Back to the complete issue
Tuesday, 29 March 2022

Diplomacy was the topic du jour last night

Coverage of our major day of diplomacy led our airwaves last night: Former Deputy Foreign Minister Mohamed Hegazy joined Al Hayah Al Youm’s Lobna El Assal last night to discuss the significance of yesterday’s diplomatic events, which included the Negev summit in Israel, French Economy Minister Bruno Le Maire’s visit to Egypt, and a phone call between President Abdel Fattah El Sisi and British Prime Minister Boris Johnson (we have more details in our Diplomacy section, above) (watch, runtime: 8:55).

Everything is getting pricier, but replacing outdated cars with natgas-powered vehicles still costs the same: Car owners looking to replace their older cars with new ones running on natural gas under the government’s natgas transition scheme will not pay more than the amount already announced, the Finance Ministry’s Automobile Financing Fund spokesperson Tarek Awad told Kelma Akhira’s Lamees El Hadidi in a phone-in (watch, runtime: 9:06). This comes as car prices rise on the back of the EGP devaluation.

Almost 18k dual-fuel cars have been sold under the scheme, Awad said (watch, runtime: 1:01). The multi-year program, which launched last year, provides financial incentives to car owners to either trade in their old vehicles or convert their engines to run on natgas. The initiative aims to take 1.8 mn gas-fuelled cars off the road to be outfitted with dual-fuel engines over the course of a decade.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.