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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Our daily roundup of last night’s talk shows will be back after Ramadan. The talking heads are on vacation this month.
Posted inSpeed Round
Egypt’s industry could catch a break from high electricity prices, gov’t to announce new rates “in days”
Manufacturers could catch a break as gov’t looks set to announce new electricity prices for industry today: Industrial producers could see their electricity bills fall in the state’s new fiscal year, which starts in July, government sources told the domestic press. Businesses in the medium, high, and ultra-high consumption tiers could see prices decrease as […]
Posted inSpeed Round
Banking Act to impose term limits on board members at state-owned banks
LEGISLATION WATCH- Banking Act to impose term limits on board members at state-owned banks: The new draft Banking Act would, if passed, would put a cap of three consecutive terms on board members of state-owned banks, according to Masrawy. The current version of the law imposes no term limits, but caps each term for a […]
Posted inSpeed Round
Tax Authority to exempt exporters from cargo services VAT
EXCLUSIVE- Tax Authority exempts exporters from paying VAT on shipping services: The Tax Authority has issued a decree that will exempt shipping companies from charging and remitting VAT from exporters, Tax Authority boss Abdel Azim Hussein tells Enterprise. The decision applies to all companies providing shipping services via land, air and sea. Exporters will need […]
Posted inSpeed Round
EFG Hermes to begin operations in Vietnam through partnership with ACBS
EFG Hermes to begin operations in Vietnam through partnership with ACBS: EFG Hermes has signed a partnership agreement with Vietnam’s Asia Commercial Bank Securities that will allow its clients to trade on the Hanoi Stock Exchange, Ho Chi Minh City Exchange and UPCOM, EFG Hermes said in a bourse filing (pdf). “The partnership will see […]
Posted inSpeed Round
Barrick Gold mulls investment in Egypt’s Arabian-Nubian Shield
Barrick Gold could be eyeing assets in Egypt’s Arabian-Nubian Shield, Seeking Alpha reported CEO Mark Bristow as saying. The mining company is reportedly planning to explore the area and could sell its stake in the Jabal Sayid copper mine in Saudi Arabia if it finds gold or copper deposits. “I think they will seriously look […]
Posted inSpeed Round
Hosni Mubarak sees Trump’s Middle East peace plan as cause for concern
Mubarak sees Trump’s Middle East peace plan as cause for concern: Recent developments in the Israeli-Palestinian conflict are cause for concern that US President Donald Trump’s Middle East peace plan will be tough for the Arab world to swallow, former president Hosni Mubarak tells Kuwait’s Al Anba in an interview. Mubarak points to the US […]
Posted inSpeed Round
Seven Egyptian startups make 2019 Global Entrepreneurship Summit
Seven Egyptian startups have been selected to participate in the 2019 Global Entrepreneurship Summit (GES)due to take place 3-5 June in the Netherlands, the US Embassy said yesterday (pdf). The startups, which include household names Swvl and Elves along with health providers SmartCare, Al-Mouneer, and Chitosan, and agriculture businesses Breadfast and Agrimatic Farms, will join […]
Posted inSpeed Round
Clarification
CLARIFICATION- We noted yesterday GB Auto Chairman Raouf Ghabbour’s sit-down with Al Masry Al Youm, in which he spoke of the obstacles facing the automotive sector. For the sake of accuracy, note that Ghabbour did not pin the blame on the Madbouly Cabinet’s economic group as a whole, but singled out the “responsible minister” as […]