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21 Jun 2016

OneSubsea wins contract for Zohr development, offshore Egypt

HOUSTON -- OneSubsea, a Schlumberger company, has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel). OneSubsea will supply the subsea ...

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21 Jun 2016

'Unorthodox' agriculture policies to cost Egypt $860 million – USDA

Egypt, the world's top wheat importer, faces $860 million in extra costs and lost export opportunities this year because of "unorthodox agricultural measures," including a zero-tolerance policy on ergot fungus in wheat, the U.S. Department of Agriculture said on Thursday in a report.

"...

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21 Jun 2016

Maxim to establish new residential city in Egypt

Egypt-based Maxim Investment Group is keen to establish a comprehensive city within the state new administrative capital city, said a report.

The upcoming city will come up over a 1.26 million sq ft to 2.1 million sq ft area, reported Amwal Alghad, citing its chairman Mohamed"...

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21 Jun 2016

General Electric CEO visits Egypt for second time in two months

Egyptian President Abdel Fattah al-Sisi met on Saturday with General Electric Company CEO Jeffrey R. Immelt.

Minister of Electricity and Renewable Energy Mohamed Shaker and Minister of Transport Galal Saeed attended the meeting.

Presidential spokesman Alaa Yousef said it was the second visit by Immelt to Egypt in less than two months. Sisi lauded...

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21 Jun 2016

Siemens-Gamesa merger to 'positively affect' Egypt's wind power market- NREA

The possible merger between German giant Siemens and Spain's Gamesa will positively affect the Egyptian renewable energy market, Chairman of Egypt's state-run New and Renewable Energy Authority (NREA), Mohamed Salah El Sobky stated Sunday.

He"...

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21 Jun 2016

Inflation squeezes Ramadan feasts in Egypt as food costs surge

Cairo: Twelve people are seated around the dining table at Mokhtar Gamal’s house, their mouths dry and bellies empty after a day of fasting during the holy month of Ramadan. Plates of food fill the table, and all eyes are on the stuffed grape"...

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21 Jun 2016

Slight growth in internet users in March

Cairo: The number of internet users increased from the end of February to March, according to a report issued in June by the Ministry of Communications and Information Technology (MCIT).

The"...

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21 Jun 2016

Henkel Egypt targets every grocery store, supermarket in Egypt

With a presence in 120 countries worldwide, Henkel is a globally active company with a strong foothold in emerging markets. Its total sales in 2015 amounted to €18bn, an increase of 3% compared to 2014. 43% of the company’s sales in 2015 materialised in emerging markets, where 55% of its 50,000 employees are based.

Based"...

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21 Jun 2016

Brexit sparks fear of increased pressure on Egypt and emerging economies

There have been a plethora of declarations on the impending end of western civilisation in the wake of the referendum taking place on 28 June that will determine whether Britain will remain in the EU or not. While a litany of articles speculating about the future of EU-UK relations have flooded media publications, one issue is not being talked about: the affect...

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21 Jun 2016

BP sanctions development of 1.5tn cubic feet Atoll field in Egypt

BP has sanctioned the development of the Atoll Phase One project, an early production scheme that will produce up to 300m cubic feet of gas per day starting in the first half of 2018.

“BP is proud to progress"...

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