EU fines Amazon $295 A special interview with Engineer Fouad Sabet, Chairman million and eyes other Sisi instructs alteration of Egypt’s educational curriculums big U.S. tech companies 3 of the Association of Port Said Investors for "MEO" 2 to support accepting others and contest Islamic radicalism 2

“Ladies and gentlemen, there are moments “Psychologists tell us in the lives of nations that in order to learn and peoples when it is incumbent upon those from experience, known for their wisdom two ingredients are and clarity of vision to survey the problem, with necessary: frequent all its complexities and vain practice and immediate memories, in a bold drive toward new horizon” feedback.” Richard H. Thaler Anwar Sadat \Themeobserver www.Meobserver.org Economics Noble Egyptian president of Prize winner 2017 Egypt (1970-1981) \ Meobserver \ Middle East Observer Born : 1945 Born: 1918 Died: 1981 Founded by. Ahmed Fouda in 1958 Present 64th Year No. 41 ESTABLISHED 1945 L.E 4.85 Wednesday, 11 Oct. 2017 A call to the African Union for an integrated cyber force safe-guarding CONGRATULATIONS EGYPT Africa’s future and security Wesley Diphoko, Head efforts to safeguard the Afri- evolves.” of the Independent Media can digital space. Such a call for an integrat- Lab and the founder of the “The next step in this re- ed African cyber force safe- Kaya Labs in Cape Town, gard will be to focus on the guarding Africa’s future and has recently published an African reputation on plat- security, needs to be estab- article in the South Afri- forms such as the Wikipedia. lished immediately as the can Star calling for African Currently Wikipedia has lots diversity of knowledge and countries to efficiently col- of inaccurate information skills within the continent laborate against the serious about Africa, such as its peo- is vast and highly efficient, challenges facing the conti- ple, organisations and histor- to integrate under the um- nent against internet security ical records. The Lab will fo- brella of the African Union stating that the continent is cus on ensuring that Africa is and African entrepreneur’s vulnerable. He refers to the well represented online. The support and sponsorship,a success of The Bundeswehr Independent Media Lab is in matter that will validate the (The 6th branch of the Ger- search of organisations that African Union’s purpose and man army), which consti- are also interested in protect- value in developing solu- tutes of about 14000 cyber ing the African digital space. tions to the continent’s chal- army of German soldiers and Universities, organisations, lenges. Further more, such civilian contractors who are technologists, entrepreneurs integration can also yield currently engaged in deal- and governments are invited returns by developing a unit ing with cyber defence and to work with us firstly in that identifies and supports threats from a number of dif- translating the internet into growing technology start- ferent locations. They have African languages, improv- ups in Africa, by providing a been brought together un- ing the African reputation database to collect their data, der a single entity. As such, online and by nurturing fu- support them in marketing there is a need to develop ture African technology their services and products an integrated African group leaders. All African coun- as well as safeguarding their of young people who can tries should collaborate in copy rights. Such a vision defend the continent online. setting up a continent-wide can only come true through The first step in this regard is defence platform by nurtur- an African Union initiative The 2018 World Cup Fever hits EGYPT working towards an under- ing young technology peo- to bring along such a col- In the month October, the sprit of match sparked wild scenes of celebra- the streets, corners and round abouts all standing of digital skills that ple. Once this process is in laboration between the aca- victory dominated the Alexandrian tion both on and off the pitch, as sev- over Egypt in celebrations that lasted exist in the continent. The place, data about Africa’s demic and government cir- Stadium and the Pharaoh team to- eral players and fans took to the field for hours. President Abdel Fattah Al Independent Media Lab is digital skills should always cles into a framework. wards scoring 2 goals to 1 against Con- to celebrate while supporters wept with Sisi welcomed the Pharaoh Team and beginning a process of creat- be maintained to inform go, qualifying Egypt to the 2018 World joy in the packed stands. The energy honored them on their success in reach- ing such a force as part of its training needs as technology by: Rania Imam Cup in Russia next June. Winning the went beyond the Alexandria stadium to ing the world cup. Boeing expands its R&D acquisitions into the pilotless plane market Washington post, Chicago-based aviation giant Boeing stepped is the XV-24A LightningStrike, an experimental, fan-propelled tagon officials, who are closely watching the defense industry as it up its investment in autonomous technology Thursday when it an- drone funded by the Defense Advanced Research Projects Agency, undergoes a wave of consolidation. nounced plans to buy Aurora Flight Sciences, a Manassas, Verginia the Pentagon’s weapons research agency. Another DARPA-funded A few weeks ago, Northrop Grumman moved to buy aerospace -based company that develops experimental self-piloting aircrafts. effort is a zero-emissions aircraft powered completely through en- manufacturer Orbital ATK for $7.8 billion cash while assuming Terms of the deal were not disclosed. Boeing executives de- ergy captured by wing-mounted solar panels. $1.4 billion in debt. That merger came on the heels of a $30 bil- scribed the deal as a move to align itself with future trends in Other technologies being worked on at Aurora could have appli- lion megadeal between United Technologies and Rockwell Col- aviation technology. “This really represents a new chapter for cations in Boeing’s commercial sector, including an experimental lins. Boeing has commonly used acquisitions to give it a foothold the Boeing company because the aerospace industry is going to delivery drone being developed in partnership with Uber. Boeing in emerging next-generation technology markets. The company be changing as it moves into the future,” said Greg Hyslop, Boe- officials played up Aurora’s expertise in designing fully autono- gave its unmanned systems offerings a boost in 2008 when it ing’s senior vice president of engineering, test and technology. He mous flight systems, suggesting Boeing could use Aurora’s exper- bought a company called Insitu, which now operates as a wholly- declined to go into detail about how Aurora’s technologies would tise to integrate artificial intelligence into the way the company’s owned subsidiary within Boeing. More recently, Boeing bought be integrated into Boeing’s business. Aurora is noted for beating planes are piloted. “It’s hard to know where the future is going but Liquid Robotics, a company that develops robotic submarine tech- out some of the defense industry’s biggest companies, including I think we can see where the vector is pointed, and we want to be nology. The Aurora unit is to similarly function as an independent Boeing, on advanced research-and-development contracts. One ready,” Hyslop said. The merger is still subject to review by Pen- R&D company owned by Boeing. Rosneft closes deal to buy 30% stake in Egypt's Zohr gas field Russia’s Rosneft has closed a deal to acquire a 30 percent stake in Egypt's Zohr gas field from Italy’s Eni for $1.125 billion, the com- pany announced in a press release. The new agreement means Eni now owns a 60 percent stake in Zohr, the largest gas field in the Mediterranean Sea, with BP owning the re- maining 10 percent.“The company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft,” Rosneft said in Tuesday's statement. Eni announced the agreement to sell the 30 per- cent stake to Rosneft last December.“Having Egypt to build its first smart closed the deal to acquire a stake in the con- cession agreement for the development of Zohr gas field, Rosneft has entered the world class project,” Rosneft Chief Executive Officer Igor green city in Aswan Sechin said.Production from the Zohr gas field, which holds an estimated 30 trillion cubic feet The governor of Aswan, Major General Magdy the new urban city, accompanied by the directors The detailed outline of the new city includes dif- Hegazy, announced the start of the designing of a of Urban Planning, Environment, Health and Man- of gas, is set to begin in December, Eni CEO ferent types of housing units for youth as well as Claudio Descalzi had said earlier this week, smart model green city in the western desert of the power departments of Aswan, that the new city will medium income earners and economic and invest- ancient city of Aswan on an area of just over 4000 be established as part of the future urban expansions ment housing, he said. Reuters reported.The field was discovered by acres, in accordance with Presidential Decree No. to accommodate the population density in the old An area for tourism has also been included in the Eni in 2015 and is the largest know gas field in 311 of 2017. city of Aswan under the strategic plan, named As- plan, including the construction of resorts, hotels, the Mediterranean Sea. Hegazy added during a field tour to the site of wan 2052. cinemas, a theatre, parks, and malls. طبع مبطابع دار لل�صحافة توزيع جريدة Cairo, Abu Dhabi sign three MoUs CBE’s higher reserved requirement on dates industry in Egypt likely to lower interest rates Egypt and the UAE inked three memo- ministry to develop dates sector in Egypt randums of understanding in the fields via cooperation with the world institutions Banks in Egypt may lower interest rates due to the to Bloomberg that the CBE would lift the cash reserve of producing, manufacturing and storing concerned, Minister of Trade and Indsutry Central Bank of Egypt’s (CBE) decision to raise re- ratio (CRR) in the period between 2001 and 2012. dates in a number of Egyptian governo- Tareq Qabil said. The current period wit- serve requirement for banks to 14%, head of research El-Swaify noted that the CBE is trying to restrain rates. The signing ceremony was attend- nesses large momentum in cooperation at Pharos Holding for Financial Investments liquidity through raising CRR, instead of changing ed by Minister of Trade and Industry Tareq between Cairo and the UAE’s Khalifa In- Radwa El-Swaify told Bloomberg. interest rates. On 3 October, the CBE announced Qabil, UAE Ambassador to Egypt Juma ternational Award for Date Palm and Agri- This decision will push banks to reduce deposit in- boosting CRR to 14% from 10% starting from 10 Oc- Mubarak Al Junaibi, New Valley Governor cultural Innovation, he noted. terest rates, she highlighted. tober 2017. The CRR settled at 14% between 2001 Mohamed el Zamalout and Giza Gov- The minister indicated that the three Additionally, demand for government debt instru- and 2012, and was gradually lowered since January ernor Mohamed Kamal el Dali. Signing deals aim to raise competitiveness, op- ment will increase, leading to higher cost of borrow- 2011 by 4%, until it reached 10% to support the Egyp- these deals comes within the framework timize the use of available resources as ing, she added. El-Swaify had previously forecasted tian banking sector. of the strategy implemented by the trade well as to improve productivity.

