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Tag Archives: Egypt

Egypt opens offshore sector to US oil firms

Egypt sees increasing interest from U.S. energy companies in developing its offshore oil and natural gas resources and expects them to participate in two bidding rounds due before year-end, Petroleum Minister Tarek El Molla said. Egypt has emerged as an attractive destination for foreign energy firms following a string of …

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MiG-29 crashs in Egypt during training exercise

A Russian MiG-29 fighter plane crashed during a training flight in Egypt on Saturday, Russia’s United Aircraft Corporation was cited by RIA news agency as saying. The plane was supplied by Russia to Egypt as part of a commercial contract in 2018, Russia’s Kommersant newspaper said, adding that the Egyptian …

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Egypt plans foray into Asia bond market

Egyptian officials will tour Asia later this year to test interest in the country’s debt, part of government efforts to expand borrowing options as volatility roils emerging markets, Finance Minister Mohammad Maait said. Egypt has raised the possibility of issuing Samurai or Panda bonds in the past, but the planned …

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US peace plan: Palestinian state with east J’lem as capital, limited sovereignty

Asharq Al-Awsat reports on a developing US Mideast peace plan that recognizes east Jerusalem as Palestinian capital, no right of return, limited demilitarized sovereignty, billions in aid, Jordan Valley remaining in Israeli hands; Europeans offer arbitration assistance but unwilling to replace US. The US peace plan to resolve the Israeli-Palestinian …

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Egypt inaugurates several power generation plants

Egypt has inaugurated several power generation projects, including three power plants built by the German conglomerate Siemens. Tuesday’s ceremony was attended by President Abdul Fattah Al Sissi, and government ministers and officials. The three combined-cycle power plants built by Siemens in Kafr Al Shaikh and Beni Suef provinces and also …

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IMF Urges Egypt to Watch Inflation After New Subsidy Cuts

The International Monetary Fund urged Egypt to maintain a tight monetary policy as a new round of subsidy cuts rekindled inflation worries. The Washington-based lender praised Egypt’s implementation of economic reforms as “instrumental in achieving macroeconomic stabilization, with external and fiscal deficits narrowing, inflation and unemployment declining, and growth accelerating.” At the same …

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Egypt to increase gas production at Zohr

Egypt aims to increase production at its huge Zohr offshore gas field in the Mediterranean to 1.75 billion cubic feet per day in August, Petroleum Minister Tarek Al Molla said on Thursday. Al Molla said in a statement that recent production increases have pushed Egypt’s total natural gas production to …

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Egypt Widens Security Crackdown as Concerns of Unrest Grow

Egypt’s government has intensified a crackdown on political opponents, arresting a series of high-profile dissidents in raids on their homes in recent weeks as President Abdel Fattah Al Sisi prepares to begin a new term next month. Those detained in the current sweep are among the country’s most prominent non-Islamist activists, including …

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Google Maps reveals ‘alien structures’ deep in desert

The satellite imaging service has unearthed many of the world’s mysteries, including ghosts and the Loch Ness Monster. And its latest set of snaps, taken from the desert east of Cairo, rank among the most bizarre. YouTube channel SecureTeam10 claims the odd markings in the picture are the remains of alien …

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Israeli Soldiers Abduct A Palestinian Journalist

Israeli soldiers stationed at the al-Karama Border Terminal between Jordan and Palestine abducted, on Thursday, a Palestinian journalist working for Palestine TV, while he was heading back home after receiving a journalism award in Egypt. The journalist, Bakr Abdul-Haq, was returning to Palestine from Cairo, after receiving a journalism award …

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