Month: November 2020

Cairo ICT 2020: Big Reset in Egypt to Adapt to New Reality

The 24th session of the Cairo International Information and Communications Technology Exhibition and Conference (Cairo ICT 2020) will start on Sunday, under the patronage of Egypt’s President Abdel Fattah Al-Sisi. The exhibition, which will run until 25 November, will take place at the Egypt International Exhibition Center (EIEC), under the slogan “The Big Reset”.

The exhibition will see the participation and sponsorship of major telecommunications and technology companies, as well as many government agencies.

On the sidelines of Cairo ICT 2020, several events will be held, the most prominent of which is the PAFIX Conference and Exhibition for Financial Technology and Digital Inclusion, taking place for the seventh year in a row. The conference is sponsored by the Central Bank of Egypt (CBE), and will discuss issues related to financial inclusion and the availability and security of digital payments.

The third session of the International Conference on Transport Technology Trans MEA will also be held, in partnership with the Ministry of Transport. It will witness the unveiling of many new investment projects in the field of transportation, depending on technology.

The sixth session of the DSS Conference and Exhibition of Public Safety and Security will be held during the Cairo ICT 2020 exhibition. Held for the fifth consecutive year, it will take place in the Innovation Arena, and will give the largest possible number of entrepreneurs and innovators the opportunity to present their innovative projects.

Trade Fairs, the organisers behind Cairo ICT 2020, has put in place several precautionary measures for the exhibition, taking into account the health and safety requirements for visitors to the exhibition. The exhibition will be held for the first time based on a hybrid system, integrating the exhibition and the in-person and virtual conference.

Egypt’s integrated efforts see success against illegal immigration: NCCPIM & TIP

Egypt’s integrated efforts against illegal immigration have been successful, according to Ambassador Naela Gabr, Head of the National Coordinating Committee for Combating and Preventing Illegal Migration and Trafficking in Persons (NCCPIM & TIP).

The Egyptian experience in the field of combating and preventing illegal migration and human trafficking has contributed to reducing this phenomenon, with there being no illegal immigration from Egypt to Europe seen since September 2016.

Speaking exclusively to Daily News Egypt, Gabr said that Egypt has not seen a single boat departing from its shores for four years. The country’s efforts are based on presidential directives related to tightening the security authorities’ control over beaches and ports nationwide.

The state has also intensified development efforts by implementing intensive national development projects, in addition to its support for small, medium and micro enterprises.

Covid Downturn Slashes Oz Oil Workforce

The Covid-19 pandemic has caused a loss of over 28,000 oil and gas jobs in Australia this year.

That’s according to a new Rystad Energy analysis, which highlights that the figure is equivalent to a quarter of the country’s total oil and gas job count. Australian oil and gas jobs have dropped from just over 110,000 in 2019 to just over 82,000 currently, the energy research and intelligence company calculates.

The engineering and construction segments have been amongst the worst hit with over 8,000 job losses, representing nearly 29 percent of all industry job cuts this year, Rystad Energy outlined. Drilling is another of the worst affected segments, having seen more than 1,100 jobs face the axe in Australia, per Rystad Energy’s estimates.

OGUK Explores Decom in a Low Carbon Future

Industry body Oil & Gas UK is exploring decommissioning in a low carbon future in its first virtual conference on November 24-25.

The free event, which is open to all, will deliver eleven interactive sessions over its two day running period. In a statement posted on its website, OGUK said it hopes the session will harness the power of different perspectives, challenge established norms and drive new conversations about decommissioning in the broader energy world.

“Tackling climate change is a global priority and our industry has the essential expertise to help make a difference,” Joe Leask, OGUK’s decommissioning manager, said in an organization statement.

“This session will examine the rapidly changing energy landscape and how we can meet our decommissioning obligations in an even more sustainable way. We know our skills and supply chain will play a big role in developing the low carbon solutions we need to meet climate change targets,” he added.

Egypt president, Italy PM discuss economic, military cooperation

Egypt President Abdel Fattah Al-Sisi and Italian Prime Minister Giuseppe Conte on Friday discussed means of economic and military cooperation, according to a statement posted by Egyptian presidency on its Facebook page.
In a phone conversation, the two leaders talked about issues of common concern especially the military and economic ties, said Bassam Rady, spokesperson of the presidency.
They also exchanged points of view on some regional issues, in particular the recent developments in eastern Mediterranean Sea and Libyan crisis, he added.
In September, Egypt’s Minister of State for Military Production Mohamed Ahmed Morsi and Italian Ambassador in Cairo Giampaolo Cantini discussed ways to advance cooperation with Italian companies in military production and the areas of joint industrialization.
The two sides announced the areas of cooperation included joint manufacturing of submersible water pumps, in cooperation with the Italian company Caprari.

