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The Public Enterprises Ministry is mulling re-issuing a tender to sell a 51% stake in the Shepheard Hotel in downtown Cairo or bringing the hotel under Egypt’s in-the-works EGP 200 bn sovereign wealth fund to finance the hotel’s development, Minister Hisham Tawfik tells Al Mal. The state-owned Egyptian General Company for Tourism and Hotels (EGOTH) […]
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Three consortiums bidding for Egypt’s Sixth of October-Giza monorail
Three consortiums are bidding for the tender to construct a monorail that will link Sixth of October to Giza, Transport Minister Hisham Arafat said, according to Al Mal. An earlier report had indicated that the first consortium included the Military Production Ministry, Malaysia’s Scomi Group and the UAE’s Arabtec Construction, the second included Arab Contractors, […]
Posted inLegislation + Policy
Misr El Kheir holds first round of public discussions for Egypt’s NGO Act
Misr El Kheir Foundation hosted yesterday the first round of “community dialogue” for the amendments to the NGO Act, local news reported. This comes after President Abdel Fattah El Sisi agreed last month to form a committee and to set the stage for amendments to the controversial law.
Posted inEgypt Politics + Economics
Overdue taxpayers have until end of week to avoid 70% of late penalties
Taxpayers have until the end of the week to settle overdue payments, and avoid 70% of incurred late penalties, according to a Finance Ministry statement. The ministry will grant another period of 50% penalty discounts between 28 December and 9 February 2019.
Posted inEgypt Politics + Economics
Prosecutor General refers 13 officials to criminal court in wheat corruption case
Prosecutor General Nabil Sadek referred 13 silo employees to criminal court yesterday on charges of graft worth EGP 607 mn, according to Youm7.
Posted inSports
Egypt’s national football team ranks 56th in end of year FIFA rankings
Egypt’s national football team came in 56th in the year-end FIFA/Coca Cola World Ranking. Belgium came in first for the third consecutive month.
Posted inON YOUR WAY OUT
BAT launches a campaign against the sale of tobacco products to U18s in Egypt
British American Tobacco (BAT) has launched a campaign against the sale of tobacco products to those under 18 years of age in Egypt, according to an emailed statement. The campaign, which follows a similar global campaign the company had launched last year, will aim to put in place preventative measures to curb the practice by […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.86 | Sell 17.95 EGP / USD at CIB: Buy 17.89 | Sell 17.96 EGP / USD at NBE: Buy 17.78 | Sell 17.88 EGX30 (Thursday): 13,138 (+0.5%) Turnover: EGP 925 mn (14% above the 90-day average) EGX 30 year-to-date: -12.5% THE MARKET ON THURSDAY: The EGX30 ended […]
Posted inCALENDAR
December: The government will announce the second phase of its privatization program before year-end, Public Enterprises Minister Hisham Tawfik said. The committee overseeing the state privatization program is also scheduled to hold a meeting next month to look into how market conditions developed since the privatization program was put on ice Mid-late December: The bylaws […]
Posted inWhat We're Tracking Today
What we’re tracking on 19 December 2018
Some notes as we get underway this morning: We’re deep in the arms of the year-end news slowdown. Expect a pickup late next week ahead of the CBE’s interest rate decision. But otherwise, it may actually be safe for you to contemplate leaving on Christmas / New Year’s / Festivus vacation. Our popular weekly My […]