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Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
COMESA, AU officials talk increasing investments in Africa, conserving resources
Still more Africa love with joint interviews from Addis Ababa: Masaa DMC, Hona Al Asema, ONTV, and Al Hayah Al Youm once again pooled their resources and aired joint interviews from Addis Ababa last night. Growing intra-African trade is contingent on improving infrastructure and addressing energy shortages, COMESA Business Council Chairman Amany Asfour said (watch, […]
Posted inSpeed Round
BP brings Giza and Fayoum gas fields online
New, investor-friendly production-sharing agreements are in the spotlight as gov’t pushes Egypt as a regional energy hub. The three-day Egypt Petroleum Show, which got underway yesterday, is best thought of as the physical embodiment of the Sisi administration’s strategy to position Egypt as the premier eastern Mediterranean energy hub. Domestic and international media offered wall-to-wall […]
Posted inSpeed Round
All set for Israeli gas coming to Egypt except one little thing: Israel has no enough pipeline capacity
Israel is struggling to find a way to export its gas to Egypt. The southern Israeli gas pipeline that is meant to carry gas from the Leviathan and Tamar fields to the East Mediterranean Gas (EMG) pipeline into Egypt does not have the capacity to carry the volumes the fields’ partners have contracted to sell […]
Posted inSpeed Round
FinMin forecasts spending at EGP 1.5 tn in draft FY2019-20 state budget
EXCLUSIVE- FinMin’s draft FY2019-20 state budget sees spending at EGP 1.5 tn: The draft FY2019-20 state budget forecasts government spending at EGP 1.5 tn, a senior government official tells us. Public wages will account for EGP 294.9 bn of total spending, up from EGP 266 bn in the current fiscal year, which ends in June. […]
Posted inSpeed Round
Industry Ministry targets 8% growth for the industrial sector
Industry Ministry targets 8% industrial growth by 2020: The Industry Ministry wants to see industry growing at an 8% annual clip by 2020, the ministry said in a statement. It is also wants to see manufacturers account for 21% of GDP, up from 18% today, while also boosting the contribution of SMEs and the private […]
Posted inSpeed Round
China Eximbank to finance Egypt’s USD 2.6 bn Attaqa hydroelectric plant
China Eximbank to finance USD 2.6 bn large-scale Attaqa hydroelectric plant: The Egyptian Electricity Holding Company has signed a financing agreement with the Export–Import Bank of China for the USD 2.6 bn, 2400 MW Attaqa pumped-storage hydroelectric plant, sources from the ministry said. EEHC is expecting to finalize the contracts for the project with China’s […]
Posted inSpeed Round
Egypt’s House committee gives preliminary nod to E-payments Act
LEGISLATION WATCH- House committee gives preliminary nod to E-payments Act: The House of Representatives’ Economic Committee has preliminarily approved the final draft of the E-payments Act, according to reports in the local press. The House general assembly is kick the tires of the final bill — which seeks to guide Egypt’s transition to a cashless […]
Posted inSpeed Round
Moody’s maintains positive outlook on Egypt’s banking system
Moody’s maintains positive outlook on Egypt’s banking system: Moody’s Investors Service said in a report on Monday (pdf) that it has maintained its positive outlook on Egypt’s banking system amid “an improving operating environment.” Stable funding and liquidity in EGP, FX to remain under pressure: The ratings agency said banks will continue to enjoy access […]
Posted inSpeed Round
House to consider new salary-related amendments to Income Tax Act
LEGISLATION WATCH- An MP is trying to sneak in changes to how salaries are taxed: The House Planning and Budget Committee will discuss in the coming days new amendments to the Income Tax Act that would change the tax code and rates on salaries, Al Mal reports. The amendments, proposed by Rep. Mervat Alexan with […]