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FinMin calls off EGX stamp tax increase: The Finance Ministry will not increase the stamp tax on EGX transactions this year. The move is meant to ease the financial burden on traders, according to a ministry statement. The tax was scheduled to increase to 0.175% from 0.15% on 1 June. The ministry introduced the tax […]
Author Archives: enterpriseam admin
Posted inSpeed Round
UK-based Statsbomb acquires Egyptian sports data company ArqamFC
EXCLUSIVE- UK-based Statsbomb acquires Egyptian sports data company ArqamFC: Sports data collection and analytics company ArqamFC announced yesterday it has been fully acquired by Statsbomb, a British football analytics provider with offices in Boston and Cairo, according to a statement (pdf). While the details of the transaction were not disclosed, ArqamFC’s management team will remain […]
Posted inSpeed Round
FinMin gives update on fiscal performance as the IMF arrives in Cairo
FinMin gives update on fiscal performance as the IMF arrives in Cairo: The budget deficit shrank to 5.3% of GDP in the first nine months of FY2018-19, compared to 6.2% in the same period a year earlier, Finance Minister Mohamed Maait announced in a press conference yesterday, according to a ministry statement (pdf). The primary […]
Posted inSpeed Round
Egypt fuel subsidies spending falls 28% in the first nine months of FY2018-19
Fuel subsidies spending falls 28% in the first nine months of FY2018-19: Government spending on fuel subsidies fell to EGP 60.1 bn in the first nine months of FY2018-19, declining 28.45% y-o-y from EGP 84 bn during the same period a year earlier, Oil Minister Tarek El Molla told Reuters’ Arabic service. The government set […]
Posted inSpeed Round
Egypt’s Health Ministry asks for increase in budget allocation for FY2019-20
BUDGET WATCH- Health Ministry follows Education Ministry’s lead in angling for better budget allocation: Health Minister Hala Zayed has asked the government to increase the budget allocation for the health sector to EGP 100 bn in the coming fiscal year, the local press reported. To implement the Universal Healthcare Act, the ministry requires an additional […]
Posted inSpeed Round
Executive regs to settle fines for building violations in Egypt coming soon
LEGISLATION WATCH- Exec regs for temporary law to settle building code violations will be issued soon: The executive regulations for the temporary law to settle building code violations are nearly complete and will be issued soon, House Housing Committee member Mohamed El Akad said, according to Youm7. The House of Representatives had approved earlier this […]
Posted inSpeed Round
Egypt, World Bank ink final agreement for USD 200 mn SMEs loan
Egypt, World Bank ink final agreement for USD 200 mn SMEs loan: Investment Minister Sahar Nasr and World Bank President David Malpass have signed the final agreement of a USD 200 mn loan to support SMEs and entrepreneurs, according to a ministry statement (pdf). Non-banking financial institutions will receive USD 145 mn to fund primarily […]
Posted inUncategorized
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Posted inImage of the Day
Visual data par excellence
Visual data par excellence: Is there a better way of illustrating the growing power of developing economies in international trade than these amazing interactive graphics from Bloomberg? We suspect not. This series of infographics show how emerging-market trade in agricultural goods, minerals, oil, and electronics has skyrocketed over the past two decades.
Posted inEGYPT IN THE NEWS
Egypt in the news on 08 May 2019
Topping coverage of Egypt in the international press this morning is wire pickups of a court decision to uphold death sentences for 13 suspected terrorists. Reuters and the Times of Israel had the story. Other headlines worth a moment of your time: Receiving official approval for mosalsalat production is becoming more complicated, impacting what we […]