Egypt to manufacture Samsung tablets

Samsung had made previous offers to establish a tablet factory in Egypt with investments of about $30 million. (File: Reuters)
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Updated 11 February 2021
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Egypt to manufacture Samsung tablets

  • Minister Osama Ezzat said the factory would have the capacity to produce up to one million devices annually
  • The specifications of the device and its selling price will be agreed later

CAIRO: The Egyptian government has signed an agreement with Korean technology company Samsung to manufacture educational tablets in the country, part of a government strategy to localize the technology sector.

Samsung had made previous offers to establish a tablet factory in Egypt with investments of about $30 million, which sources say is the company’s estimated investment in the factory that will be set up to manufacture the devices as part of the agreement. The specifications of the device and its selling price will be agreed later.

Earlier this year, the Ministry of Communications and Information Technology held negotiations with international companies to determine the best offers to manufacture tablets locally in Egypt.

Two days ago, Egyptian Prime Minister Mostafa Madbouly chaired a meeting to follow up on the localization of the tablet industry in the presence of Minister of Education and Technical Education Tarek Shawky, Minister of Communications and Information Technology Amr Talaat, and Osama Ezzat, chairman of the Armed Forces Authority.

Madbouly had indicated in a prior meeting that manufacturing of the tablets would start as soon as an agreement was reached.

The minister of communications and information technology said it had been agreed that the tablet’s specifications would be updated every two years, with the contract lasting for five years.

Ezzat said the factory would have the capacity to produce up to one million devices annually.


European gas prices soar almost 50% as Iran conflict halts Qatar LNG output

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European gas prices soar almost 50% as Iran conflict halts Qatar LNG output

  • Analysts warn prolonged disruption could push prices higher
  • Some shipments of oil, LNG through Strait of Hormuz suspended
  • Benchmark Asian LNG price up almost 39 percent

LONDON: ​Benchmark Dutch and British wholesale gas prices soared by almost 50 percent on Monday, after major liquefied natural gas exporter Qatar Energy said it had halted production due to attacks in the Middle East.

Qatar, soon to cement its role as the world’s second largest LNG exporter after the US, plays a major role in balancing both Asian and European markets’ demand of LNG.

Most tanker owners, oil majors and ‌trading houses ‌have suspended crude oil, fuel and liquefied natural ​gas shipments ‌via ⁠the ​Strait of ⁠Hormuz, trade sources said, after Tehran warned ships against moving through the waterway.

Europe has increased imports of LNG over the past few years as it seeks to phase out Russian gas following Russia’s invasion of Ukraine.

Around 20 percent of the world’s LNG transits through the Strait of Hormuz and a prolonged suspension or full closure would increase global competition for other ⁠sources of the gas, driving up prices internationally.

“Disruptions to ‌LNG flows would reignite competition between ‌Asia and Europe for available cargoes,” said ​Massimo Di Odoardo, vice president, gas ‌and LNG research at Wood Mackenzie.

The Dutch front-month contract at the ‌TTF hub, seen as a benchmark price for Europe, was up €14.56 at €46.52 per megawatt hour, or around $15.92/mmBtu, by 12:55 p.m. GMT, ICE data showed.

Prices were already some 25 percent higher earlier in the day but extended gains ‌after QatarEnergy’s production halt.

Benchmark Asian LNG prices jumped almost 39 percent on Monday morning with the S&P Global ⁠Energy Japan-Korea-Marker, widely used ⁠as an Asian LNG benchmark, at $15.068 per million British thermal units, Platts data showed.

“If LNG/gas markets start to price in an extended period of losses to Qatari LNG supply, TTF could potentially spike to 80-100 euros/MWh ($28-35/mmBtu),” Warren Patterson, head of commodities strategy at ING, said. The British April contract was up 40.83 pence at 119.40 pence per therm, ICE data showed.

Europe is also relying on LNG imports to help fill its gas storage sites which have been depleted over the winter and are currently around 30 percent full, the latest data from Gas Infrastructure ​Europe showed. In the European carbon ​market, the benchmark contract was down €1.10 at €69.17 a tonne