www.meobserver.org 2 Home 11 Oct. 2017 instructs alteration of Egypt’s educational curriculums to Sisi support accepting others and contest Islamic radicalism President Sisi stood before the high cler- of religion, accepting others, and combat- ics of Al Azhar on Jan 2015 saying: “You, ing violence and extremism. imams, are responsible before Allah. The In May 2017 world watch Monitor pub- entire world is waiting. lished an article titled “Egypt: small signs The entire world is waiting for your next challenging religious intolerance” in which word because this nation is being torn the organization mentioned recent devel- apart.” He demanded them to work on re- opments in Egypt demonstrating a more forming Islamic teachings to promote toler- vigilant approach to religious hate speech Dr. Sahar Nasr ance and coexistence with other beliefs. Al against Christians and religious reformers Azhar is an Islamic University more than by religious leaders and the media alike. 1000 years old, a body containing a uni- These developments included the con- WB Considers its versity with various faculties and research struction of a new Christian church built centers that has 450,000 students, many in the village of Ismailia in Menya with from countries across Asia and Africa. It the offerings of Muslims where the village Strategic Partnership also has a network of more than 9,000 Mayor, in his speech, presented its con- schools across Egypt attended by more struction as a visible and concrete sign of than 2 million students. strengthening national harmony. A second with Egypt a Unique President Sisi was hoping they will join development is when Islamic cleric Sheikh him in a more effective manner to combat Salem Abdul Jalil who has been charged Islamic radicalism that leads to the vio- for anti-Christian comments made on his Success Story, Dr. Nasr lence the world is currently suffering from. TV show. He faced a misdemeanor court Since then Al Azhar only tweaked some in Cairo on 24 June for calling Christians The Minister of Investment and Internation- text books and setup an online center to ‘non-believers’ or ‘infidels’. The TV chan- al Cooperation and Egypt’s Governor at the track militant statements on social media nel apologized to all “Christian brothers” in World Bank (WB) Dr. Sahar Nasr stated that so the institute can better refute them. President Abdel Fattah El Sisi an official statement and announced that it a number of WB leaders, topped by President But there is no detailed reform program would end its contract with the presenter. of the WB Dr. Jim Kim, organized a sympo- yet. Amany Maged of Al Ahram weakly deputy or the rector of Al-Azhar University dress the issue. A third development is when the Egyptian sium on Monday in Washington for the WB’s wrote in April 2017: “For months Al-Azhar but according to him: “There is also the The first meeting of the national council Ministry of Religious Endowments banned staff from various levels and sectors. During and its Grand Imam Sheikh Ahmed Al- Supreme Council of Al-Azhar, the Islamic was held on 24th of August in which the one of its other employees and an Al-Azhar the symposium, an overview was given about Tayeb have faced heated criticism for fail- Research Academy and the Organization president directed all members to devise scholar, Abdullah Roshdy, from preaching the success achieved by Egypt’s economic re- ing to combat extremism. Such criticism of Senior Ulema. All these bodies study a comprehensive strategy to enable the after he backed Abdul Jalil and his com- forms, especially in the energy sector over the has been amplified in the wake of the Palm decisions that are submitted for their con- council to achieve its targeted mission. A ments. Roshdy’s membership of the po- three previous years, and its relation to the de- Sunday bombings of the Church of St sideration before they are issued.” strategy that includes recruiting all needed litical party Future of a Nation (Mostaqbal velopment of cooperation between Egypt and George in Tanta and St Mark’s Church in As president Sisi’s patience grew thinner Egyptian institutions and organizations Watan) was also suspended; the party the WBG as well as the latter’s commitment Alexandria, reaching the point where some with Al-Azhar taking effective measures to to contribute to the goal. The president said Jalil’s comments were defamatory. to being a real development partner to Egypt. journalists, intellectuals and MPs have de- make the necessary teaching’s reform he highlighted 5 scopes; security, cultural, The organization also sighted that on 13 The WB leaders also called for considering this manded the grand imam resign. decreed the establishment of a national economic, social and mass media and May Al-Azhar announced it would form a strategic relations a unique model that should Under current laws he cannot be dis- council for combating radicalism and ter- emphasized that all State institutions will committee to prepare a new law to con- be repeated with other developing countries, missed. In response, Al-Azhar officials rorism two months ago, giving it broad have to cooperate and contribute. He front hatred and violence in the name of within the framework of the WB’s endeavors to and scholars rushed to defend their institu- authority to set policies aimed at “fighting stated that it is imperative that this council religion. Once finished, it would go to par- maximize the sources of funding for develop- tion.” She quoted Ahmed Omar Hashem, extremism,” as the presidential decree contributes to Islamic teaching’s reform to liament, this followed the resignation of Al- ment. Moreover, the Minister indicated that she a member of the Organization of Senior stated. The council is chaired by Sisi and promote tolerance. Last but not least the Azhar University’s own president Ahmed would discuss the means of broadening coop- Al-Azhar Ulema, insisting that Al-Azhar is includes the head of parliament, the prime president gave his directions to the council Hosni, over his criticism of a controversial eration between Egypt and the WB during the doing its job in updating religious discourse minister, the head of Al-Azhar, the Pope to work on altering current Egyptian edu- Muslim reformer (Islam El-Beheiry), whom significant discussions to be held with various and pointing out that decisions at Al-Azhar of Alexandria and several ministers and cational programs of all ages to plant the he called an “apostate.” leaders at the WB during the upcoming period. public figures who have been known to ad- principles of equality under law regardless are not just taken by the grand imam, his Sherif Abdelghaffar Engineer Fouad Sabet, Chairman of the Association of Port Said Investors for "MEO" Return of "Mercedes" to the Egyptian market emphasizes the attractiveness of the investment climate

Eng. Fouad Sabet, Chairman of the Port Said He added, that Mamesh's decision, Chairman of Sabet called for the necessity to accelerate the Investors Association said that the success of the Suez Canal Authority and the Economic Zone, to issuance of the remaining laws that encourage negotiations of the Suez Canal economic zone with reduce port charges is a sound and very positive investment, beyond the current newly released "Mercedes-Benz" and the company's return to work decision, as the previous decision by the ex-Minister investment law such as the laws for local in Egypt again, is an evidence of the attractiveness of Transport lead a number of vessels away and it administration, fighting corruption, safe exit from and improvement of the business environment is expected that the Singapore investors will return the market, transparency of information, and most in Egypt, especially after the issuance of the new to Egypt during six months upon concluding their importantly developing the management methods of investment law and its executive Regulations. external contracts and obligations. the industrial zones

Mamesh's decision to reduce Singapore investors return to port charges is very positive Port Said Port during 6 months Engineer Fouad Sabet How do you see the success of conclude the remaining laws supple- production capacity, as well as, resort- were positive and ships are expected cy and safe market exit laws as we the economic zone of the Suez Ca- menting the investment, that strength- ing to investors in the formation of the to return to the Egyptian ports within cannot promote for industrial invest- nal in in their negotiations with the ens the confidence of foreign inves- boards of directors of industrial zones. 6 months. ment without a law that makes it easy company "Mercedes-Benz" to re- tors such as the anti-corruption law, How do you see the recent tours Has it been the decision of Mo- for investors to exit the market turn to the Egyptian market? the law for transparency of information of the Ministry of Investment and hab Mmeish to reduce the port It is important as well to issue the The return of Mercedes-Benz to the as well as the safe exit from the mar- the Suez Canal area in Singapore? fees? local Public administration law, as it Egyptian market is a positive Indicator ket law. On the other hand, it is essen- Two years ago, Singapore inves- Yes, because the high cost of ser- is essential for the integrity of the per- and evidence of a better investment tial to issue the executive regulations, tors started their investments in vices does not encourage the pas- formance & economic development climate, and that prior to announcing and promoting the Port Said , had it not been for the de- sage of ships, by granting discounts to process, so that there may be a pub- the Suez Canal authority is making law so that it mat reflect positively in cision of the ex-Minister of Transport ships, it is more suitable, but ships lic monitoring on the executive orders great efforts in attracting foreign in- the market upon promotion, to increase the fees for services at need to wait to end their contracts and taken within govern orates, whether it vestments. especially that investors look for the Port Said Port, which made this obligations with other ports in some may be investment related or industri- What is required after attracting market exit option as a back-up for port's services the most expensive countries such as Morocco, before re- al zones related. Also, an anti Corrup- investments to Egypt? their investments and accordingly it is It is essential to develop the indus- on the Mediterranean, compared to turning to Egypt. tion Commission must be issued with The investment environment must a dominant factor prior to proceeding trial zones in the govern orates, as other ports such as Peré and Ashdod. What are the supplement- its law that govern its operation so that be fully developed in Egypt. After issu- with their investments. well as, develop the mechanism for The Recent rounds by the Investment ing laws to the investment law you investors may be assured on entry to ance of the new investment law and How do you see developing the in- selection and training of their Boards Minister and the Chairman of the regard as most eminent ? the market for investment purposes. of Directors, to be able to make de- its executive regulations, we need to dustrial and investment zones? Suez Canal Authority to Singapore The Ministry of Investment should cisions that will enhance the factory's accelerate the Drafts for the bankrupt- and other countries such as Vietnam By: Mahmoud Hammad

64th year Issue 41/2017 - 1edition Publisher and Chairman Consultant of ME Affairs Investigative Editor Address Al-Jomhoriah Yasmine Fouda [email protected] Distribution Authorised by Eiman Rashed Head office Mahmoud Fouda Annual subscription rates in Egypt the Egyptian united organization for Press Special Reports Editor [email protected] 41Sherif St., Cairo, Egypt "An Egyptian Joint Stock Company" Egypt L.E 260 [email protected] Rania Imam Layout & Design Tel:00.202.23926919 Founded in 1958 by Ahmed Fouda Over 50 years covering Middle Editor-in-chief Managing Editor Arab Countries US$90 Al-kawmia Moharram Fouad Fax:00.202.23939732 Distribution 1st edition 6165 issues East and Gulf Economic News H.A.Raouf Amira Elhamy Ahmed Saber Mob: 01222174062 [email protected] in the world Tax revenues up by 31.8% for fiscal year 2016/17: Egypt's finance minister Six lenders to secure LE2.3 bln for the General Petroleum company ABB acquires GE Industrial Solutions for $206bn The Minning Magazine reported sources today. ABB also noted that it Egypt’s General Petro- the banking alliance arrang- strategy during the fiscal that, ABB confirmed it has acquired GE will have long-term usage of the GE brand leum Company (GPC) has ing the deal includes NBE, year 2017/18 aims to imple- Industrial Solutions in a US$2.6 billion name. Further, GE Industrial Solutions will signed a financing agreement Banque Misr, Arab African menting replacement and re- deal. While the business unit, active in be integrated into ABB’s Electrification with a banking alliance made International Bank, Soci- newal programs at a cost of more than 100 countries, was non-core Products (EP) division, allowing worldwide up of 6 local lenders to ob- ete Arabe Internationale De EGP 99.3 mn and exploration for GE, ABB noted the addition offers customers the most comprehensive it significant value creation potential offering. “This combination brings tain a loan of EGP 2.3bn to Banque (SAIB), EG Bank and drilling projects costing and will also expand its access to the together two global businesses with a finance oil and gas explora- and Union National Bank – EGP 1.757 bn. The state- North American market via an existing, broad complement of electrical protection tions and drilling operations. Egypt. The financing will be owned company operates in sizable distribution network. and distribution assets,” GE CEO John The vice chairman of the provided in Egyptian pounds exploration, production and Under the deal’s terms, the pair will Flannery said. “ABB values our people, National Bank of Egypt (NBE) and the loan duration is 7 development of hydrocar- establish a long-term, strategic supply domain expertise, and our ability to Yehia Abul Fotooh said that years, he added. EGPC’s bons. relationship for GE Industrial Solutions operate in the segments where we have products and ABB products that GE depth and experience.

