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The Education Ministry signed on Thursday a cooperation protocol with the European Institute for Cooperation and Development (IECD) and the French Chamber of Commerce in Egypt to set up an applied technology school in Qalyubia, according to a cabinet statement.
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Egypt’s NUCA offers 9 land plots in New Cairo to developers
The New Urban Communities Authority (NUCA) is tendering nine land plots comprising around 1k feddans in New Cairo to developers, unnamed officials at the authority told the local press. Mixed use plots have been priced at EGP 9,870 per sqm while commercial plots are priced at EGP 30.4k per sqm.
Posted inTourism
Thomas Cook bookings up 30-40% in 2019
Travel agency Thomas Cook has seen bookings increase by 30-40% in 2019, with most tourists going to Hurghada and Marsa Alam, said Thomas Cook Egypt agent Hossam El Shaer, according to Youm7.
Posted inBanking + Finance
Valu signs contract with insurance company for auto insurance installment plans
EFG Hermes’ fintech subsidiary Valu has signed a contract with an insurance company to feature its car insurance installment plan on the app, CEO Walid Hassouna told the local press without naming the company. Valu users will be able to pay for the insurance in 12 installments over the course of a year, Hassouna said, […]
Posted inOther Business News of Note
Court postpones iron billet import duty hearing to 8 Sept
The Supreme Administrative Court has postponed to 8 September appeals filed by the State Lawsuits Authority and a number of companies to reinstate the 15% import duty on iron billets, Akhbar El Yom reported. This is the second time the hearing has been pushed in the past week after two judges resigned from the panel […]
Posted inLegislation + Policy
Federation of Egyptian Industries members weigh in on income tax, VAT amendments
The Tax and Customs Committee at the Federation of Egyptian Industries has asked members to present their suggestions on proposed amendments to the VAT Act and the planned new Income Tax Act, the local press reported. The government announced plans to amend the VAT Act and draft a new income tax law last month, promising […]
Posted inON YOUR WAY OUT
TV presenter Reham Said suspended by Supreme Media Council for “humiliating” comments
The Supreme Media Council has suspended controversial TV presenter Reham Said for the nth time over her description of overweight people as “a burden” and “an eyesore” during a discussion about weight loss surgery on her talk show, Sabaya, last week. She was called in for questioning on Friday, following a series of complaints on […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.53 | Sell 16.66 EGP / USD at CIB: Buy 16.55 | Sell 16.65 EGP / USD at NBE: Buy 16.52 | Sell 16.62 EGX30 (Thursday): 14,333 (-0.2%) Turnover: EGP 666 mn (12% above the 90-day average) EGX 30 year-to-date: +10.0% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
August: Meetings of the Egyptian-Belarussian Committee for trade, economic, scientific and technical cooperation, Minsk. August: The National Railway Authority is expected to sign a 15-year maintenance agreement for 1,300 railcars it had agreed to purchase from Russia’s Transmashholding under a EGP 22 bn contract. 25-27 August (Sunday-Tuesday): G7 Summit, Biarritz, France. 28-30 August (Wednesday-Friday): Tokyo […]
Posted inWhat We're Tracking Today
What we’re tracking on 22 August 2019
Today’s the day, ladies and gents: The Central Bank of Egypt’s Monetary Policy Committee meets later today to decide on interest rates. Consensus among economists polled by Enterprise and Reuters is that the central bank will cut rates, with most anticipating a 100 bps cut. And 10 out of 12 economists surveyed by Bloomberg yesterday […]