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IMF signs off on final USD 2 bn tranche disbursal: The IMF’s Executive Board approved yesterday disbursing the final USD 2 bn tranche of the institution’s USD 12 bn facility to Egypt, after completing its fifth and final review of the country’s economic reform program, the institution said in a statement. Egypt had reached a […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Israeli partners working on amending gas export agreement with Dolphinus
Israeli gas partners want to amend their export agreement with Egypt: Israeli gas partners Noble Energy and Delek Drilling are looking to tweak their USD 15 bn natural gas export agreement with Egypt to allow them to reach peak undisrupted supply levels later than initially agreed, Delek CEO Yossi Abu said on a call with […]
Posted inSpeed Round
Egypt’s economic growth to slow to 5.5% in FY2019-2020 - Reuters poll
Egypt’s economic growth to slow slightly to 5.5% in FY2019-2020 -poll: Egypt’s economic growth will slow slightly to 5.5% in FY2019-2020, from 5.6% last year, according to a Reuters poll of economists. The government’s budget eyes GDP growing at a 6% clip over the next 12 months. “Even as leading economic indicators point toward weak […]
Posted inSpeed Round
More than half of Egyptian factories operating below 75% capacity
Almost two-thirds of Egyptian factories are operating below 75% capacity, government sources told the local press. The government aims to raise industrial production by 17% this fiscal year to EGP 237 bn, up from EGP 203 bn last year. Industrial production is responsible for 15% of jobs in Egypt and accounts for 80% of all […]
Posted inSpeed Round
Egypt signs agreement for the second tranche of the new capital’s Chinese loan
Egypt inks agreements to receive second tranche of USD 3 bn loan for new capital’s business district: Egypt has signed agreements with eight Chinese banks to receive the second tranche of a USD 3 bn loan to finance the construction of the business district in the new administrative capital, Housing Minister Assem El Gazzar said, […]
Posted inSpeed Round
Justice Ministry committee adjourns Raya case against FRA to 22 Sep
DISPUTE WATCH- Raya’s case against the FRA adjourned to 22 September: The Justice Ministry’s dispute resolution committee has adjourned a case filed by Raya Holding’s Chairman Medhat Khalil against the Financial Regulatory Authority (FRA) to 22 September, sources close to the matter told Al Mal. A fresh dispute has arisen between the two sides after […]
Posted inSpeed Round
French consulting firm to advise on Abu Qir-Alexandria railway tender
CABINET WATCH- The Madbouly Cabinet has agreed to let an unnamed French consulting firm advise on a tender to develop the Abu Qir railway line, it said in a statement on Wednesday following its weekly meeting. The winning company would be granted the right to design, supply, construct and finance the project. The cabinet also […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Egypt in the news on 25 July: Human rights (again), Nabila Makram under fire
The IMF’s signoff on disbursing Egypt’s final loan tranche is topping coverage in the foreign press, marking the first time in what feels like eons that a business-related story is the most newsworthy story on Egypt. It’s safe to say that Human Rights Watch doesn’t hold the new NGOs Act in high regard: The newly-approved […]
Posted inWorth reading
‘Mauritius Leaks’ shows Africa’s loss of revenue to wealthy offshore tax haven
‘Mauritius Leaks’ reveal Africa’s loss of revenue to offshore tax haven: A new investigation by the International Consortium of Investigative Journalists (ICIJ) dubbed the ’Mauritius Leaks’ reveals how western corporations use the Indian Ocean island to avoid paying taxes in poor African countries. The investigation, based on analysis of 200k confidential records from the Mauritius […]