www.meobserver.org 11 Oct. 2017 BCanks & ompanies 3 EgyptAir cuts ticket prices for certain flights for a limited time $816 Egypt's national airline EgyptAir announced The decreased ticket prices for flights to European buy tickets before 5 October for flights before 10 AE-based telecom on Tuesday that it is cutting ticket prices up countries start from EGP 4,241 for economy class December. to 40 percent for a limited period for certain and EGP 8,461 for business class. The 85-year-old airline has been facing several group Etisalat plans international flights. Clients travelling to Tunisia, Algeria and challenges over the past few years. to invest more than The special prices, which have been posted on Morocco before 10 December can buy tickets for Last May, the Egyptian minister of civil aviation $816 million in 2017 the company's official Facebook page, are for EGP 4,160 for economy class and EGP 8,183 announced that the company has lost around flights to the United States, several European for business class. The ticket price decrease is $777 million since 2011. to develop and mod- cities, North African countries, as well as Beirut, in effect until 15 October. The company has a development plan that ernise infrastructure Dammam, and Riyadh. Special prices for flights to Beirut are on includes adding 38 new planes to its fleet, but and expand mobile Passengers who are travelling to or transiting offer for tickets purchased before 21 October the deal, worth EGP 60 billion, has not yet been at JFK airport in New York on their way to 42 for flights travelling before 15 December, and approved. and fibre optic net- other US airports can make use of the offer for between 15 January and 24 March, as well as In August, EgyptAir added seven new Boeing works, Internet of flights before 17 December. 25 April to 1 June. planes as part of a deal to buy nine planes from Things, artificial intel- EgyptAir is the only Egyptian airline that flies EgyptAir is also providing a 25 percent Boeing for $1 billion. to the United States, operating flights between decrease for flights to Saudi Arabia's Dammam EgyptAir currently has a total of 67 planes in ligence and robotics Cairo and New York. and 20 percent on flights to Riyadh if passengers its fleet. across the UAE, said the company CEO. UK's BTG to buy Roxwood Medical for Malaysia’s ACASYS Group aims to inject $5bn in Egypt up to $80 million Malaysia’s Architecture & Creative Arts System company’s offer, but he hasn’t approved it yet. It is worth mentioning that ACASYS Group has (Reuters) - British drugs company (ACASYS) will invest $5 billion in Egypt after obtaining The group will start working on the offices in Malaysia, China, Dubai, and Vietnam. BTG Plc said on Thursday it will buy the Egyptian government approval. implementation of these units right after getting The group is also operating China’s major firms, U.S.-based cardiovascular catheter The firm has requested the Egyptian Minister of the approval of the Egyptian government, Hisham including Zhong Yang Construction Group Co. Ltd, maker Roxwood Medical for up to Housing to establish 250,000 residential units with Fathy, the regional director at ACASYS, added in China MCC5 Group Corp. Ltd, Power Construction $80 million. investments worth up to $5 million, according to the a press release. Corporation of China, China Energy Engineering Co. The deal, which is expected to be company’s statement. ACASYS is aiming to expand and reach the African Ltd, China Real Estate Group Cengdu Developing accretive to adjusted profit from Egypt’s housing minister welcomed the Malaysian markets through Egypt, Fathy noted. Co. Ltd. the second full year of ownership, comprises $65 million paid on closing and up to $15 million in potential milestones. Roxwood’s portfolio of anchoring catheters and microcatheters for treatment Qalaa Q2 revenue up 25pc to $130m of complex cardiovascular lesions should leverage BTG’s existing successful EKOS (endovascular Qalaa Holdings, an African leader in Qalaa has consistently delivered dou- energy and infrastructure, has reported ble-digit top-line growth as platforms system) sales and marketing revenue growth of 25 per cent year- across its portfolio reap the rewards of operation, Deutsche Bank analysts on-year in Q2 2017 to EGP2.3 billion Egypt’s new macroeconomic environ- said in a note. Separately, BTG ($130 million) as it capitalized on the ment. In 2Q17, we delivered growth as stuck to its double-digit product favourable economic environment. our energy plays Taqa Arabia and Ta- sales growth forecast, adding that Revenue growth during the quarter was wazon benefitted from the phase-out licensing revenue in the first half largely driven by improved performances of energy subsidies at both ends of the has benefited from back royalties on at Qalaa’s energy and cement platforms. spectrum, while other portfolio compa- Lemtrada, Sanofi’s multiple sclerosis Taqa Arabia turned in solid results for nies are also finding strong footings as treatment. BTG said licensing the period, recording revenue growth of they leverage their ability to deliver ef- revenue is expected to decline over 24 per cent y-o-y in 2Q17 as it benefits ficiencies deemed ideal in today’s mac- the full year by low double digits at from gradual phase-out of energy sub- roeconomic environment.” constant currency, compared to a sidies. Meanwhile, Tawazon posted “Our mining subsidiary ASCOM is a solid 127 per cent y-o-y increase in gaining increased price-competitive- previous forecast of a high-teens Tom Hill (3rd L), CEO of cement maker Summit Materials Inc., claps before decline. top-line owing to higher demand for ness both locally and regionally thanks the company's IPO on the floor of the New York Stock Exchange. alternative fuels — including biomass to its position as a quality exporter and and Refuse Derived Fuel (RDF) — as an import substitution play. And we are well as new contracts for the construc- also pushing through higher opera- Ahmed Heikal Summit Materials makes $3.8 tion of sanitary landfills. At ASEC Ce- tional efficiency at Dina Farms as we ment’s Al Takamol plant in Sudan, im- seek to cement its standing as one of EGP5.6 billion on its consolidated fi- proved productivity saw revenues grow the country’s leading agribusinesses. nancial statements. Once Qalaa Hold- 28 per cent y-o-y in 2Q17, while Aresco Meanwhile, our greenfield Egyptian ings cedes control of Africa Railways, billion bid for Ash Grove Cemen recorded a two-fold increase in top-line Refining Company is at 95 per cent said liabilities will be deconsolidated during the quarter as it began imple- completion and is gearing up to deliver and Qalaa will potentially book a sub- LONDON (Reuters) - U.S. cement party which valued the business at menting work on new projects. much needed energy resources to our stantial gain on its consolidated income maker Summit Materials has made a $3.7-$3.8 billion. “As the country maintains a steady national economy,” Heikal added. statement in the coming period (net of reform course, we remain increasingly “Our focus in the months ahead will FX reserves and minority interests). $3.8 billion offer for rival Ash Grove The source said Summit Materials’ confident in our position to capture the be to bring ERC online and translate Following the impairment of Af- Cement, a source familiar with the bid was submitted on Thursday and upside and capitalize on the new fa- competitive advantages and opera- rica Railways, Qalaa’s losses from matter told Reuters, hoping to trump is currently being considered by Ash vourable economic framework,” said tional efficiencies gained across our discontinued operations declined an earlier takeover bid from Irish Grove’s board. It could be the start of Qalaa Holdings chairman and founder portfolio into bottom-line profitability to EGP11.7 million in 2Q17, down building materials firm CRH Plc. Ash a bidding war with CRH, which last Ahmed Heikal. and accretive returns to our investors.” from EGP149.0 million in 2Q16 Grove said earlier on Friday that it had month agreed to buy Ash Grove for a “Almost a year in since the rollout Qalaa Holdings continues to carry and EGP225.6 million in 1Q17.– received a new bid from an unnamed total consideration of $3.5 billion. of the government’s reform program, Africa Railways’ liabilities totalling TradeArabia News Service EU fines Amazon $295 45 days Oman Oil Refineries and Petroleum In- million and eyes other dustries Company’s (Orpic) Mina al Fahal Refinery undergoes a major planned turn- big U.S. tech companies around and mainte- nance activity for 45 An Amazon warehouse days from October 3 BRUSSELS – Amazon was told last quarters of Amazon’s profits were not you ownership,” Vestager said. She nies, rejected the finding and said it paying little or no tax. Luxembourg is to November 16, a week to pay about 250 million euros taxed,” Vestager said. Amazon said also welcomed the debate kicked off was looking at its legal options. also under EU scrutiny over tax deals report said. ($295 million) in back taxes to Luxem- it was considering an appeal. “We by French President Emmanuel Ma- European Commission President with fast food chain McDonald’s and bourg, the latest U.S. tech company believe that Amazon did not receive cron who called for more integrated Jean-Claude Juncker was prime min- French energy company Engie. to be caught up in a European Union any special treatment from Luxem- corporate tax regimes in Europe, aim- ister of Luxembourg for almost two Luxembourg has appealed against crackdown on unfair tax deals. bourg and that we paid tax in full ac- ing to close the loopholes used to re- decades until 2013 and has been a ruling in 2015 that carmaker Fiat The fine was much lower than some cordance with both Luxembourg and duce tax bills. Amazon revamped its criticized for his role in enabling the should pay it back taxes. As well sources close to the case had ex- international tax law,” Amazon said European tax practices in 2015 so many tax deals that are now being as Ireland, tax for multinationals in pected and is only a fraction of the 13 in a statement after the announce- that it can book sales and pay taxes in unraveled. He denies doing anything Belgium and the Netherlands have billion euros that Apple Inc APPL.O ment. Amazon shares were little Britain, Germany, Spain and Italy in- wrong and says the Commission is also come under Commission scru- was ordered to pay to Ireland last changed in early Wednesday trading. stead of channeling all sales through committed to ensuring fair taxation. In tiny. “Luxembourg has been fully co- year. EU Competition Commissioner Though the EU has taken on sev- Luxembourg where it is headquar- 2014, Luxembourg made international operating with the Commission in its Margrethe Vestager, who has other eral U.S. tech companies, both in tered, a move that may raise its tax headlines in the wake of the publica- investigation and is strongly commit- big U.S. tech companies in her sights, antitrust and in tax avoidance cases, bill. tion of “LuxLeaks”, documents that ted to tax transparency and the fight has taken a tough line on multination- Vestager said that her approach was Luxembourg, whose tiny economy showed how large accounting firms against harmful tax avoidance,” the al companies’ approach to tax. “Lux- not biased against foreign compa- has benefited from providing a Euro- helped multinational companies chan- country’s finance ministry said on embourg gave illegal tax benefits to nies. “This is about competition in Eu- pean base for multinational compa- nel proceeds through the country while Wednesday. Amazon. As a result, almost three rope, no matter your flag, no matter 83 billion cigarettes made in FY 2016-17, Eastern Company for Tobacco Al Jarboo named DMCC named world’s new Sabic chairman no. 1 free zone by FT Dubai Multi Commodities Centre (DMCC), and its member companies have emerged as a a leading Free Zone for trade and enterprise in major contributor to Dubai’s economy with a GDP Saudi Basic Industries Corpora- Bin Thenayan Al-Saud. Dubai, UAE has been named World’s No. 1 Free contribution of 9.6 per cent. Winning ‘Global Free tion (Sabic), a leading petrochemicals As part of the top management-level Zone’ ‘by Financial Times’ fDi Magazine, three Zone of the Year’ for the third year in a row is an conglomerate, in a major revamp has changes, Sabic has named Yousef bin years in a row. honour and a tribute to the over 13,700 compa- appointed Dr Abdulaziz bin Saleh bin Abdullah Al Benyan as the new vice A total of 60 global Free Zones were evaluated. nies which make up the DMCC Free Zone and Mansour Al Jarboo as its new chairman chairman and CEO, said the company Ahmed Bin Sulayem, executive chairman, contribute to our success every day, driving the replacing Prince Saud bin Abdullah in a filing to the Saudi bourse Tadawul. DMCC, said: “Shaping the future of trade, DMCC next wave of growth and innovation”. Ahmed Bin Sulayem

www.meobserver.org 4 MENA Region 11 Oct. 2017 reasons why you should not invest in bitcoins, cryptocurrencies

