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Watch out, Kramers: Families that consume more than 1,000 KW of electricity, own three cars or pay more than EGP 200k in value-added taxes will be removed from the state subsidy program under the fourth phase of the Great Subsidy Rolls Purge, Supply Minister Aly El Moselhy said at a press conference on Saturday, Al […]
Author Archives: enterpriseam admin
Posted inSpeed Round
El Sisi, Shoukry, Kamel meet Kushner in Egypt to talk Mid East peace
El Sisi, Shoukry, Kamel meet Kushner to talk Mid East peace: President Abdel Fattah El Sisi, Foreign Minister Sameh Shoukry, and intelligence chief Abbas Kamel met on Thursday with White House advisor Jared Kushner to discuss the Trump administration’s Israel-Palestine peace plan, according to an Ittihadiya statement. El Sisi reiterated during the meeting that Egypt […]
Posted inSpeed Round
EFG Hermes tops brokerage leagues for July and 1H2019
EFG Hermes topped the EGX’s brokerage league table for July with a market share of 33.5%, according to figures released by the EGX (pdf). CI Capital came in second with an 8.4% market share, followed by Beltone Financial (5.0%), Arqaam Securities (4.6%), and Mubasher Securities and Pharos Securities which each had a 3.4% market share. […]
Posted inSpeed Round
Cabinet approves new committee to regulate public companies’ contracts
CABINET WATCH- New ministerial committee to regulate public companies’ contracts: The Madbouly Cabinet signed off on setting up a ministerial committee tasked with creating a system to regulate public sector companies’ contracts and agreements during its weekly meeting on Thursday, according to a statement. The committee will be headed by the prime minister, and will […]
Posted inSpeed Round
Earnings watch: Abu Dhabi Islamic Bank and Juhayna
EARNINGS WATCH- Abu Dhabi Islamic Bank’s net profits after tax rose by 74% y-o-y to EGP 658.5 mn in 1H2019, up from EGP 378.2 mn a year earlier, according to a bourse filing (pdf). Revenues increased to EGP 1.8 bn during the period, a 25% y-o-y rise. Juhayna Food Industries’ 2Q2019 profit fell 31% y-o-y […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the News on 4 August 2019
It was a relatively quiet weekend for Egypt in the foreign press. Reuters was out with a special report on Thursday claiming that Egypt’s constitutional amendments were not the brainchild of our esteemed representatives, and were instead created by members of the government in meetings that date back to September 2018. Other headlines worth a […]
Posted inWorth reading
Cairo through time: From the Fatimids to the birth of modern Egypt
Cairo through time: From the Fatimids to the birth of modern Egypt: From the day the Fatimids laid its foundation stone in 969 CE, Cairo has endured, charmed, and evolved into the pandemonium that stands today. From Bab Zuwayla to Al Hussein and Al Hakim mosques and nearby “alleyways and breath-taking monuments,” the capital has […]
Posted inDiplomacy + Foreign Trade
Egyptian, Sudanese irrigation ministers discuss GERD
Egyptian, Sudanese irrigation ministers discuss GERD: Irrigation Minister Mohamed Abdel Ati discussed negotiations over the Grand Ethiopian Renaissance Dam (GERD) with his Sudanese counterpartSalah Ahmed Mohamed Ibrahim during a visit to Sudan last week, according to a cabinet statement. Abdel Ati will travel to Ethiopia for talks after visiting Sudan. Ethiopian Foreign Minister Gedu Andargachew […]
Posted inDiplomacy + Foreign Trade
UK PM calls for closer ties with Egypt during phone call with El Sisi
UK PM calls for closer ties with Egypt: Newly elected UK Prime Minister Boris Johnson expressed his intention to deepen economic and political ties with Egypt during a phone call with President Abdel Fattah El Sisi last night, according to an Ittihadiya statement. El Sisi congratulated Johnson on his victory in the recent Conservative Party […]