USD exchange rates above EGP 50-mark at Egyptian banks
Likewise, the USD traded at EGP 50.1 for purchasing and EGP 50.2 for selling at Banque Misr, the Commercial International Bank Egypt (CIB), and the United Bank
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Zawya
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African Energy Week (AEW) 2025 to Host Dedicated Energy Finance Track
The African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 in Cape Town – will host an Energy Finance Track, dedicated to exploring the opportunities, challenges and emerging trends across Africa's investment environment. The Energy Finance Track – hosted across the three-day main conference agenda – covers a variety of topics and aims to reduce risk perception, identify strategic investment avenues while exploring innovative finance models that drive projects forward in Africa. The Energy Finance Track features a suite of companies, all of which will tackle strategic topics. These include African and global national oil companies, global energy and intelligence firms, energy and technology service providers, downstream regulators, upstream operators, African E&P firms, renewable energy developers, and many more. From access to finance to investment risks to Merger&Acquisition (M&A) activity, regional projects and development finance, the track will support decision-making and deal-signing in Africa's energy sector. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Africa's energy sector continues to witness a surge in investment, as both operators and financiers expand their portfolios across the continent. In 2025, capital expenditure across the continent is projected to hit $43 billion, rising to $54 billion by 2030. Onshore projects are expected to represent the lion's share of expenditure at 56%, while natural gas is estimated to draw the majority of capital by 2030, accounting for over 60% of hydrocarbon investment during this period. Deepwater exploration is also on the rise, particularly in frontier markets such as Namibia and Ivory Coast. Financing exploration and production projects remains a key challenge, however, as the global capital pool continues to decline. The AEW: Invest in African Energies Energy Finance Track will address this challenge, with panels geared towards exploring innovative strategies to raise capital for oil and gas projects. Sessions include Reducing Barriers to Entry in African Energy Investments; Financing Upstream Projects for Domestic Energy Security; Sourcing International and African Capital for the Acquisition and Development of Marginal and Undeveloped Fields; and African Equity Risk Premium. Africa's M&A landscape has also proven to be dynamic in recent years, with future projections showing a positive growth trajectory as companies seeks new investment and partnership opportunities across the continent. Driven by rising capital expenditure, a surge in exploration and a focus on frontier basins across the continent, M&A activity continues to grow in Africa. Amid this growth, the Energy Finance Track will address strategies for supporting future M&A activity. Sessions on Strategic Financing for M&A and Navigating Risk and Insurance in African M&A, will examine identified risk and liabilities between buyers and sellers and how access to capital, regulatory hurdles and shifting investment trends are impacting Africa's M&A landscape. Beyond oil and gas, Africa's renewable energy and power landscape is on track for significant growth, as countries diversify their energy systems and seek to support broader economic growth. With over 600 million people living without access to electricity across the continent, African countries are accelerating the pace and development of power infrastructure, from generation to transmission to storage. Yet, financing challenges remain. The International Energy Agency projects that to meet the continent's energy access, climate and development goals, Africa requires annual energy investments to more than double to over $240 billion by 2030. Key sectors include energy access, power systems and emerging industries such as clean energy technologies. The Energy Finance Track will unpack the role innovative financing mechanisms and regional collaboration plays in achieving the continent's energy and development goals. Sessions on Intra-Africa Commodities Trading and Financing Cross-Border Pipelines and Shared Infrastructure Projects will explore how increased regional trade can serve as a catalyst for economic development in Africa. Additionally, sessions on Integrated Energy Projects: Is Financing Easier and Energy Finance Strategies: Lessons Across Africa will examine how blended finance, public-private partnership models and development finance can support energy development. 'The AEW: Invest in African Energies 2025 Energy Finance Track offers a unique opportunity for African financiers to gain insight into emerging opportunities across the continent. At the same time, the track offers project developers, governments and public institutions the chance to explore new methods of financing, while addressing critical challenges to energy development,' stated Oré Onagbesan, AEW: Invest in African Energies Program Director. Distributed by APO Group on behalf of African Energy Chamber.