Bitcoin7 is a worldwide cryptocurrency and digital pay- 5. The issue of legality ment system called the first decentralized digital currency One major hurdle in the path of Indian investors who as the system works without a central repository or single are interested in investing in cryptocurrency is the confu- administrator . sion about its legal status. As cryptocurrencies are not It was invented by an unknown programmer, or a group recognised by the Reserve Bank of India (RBI) or any of programmers under the Name "Satoshi Nakamoto" other authority in India, as a ‘currency’. In December and released as an open-source software in 2009. 2013, the RBI issued a press release cautioning us- The system is peer-to-peer and transactions take place ers, holders and traders of virtual currencies, including between users directly, without an intermediary. These bitcoins , legal, customer protection and security related transactions are verified by network nodes and recorded in a risks. In its latest press release dated 1 February, 2017, public distributed Ledger called a "blockchain" .. the regulator has further stated that it has not issued li- When Vivek Pethe read that the price of a bitcoin had cences to companies for trading in any virtual or digital surged five times between currencies., that the user, holder, investor, trader, etc. January and September 2017, he couldn’t resist jump- dealing with virtual or digital currencies will be doing so ing on the cryptocurrency bandwagon. Pethe started small at their own risk. in June 2017, he invested Rs 11,000 in bitcoins and an- 6. Ponzi schemes abound other Rs 15,000 in ATC Coin, an Indian cryptocurrency. Aside from the operational issues of trading in crypto- Although his Rs 15,000 investment in ATC Coin quickly currencies, there is also a high risk of fraud. There is still grew to Rs 1.82 lakh, Pethe started having doubts when a good deal of misinformation and lack of clarity regard- he tried to withdraw Rs 5,000 from his holdings. ing bitcoin trading, and fraudsters have taken advantage He was unable to execute the sell order smoothly. The Bitcoin is a worldwide cryptocurrency and digital payment system called the first of this to launch Ponzi schemes, which promise guaran- computer screen just flashed ‘operational error’ mes- teed high returns. The growing use of virtual currencies sages. When that was resolved, he was finally able to sell 1. Extreme volatility that it is not controlled by any government and so, it is in the global marketplace makes it easy for miscreants to them, the money wasn’t credited to his bank account right Investing in cryptocurrencies involves very high risk, ‘democratic’. Therefore, cryptocurrencies don’t fall into lure investors into Ponzi schemes. Investors should be away. as prices have been extremely volatile. Many experts the ‘currency’ category either. “It can be very risky for careful to steer clear of such unrealistic promises. While this incident prompted Pethe to sell his bitcoin are skeptical about bitcoin as an investment primarily businesses, industry and people to trade or invest in bit- 7. Prone to illegal activity stash immediately and vow to steer clear of such invest- because there is nothing for them to analyse, as there coins as it is just a formula, not backed by any tangible Due to the lack of government control, terrorists and ments in the future, cryptocurrency exchanges claim that isn’t enough of an ecosystem surrounding bitcoins to al- asset, but by sheer demand. extortionists are also utilising the cryptocurrency space around 2,500 new users in India are entering the market low fundamental analysts to study it as an investment. 3. Don’t invest if you don’t understand to their advantage. Bitcoins users on either end of a every day, Bitcoin is fraught with risks and not backed People are therefore investing with imperfect information Some global bankers and experts have warned inves- transaction can remain relatively anonymous and cyber- by any tangible asset. But the number of investors is still and joining the herd of speculators. Since these cryp- tors against investing in cryptocurrencies, because they criminals have found ways to mask their addresses, so growing, which is a concern.” tocurrency prices are not regulated. This might lead to are of the opinion that it is nothing but a bubble that is just it can be difficult for government authorities and compa- “Investors haven’t seen such high returns from other in- formation of a bubble that will eventually burst and cause about ready to burst. Jamie Dimon, CEO, JP Morgan, for nies to trace such illegal activities . vestments within such a short span of time. So many of widespread losses. instance, has recently expressed his doubts about the Incidents like this make it abundantly clear that it’s them are tempted to try it out, hoping to make quick invest- 2. Neither a commodity, nor a currency value of bitcoins, saying “It’s worse than tulip bulbs. much more difficult to track illegal activities in the cryp- ment returns. The lack of clarity about its origin is another big issue 4. An unregulated space tocurrency space. Since there is a lack of information BITCOIN PRICE SHOT UP 750% IN A YEAR, But prices related to bitcoin. like gold, silver, etc. commodities were Unlike other investment avenues, cryptocurrencies are not about the trading parties, such a peer-to-peer non-reg- fell 30% in recent weeks following reports from China giving used as currencies. Then came currencies printed by regulated by government entities or banks, as if we buy some- ulated system may expose the investors to unforeseen its back to Bitcoin, cryptocurrency prices are slowly starting governments (or central banks) and these are called ‘fiat thing with a credit card and get ripped off, we can call the bank risks including breaches of anti-money laundering and to stabilise. Should investors use this crash as an opportu- currencies’. Though its proponents claim that cryptocur- and ask to be compensated. But if we get ripped off in a bitcoin financing of terrorism laws. rency is ‘mined’ using complex mathematical formulae, transaction, it is impossible to get the money back and therein nity to buy into the market, economists recommend knowl- By Mona Alam El-Din edge of these facts: they are reluctant to call it a commodity. They also claim lies the pain of investing through unregulated schemes.

THE HOLDING COMPANY FOR CHEMICAL INDUSTRIES (S.A.E.) GlassPoint Solar's Oman power plant EASTERN COMPANY (S.A.E.) project on track GlassPoint Solar, a leader in solar for the oil and gas industry, has an- Correction nounced the successful completion of the first block of its giant Miraah Adjustment on financial statements at 30/6/2017 solar plant, located at the Amal oil- after Usual General Assembly’s approval on 1/10/2017. field operated by Petroleum Devel- opment Oman (PDO). Construction started on Miraah, a Proposed Profits Appropriations Statement one-gigawatt solar thermal project, in November 2015 at the same oilfield for the Financial Period Ended as at 30/6/2017 in south Oman. Once completed, it will generate 1,021 MW of peak ther- Officials at the signing ceremony in Riyadh. mal energy, thus making it one of the (Per Thousand L.E.) world’s largest solar plants of its kind. Miraah comprises 36 standard greenhouse blocks built in a continu- ous sequence. In August this year, 2016/2017 Description 2015/2016 Saudi Modon, Huawei to develop the first greenhouse block was com- Total Subtotal Total Subtotal pleted as per schedule and on budget. The construction of the remaining blocks are on track. 2 978 426 Net profit 1 475 943 PDO selected GlassPoint to build 677 128 Add: Retained earnings 340 594 smart industrial cities Miraah following the success of its Net Distributable profit pilot plant in Oman, where it dem- 3 655 554 1 816 537 The Saudi Industrial Property Authority (Mo- sumption operations. Reserves onstrated the reliability and cost ef- don) has signed an agreement with Saudi Hua- Al Salem said the project would be launched fectiveness of its solar thermal tech- 147 728 Legal reserve 2 897 40 wei to transform its industrial cities into smart soon after Modon completes the designs and nology for oilfield applications, said 590 914 Statutory reserve 2 897 40 industrial cities to keep abreast of developments prepares specifications and selects contractors. a statement from the company. and renaissance. "The implementation of the project will be Capital reserve 27 241 GlassPoint pointed out that its 238 57 The move is aimed at enabling the factories to carried out in a phased implementation system, seven MW pilot project for PDO had 210 004 Other reserves (profits 813 78 automate their operations and utilize advanced to ensure cost rationalization and provide suf- been operating since 2013 and this adjustment) technologies in facilitating management, con- ficient time for testing and trial and to benefit paved the way for Miraah, it stated. 972 503 6 880 99 trol, quality control and tracking its products from the experience while implementing it in "GlassPoint’s pilot project for Distributed Profits remotely, said a statement from Modon. other cities," he noted. PDO, which produces steam for oil Khalid Al Salem, the director general of Mo- Denis Zhang, the CEO of Huawei Tech In- production, has been operating suc- 1 150 000 Shareholders’ dividends 600 000 don, said that the planning and designing of the vestment Saudi Arabia, said: "As one of the cessfully for more than four years. (L.E. 11.5 per share) project has already started in Riyadh 2nd. In- leading smart city solution providers, Huawei During this time, we worked closely 1 70 000 Employees’ profits 1 350 00 dustrial City by focusing on security and safety is proud to be a strategic partner of Modon in with our partners at PDO to enhance appropriations services. various fields of the kingdom's Information the technology for oilfield deploy- "Fiber optic networks will be built and CCTV and Communication Technology (ICT) needs, ment and improve overall cost ef- 21 213 Board of directors 8220 cameras installed, to monitor the traffic move- which play a vital role in supporting the Saudi ficiency as we scale by a factor of members remunerations ment and security, as well as the operation of Vision 2030." 100,” remarked Ben Bierman, the Youth and Sports Authority 972 8 electronic lighting poles within the city," ob- "Huawei puts all its advanced technological chief operating officer and acting 19 672 served Al Salem. innovations into the service of the kingdom, and CEO. 1 360 885 752 948 He pointed out that this step would be fol- we hope that this co-operation with Modon will GlassPoint Solar along with its part- 1 322 166 Profits carried forward 375 490 lowed by the implementation of some smart ap- be in the interest of providing more smooth, ner PDO has reduced costs by 55 to the following year plications for utilities, health and environment smart and digital services that delight the people per cent in the scale up of a massive desert solar project to produce steam 18 165 37 and engineering support, along with raising the of Saudi Arabia," he added.- 3 655 554 level of quality of services and sustainability used in thermal enhanced oil recov- and rationalization of energy and water con- TradeArabia News Service ery (EOR), he noted. TradeArabia News Service UAE opens online registration for VAT Oman in bid to attract business from Europe Amazon is trialing a new ser- zon, which allows sellers to full-scale logistics business that vice on the West Coast called store their goods in Amazon could rival UPS or FedEx, tak- AMAZON tests Seller Flex, which provides de- warehouses and choose be- ing more control of its sellers’ liveries for third-party merchants tween different logistics pro- deliveries is certainly a step in that sell goods on its platform, viders — including UPS and that direction. Seller Flex according to Bloomberg. The e- FedEx — to get their goods to It’ll help the company deliver commerce giant, which started customers. With Seller Flex, more of the goods sold on its to optimize testing the program in India two Amazon picks up the goods platform faster.The primary pur- years ago, plans to expand the from sellers’ warehouses, and pose of Seller Flex is to allow trials throughout the rest of the then decides the best way to third-party sellers on Amazon scheduling, US next year. route the goods to the cus- to deliver their goods to cus- Seller Flex takes delivery tomer. Amazon could route the tomers as quickly as possible. routing, and decisions out of the hands of goods through its own logis- Gaining a greater expertise in third-party merchants and puts tics network, which includes quickly delivering greater pack- costs for its own them into the hands of the e- 16 planes, 76 warehouses and age volumes would be essential commerce giant. Amazon al- thousands of delivery trucks, or if Amazon wanted to rival UPS or ready operates its own logistics to turn the deliveries over to Fe- FedEx. Amazon will start taking logistics network network for third-party sellers, dEx or UPS. While Amazon has ownership of more of the deliv- known as Fulfillment by Ama- denied that it wants to build a ery process.

