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Salaries above EGP 800k could be subject to a new top tax rate: The Finance Ministry is proposing amendments to the Income Tax Act that would enforce a new 27.5% wage tax rate on salaries of more than EGP 800k a year, a source with knowledge of the matter told Enterprise. The amendments have been […]
Author Archives: enterpriseam admin
Posted inIPO
Damietta Container & Cargo Handling lists on EGX ahead of planned IPO
The EGX has approved the temporary listing of the Damietta Container & Cargo Handling Company’s (DCHC) shares ahead of a potential IPO next year, Al Mal reported yesterday. The shares will be listed for six months while the company works to meet the requirements to IPO on the exchange and obtain regulatory approvals. Port Said […]
Posted inCEO POLL
Nada El Ahwal’s three criteria for choosing which export industries to focus on
We recently had breakfast with 20 top CEOs to talk about why exports and FDI are key to our economy going forward. After reading our five-step recipe for turning Egypt into a global export hub and FDI magnet, every participating CEO has agreed to answer two questions on the record. We’ve already heard from: GSK’s […]
Posted inLEGISLATION WATCH
Unified Building Law amendments approved by Senate committee
Unified Building Law gets Senate committee nod: The Senate Housing and Local Administration Committee approved amendments to the 2008 Unified Building Law. The five-article bill bans construction outside authorized areas in cities, villages and districts. Some exceptions are made for plots that serve agricultural and livestock production, public service projects, and agricultural land outside villages […]
Posted inMoves
The NBA is opening an office in Egypt
Mohamed Abdel Motaleb Soliman (LinkedIn) was appointed the head of the North American National Basketball Association’s (NBA) new Egypt office, according to an NBA statement. The office will become its fourth in Africa when it opens in early 2023, the statement read. Soliman most recently served as vice president of the Egyptian Basketball Federation and […]
Posted inLAST NIGHT’S TALK SHOWS
The US-Africa summit was the top story on a quiet night on the airwaves
It was once again a slow night for talk shows as we come closer to a wrap up of 2022, with coverage focused mostly on President Abdel Fattah El Sisi’s participation at the US-Africa summit in Washington, the Public Shops Law, and efforts to boost the country’s exports. A GERD-focused meeting between El Sisi and […]
Posted inAlso on our Radar
Haleon to launch in Egypt next year
ICT- Benya + Al Fanar join forces in Saudi: IT infrastructure contractor Benya Group has signed final agreements with Saudi’s Al Fanar to establish a tech-focused JV in the Gulf country, dubbed Alfa Benya, according to a company statement. MANUFACTURING- Spain’s Copreci is partnering with local appliances firms Fresh and El ArabyGroup to build our […]