UPDATE – Egypt’s local news digest Aug. 29: Shell Co. makes oil discovery in Egypt’s western desert; Endowment Min. denies relinquishing assets on Greek island
A Whiting Petroleum Co. pump jack pulls crude oil from the Bakken region of the Northern Plains AP/Matthew Brown (archived)

CAIRO: No more browsing from site to site, view the top business news stories on August 29 here:

 

Exclusive: Shell Co. makes oil discovery in Egypt’s western desert

Anonymous sources at the Petroleum sector told Youm7 that Royal Dutch Shell Company has made an oil discovery in Egypt’s western desert.

The sources said that the discovery is an exploratory well in a field in Alam Shaweesh area in Western Desert; the sources added that the well belongs to Shell Co.

 

Endowment Min. denies relinquishing assets on Greek island

Minister of Endowment denied rumors of relinquishing some of its owned assets on a Greek island, according to a statement.

The ministry’s assets include a huge architectural complex that had been owned in the past by Egypt’s ruler Mohamed Ali Pasha; Egypt and Greece have agreed not to sell the building and instead rent it after restoration.

The ministry announced it will send a delegation after Eid al-Adha (Feast of Sacrifice) vacation to apply needed restoration to its assets on Thasos Island and in Kavala City in Greek.

The statement also said that the ministry is studying how to best make use of these assets in tourism.

 

Alexandria studies manufacturing trams locally at lower price

The Public Transport Authority in Alexandria will start in manufacturing 30 joint trams in coordination with foreign companies at a lower cost compared to the international one, head of the authority Khaled Elewa told Youm7.

The authority announced that the production cost of the tram will be around $1.7 million, while the purchase cost is $3 million.

Earlier this month, Elena said that the authority is studying four offers to import 15 new trams that will join the Alexandria tramway network.

Began operating in 1863, the tramway network in Alexandria consists of 20 lines and serves 140 stops.

The price of single tram ride differs according to the carriage used, and it usually varies between 0.50 EGP to 5 EGP.

 

Rafah crossing to open for 3 days for Palestinian pilgrims to cross

Rafah border crossing will operate Tuesday-Thursday to allow 2,901 Palestinian pilgrims to travel to Mecca through Cairo Airport, according to a Monday statement by the Palestinian embassy in Cairo.

 

Campaign to raise awareness of population crisis at schools

The Education Ministry and the General Mobilization and Statistics Authority announced they will cooperate to raise awareness of the population crisis at schools; the population in Egypt has reached 91 million, Youm7 reported.

 

NCW to honor women who participated in Rio 2016 Wednesday

The National Council for Women will honor female players who participated in Rio 2016 on Wednesday at a Cairo hotel. The ceremony will be attended by NCW’s head Maya Morsi, female members of parliament, head of the Olympic Committee Hesham Abou Hatab and other members of parliament, Youm7 reported.

 

Episcopal Church to filed lawsuit to be separated from Evangelical Church

Bishop Mounir Hanna of the Episcopal Church in Egypt and Africa said he will file a new lawsuit against the Evangelical Church to separate the two churches after the Administrative Court rejected similar litigation and ordered that his church return to the Evangelical umbrella, Youm7 reported.

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