www.meobserver.org 11 Oct. 2017 Technology 5 Using social media strategically can be an asset to untold growth Social media seems to be the best thing to happen to small businesses. It is essentially a free tool that almost everyone is using, a factor that can be a benefit and a curse. Forbes published a report on how you can make your business a success through the social media. Businesses of all sizes can now create major marketing campaigns on shoestring budgets. However, some businesses are killing their brand with poor marketing materials and no mar- keting strategy. They fail to develop a strategy behind their posting, refuse to invest in quality graphics and don’t engage with their community. They may not see a direct decline in business, but the energy spent posting content is not generating new prospects because people are looking at ill-conceived marketing — and deciding NOT to engage. There are a handful of essential elements that need to work together for your social media strategy to connect with your target market and generate quality leads for your business. Make sure your social media strategy isn’t suffering from these common mistakes: Cheap Or Ugly Graphics or watches your videos, they product/service. fers, advice and you name it a community manager, some- effectively reaching their target are trying to determine if this • Feature a profile of a mem- with people commenting and one within your organization audience, causing their mes- We live in a visual society product/service is talking to ber of your team. asking questions — but no re- should be tasked with moni- sage to fall on deaf ears. You where people like to look at them. It is important for view- No Connection With sponse from the business. In- toring and following up on can have great images, great pretty pictures. Even if they ers to see your content and be- Your Community evitably, the consumers begin the information that you post. content and be on standby to don’t read your content, im- come intrigued enough to click I am amazed at the num- talking to each other, which If you are a one-man shop connect with your community, mediate assumptions are the link, request more informa- seems to derail the conver- and getting a high level of but if you have not invested made about your business tion or call for an appointment. ber of businesses who fail to sation away from the busi- engagement, congratulations in reaching your target demo- based on the graphics you If you are getting a lot of views connect with their community. ness. Even if you don’t have because you’re doing some- graphic, then you have es- use. There are several free but few clicks, there is some- I see them posting ads, of- the resources to dedicate to thing right — but the next step sentially wasted many of your and low-cost platforms that thing in your messaging that is is to convert those leads into resources. allow you to create and edit not connecting with your audi- sales. Likes and comments Unlike traditional media ad- photos and videos for social ence. are warm leads because vertising that can be very hit or media posting. You may not No Content Consistency these are people who have miss, many social media ads have a lot of time or a staffer expressed some interest in are targeted and often allow to dedicate to this task, but at Posting consistently on social media can be drain- what you’re offering. Now, you you to pay per click so you are least one or two hours should must figure out through en- only spending money when be carved out each week to ing, but if you choose to use it as a part of your marketing gagement what it will take to prospects engage with your develop content for your mar- get them to buy. Not respond- content. Start small to see keting. If you’re a solopreneur, strategy, it is something that you need to do so strategi- ing or leaving them to find the which platforms and message- you may be thinking you don’t answer themselves is a poor types your audience is most have time to do this. My ques- cally. Failure to do so makes your brand seem disengaged. lead-conversion strategy. You likely to engage with, and then tion is, do you have so much would not do that to someone build from there. business that you don’t need Even if you only post once a day or every few days, that outside your office building In theory, social media is the new clients? trying to get in the door, so great equalizer for many in- No Design Consistency helps to show that you are taking a step to remain con- why do it to someone trying to dustries. It gives businesses of Is your business traditional, nected to your audience. Not gain virtual access to you? all sizes the potential to con- modern or contemporary? Is sure what to post? Don’t let nect with their target custom- your target audience youth- No Investment To Reach ers all over the globe. that ruin your schedule. You Your Target Audience ful or experienced? Are your could: However, doing so requires products/services designed • Link to articles that may a strategy to engage pros- for corporate consumers or Let’s face it: Just because pects and a plan to follow up provide helpful information to you build it or post it, they are household consumption? Be- your community. with those who seem interest- lieve it or not, those elements not going to come. You need ed in your offer. Not making an • Share inspirational quotes. to go out and find them. Be- should make a difference • Ask a question that can investment of time or finances when designing your social cause so many social media into your social media can be help in the research and de- platforms are free, many busi- media images and messages. velopment of your next prod- killing your business, but using When someone looks at your ness owners have failed to al- social strategically can be an uct/service. locate financial resources to images, reads your messages • Ask for reviews of a current asset to untold growth.

