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CORRECTION- We incorrectly wrote yesterday that the government currently deducts 35% of monthly salaries worth between EGP 1,670 and EGP 5,710. It actually deducts 35% on variable salaries up to EGP 4,040. The story has since been corrected on our website.
Author Archives: enterpriseam admin
Posted inSpeed Round
** WE’RE HIRING: We’re looking for smart, talented journalists and analysts 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 people with writing plus either audio or video skills. Interested? Send your CV along with 2-3 writing samples and a solid […]
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 inImage of the Day
Global energy consumption from 1980-2016, by country
Global energy consumption from 1980-2016, by country: This super-slick interactive chart brought to you by Bloomberg charts the evolution of global energy consumption since 1980. Watch for China’s rapid expansion over the first decade of the millennium, and the very gradual increase of nuclear/renewable energy over the four decades.
Posted inEGYPT IN THE NEWS
Egypt to file civil lawsuit against Christie’s for the sale of Tutankhamun artefact
Egypt is planning to take legal action against the sale of a Tutankhamun sculpture for USD 6 mn by Christie’s auction house in London last week, Antiquities Minister Khaled El Anani told the BBC. Arguing the artefact was likely stolen in the 1970s, Egypt said the sale was “inconsistent with relevant international treaties and conventions.” […]
Posted inON THE FRONT PAGES
PM issues regs for Egypt’s new temporary law to settle building code violations
The issuing of executive regulations for a temporary law to settle building code violations topped the front page of state-owned Al Akhbar this morning. We recap the story in full in this morning’s Speed Round, above. Both Al Ahram and Al Gomhuria’s websites are still down this morning.
Posted inDiplomacy + Foreign Trade
Afreximbank dedicates USD 1 bn to AfCFTA, Egypt-Tanzania summit kicks off
Afreximbank dedicates USD 1 bn to support AfCFTA: Afreximbank has decided to allocate USD 1 bn to help countries that fear facing losses as a result of the AfCFTA agreement, President Benedict Oramah said on the sidelines of the African Union summit in Niger. The money aims to encourage countries to ratify the treaty by […]
Posted inDiplomacy + Foreign Trade
Japan wants more investment incentives in Egypt
Japan wants more investment incentives in Egypt, particularly in the automotive industry: Japan’s External Trade Organization (JETRO) has been meeting with Cabinet and Trade and Industry Ministry officials to request more investment incentives for Japanese companies in Egypt, JETRO Egypt’s general manager Takashi Tsunemi tells the local press. JETRO is looking for incentives specifically in […]
Posted inEnergy
Egypt talks investment options with Germany’s Wintershall DEA
The Oil Ministry met with a delegation from Germany’s Wintershall DEA yesterday to explore investment options, according to a ministry statement. The two sides also discussed an agreement they signed in March for DEA to extend its ownership of the Ras Budran and Zeit Bay oil fields in the Gulf of Suez for a further […]
Posted inEnergy
Empower gets preliminary nod from BdC for EGP 70 mn loan
Renewable energy company Empower has reached a preliminary agreement with Banque du Caire to take out a EGP 70 mn loan, Chairman Hatem El Gamal told Mubasher. The money will be used to partially fund the establishment of a EGP 100 mn waste-to-energy plant in Nubareya, which will process around 160 tonnes of waste per […]