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The nation has clarity this morning on the package of constitutional amendments on which we may be called to vote in a referendum that could be held as early as next week. We have a full breakdown in this morning’s Speed Round. Also coming up this week: A delegation of 21 Hungarian companies will arrive […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
El Sisi inspects final works at Rod El Farag axis
President Abdel Fattah El Sisi’s visit to “lay the final brick” on the Rod El Farag Axis Bridge yesterday was the leading topic on the airwaves last night. The visit came ahead of the official inauguration of the bridge, which links northeast Cairo with the Alexandria Desert Road. Al Hayah Al Youm’s Lobna Assal took […]
Posted inSpeed Round
Egypt’s proposed constitutional amendments get committee-level approval
House to vote tomorrow on package of constitutional amendments; El Sisi could run for one more term, staying in office until 2030: The House of Representatives’ Legislative and Constitutional Affairs committee has approved a package of constitutional amendments in their final form, setting up a vote on Tuesday by the House general assembly, Youm7 reports. […]
Posted inSpeed Round
Egyptian securities to be Euroclearable in six months’ time
Egypt eyes “euroclearable” sovereign debt issuance in September: The government is looking to announce a sovereign debt issuance that can be cleared through Belgium-based clearinghouse Euroclear by late September, Finance Minister Mohamed Maait told Reuters. The minister had said over the weekend that the Finance Ministry has signed an MoU with Euroclear to make EGP-denominated […]
Posted inSpeed Round
Egypt and Israel to settle gas arbitration in coming months
A resolution to the nearly USD 1.8 bn Egypt-Israel natgas arbitration case seems to be within arm’s reach, if statements from Israeli Energy Minister Yuval Steinitz to Reuters are anything to go by. “I think there is already a final understanding, but it needs approval of the Israeli electric authority and maybe also of someone […]
Posted inSpeed Round
Carbon begins construction of USD 11 bn Tahrir Petchem Complex
Carbon breaks ground on USD 11 bn Tahrir Petchem Complex: Carbon Holdings has broken ground on its USD 10.9 bn Tahrir Petrochemicals Complex (TPC) in Ain Sokhna’s economic zone, Suez Canal Authority head Mohab Mamish said in a statement. Carbon received the land last month and expects to complete the project within five years. TPC […]
Posted inSpeed Round
Egypt’s gov’t still studying lower energy prices for factories
Gov’t studying lower energy prices for factories? The government is looking into revising the price at which it sells energy to factories, Deputy Planning Minister Ahmed Kamaly said yesterday at a trade and industry-focused event, according to Al Mal. The minister’s statements were likely in response to calls by the Federation of Egyptian Industries for […]
Posted inSpeed Round
FinMin decides to raise stamp tax on mobile phone bills to EGP 12
EXCLUSIVE- FinMin committee examines stamp tax overhaul: A Finance Ministry committee is looking would could be a “large number” of amendments to the outdated Stamp Tax Act, with one likely change involving doubling the annual stamp tax on pre-paid mobile phone lines to EGP 12, a senior government official tells Enterprise. The ministry has been […]
Posted inSpeed Round
FinMin gives 15 government entities until end of month to disclose special funds
FinMin issues ultimatum to gov’t entities on disclosing special funds before month-end: The Finance Ministry has issued formal requests to 15 government entities with some 750 bank accounts connected to their “special funds” to disclose these accounts to the government for regulatory oversight, Al Mal reports. The ministry has threatened to seize these accounts, which […]