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Egypt could combine stamp duty and capital gains taxes on stock market investments to reduce the financial burden on investors, EGX boss Mohamed Farid told Reuters. Proposed amendments could have the government refund a portion of the stamp duty if its value exceeded capital gains that are paid towards the end of the year, Farid […]
Author Archives: enterpriseam admin
Posted inSpeed Round
UK trade secretary meets Amr Nassar for trade talks
Trade minister holds talks with UK trade secretary on post-Brexit ties: British trade secretary Liam Fox sat down with Trade Minister Amr Nassar for talks about the UK’s post-Brexit trade relationship with Egypt, according to a ministry statement (pdf). Post-Brexit talks started last year: Brexit would see the UK abandon a trade pact that saw […]
Posted inSpeed Round
Tax break scheme for Egyptian exporters launches tomorrow on trial basis
Tax breaks for exporters to launch tomorrow on trial basis: The Tax Authority will meet tomorrow with leaders of Egypt’s export councils to implement on a trial basis the tax settlement mechanism which will be introduced under the new export subsidy program, Al Shorouk reports. We noted yesterday that exporters will be getting tax breaks […]
Posted inSpeed Round
Earnings watch: Elsewedy Electric net profits fall 32% in 1Q2019
EARNINGS WATCH- Elsewedy Electric reported a 32% y-o-y drop in net profit to EGP 957.2 mn in 1Q2019, down from EGP 1.4 bn in 1Q2018, the company said in its earnings release (pdf). Revenues for the quarter grew 12% y-o-y to EGP 11.2 bn from EGP 9.9 bn in 2018. Revenue growth was driven primarily […]
Posted inSpeed Round
EFG Hermes advises on Saudi healthcare merger
EFG advises on Saudi healthcare merger: EFG Hermes has completed advisory on a JV agreement between London Stock Exchange-listed UAE healthcare provider NMC Healthcare and Hassana Investment Company, the investment wing of the Saudi General Organization for Social Insurance, the bank said in a statement (pdf). NMC Health will own a majority 53% stake in […]
Posted inSpeed Round
Mohamed El Erian appointed as president of Queens’ College at Cambridge University
MOVES- Markets sage and Allianz chief economic advisor Mohamed El Erian (LinkedIn) has been appointed president at Cambridge University’s Queens’ College, Bloomberg reports. El Erian will succeed Lord John Leonard Eatwell in October 2020. The son of an Egyptian diplomat and a four-time feature of Foreign Policy’s Top 100 Global Thinkers, El Erian is the […]
Posted inSpeed Round
El Sisi orders appointment of Fakhry El Fekki as member of CBE’s BoD
MOVES- President Abdel Fattah El Sisi has appointed (pdf) Fakhry El Fekki (bio, pdf) to the board of directors of the Central Bank of Egypt, replacing Planning Minister Hala El Said. Fekki has served with the IMF, United Nations and World Bank in a career that has so far spanned 35 years.
Posted inSpeed Round
Mahmoud Mohieldin appointed as member of AmCham’s advisory council
MOVES- World Bank Group senior vice president Mahmoud Mohieldin has been appointed as a member of the AmCham’s advisory council, Al Shorouk reports.
Posted inSpeed Round
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