Arabian Post
an hour ago
- Arabian Post
Sky‑high Price Tag Looms for U.S.‑Built iPhone
Cost estimates suggest manufacturing and assembling an iPhone entirely in the United States would push retail prices well beyond current norms, potentially reaching up to USD 3,500. Analysts point to steep labour costs, the absence of a mature electronics supply chain, and existing tariffs as primary drivers behind the inflation. Bill of materials for an iPhone 16 Pro is around USD 550, with assembly and testing adding approximately USD 30 when done in China. By contrast, shifting assembly to U.S. workers would raise that figure to more than USD 300, with some estimates placing it at USD 200 for mere screw-fastening tasks—versus USD 40 in China—dramatically boosting total manufacturing cost. Tariffs on Chinese-made goods could further inflate costs thanks to import duties, possibly increasing the bill by hundreds per unit. Experts underscore that Apple's global supply network—spanning over 40 nations—is finely tuned for affordability and speed. Establishing such infrastructure on U.S. soil would demand years of capital expenditure and billions in investment. Wedbush analyst Dan Ives estimates the cost of U.S. labour and facilities might alone elevate iPhone prices from USD 1,000 to between USD 2,000 and USD 3,500. ADVERTISEMENT The issue of automation adds complexity. The current iPhone design prioritises aesthetic minimalism over robustness for robotic assembly or ease of repair. A deeper chassis and redesigned internals could facilitate automation and servicing, but would compromise the sleek finish that has defined Jony Ive's design philosophy. Critics argue this emphasis on form—what some call 'the curse of Jony Ive'—limits the product's adaptability for automated factories. Ive himself has acknowledged unintended societal consequences of smartphone design, placing user experience above modularity. A partial move to the U.S. is already in motion: Apple has expanded some manufacturing in India and Vietnam, largely to navigate tariff constraints and reduce over-reliance on China. But even such incremental reshoring requires development of a domestic ecosystem capable of producing key components—display panels, camera modules, semiconductors—which remains years away. Washington's political pressure—most notably from former president Donald Trump—has emphasised tariffs and demands for domestic production. Commerce Secretary Howard Lutnick stated that tasks like screwing in components 'are going to come to America,' but analysts caution this will deliver little impact without fixing a lack of skilled labour and tooling capability. Semiconductor production in the U.S. has received high-level investment under bipartisan initiatives, but silicon fabrication remains distinct from the fine-pitch assembly of shared circuit boards requiring precision robotics or manual dexterity. Much of the assembly workforce that supports Apple in China comprises flexible labour cost units with decades of specialised training—resources U.S. plants cannot rival yet. Automation presents a theoretical remedy. However, analysts stress that Apple's current design resists robotic handling, with tolerances too tight for factory automation without significant redesign. A redesign to enable robots and simplify maintenance would erode the device's elegant form and compactness, clashing with Ive's legacy aesthetic. Industry insiders say the only viable near-term approach would be limited-run, luxury-grade iPhones—likely sold at prices far above USD 3,000—to early adopters or government contracts. Scaling up to mass production at lower costs would require prolonged investment, new engineering for manufacturability, and training thousands of technicians and robotics engineers. The implications stretch beyond consumer wallets. A U.S.-built iPhone priced at USD 3,500 would force consumers to rethink upgrade cycles, accelerate device lifespans and drive demand for repairable or modular alternatives. Meanwhile, Apple would have to choose between absorbing costs—pressuring profit margins—or passing them on to customers and likely seeing demand erosion. As it stands, the sleek, closed-box design of the iPhone keeps it locked into global supply chains optimised for overseas assembly. Unless Apple is willing to embrace deeper structural changes—both design-wise and operationally—a fully U.S.-built model may remain a high-priced novelty rather than a mainstream contender.
Zawya
3 hours ago
- Zawya
Nigeria to introduce real-time tracking for oil export shipments
Nigeria's oil regulator is set to bring in a new rule that requires oil producers to obtain an export permit, vessel clearance and a unique identification number to enable real-time tracking of cargoes, based on regulations seen by Reuters. The government said the updated regulations are designed to enable real-time monitoring of oil cargo exports, aiming to combat theft and under-declaration at export terminals, and thereby significantly enhance government revenue. The new rules mark a significant departure from the previous system which only required producers to declare cargoes to customs authorities for export permit issuance. "The new guidelines represent a significant step toward a more transparent, accountable and efficient oil export regime in Nigeria," the spokesperson for the regulator said. Reinforcing the necessity of these changes, Ayodele Oni, an energy lawyer at Lagos-based Bloomfield law firm, said the previous system was not equipped for real-time tracking. "This deficiency led to issues such as under-reporting, theft, revenue loss and mismatches in export data," Oni said. Under the revised framework, known as the Nigerian Upstream Petroleum Advance Cargo Declaration Regulation, exporters must file comprehensive details of the vessel and cargo in advance, including the consignee, port destination, tonnage and estimated time of arrival. Strict compliance with these new regulations is mandatory and non-compliance carries potential penalties of up to $20,000. (Reporting by Isaac Anyaogu. Editing by Jane Merriman)