Electric Cars May Rule the World’s Roads by 2040 Uber’s board agrees to go public by 2019 Uber’s board resolved to go public ly, the board annulled the special voting seats. by 2019. Last month, new CEO Dara privileges associated with the “supervot- The announcements come just a week Electric vehicles will one day billion tons a year, equivalent to 60 Khosrowshahi said that he would aim to ing” shares belonging to the company’s after Reuters reported that rival Lyft is push gas- or diesel-powered ones percent of total U.S. emissions to- go public in the “next 18 to 36 months,” earliest employees, including controver- exploring hiring an advisory firm to help to the curb—but how soon? Soon- day. Other studies project a slower but the board’s new decision provides sial former CEO Travis Kalanick. That with its own IPO. Uber likely does not er than you might think, according rollout, although newer ones tend be a more concrete target. Khosrowshahi move diminishes Kalanick’s control at want to IPO much after its competitor to researchers at the International more aggressive. Bloomberg New also said that Uber must cut its losses the company, where he and his close at the risk of driving up interest in Lyft Monetary Fund and Georgetown Energy Finance recently bumped before going public, so it will need to associates still held major sway after he among investors seeking to get an early University: Based on how quickly up its estimate of the EV market significantly improve its finances in the stepped down from the CEO role thanks jump in the expanding ride-hailing indus- horses and buggies disappeared share in 2040 from 35 per cent of next year to meet its 2019 target for an to their supervoting shares and board try. The SoftBank-Dragoneer investment in the early 1900s, the research- all new car sales to 54 percent. Re- initial public offering (IPO). The board and governance changes should help ers argues, that more than 90 per thinkX, an independent think tank, also cleared the way for a massive in- the company move towards its IPO goal. cent of all passenger vehicles in the is even more bullish, saying most vestment by Japanese tech conglomer- One early investor announced plans to U.S., Canada, Europe and other U.S. vehicles will be electric by ate SoftBank. The previously reported launch a class action lawsuit against developed countries turn electric by 2030, just 13 years from now. The investment could be worth more than the company for stripping the privileges 2040. authors of the IMF-Georgetown $10 billion, according to media outlets. around supervoting shares. However, In light of commitments, ven- working paper, “Riding the Energy That will include a direct investment of decreasing Kalanick’s influence was tures and investments into electric Transition” base their own optimism around $1 billion by SoftBank and part- likely necessary to convince potential vehicles by governments and car on an analysis of past technology ner Dragoneer Investment Group, Busi- investors that Uber is turning the chap- companies, the study suggests the transitions, especially the one from ness Insider reported. Beyond the direct ter on its past controversies and making prospects for weaning the transpor- horses to cars. “We were surprised investment, SoftBank and Dragoneer serious changes to its much-criticized tation sector off carbon. Out of the at how fast cars replaced horses as will purchase shares from existing in- culture. Meanwhile, the new investment one billion registered vehicles on the main means of transport in the vestors and employees to up their total gives Uber some extra funds to invest in the road today, only two million are early 1900s,” says IMF economist stake in Uber to about 15%. The board defending its declining market share in electric (with one million of those in Fuad Hasanov. “It happened in only also made significant changes to the the US while it fills vacant executive po- China). But if EVs catch on as fast 10 to 15 years in spite of the many company’s governance. Those changes sitions and formulates a strategy to bal- as the researchers project, it could hurdles at the time.” By compari- included expanding the existing number ance its finances before its IPO. reduce oil use by 21 million barrels son, the barriers to adopting electric of board seats from 11 to 17. Additional- a day and cut CO2 emissions 3.2 vehicles today seem much smaller. Glencore buys Chevron’s South African assets LONDON (Reuters) - Commodities trader and miner core said it had agreed to buy Chevron’s 75 percent Glencore has swooped in to replace China’s Sinopec stake in its South African subsidiary and its Botswana as the buyer of Chevron’s South African and Botswana interests for a combined $973 million. The remaining assets after reaching a deal with local investors. 25 percent stake will stay with a consortium of Black The assets include a 100,000 barrel-per-day oil refin- Economic Empowerment shareholders and an em- ery in Cape Town, a lubricants plant in Durban as well ployee trust. as 820 petrol stations and other oil storage facilities. An industry source familiar with Glencore’s mergers World 11 Oct. 2017 It also includes 220 convenience stores across South and acquisitions activities said the company was look- Africa and Botswana. In its statement on Friday, Glen- ing to bring in a partner. www.meobserver.org 6 Aramco signs five key deals with Russian firms Saudi Aramco has launched a wide (the international marketing and Saudi Aramco considered this range of strategic business collab- trading arm of Lukoil – one of Rus- as key drivers of future success, orations with Russian companies sia’s largest oil companies) which and Saudi Aramco’s goal is to be with the signing of five memoranda will give Saudi Aramco and the a world-leading creator of energy of understanding (MoUs) covering kingdom access to Mediterranean and chemical technologies. Amazon’s rumours on progress refineries where Russian companies “We have already established many areas of energy and manu- have been expanding. The proximity eight research centres around facturing sectors and innovation. of the Mediterranean with the Red the world that complement our in its plans to dominate The MoUs were signed as part of Sea provides an important strategic main research facilities in Saudi the Royal visit to Russia by Saudi supply point to the kingdom. Arabia. Considering Russia’s Arabia’s King Salman bin Abdulaziz * MOU with Gazprom Neft – Tech- considerable strengths in sci- online distribution causes Al-Saud. nology and R&D collaboration: The ence and technology, as well The MoUs inlcude: MoU with Gazprom Neft (a subsidi- as highly talented researchers, * MOU with Saudi Public Investment ary of Gazprom and Russia’s fourth scientists and engineers, we are alert within the Drug Sector Fund and Russian Direct Invest- largest oil producer) will involve exploring collaboration in R&D (Reuters) - Shares of drug retailers Wal- ment Fund – Investment in Energy technology and R&D collaboration field,” he said. greens Boots Alliance Inc, CVS Health Services & Manufacturing: The MoU as well as training. Trading, according to Nasser, Corp and Rite Aid Corp tumbled last will pave way for new business de- * MoU with Russian Direct Invest- would also be an integral enabler week after reports that Amazon.com velopment in the energy value chain, ment Fund and SIBUR – Strategic Amin H Nasser, Saudi Aramco president. to the strategic partnership with Inc was looking to make a move into oilfield services and manufacturing, marketing for petrochemicals: The Russian entities involving oppor- selling drugs online. the Ras Al Khair maritime yard de- MoU will enable all parties to jointly tunities in and refined products Amazon is reported to be in discussions velopment and potential partner- evaluate potential opportunities Business Investment Forum or- downstream petrochemicals; swaps, trading logistics, shipping with mid-market pharmacy benefit man- ships in the Energy Industrial City for cooperation in the petrochem- ganised by the Saudi Arabian technology, research and innova- and storage facilities, and new agers and has been hiring talent to as- developed by Saudi Aramco. icals sector, including marketing General Investment Author- tion; trading; and climate change market venturing. sess the drug retailing market for its en- * MOU with Gazprom – Gas Collab- of petrochemicals products, both ity (Sagia), the Council of Saudi and carbon management. He also highlighted Saudi Ara- try, brokerage firm Leerink analyst Ana oration: The MoU will enable Saudi on in Russia and Saudi Arabia. Chambers, and the Russian Di- Nasser also provided strategic mco’s industrial localisation pro- Gupte wrote in a note to clients. “We Aramco and Gazprom, Russia’s Meanwhile, Amin H Nasser, rect Investment Fund (RDIF). insights on the future of energy gram In-Kingdom Total Value are convinced that AMZN will almost premier gas company to develop a Saudi Aramco president and Nasser said vast opportunities and how Saudi Arabia and Rus- Add, or iktva, as another area of certainly enter the drug distribution val- significant business portfolio in in- CEO said the rich endowment of for collaboration between com- sia could pool their sizable re- opportunity for Russian services ue chain within 2 years, evolving into ternational upstream gas, allowing resources of both Saudi Arabia panies from Saudi Arabia and sources together in driving the and manufacturing companies to a more disruptive offering over time,” the introduction of new vendors and and Russian can enable com- Russia are created by both the global energy transformation by collaborate with Saudi partners. Gupte said. Amazon’s entry into phar- suppliers to the kingdom’s market. panies from both countries to kingdom’s existing economic pil- factoring in alternative energy “Considering the large oil and Among the elements of the MoU are collaborate in creating synergies lars and the development and di- which can complement oil’s ex- gas resources possessed by our maceuticals has been long rumored in LNG trade, LNG value chain and ex- for a sustainable energy future versification envisaged by Saudi isting preeminence, particularly two countries, we also have a the media. ploration / development as well as with business and operational Vision 2030. gas and downstream / chemi- common interest in strengthen- On Friday, CNBC reported that the e- product storing. initiatives driven by technology, Nasser outlined a number of are- cals. ing oil’s position and there are commerce giant would decide before * MOU with LITASCO – Trading Col- research and innovation. as for potential collaboration with Nasser stressed that all these numerous to collaborate in these Thanksgiving whether to move into sell- laboration: The MoU will see collab- He was speaking at a panel dis- Russian companies in industrial could only be achieved with tech- areas,” he said. - TradeArabia ing prescription drugs online, citing a oration with Swiss-based LITASCO cussion at the Saudi-Russian localization; international gas; nology, research and innovation. News Service company email and a source familiar with the matter. Amazon does not com- ment on rumors or speculation, a com- pany spokeswoman said. Shares of drug retailers Walgreens closed down 5.8 percent, Rite Aid 4.9 percent and Apple allows Uber ‘unprecedented’ access to a CVS Health 4.9 percent. secret back door that can record iPhone screens First EV charging station Uber’s iPhone app has a secret the App Store, and it has a opens in Sharjah back door to powerful Apple history of pushing boundaries features, allowing the ride- when it comes to building soft- The Sharjah Electricity and Water Au- hailing service to potentially ware that may break laws or thority (Sewa) inaugurated the first elec- be unethical. After Uber was record a user’s screen and tric vehicle charging station, backed by found to have used internal solar panels that operate a photovoltaic access other personal infor- Apple abilities to tag and track Abraaj Group individual iPhones even after system, a report said. The station was mation without their knowl- inaugurated by Dr Eng. Rashid Al Leem, edge. This access to special they were wiped, the former Uber CEO Travis Kalanick was chairman of Sewa, Khalid Mohammed invests in Pakistan’s iPhone functions — which are summoned to Apple’s head- Al Ali, secretary-general of the Sharjah so powerful that Apple almost quarters. There, Apple CEO Urban Planning Council, a number of always keeps them off-limits Tim Cook scolded him and, in directors and heads of departments, Entertainment sector to outside companies — is not a private meeting with Kalan- reported Wam, the Emirates official disclosed in any consumer- ick, threatened to pull the Uber news agency. Dr Al Leem said that the The Abraaj Group, a leading inves- app from the App Store, The Authority seeks to deploy charging sta- tor operating in growth markets, an- facing information included New York Times reported. The tions for electric vehicles to reduce car- nounced it has invested through its with Uber’s app. Although there meeting reportedly took place bon emissions and pollution. He added fund, in Cinepax Limited, Pakistan’s is no evidence that Uber used in early 2015, around the time that the establishment of such a station leading cinema operator. Arif Baig- its access to take advantage Apple launched the Apple comes in line with the directives of Dr mohamed and Pir Saad Ahsanud- and turned on by outside app this permission because early Watch. “I guess there is some of the iPhone features, the Sheikh Sultan bin Mohamed Al Qasimi, din established Cinepax in 2006 and developers. But there are cer- versions of Apple Watch were kind of extremely special re- Supreme Council Member and Ruler revelation that the app has tain entitlements used only by unable to adequately handle launched their first multiplex in 2007. lationship there, considering of Sharjah, to adopt the most sustain- access to privileged Apple code Apple, giving the company’s the level of map rendering in Since then, the company has es- Apple granted them exclusive able methods in Sharjah, which support software tight integration with the Uber app,” an Uber rep- access to a privileged IOKit tablished itself as the market leader raises important questions its position as an environment-friendly and today has 29 screens in 12 loca- the iPhone. These bits have resentative, Melanie Ensign, API a little while after they for a company already under names that start with “com. emirate. tions. With Abraaj’s investment, Cine- told Business Insider. “Subse- were abusing other unrelated investigation for other contro- apple.private,” and they are quent updates to Apple Watch IOKit APIs in violation of the pax plans to develop 80 new screens versial business practices. considered so sensitive that and our app removed this de- across multiple locations over the next App Store rules (with no re- any third-party app found using pendency, and we’re working percussions at all),” Strafach four years and also grow other enter- Uber told Business Insider the them is rejected from the App with Apple to remove the API said. The deception apparently tainment related ventures, said a state- code was not being used and Store. After digging around in completely.” Lots of other iOS didn’t scare Apple. Texts pub- ment. Pakistan’s entertainment industry was essentially a vestige of the code of Uber’s app, Stra- developers would like special lished as part of a lawsuit re- has significant growth potential, under- an earlier version of its Apple fach discovered it used an access to private Apple entitle- vealed that Kalanick privately pinned by strong demographic drivers, Watch app. entitlement called “com.apple. ments for a variety of purpos- said he continued to meet with positive changes in regulatory frame- However, it has set off alarm private.allow-explicit-graphics- es. The one Uber was using, Cook — including, suppos- works, and a growing number of malls bells among experts. “Granting priority.” He added, “It is very for example, could be used to edly, once in May 2016. Ap- that can support cinema multiplexes. In such a sensitive entitlement to odd to see Uber as the only record a user’s screen, said ple became an Uber investor addition, the current low ratio of cine- a third party is unprecedented, app (I checked tens of thou- Thomas Jansen, the founder of through its investment in the ma screens (0.5 per million population) as far as I can tell — no other sands of other apps using the security research company Chinese ride-hailing company and the opportunity to revitalise the lo- app developers have been my company’s internal data Crissy Field. “Imagine any app Didi Chuxing. In 2016, Didi cal film industry represent a compelling able to convince Apple to grant set derived from the App Store) would be able to use an entitle- merged with Uber’s Chinese investment rationale. Abraaj will sup- them entitlements they’ve besides Apple’s own apps ment like that and just record subsidiary. Kalanick resigned needed to let their apps utilize port the company in establishing inter- granted access to this sensi- your screen without you know- in June. Uber’s current CEO, certain privileged system func- tive entitlement,” Strafach said ing,” he said. That’s why Apple Dara Khosrowshahi, has not national standard multiplex cinemas in tionality,” Will Strafach, a secu- in an email. Another person doesn’t allow just any company new and upcoming locales. The group yet publicly said anything about rity researcher who discovered said that out of the top 200 free to use private entitlements. Ap- the $69 billion startup’s rela- places a high priority on environmental, the situation, told Business In- apps, no other used private Ap- ple didn’t comment. But one tionship with Apple, but he has social and governance considerations sider. Nearly every iPhone app ple entitlements. reason Apple may have let addressed the company’s cul- and will actively assist with job creation uses what is called an “entitle- Uber says Apple gave it per- Uber use this sensitive piece ture of rule bending. A recent and training of multiplex staff, as well ment” — basically, a way for mission to use the private en- of code — which most likely change to iOS, the software as strengthening governance and op- software to enable features titlement and that it used it for would have needed approval that powers iPhones, allowed erational efficiencies to achieve best- like the camera or Apple Pay an earlier version of its Apple from senior management. Uber users to prevent the app in-class operating standards, he said. on iPhones and iPads. Most Watch app to render maps on Uber has previously been from collecting their location of these can be easily found the iPhone. “Apple gave us caught violating the rules of while they weren’t using it. Abu Dhabi-Saudi non-oil trade tops $2.5bn in 7 months The total of the value of the trade of non-oil goods between Abu Dhabi and Saudi Arabia reflects countries. Concerning the trade of non-oil goods between Abu Dhabi and Saudi Arabia reached the strong overall relationship between the UAE between the two sides, the value of Abu Dhabi’s around Dh9.5 billion ($2.58 billion) during the and Saudi Arabia on various levels, including in imports during the first seven months of the cur- first seven months of 2017, according to the lat- commercial co-operation. These commercial re- rent year reached Dh6.5 billion, equalling nine est statistics from the Statistics Centre-Abu Dha- lations have the potential for further growth and per cent of the emirate’s total imports during the bi (SCAD). This amount represents around 10 increased percentages during the coming pe- period from January until last July. The value of percent of Abu Dhabi’s total international trade riod, they added. Saudi Arabia ranks first among the non-oil goods which were re-exported from in non-oil goods, during the period from January the countries in the region with commercial re- Abu Dhabi to Saudi Arabia reached Dh1.51 bil- to July 2017, of Dh96.2 billion, reported Wam, lations with Abu Dhabi, a position it has main- lion by the end of July, while the value of exports the Emirates official news agency. Economic ex- tained for more than 10 years, according to the reached around Dh1.5 billion, according to the perts stressed that the continuing growth in trade SCAD’s report on the emirate’s trade with other data issued by SCAD. www.meobserver.org 11 Oct. 2017 Business Opportunities 7