Sudan decides not to participate in ministerial meeting over GERD

Sudan has decided not to participate in a ministerial meeting slated for Saturday regarding the Grand Ethiopian Renaissance Dam (GERD). “Sudan has decided not to participate in the ministerial meeting regarding the GERD, which was scheduled to be convened on Saturday afternoon,” said Sudan’s Irrigation and Water Resources Ministry in a statement on Saturday.

According to the statement, Sudan’s Irrigation and Water Minister Yasir Abbas has sent a message to his Ethiopian counterpart Seleshi Bekele, reiterating Sudan’s demand for a bigger role of the experts of the African Union in to facilitating the negotiations and narrowing the gap among the three parties.

“The adopted negotiating method during the past rounds has proved ineffective,” Abbas was quoted in the statement as saying.

Media future represents main challenge to professionals, politicians: PM

Egypt’s Prime Minister Mostafa Madbouly said, on Saturday, that no government in the world could work in isolation from the media, and that with media evolution, spreading rumours becomes as easy as publishing facts.

The Prime Minister’s remarks came during the virtual The Future of Media conference, organised by Egypt’s Ministry of State for Information, which also included significant Egyptian and international participation.

Madbouly said that citizens have a responsibility to filter the information they receive through media outlets, as they should separate facts from fake news. He added that media professionals have a bigger responsibility in fact-checking information.

The Prime Minister noted that the sector’s future represents one of the main challenges facing politicians and professionals working in the field, particularly with the emergence of new means of communication.

Investors to start receiving lump-sum payment of export subsidy dues on Sunday: Gamea

Egypt’s Minister of Trade and Industry Nevine Gamea announced, on Saturday, that the Export Development Fund (EDF) will release, on Sunday, the first batch of lump-sum payment of their export subsidy dues.

It comes as part of the lump-sum payment initiative recently announced by the Egyptian government, to settle the delayed dues of companies with the fund.

Under this initiative, exporters can receive their subsidy dues in full, instead of several instalments over four or five years, before the end of next December, provided that a 15% of the sum will be cut.

The initiative has been designed to provide exporters with cash liquidity required to fulfil their obligations and preserve employment.

Gamea said that, since 1 November, a total of 903 companies have submitted requests to the fund in order to benefit from the initiative. The first batch of payments will be made to about 323 companies, totalling EGP 3.2bn.

ABE signs agreement to finance 1.5 million-feddan reclamation project

Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE), and Amr Abdel Wahab, Chairperson and Managing Director of the Egyptian Countryside Development Company, signed a cooperation protocol to finance investors in the 1.5 million-feddan reclamation project.

Farouk emphasized ABE’s keenness to cooperate with the Ministry of Agriculture and the Egyptian Countryside Development Company to contribute to the success of the 1.5 million-feddan project.

He pointed out that it is considered one of the most important national projects launched by President Abdel Fattah Al-Sisi as part of the “Step to the Future” programme to achieve sustainable development.

He stressed that this project will have a major role in achieving self-sufficiency of agricultural crops and bridging the food gap.

Social infrastructure availability in mixed-use developments increases real estate demand: Colliers

Colliers International said that provision and integration of social infrastructure within mixed-use development, such as, open spaces, supporting retail, F&B, healthcare, education, and other commercial activities, has tangible positive impact on real estate demand. The company added that the novel coronavrius (COVID-19) outbreak has further emphasised these needs.

Colliers International has conducted a comprehensive research in Cairo regarding which factors determine price premium. The results for a well-designed mixed-use project could range from a premium of 25% to 45%.

Colliers International’s Cairo Real Estate Overview said that Greater Cairo has witnessed rapid development across its real estate market with a greater focus on two areas: New Cairo/New Administrative Capital and 6th of October cities during the last few years.

Cairo developers have always been at the forefront of innovation, through large scale master plans. However, societal demands are changing requiring greater integration of work, leisure, health, and education.

Regardless of the additional supply coming into the market within the new cities, the market is still witnessing a strong performance, Colliers said.

“The average sales rate across Greater Cairo increased by 14% to reach approximately EGP 14,100 per sqm ($888). Similar to the rental market, Zamalek is the most expensive area, given that it is an established high-end neighbourhood. New cities such as New Cairo and 6th of October are becoming more established districts offering a number of key community/lifestyle. New Cairo and 6th of October achieve an average sales rate of approximately EGP 11,400 ($718) and EGP 6,800 per sqm ($428), respectively,” the report read.