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The Cabinet will discuss the final draft of the SMEs Act next week, Finance Minister Mohamed Maait said. The government has been working on raising the VAT registration threshold with the aim of taking more SMEs out of VAT, a government official told Enterprise earlier this month.
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Yemen defence advisor dies in Giza road accident
Maj. Gen Abdel Kader Al-Amoudi, advisor to Yemen’s defense minister, died in a road accident in Giza after he was hit by a car, Ahram Gate reported. Investigators found the incident was an accident and not politically motivated. The driver has since been arrested.
Posted inEgypt Politics + Economics
Giza courts hand jail terms to 40 people convicted of human trafficking
A criminal court in Giza yesterday handed out jail sentences ranging between three and 16 years to 40 people found guilty of human trafficking, Reuters reports. AMAY noted that the accused were also given fines ranging between EGP 2k and EGP 500k. The defendants can appeal the sentences to the Court of Cassation, the highest […]
Posted inON YOUR WAY OUT
The robots are here. And they’re camel racing.
Robot camel races: A traditional bedouin camel racing event in Ismailia last week saw 150 camels cover distances of between five and 15 km, cheered on by more than 1,000 spectators, Reuters reports. But several Gulf countries have bowed to pressure from rights groups to ban the child jockeys who would typically keep the meandering […]
Posted inON YOUR WAY OUT
Which global cities have the highest population densities?
Which global cities have the highest population densities? These population density mapsshowing the number of people living in each square kilometre in cities around the world were created by the LSE Cities Urban Age Programme. How to read them: The higher the spike, the greater the density. And which city comes top? (Hint: it’s in […]
Posted inThe Market Yesterday
The Market Yesterday
EGP / USD CBE market average: Buy 17.25 | Sell 17.35 EGP / USD at CIB: Buy 17.23 | Sell 17.33 EGP / USD at NBE: Buy 17.25 | Sell 17.35 EGX30 (Tuesday): 14,646 (-1.8%) Turnover: EGP 969 mn (2% above the 90-day average) EGX 30 year-to-date: +12.35% THE MARKET ON TUESDAY: The EGX30 ended […]
Posted inCALENDAR
19-20 March (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate. 19 March (Tuesday): Portfolio Egypt Conference for non-banking financial services, venue TBD, Cairo, Egypt. 20 March (Wednesday): Trade Ministry opens trade show of products from 6 countries, Egypt International Exhibition Center, Nasr City, Cairo. 20 March […]
Posted inWhat We're Tracking Today
What we’re tracking on 19 March 2019
We are, to quote corporate Egypt, “cautiously optimistic” that the weeklong news drought is slowly coming to an end. Top execs at listed companies have largely wrapped FY2018 earnings season and still have a few weeks before finance starts peppering them with flash notes on 1Q performance — and we have all suddenly awoken to […]
Posted inEnterprise+: Last Night’s Talk Shows
EGP continues strengthening against USD, gov’t launches investment-focused initiative
Econ and business news kept the talking heads busy last night for a change as the Arab African Youth Platform in Upper Egypt came to an end. The EGP continued strengthening on Monday, hitting 17.32 against the USD, a fresh two-year high.GAFI boss Mohsen Adel told Al Hayah Al Youm that the jump came as […]