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LEGISLATION WATCH- The SMEs Act includes tax and non-tax incentives worth EGP 1.5-2 bn annually to support entrepreneurship and encourage SMEs to go legit, said Hisham Ragab, an advisor to the trade and industry minister. In measures recently approved by cabinet for introduction in the House, businesses with turnover of up to EGP 10 mn […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Supply Ministry to begin registering newborns to subsidy rolls as of June, after completing its Kramer purge
The Supply Ministry will begin registering newborns on its subsidy rolls in June, despite having yet to actually remove any Kramers from the system, Minister Ali El Moselhy said, according to the local press. Thus far, Kramers who have been mooching off the subsidy program have only been notified that their subsidy privileges will be […]
Posted inSpeed Round
Gov’t to issue tender regs for industrial land next month
REGULATION WATCH- The government aims to issue next month new regulations for industrial land tenders, said Industrial Development Authority (IDA) boss Magdy Ghazi. The regulations, which are currently being drafted by the Cabinet in collaboration with the IDA, would require investors to complete the construction of facilities and have them up and running within three […]
Posted inSpeed Round
Egypt’s Industrial Development Authority suspends licensing for tuk-tuk makers
REGULATION WATCH- No more licenses for tuk-tuk makers: The Industrial Development Authority (IDA) has decided to stop handing out licenses to tuk-tuk manufacturers and assemblers that are looking to expand in Egypt, a Trade Ministry source tells Youm7. The decision comes in light of government orders to curb their use as a means of transport […]
Posted inSpeed Round
Egypt cracks top five favored locations for contact center outsourcing
Egypt cracks top-five in global contact center ranking: Egypt was ranked as the fourth most-favored destination to outsource contact centers, according to Ryan Strategic Advisory’s 2019 Front Office Omnibus Survey. The survey polls nearly 500 contact center decision makers in key markets such as the UK, Australia, France, and Germany to gauge the most preferred […]
Posted inSpeed Round
Earnings watch: BdC, Domty, B Investments, NBE
EARNINGS WATCH- Banque du Caire reported a significant 221.5% jump in net profit after tax to EGP 2.5 bn in 2018, up from EGP 800 mn a year earlier, Al-Ahram reports. “The year 2018 was a turning point for the bank’s strategy, with achievements across all departments,” Chairman and CEO Tarek Fayed said. This came […]
Posted inSpeed Round
Egypt’s state-owned oil tanker company MIDTAP gets new CEO
MOVES- Appointments at state-owned petroleum companies: Oil minister Tarek El Molla has named Adel Elsayed Elsheyoukh as CEO of state oil tanker company MIDTAP, while assigning Ibrahim Aly Abouelenein to top role at Petrogas and Osama Mostafa Al Boghdady at offshore drilling company Osoco, reports the local press.
Posted inSpeed Round
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Posted inEGYPT IN THE NEWS
Egypt in the News on 01 April 2019.
It’s a slow morning for Egypt in the international press — So slow that the most widely covered story is the Cairo derby between Al Ahly and Zamalek. The match finished 0-0 as both teams struggled with a pitch “so inundated with rainwater that every sliding tackle made a splash,” the National says. Xihnua and […]