Fire Safety & Security Water & Sanitation Fire Safety & Security Energy, Power, Fire Safety & Security Paper & Packaging Egyptian Company for Electrical and Client : General Authority for In- Client: Arab Contractors “Os- Pharmaceuticals Renewable Energy Client : Client : Dar El Tahrir Organization vestment & Free Zones man Ahmed Osman” Canal Address: 1353, Cournich El Nil - Client : Ministry of Housing, Civils for Printing & Publishing Branch Shubra - Cairo, Egypt & New Communities Client : National Authority for Address: Nasr City, Cairo Address: 111-115 Ramses Egypt’s Railways Address: www.arabcont.com Tender : 1) General tender No. - The Agency of New Menia City Tender : 1) General tender for Street, Cairo. Shoubra Tunnels - Cairo, Tel: 064/3364366 6/2017 for the supply of fire alarm Address: L10, Menia - Cairo De- Address: supply of fire fighting system at Tender : Supply of paper as the Egypt 064/3334367 system connected to controlling sert Road, Egypt Suez Free Zone (Port Tawfik) following: General tender for supply : EGP1,000 0100778034 pannel at the security room Tender : General tender for the Tender : Tender documents 1- 100 tons printing paper 70gm of batteries for the authority’s cars. Tender: General tender No. Tender documents: EGP2,000 supply of fire safety system at the A bid bond of EGP80,000 to be 70x100cm. 1/2017/2018 for supply and EGP80,000 to be administrative building of the city Tender documents: EGP500 submitted 2- 15 tons cocheit paper 115gm A bid bond of 17-10- erection of electromechanic submitted agency. A bid bond of EGP4,500 to be sub- Opening envelopes: 70x100 cm. 2017 at 12:00 noon equipment for the second - A discussion session to be held on Tender documents: EGP100 mitted 3- 6 tons cocheit paper 250gm phase of the project of water 8-10-2017 at 11:00 am. A bid bond of EGP4,000 to be Opening envelopes : 17-10-2917 2) General tender for supply of 70x100 cm. lines from Ismailia canal to Opening envelopes: 15-10-2017 at submitted development works of sanitary Tender documents: EGP300 potable water sation at 10th 12:00 noon Opening envelopes: 23-10-2017 tank at Adabia (Suez) free zone Opening envelopes : 18-10- Architecture & : EGP2,000 of Ramadan City - Sharkia 2) General tender No. 7/2017 for the at 12:00 noon Tender documents 2917 at 12:00 noon. Governorate execution process of dreadging a Urban Development A bid bond of EGP45,000 to be Opening envelopes: 22-10- well at Kabbari - Alexandria. submitted Energy, Power, 2017 at 1:00pm : EGP300 Opening envelopes: 18-10- Tender documents Water & Sanitation Client : Qalyubiya Governorate 2017 at 12:00 noon Electrical and A bid bond of EGP6,000 to be sub- - El-Khosos, Qalyoub and Shubra El Architecture & mitted Kheima areas Renewable Energy - A discussion session to be held on : Ministry of Water Resourc- Benha City - Cournich El Urban Development Client Address: Red Sea Governorate 8-10-2017 at 11:00 am. es and Irrigation Nil, Egypt Agriculture, Food Client : Opening envelopes: 15-10-2017 at - Mechanical Land Electrical De- Education Directorate Saudi Arabia’s Em- Tender : General tender No. PDP/ & Beverage Client : 12:00 noon partment. Address: Red Sea, Egypt. bassy DA2/FAO1 - Qalyoubia/works/D2- : Tafteesh El Ray Street, Tender : General tender No. El Nil Street, Engi- Address QAl2 for works of side streets paving Client : Cooperative Society for Address: Shoubra El Mazallat - Cairo 2/2017/2018 for the supply of neering Department Tel.: 02- with interlock tiles and canal cover- Agricultural Reforms Tel.: 02-22090794 electric equipment for the techni- 37625000 Information ing & lnds capping in Bahry Sekka Address: Meet Khalaf - Shebin el Fax: 02-22090976 cal education Hadid Area, Qalyoub. Koum, Egypt : EGP200 Tender : General tender for Technology (IT) Email: [email protected] : EGP1,000 Tender documents Tender documents Tender : Supply of 150 tons of yel- EGP22,000 to be the supply of processing and : International Bid- fi- - Information session will be held on A bid bond of Tender low corn and 100 tons soya beans submitted maintenance works for the nanced by Saudi Fund for Devel- 18-10-2017 Ministry of Telecommunica- Tender documents: EGP150 : 16-10- embassy’s building and the Client : opment - Loan No. 15/578 for the EGP150,000 to be Opening envelopes tions and Information Technology A bid bond of A bid bond of EGP12,000 to be 2917 at 12:00 noon. housing building and Garden supply of mechanical and electri- submitted (IT) submitted city building and social club cal department for the construc- Tenders to be submitted in two en- K28.5, Cairo/Alexandria Opening envelopes: 16-10-2017 building. Address: tion of new drain 7 drainage p.S. velopes (Technical & Financial) : US$100 Desert Road “Abou Rawash”. Architecture & Tender documents on turnkey basis. 12-11-2017 at 20-12- Opening envelopes: Opening envelopes: Tender : General tender No. : EGP2,000 12:00 noon. Urban Development 2017 Tender documents Energy, Power, 4/2017/2018 for the supply of pro- EUR7,200 + A bid bond of National Authority for cessing and guarantee of devices EGP1,20,000 to be submitted. Electrical and Client : Egypt’s Railways and data for Sinai Governorate. 40,000 to be submitted Architecture and : EGP2,000 Renewable Energy Shoubra Tunnel - Cairo, Energy, Power, Tender documents - A discussion session will be held Address: Urban Development Egypt A bid bond should be submitted on 26-10-2017 at 10:00 am. Electrical and as follows: Client : Cairo Airport Company Tender : General tender for the Opening envelopes: 20-12-2017 Qena Governorate Renewable Energy - EGP30,000 for items No. 1 Client : Cairo, Egypt construction of services complex at 12:00 noon. - Local Unit of Kous Center Address: - EGP 8,000 for item No. 2 Tel: 02-22655250 building at Bechteel - Giza, First Address: Kouse City, Egypt Ministry of Electricity - EGP5,000 for items No. 3 Tender : General tender for up- Phase. Client : Tender : General tender for Cour- and Renewable Energy - EGP 20,000 for item No. 4 dating and development works Tender documents: EGP2,000 niche El Nile & Kous City rehabilita- - Egyptian Electricity Trans- Opening envelopes: 29-10-2017 at Banking, Insurance of the electric station No. (2) and A bid bond of EGP20,000 to be tion and development mission Company (EETC) 12:00 noon & Finance raising its effectiveness submitted Tender documents: EGP150 Nasr City - Cairo Tender documents: EGP1,500 Opening envelopes: 18-10-2017 Address: A bid bond of EGP10,000 to be Tel & Fax: 22616537 A bid bond of EGP25,000 to be at 12:00 noon. National Bank of Egypt submitted Tender : Adjudication No. Client : submitted Healthcare, Medical 57, Behy El Din Barakat - A discussion session to be held on : 16-10-2017 12/2017/2018 for 2x750 + Address: 15-10-2017 Opening envelopes Architecture and 2x40 MVA - 500/220/66/22 KV Equipment & Services Street, El Nahda Square, Giza Opening envelopes: 18-10-2017 at Urban Development S/S East Qena GIS S/S Pack- Tender : General tender No. 12:00 noon. age (A) on turnkey basis, the 6/2017/2018 for the supply of Laboratory Equipment basic completion period is 18 Client : El Helal Hospital 6000 personal computer devices. & Services Client : Gharbia Governorate months. Address: 34, Ramses Street, Cairo Tender documents: EGP10,000 Housing & Civils Governorate 19-10-2017 Telecommunications, Tender documents: Tender : General tender for supply Opening envelopes: Address: Tanta, Egypt. of hospital’s needs of furnitures. General tender for: US$4,000 GIS & GPS Middle Egypt Flour Com- Tender : Tender documents: EGP5,000 Client : 1) The execution of administra- - A tendr security is pany A bid bond of EGP5,000 to be sub- tive building at Suiqa area, Kafr US$500,000 Banking, Insurance Client : Ministry of Telecommunica- Menia - Egypt : 4-12- mitted tion & Information Technology Address: Al-Zayat Opening envelopes Tender : General tender No. 2917 at 12:00 noon. Opening envelopes: 24-10-2017 at & Finance Smart Village, Cairo, Tender documents: EGP200 Address: 6/2017 for supply of laboratory 12:00 noon Egypt A bid bond of EGP17,000 to be equipments for the company’s Client : National Bank of Egypt Tender : General tender No. submitted 57, Behy El Din Barakat sectors. 2) The execution of development Address: 2/2017/2018 for supply of technical : EGP500 Printing & Street, El Nahda Square, Giza Tender documents works at berma, Tanta Security Services support for New Valley Governorate A bid bond of EGP25,000 to be Publishing Tender : General tender No. Tender documents: EGP500 Tender documents: EGP80 submitted EGP7,500 to be 5/2017/2018 for the supply of the A bid bond of EGP11,000 to be 17-10-2017 A bid bond of Egyptian, Japanese Univer- Opening envelopes: submitted Client : bank’s needs of office furnitures. submitted at 12:00 noon sity for Science & Technology : 30-10- Bibliotheca Alexand- Tender documents: EGP5,000 - A discussion session to be held on Opening envelopes Client : Address: Borg El Arab City, Alex- 25-10-2017 15-10-2017 2917 at 12:00 noon rina Opening envelopes: andria 16-10-2017 at El-Shatby - Alexan- Opening envelopes: Address: Tender : General tender for supply 12:00 noon. Entertainment, Media, Printing & Publishing dria of security & defence works. Tender : General tender No. Tender documents: EGP350 Printing & Publishing Sports & Leisure Al-Ahram Organization 1/2017 for the supply of print- A bid bond of EGP12,960 to be Water & Sanitation Client : AlGalaa Street, Cairo ing works of visits encyclope- submitted Dar El Tahrir for Printing & Address: Client : Sports Aviation Club Opening envelopes: 25-10-2017 Publishing : Benha University Client : Tender : General tender No. dia. Client 14, Ahmed Fouad : EGP500 “Egyptian Advertising Company” : Benha City Address: 2/2017 for the supply of 338 tons Tender documents Address Street, Saint Fatima Square, Heli- of printing ink as follows: EGP21,000 to : General tender No. A bid bond of Address: 111-15 Ramses Street, Tender opolis, Cairo, Egypt 1. Black Commander 80 (over be submitted Security Services Cairo 5/2017/2018 for the supply and erection for the supply and erection Tender : General tender for sup- shot) Oty 70 tons Colora M/C (Un- Opening envelopes : 16-10- Tender : General tender for sup- of water purification unit for the Fac- ply of gem sports apparatuses for der shot) Oty 70 tons 2917 at 12:00 noon Ministry of Housing, Civils & ply and erection of printing ma- Client : ulty of Agriculture the club’s branchat New Cairo. 2. C Y A N Commander 80 (over New Communities chines, outdoor, width 5 metrers : EGP100 Tender documents: EGP500 shot) Oty 30 tons Colora M/C (Un- - Agency of Sadat City Development U.V. Tender documents : EGP5,000 EGP1,500 to be sub- A bid bond of EGP10,000 to be der shot) Oty 36 tons K93, Misr/Alexandria De- Tender documents A bid bond of Fire Safety & Address: EGP250,000 to be mitted submitted 3. Magenta Commander 80 (over sert Road A bid bond of 17-10-2017 shot) Oty 30 tons Colora M/C (Un- Security submitted Opening envelopes: 16-10-2017 at Opening envelopes: Tender : General tender for supply at 12:00 noon der shot) Oty 36 tons Opening envelopes : 22-10-2917 12:00 noon. of security on land of square 50,000 at 12:00 noon 3. Yellow Commander 80 (over shot) Oty 30 tons Colora M/C (Un- Client : Egyptian Company acres at Sadat City for the period of Energy, Power, For Metro 2 years. der shot) Oty 36 tons : EGP500 Hardware Equipment Tender documents: EGP300 Hammat Al Kobba, Tender documents Electrical and Energy, Power, Address: A bid bond of EGP11,000 to be Opening envelopes : 2-11-2917 Cairo Renewable Energy submitted Electrical and at 1:00 pm Dar El Tahrir Press “El- Tender : General tender No. Opening envelopes: 22-10-2017 at Client : West Delta Company Trans- Gomhouria” Client : Renewable Energy 32/2017 for the supply of con- 12:00 noon. mission of Electricity Address: 111-15 Ramses Street, sulting works for the develop- Address: 7, Riad Street, Glim, Alex- Architecture and ment of fire safety system of Cairo andria Client : Ministry of Transport Urban Development Tender : General tender for sup- the 2nd line. Postponement Tender : General tender No. - National Authority for Egypt’s : ply of PC’s and printers 5/2017/2018 for the supply of (1) Railways Tender documents : EGP500 Client : Qlayoubia Governorate Tender documents complete pumping unit (Mazout) Shoubra Tunnel, Cairo, EGP10,000 Egyptian company for telecom- : 16-10-2017 Address: - El-Khosoos, Qalyub and Shbra Opening envelopes with all spare parts for Didi Krer Egypt. A bid bond of EGP50,000 to munications announces the post- at 11:00 am. El Kheima areas be submitted electricity station Tender : Supply of (25) motors. ponement of its general tender : EGP500 Address: Benha City, Cournich 1-11- Tender documents: EGP500 Tender documents Opening envelopes: ref. 421/2017/1 for supply of jelly EGP4,000 to be El Nil, Egypt. 2017 at 12:00 noon cables to 15/10/2017 at 1:00 pm in- A bid bond of EGP8,000 to be sub- A bid bond of submitted Tender : General tender No. stead of 24-9-2017 at 12:00 noon. Water & Sanitation mitted Opening envelopes : 25-10-2017 Opening envelopes : 19-10-2917 PDP/DA2/FAO1-Shalyoubeya/ at 12:00 noon ubrks/D2-QAl2 for works of side streets paving with interlock, tiles Client: Beheira Company For Wa- The Middle East Observer does not have any ter & Sanitary Drainage Fire Safety & Security and canal covering 7 landscap- Address: El Gish Street, Daman- Postponement ping in Bahry Sekka Hadid area responsibility for any mis- hour, Egypt - Qalyoub. : EGP1,000 Tender: General tender No. Egyptian Airports Company an- Client : Helwan Company For En- Tender documents takes, errors or changes - Information session will be held 1/2017/2018 for the rehabilita- nounces postponement of its gineering Industries in the tenders’ information. Such errors tion & rennovation works for the tender No. 5/2017/2018 for oc- Address: Ein Helwan - Cairo, on 18-10-2017 pumping line of Mahkama to cupancy & exploitation of duty Egypt A bid bond of EGP150,000 to be are the reponsibility of the companies Ledia Station at Mahmoudia. free shops in travel laounge & ar- Tender : General tender No. submitted Tender documents: EGP1,500 rival hall in new terminal in Borg 1/2017 for supply of 300 tons fire - Tenders to be submitted in two Extingusher powder A.P.C. that publish these tenders. Opening envelopes: 17-10-2017 El Arab International Airport on envelopes (technical & financial) 4-10-2017 from 7-9-2017 to 5-11- Tender documents: EGP1,000 : 12-11- 19-10-2017 Opening envelopes 2017 at 12:00 noon. Opening envelopes: 2917 at 12:00 noon www.meobserver.org 8 11 Oct. 2017

