Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Welcome to one of the slowest news days of the past year, ladies and gentlemen. We hope your first day of fasting passed smoothly yesterday — only have 29 more days to go. In the meantime, the Associated Press brings us a rundown of key facts about the holy month that you can forward to […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Egypt’s talk shows are on hiatus for Ramadan
Nothing to see here, ladies and gents. The talking heads are on hiatus for the month of Ramadan. While we are eternally grateful for the month-long break from listening to them drone on, we’ll still keep one eye on the airwaves to bring you anything worth noting.
Posted inSpeed Round
FinMin studies setting a ceiling on Egypt’s healthcare tithe next year
EXCLUSIVE- FinMin studies setting a ceiling on healthcare tithe next year: The Finance Ministry is studying a proposal that would set a limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, a senior official from the Finance Ministry told Enterprise on Monday. Under the measure now being considered, businesses […]
Posted inSpeed Round
Education Ministry wants to squeeze state coffers for an additional EGP 11 bn in FY2019-20
BUDGET WATCH- Let the horse-trading begin: The Education Ministry wants an additional EGP 11 bn in FY2019-20 budget. The annual public jockeying to increase the government’s budgetary earmarks for education has begun, with the Education Ministry asking the Finance Ministry for an additional EGP 11 bn, House Planning and Budgeting Committee Chair Yasser Omar tells […]
Posted inSpeed Round
GAFI issues regs on how preferred shares work in Egypt
REGULATION WATCH- Tweaks to regulations on how preferred shares (or preference shares, if you prefer) work: The General Authority for Freezones and Investment (GAFI) has issued regulations for issuing preferred shares when establishing a new company or increasing the capital of an existing stock or shareholding company, it said in a statement. The regulations include […]
Posted inSpeed Round
Capital market authorities consider lowering EGX fees
REGULATION WATCH- Regulators are considering lowering fees on stock market transactions in an ongoing effort to mitigate the effect of a rising stamp tax, which is set to increase to 0.175% from 0.15% on 1 June, sources close to the matter told Al Mal. The Financial Regulatory Authority, the EGX, Misr Central Clearing, Depository and […]
Posted inSpeed Round
Intro Energy inaugurates 5 MW solar power plant in Sharm El Sheikh
Intro Energy inaugurates 5 MW solar power plant in Sharm El Sheikh: Intro Group subsidiary Intro Energy, along with co-developer Gila AlTawakol Electric and technical partner Schneider Electric, have inaugurated a 5 MW solar power plant in Sharm El Sheikh, according to an emailed statement (pdf). The facility, which was set up under the feed-in […]
Posted inSpeed Round
Egypt sells USD 1 bn of one-year USD-denominated treasury bills
The government sold USD 1 bn worth of USD-denominated treasury bills at an auction on Monday, according to the central bank’s website. The one-yearbills were sold at an average yield of 3.897%. The auction will be settled today.
Posted inSpeed Round
Earnings Watch: Global Telecom 1Q profits rise 61.2% y-o-y
EARNINGS WATCH- EGX-listed Global Telecom Holding (GTH) reported a net profit of USD 51 mn in 1Q2019, up 61.2% y-o-y from USD 32 mn last year, the company said in a statement (pdf). Reported revenues fell 1.6% y-o-y to USD 688 mn, while organic revenues rose 12.8% y-o-y. Organic revenues only account for sales and […]