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EXCLUSIVE- Cabinet approves final amendments on auto manufacturing incentives package: The Madbouly Cabinet has approved final amendments to the Customs Act that will provide customs discounts to car manufacturers in return for increasing their use of local components, two government officials told Enterprise. The updated amendments split customs breaks into three tiers according to the […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Dana Gas confirms possible Egypt exit
Dana Gas confirms possible Egypt exit: Dana Gas is studying the possibility of selling its Egypt assets to focus on its “massive resources” in the Kurdistan Region of Iraq (KRI), but will continue its operations until then normally, Head of Investor Relations Mohammed Mubaideen confirmed to CNBC Arabia yesterday (watch, runtime: 10: 56). Unnamed sources […]
Posted inSpeed Round
US’s CEVA looking to invest USD 2 bn in new capital medical complex
INVESTMENT WATCH- US’ CEVA looking to invest USD 2 bn in new capital medical complex: The US’ CEVA Animal Health is expected to sign in September a USD 2 bn agreement with the New Administrative Capital Company for Urban Development (NACCUD) to build a medical complex in the new capital, NACCUD Managing Director Mohamed Abdel […]
Posted inSpeed Round
FRA gives itself all regulatory power over industry in Insurance Act
LEGISLATION WATCH- Draft Insurance Act grants sweeping new powers to market regulator: The Financial Regulatory Authority (FRA) will be granted sweeping new powers to regulate the insurance industry under the final draft of the Insurance Act, Al Masry Al Youm reports. The watchdog would vet all candidates applying for board positions in insurance companies, have […]
Posted inSpeed Round
Mohamed Abdel Wahab tapped as new head of Egypt’s GAFI
MOVES- Prime Minister Moustafa Madbouly has tapped co-head of the General Authority for Investment (GAFI) and former Investment Ministry consultant Mohamed Ahmed Abdel Wahab as GAFI’s new chief executive, according to a ministry statement. Abdel Wahab succeeds Mohsen Adel, who completed on Sunday his one-year stint at the helm of the authority.
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented, quirky people to join our team and help us make both the product you’re reading now and some exciting new stuff. We’re particularly interested in: Journalists with print, audio and / or video skills — both editors and reporters (for both our English and our Arabic editions); […]
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 inEGYPT IN THE NEWS
Egypt in the news on 30 July 2019
The foreign press didn’t have much to say about Egypt this morning aside from two headlines worth a skim: Body found at Elneny’s Egypt home: The body of a man believed to have died while attempting to steal electrical cables was recently found at the home of Arsenal midfielder Mohamed Elneny in El Mahalla, the […]
Posted inWorth Listening
Terminator-inspired 3D printing technique crafts objects in seconds
A new 3D printing technique could become a core manufacturing trend of the future allowing objects to be crafted in seconds. Carbon, a startup focused exclusively on crafting polymers, took inspiration from Terminator 2’s T1000 to invent a printing technique using the power of light and digital projections. Carbon CEO Joseph DeSimone talks to the […]
Posted inDiplomacy + Foreign Trade
Egypt’s El Sisi, Jordan’s Abdullah II hold talks on Mideast peace plan
El Sisi, Jordan’s Abdullah II hold talks on Mideast peace plan: President Abdel Fattah El Sisi and Jordan’s King Abdullah II discussed yesterday stepping up efforts to resume Middle East peace plan negotiations, according to an Ittihadiya statement. Both leaders reiterated their vision of the pre-1967 borders and a Palestinian capital in East Jerusalem as […]