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CABINET WATCH- Cabinet gives nod to autonomy for the Financial Regulatory Authority: The Madbouly Cabinet approved yesterday a draft act that would grant the Financial Regulatory Authority (FRA) technical, financial and administrative autonomy from the government, according to a statement. The proposed law would require the FRA to submit an annual report on its activities […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Assem El-Gazzar named Housing Minister
We have a new housing minister: Assem El Gazzar was sworn in yesterday as our new housing minister. Prime Minister Moustafa Madbouly had been serving as both PM and housing minister since being named prime minister in 2018, Ittihadiya said in a statement. El-Gazzar, an academic, previously served as deputy housing minister and has served […]
Posted inSpeed Round
GAFI aims to amend fees for freezone industries
REGULATION WATCH- Could taxes on freezone products be going away? The General Authority for Investment (GAFI) could look at giving companies based in free zones a break, says Moatasem Rashed, the head of the Private Free Zones Investors Association, an industry association. Rashed is nudging GAFI to cut taxes and a fee imposed in 2017. […]
Posted inUncategorized
** SHARE ENTERPRISE WITH A FRIEND ** Enterprise is available without charge — just visit our English or Arabic subscription page, depending on which edition you would like to receive. We give you just about everything you need to know about Egypt, in your inbox Sunday through Thursday before 7am CLT (8am for Arabic), and […]
Posted inUp Next
What we’re tracking this week and beyond
The EGP 500 mn first part of the fourth phase of Cairo Metro Line 3 will open between tomorrow and Sunday, Al Mal reports. Suez Canal Authority boss Mohab Mamish will be in Moscow on Sunday to move forward an agreement on a USD 7 bn Russian Industrial Zone, Al Mal reports. Antitrust ruling: The […]
Posted inTHE MACRO PICTURE
Global credit conditions set to weaken, says Moody’s, but Egypt is gonna be okay
Global credit conditions set to weaken, says Moody’s, but Egypt is gonna be okay: Global credit conditions will weaken as growth slows and risk rises, according to Moody’s. The credit ratings agency said this week that the global economy is facing headwinds from multiple fronts: geopolitical tensions, liquidity issues in the financial markets, the Chinese […]
Posted inImage of the Day
International Space Station photographs Lake Nasser
Lake Nasser from space: The International Space Station captured this splendid photo of Lake Nasser from 251 miles above the Earth, according to OnOrbit.
Posted inEGYPT IN THE NEWS
Proposed constitutional amendments lead the conversation on Egypt in the foreign press
The anticipated impact of proposed constitutional amendments is leading the conversation about Egypt in the foreign press this morning, with the AP, Washington Post and Transparency International all expressing concern that the changes will “undermine the rule of law and oversight over executive authority.” They note that the 2014 constitution contained checks and balances designed […]
Posted inON THE FRONT PAGES
El Sisi’s sit-down with AUC’s president, board of trustees on Egypt’s front pages
President Abdel Fattah El Sisi’s sit-down with AUC’s president and board of trustees is the top story in state-owned Al Ahram and Al Akhbar this morning. Also featured on Al Ahram’s front page is Assem El Gazzar being sworn in as housing minister.
Posted inWorth reading
Why Egypt should pay attention to Dubai’s new solar powered desalination plants
Why Egypt should pay attention to Dubai’s new solar powered desalination plants: Fears of water scarcity in Egypt are an increasingly urgent topic of conversation, with the government stepping up its efforts to safeguard our supply of Nile water after the construction of the Grand Ethiopian Renaissance Dam, as well as promoting water conservation and […]