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EXCLUSIVE- Gov’t mulls industry-wide development tax for the automotive industry: The government is considering imposing a development tax on all imported and locally produced cars, two government sources told Enterprise. The idea of a sliding tax that varies with engine size is now being discussed by a ministerial committee tasked with revamping the so-called automotive […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EFG lands role in Saudi Aramco IPO
Is EFG getting a slice of the Aramco pie? EFG Hermes has reportedly landed a gig as joint bookrunner in Saudi Aramco’s anticipated IPO, according to Bloomberg. Our friends will reportedly be working alongside global investment banks Bank of America, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, who are serving as joint […]
Posted inSpeed Round
Egyptian beauty services startup Glamera raises USD 250k in seed funding
STARTUP WATCH- Glamera raises USD 250k in seed round: Egyptian beauty services startup Glamera has raised USD 250k in a seed funding round from an unnamed Saudi-based angel investor, reports Menabytes. The Glamera app — which was founded earlier this year by Mohamed Hassan, Omar Fathy, and Zafer Alshehri — allows users to book appointments […]
Posted inSpeed Round
Dice says gov’t owes it EGP 200 mn in export subsidies
Dice wants a piece of the Export Subsidy Fund: Dice Sport and Casual Wear has said the government owes it EGP 200 mn in overdue export subsidies and has requested payment under the newly-implemented EGP 6 bn subsidy export framework, Al Mal reported. The company said it is owed EGP 125.8 mn from the government […]
Posted inSpeed Round
Activist Alaa Abdel Fattah rearrested amid government protest crackdown
Noted activist Alaa Abdel Fattah detained: Alaa Abdel Fattah, a journalist, blogger and developer whose activism predates the 2011 revolution, was arrested on Sunday. He was reportedly detained while inside a police station to which he reports daily at 6pm for a 12-hour stay as part of his parole six months ago after having completed […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inSpotlight
Spotlight on the fifth legislative session of the House
The House of Representatives will reconvene for the fifth legislative session on Tuesday, 1 October. This will be the final legislative cycle before parliamentary elections are held at the end of 2020. We maintain a legislative tracker that keeps tabs on bills the government could introduce, with a heavy focus on business and economy-relevant legislation. […]
Posted inEGYPT IN THE NEWS
Egypt in the news on 30 September 2019
The conversation about Egypt in the foreign press continues to be driven by the prospect of additional protests, with international outlets largely agreeing that videos by former government contractor Mohamed Ali are fanning the flames of underlying grievances, including rising poverty and a lack of space for expression. Many put forward the view that the […]
Posted inWorth reading
Machine learning and big data analysis set to transform white-collar jobs
Machine learning and big data analysis set to transform white-collar jobs: White-collar jobs may be swept away faster by digital change than in any previous economic transformation, but employees will reap the benefits of machine learning, writes Robert Wright in the Financial Times. As machine learning systems become more sophisticated, their ability to spot patterns […]
Posted inDiplomacy + Foreign Trade
Egypt rallies int’l support to resolve GERD gridlock
Shoukry rallying int’l support to resolve GERD gridlock: Foreign Minister Sameh Shoukry brought up the Grand Ethiopian Renaissance Dam (GERD) negotiations in several meetings with other foreign ministers during the UN General Assembly in New York last week after President Abdel Fattah El Sisi called on the international community to help Egypt, Sudan, and Ethiopia […]