Numerous major achievements were witnessed in the Arab Drug Company for pharmaceuticals and Medicinal plants Rehabilitation and renovation of buildings and production units – plaster machine - Extraction apparatus through the use of supercritical liquids technology A hike in export sales …. Registering 26 new products in Arab Dr. Tarek Abd Al-Rahman : and African countries The Chairman & Managing Director The company’s compliance Starting the production of with ISO certificates "metrovent-plus" (9001-18001-14001-22000) in cooperation with UNIDO

Arab Drug Company ADCO has made Metrovent-plus has achieved objectives stated in the ucts to Sudan, Jordan, Iraq, Tanzania, a big break in its production and sales as Dr. Tarek Abd Al-Rahman, signed protocol with the company, Car- Cameroon and Kuwait. Dr. Tarek Abd Al-Rahman : it has been implementing an integrated The Chairman & Managing Director diff University, 12c laboratories and Fari The net profit before taxes plan to develop and update its production said that the company's directors suc- Company (Technology transfer group). Good manufacture conditions divisions to the standards of CGMP, cur- ceeded in registering metrovent-plus ADCO Company's aerosol is being Dr. Tarek Abd Al-Rahman stressed increased from LE 24 rent good manufacturing practice. The medicine; the necessary preparations manufactured with high technology ac- on the company's compliance to the ap- tablets division has witnessed some new are being set to start the production cording to the standards of CGMP, he plication of CGMP and GSP, good stor- million in 2015 to LE 33 machinery such as: fast drying oven, tab- process in cooperation with UNIDO, added. age practices, as it is certified to ISO let press machine and Rivo tablet prepa- United Nations Industrial Development ADCO has succeeded in registering 14001/2004 in the environment field, million in 2016, with an ration machine. In addition, mobilization Organization. ADCO produces aerosols "Vental" medicine in UEA which pave the ISO 17025/2005 in IEC, ISO 9001/2008 machines have been added to the syrup that are compatible with global stand- way to be registered in the Gulf Coopera- in quality, and OHSAS 18001/2007 in increase rate 38% production division and aerosols produc- ards, using environment friendly gas tion Council countries. Dr. Tarek Abd Al- occupational safety and health. tion division; the polybiotic manufacture (Non-CFC) as the project is given as a Rahman : unit has been developed as well. grant from the UNIDO. The company He added that ADCO exports its prod-

Rivo Targeted revenues of EGP 260m ADCO produces many needed medicines in the local and international markets, such as: The company's expected revenues are estimated at • Rivo, well known medicine for physicians and patients (320-75 children- 100 protect). EGP260,2m in the current financial year 2016/2017 as • Glutamarin, tablets for liver patients. against the achieved revenues of EGP 223,9m in 2014/2015. • AdcoKion, antihemorrhagic tablets and injections for esophageal varices sufferers. The export rate is expected to achieve EGP 35,6m. • Vitamin b12 for diabetes and nerves. • BetaVal-N cream for skin conditions. • Inhalers for bronchial asthma patients such as: (Vental- Beclazone - Forte- Metrovent- Ipravent). • Aerosols: polybiotic (Triple antibiotic), Candisten (Fungal aerosols) and Lidocaine (dental anesthetic spray). • Syrups for coughing and asthma treatment: (Phenadone- Orazone- Solvin-N). "Vental" • Micoliz- Oxslacior: (mucus and cough relief). • Allergyl, allergy syrup. • Hexitol mouthwash. • Brufemol, painkiller and antipyretic syrup. • Oblong-Pharmalgin painkiller and antipyretic. registered in UAE • Hypotense, high-blood pressure treatment tablets.