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The Supreme Administrative Court has postponed to 24 August appeals filed by the State Lawsuits Authority and a number of companies to bring back the now-canceled 15% import duty on iron billets after two judges resigned from the panel, according to Al Mal. The lower administrative court last month turned down the Trade Ministry’s appeal […]
Author Archives: enterpriseam admin
Posted inLegislation + Policy
Finance Ministry amends some executive regulations in Customs Act
The Finance Ministry amended the executive regulations of the Customs Act to unify the procedures of customs valuation for transit goods, the Finance Ministry said in a statement. The amendments allow imports that haven’t been custom-cleared to be transported to warehouses outside of ports and special economic zones after valid guarantees are presented.
Posted inEgypt Politics + Economics
Egypt to launch online industrial investment map in September
The government is planning to launch a government portal for its industrial investment map by next month, according to an Ittihadiya statement. President Abdel Fattah El Sisi urged ministers to prioritize focus SMEs during a meeting with Prime Minister Moustafa Madbouly, Trade and Industry Minister Amr Nassar, and SME Development Authority head Nevine Gamea on […]
Posted inEgypt Politics + Economics
El Sisi approves EUR 350 mn EIB development loan for Metro Line 1
President Abdel Fattah El Sisi has approved a EUR 350 mn loan agreement with the European Investment Bank (EIB) to be used for the renovation and development of Cairo Metro Line 1, according to a statement on the Official Gazette picked up by Zawya.
Posted inSports
Egypt U19 handball team to play Germany in world tournament final
Egypt’s national handball team will face Germany in the 2019 Men’s Youth Handball World Championship final tonight at 6 pm CLT, according to the International Handball Federation’s website. The U19 team made it to the final for the first time in the team’s history, despite the team’s U20 counterpart having won the title on home […]
Posted inSports
Egypt’s Zamalek hires Serbian coach Milutin Sredojević
Cairo giants Zamalek has tapped Serbian manager and former Orlando Pirates coach Milutin Sredojević as the team’s new head coach, according to KingFut.
Posted inON YOUR WAY OUT
Egypt’s new “A Bike for Every Citizen” initiative seeks to get nation cycling
Egypt is launching a national sports initiative, “A Bike for Every Citizen,” which aims to change the country’s transportation culture, promote fitness, and reduce fuel consumption and emissions, according to a cabinet statement. The government will work with bicycle companies to provide bikes, with payments being made in installments through banks. The initiative will be […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 16.53 | Sell 16.65 EGP / USD at CIB: Buy 16.53 | Sell 16.63 EGP / USD at NBE: Buy 16.52 | Sell 16.62 EGX30 (Thursday): 14,295 (-1.7%) Turnover: EGP 752 mn (28% above the 90-day average) EGX 30 year-to-date: +9.7% 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. 22 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee will […]
Posted inWhat We're Tracking Today
What we’re tracking on 15 August 2019
Screenshot this morning’s tldr: You are looking at what is perhaps the slowest news day Enterprise has ever encountered. Luckily — or rather unluckily, depending on which way you look at it — international events are giving us a lot to talk about. We’re exactly one week away from the Central Bank of Egypt’s next […]