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Egyptian accounting standards change: Investment and International Cooperation Minister Sahar Nasr issued on Thursday amendments to the Egyptian Accounting Standards to bring the standards in line with IFRS 9 and IFRS 15 regulations, according to a ministry statement.
Author Archives: enterpriseam admin
Posted inSpeed Round
AIND reports record EGP 72.7 mn net profit in 2018
EARNINGS WATCH- B Investments posted net profits of EGP 194 mn in 2018, a 46% increase from the EGP 133 mn net profit reported in 2017, according to the company’s earnings statement (pdf). This was driven by a 43% rise in revenues, which increased to EGP 245 mn in 2018 from EGP 172 mn the […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Alaa Abdel Fattah’s release from prison leads the conversation on Egypt
Leading the conversation on Egypt over the weekend was the release of prominent activist Alaa Abdel Fattah after five years behind bars. Abdel Fattah, who was imprisoned for violating the 2013 anti-protest law, will be required to spend the night at a police station for the next five years, Reuters reports. The Washington Post, the […]
Posted inON THE FRONT PAGES
El Sisi’s decision to raise min wage for Egypt’s civil servants on the front pages
President Abdel Fattah El Sisi’s announcement of a higher minimum wage for civil servants topped the front pages of all three state-owned newspapers this morning (Al Ahram | Al Gomhuria | Al Akhbar). El Sisi declared the move in a speech during yesterday’s national ceremony honouring women.
Posted inWorth reading
Drone deliveries may soon become reality (but not if you live in the city)
Drone deliveries may soon become reality (but not if you live in the city): Ecommerce companies are looking to the suburbs to bring drone-based home delivery systems into the mainstream, Wall Street Journal tech columnist Christopher Mims writes in a piece on the legal and urban obstacles to having coffee ‘drone-delivered’ to your door before […]
Posted inDiplomacy + Foreign Trade
Shoukry lands in Tunisia for Arab League Summit
Shoukry in Tunisia ahead of Arab League Summit: Foreign Minister Sameh Shoukry landed in Tunisia on Friday for a weekend of meetings in preparation for the upcoming Arab League Summit, which begins today, according to a Foreign Ministry statement. The meeting is expected to reach a consensus over Syria’s membership in the league, which was […]
Posted inEnergy
Seventeen solar plants at Benban connected to the national grid
Seventeen solar plants in the Benban solar power park have been connected to the national grid, said the head of electricity sector projects in Upper Egypt, Ahmed Fathy, according to local reports. Fathy did not disclosed the production capacity of the connected plants. Benban will produce 1.8 GW of energy when completed.
Posted inBasic Materials + Commodities
GASC receives five offers during rice tender
State grain buyer GASC received five offers yesterday for Indian, Chinese and Vietnamese rice during its tender, though no additional details were provided on the offers, reports Reuters. The rice is expected to be delivered in two batches, with the first arriving in the first half of June.
Posted inBasic Materials + Commodities
Gulf investors express interest in land reclamation projects
Saudi, Emirati and Omani investors have indicated interest in purchasing land included in the project to convert 1.5 mn feddans of desert land into agricultural projects, according to statements from the CEO of the Egyptian Countryside Development Company Ater Hanoura, reports Al Shorouk.