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LEGISLATION WATCH- Small amendments to capital requirements in latest draft of proposed Insurance Act: The Financial Regulatory Authority (FRA) has largely kept minimum capital requirements for property and life insurance companies unchanged in the final draft of the new Insurance Act, sources told Al Mal. The minimum for life and property insurance companies remained at […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s Finance Ministry finalizes PPP law amendments
LEGISLATION WATCH- FinMin finalizes PPP Act amendments: The Finance Ministry has put the final touches on draft amendments that would streamline public-private partnership (PPP) contracts, according to a cabinet statement. The draft received cabinet approval late last year and has been with the government since then. What is changing? The amendments would cut the time […]
Posted inSpeed Round
Cabinet agrees to lower interest rates on industrial land purchases
CABINET WATCH- Gov’t agrees to lower interest rates on industrial land purchases: The cabinet has agreed to a proposal from the Industrial Zones Coordination Council to set the interest rate for industrial land purchases at 7% per year,instead of CBE rates, it said in a statement yesterday following its weekly meeting. The decree, effective for […]
Posted inSpeed Round
Toyota snubs Saudi Arabia
Toyota snubs Saudi Arabia: Toyota is reportedly backing out of plans to build a car plant in Saudi Arabia, sources close to the matter tell Reuters. “Nobody would say ‘No, full stop’ ... but they politely conveyed they’re not interested,” one source is quoted as having said. Saudi Arabia signed an MoU with Toyota back […]
Posted inSpeed Round
Correction
CORRECTION- We reported yesterday that Attijariwafa Bank has named Hicham Seffa (LinkedIn) as managing director in Egypt to succeed Halla Sakr, who will assume a new position: She is to become the lender’s chairman (pending central bank approval), not its CEO as we said yesterday. We have corrected the story on our website.
Posted inSpeed Round
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Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Morsi, Afcon dominate coverage
Morsi’s death and Afcon dominate the conversation on Egypt in the international press this morning: Barrels of toxic ink are being spilled on Egypt in the foreign press. There were many pickups of wire reports on the news that Egypt accused the UN of being politically motivated in its calls for an investigation into Morsi’s […]
Posted inON THE FRONT PAGES
El Sisi talks cooperation with Romanian president
El Sisi talks cooperation in Romania visit: A meeting between President Abdel Fattah El Sisi and his Romanian counterpart, President Klaus Iohannis, topped the front pages of Al Ahram and Al Akhbar this morning.
Posted inWorth watching
What African economic integration could do for Egypt
Is Tarek Amer calling for an African version of the ECB? CBE Governor Tarek Amer spoke on the benefits of African nations further integrating their economies, going so far as to call for a unified monetary policy for the continent. Speaking with CNBC Africa on the sidelines of last week’s African Development Bank Annual Meetings […]