Egypt settles $39m dispute with Mercedes-Benz importer -ministry

The Mercedes-Benz logo is seen on the second press day of the Paris auto show, in Paris, France, October 3, 2018. (Reuters)
Updated 14 January 2019
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Egypt settles $39m dispute with Mercedes-Benz importer -ministry

  • An Egyptian cabinet statement said that Mercedes-Benz production chief Markus Schaefer had told PM Mostafa Madbouly that they were looking to resume operations in Egypt
  • Mercedes-Benz halted assembling its vehicles in Egypt in 2015

CAIRO: Egypt has settled a 700 million Egyptian pound ($39.2 million) dispute between its customs authority and an importer of Mercedes-Benz vehicles, the finance ministry said on Sunday.
The ministry did not name the company and said in a statement that a governmental committee tasked with resolving investment disputes ordered the settlement, without providing details.
The announcement came two days after an Egyptian cabinet statement said that Mercedes-Benz production chief Markus Schaefer had told Prime Minister Mostafa Madbouly that the carmaker was looking to resume operations in Egypt and is considering assembling additional models in the country.
Mercedes-Benz halted assembling its vehicles in Egypt in 2015, but in 2017 the company had agreed in principle to a resumption in production, state-run news outlet Al-Ahram said.
Egypt announced in 2017 that Mercedes-Benz would return to the country with a new 50,000 square meter distribution center in the Suez Canal Economic Zone. ($1 = 17.8600 Egyptian pounds)


China’s Huawei to launch 5G at Africa Cup of Nations in Egypt

Updated 22 April 2019
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China’s Huawei to launch 5G at Africa Cup of Nations in Egypt

  • The Chinese firm will introduce the technology at the 74,000-capacity Cairo International Stadium
  • The stadium is set to host 10 games including the final of this summer's Africa Cup of Nations

CAIRO: Huawei will roll out its 5G phone network for the first time during this summer’s Africa Cup of Nations, Egypt’s minister of communications and information technology said on Sunday.

The Chinese firm will introduce the technology at the 74,000-capacity Cairo International Stadium, which is set to host 10 games including the final during the competition.

“Egypt wishes to cooperate with Huawei in the field of artifical intelligence, technology transfer and with 5G,” Amr Talaat said.

Huawei is the leading manufacturer of equipment for next-generation 5G mobile signal with almost instantaneous data transfer that will become the nervous system of Europe’s economy, in strategic sectors like energy, transport, banking and health care.

However, some Western nations have barred it amid fears Beijing could gain access to sensitive communications and critical infrastructure but Huawei denies all these accusations.

The biennial Cup of Nations takes place between June 21 and July 19 in the north African country.

Defending champions and original hosts Cameroon are in a tricky group alongside Ghana, Benin and Guinea-Bissau.

Egypt was awarded the staging rights in January, following the decision to strip Cameroon of the finals due to delays in preparation.