cairo, Hellenic Shipping News reports. A delegation from the group is expected in Egypt soon, said Trade and Industry Minister Tarek Kabil. A dry port on Cairo’s borders should reduce traffic jams by preventing heavy trucks from entering the city, said Chairman and CEO of DP World […]
Posted inBasic Materials + Commodities
New gold E&P tender during 2017 -Oil Minister
The government will issue a gold E&P tender in seven concession areas in the Eastern Desert in 2017, Oil Minister Tarek El Molla told Amwal Al Ghad. The ministry had previously announced in November 2016 that it would be issuing its first gold exploration tender since 2009. Additionally, GANOPE will begin a USD 750 project […]
Posted inBasic Materials + Commodities
Juhayna raising prices for the third time
Dairy products manufacturer Juhayna could raise the price of juice and dairy products for a third time in as many months, citing increasing production costs, Al Mal reported. Juhayna joins its FMCG counterparts, who have reportedly increased their prices by 10-40% with the start of 2017. Juhayna had already raised its prices by 10% two […]