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Posted inEnterprise+: Last Night’s Talk Shows
Talking heads economize with joint interview with Sameh Shoukry on Egypt’s AU chairmanship
The talking heads decided to be economical last night and aired a joint interview with Foreign Minister Sameh Shoukry on Egypt’s assumption of the African Union chairmanship. Shoukry’s interview in Addis Ababa aired on Masaa DMC, Hona Al Asema, ONTV, and Al Hayah Al Youm. The minister touched on everything from the “historic” support Egypt […]
Posted inSpeed Round
January inflation inches up, economists expect rates to remain steady on Thursday
Expect the CBE to leave interest rates on hold this Thursday after inflation rises slightly in January: Egypt’s annual headline urban inflation rate increased slightly to 12.7% in January compared to 12% the previous month, according to a central bank statement (pdf) out yesterday. Monthly inflation also rose to 0.4% from 0% in December. Annual […]
Posted inSpeed Round
Government reviews FX rate, oil price at 2018/2019 budget
FinMin sees growth accelerating, forecasts weaker average EGP exchange rate this fiscal year, will budget for oil at USD 67 / bbl for next year: The Finance Ministry revised its expected average USD:EGP exchange rate for the current (2018-19) fiscal year ending in June to EGP 18 to the greenback against an earlier forecast of […]
Posted inSpeed Round
Government expects to announce list of IPO companies within two weeks
Government expects to announce list of companies for privatization program within two weeks: The government is preparing a list of four companies that will sell shares via IPO in phase two of the state’s privatization program, Public Enterprises Minister Hisham Tawfik told Hapi. Tawfik said the first phase of the program, which focuses on stake […]
Posted inSpeed Round
Government is postponing decision to cut gas prices for factories
Government postpones decision on cutting gas prices for factories: The cabinet is postponing a decision to cut natural gas prices to factories, government sources told Amwal Al Ghad. The request to cut gas prices came from the Industry Ministry, which said that the decision would provide incentives to manufacturers while boosting the competitiveness of Egyptian […]
Posted inSpeed Round
Government to decide on next payment of overdue export subsidies next month
Government to decide on next month on payment of overdue export subsidies: The government will decide next month when and how much it will disburse as it looks to make good on overdue export subsidy payments, Finance Minister Mohamed Maait told Hapi. The payments will be scheduled over a “proportionally long time” and a new […]
Posted inSpeed Round
FinMin denies plans to repeal real estate tax exemption for private homes in Egypt
FinMin denies it has plans to repeal real estate tax exemption for private homes: The Finance Ministry issued a statement yesterday denying our report that it is mulling scrapping an exemption on real estate taxes for private homes worth less than EGP 2 mn under a new Real Estate Tax Act currently in the works. […]
Posted inSpeed Round
Veon moves ahead with EGX-listed GTH take-private bid
M&A WATCH- Veon files for approval of EGP 11 bn GTH takeover bid: Veon Holdings, the majority shareholder in EGX-listed Global Telecom Holding (GTH), has filed for regulatory approval to make a tender offer for the 42.3% of the company that it does not already own, the Financial Regulatory Authority said in a notice to […]
Posted inSpeed Round
House moves up vote on general committee report on proposed constitutional amendments
LEGISLATION WATCH- House moves up vote on general committee report on proposed constitutional amendments: The House of Representatives is due to vote on Wednesday on a report prepared by its general committee, which is comprised of the House speaker and heads of committees, on proposed amendments to the constitution, according to Ahram Online. The plenary […]