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Farmer’s Syndicate head Hussein Abdel Rahman called on the Central Bank of Egypt (CBE) to extend the deadline for its initiative to support farmers, under which banks exempt debtors from paying accrued interest on unpaid loans if they pay their principal amounts before 31 December, AMAY reports. Under the CBE’s initiative, state-owned banks settle debts […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Damietta Furniture City, Military Production Ministry to build EGP 3 bn mall
The Damietta Furniture City Company and a Military Production Ministry subsidiary will build a EGP 3 bn furniture mall in Damietta Furniture City, sources close to the matter said, according to Al Mal. The project will be funded through the ministry.
Posted inOther Business News of Note
Egyptian businessmen to set up company in Tanzania to boost Africa exports
Ten unnamed Egyptian businessmen are working on setting up a company in Tanzania to boost Egyptian exports in Africa, Federation of Egyptian Industries (FEI) board member Mahmoud Sarg said. The company, which will export Egyptian products to Tanzania and neighboring countries, will be in business by 1Q2019, Sarg said.
Posted inLegislation + Policy
House committee working on bill to manage population growth
The House Defense and National Security Committee is working on a bill to control Egypt’s rapidly growing population through offering benefits and incentives to parents with no more than two children, Egypt Today reported. Committee Head Kamal Amer said the draft law, which will not include punishments, will be issued during the current legislative session. […]
Posted inLegislation + Policy
House MP wants to fix divorce rates by limiting ‘khula’ law
House Rep. Suleiman El Emeiry has requested that the government draft a bill that would impose greater restrictions on women’s ability to initiate divorces in Egypt through “khula,” which allows them to lawfully end their marriage without permission from their husband, Al Mal reports. Women who initiate khula are also required to forfeit their financial […]
Posted inEgypt Politics + Economics
Prosecutor General refers policeman to trial for killing Christian father and son
Prosecutor General Nabil Sadek referred yesterday a police officer to trial on charges of the premeditated murder of a Coptic Christian father and son in Minya, Reuters Arabic reported. The police officer, Rabea Khalifa, reportedly shot the father and son after an argument last Wednesday. The killing sparked backlash with hundreds in Minya staging a […]
Posted inEgypt Politics + Economics
Cairo Criminal Court orders release of human rights activist Amal Fathy
The Cairo Criminal Court ordered yesterday the release of human rights activist Amal Fathy under probationary measures, Al Shorouk reports. Fathy had been detained on charges of “spreading false news” and belonging to a terrorist group. The activist is still facing a two-year prison sentence in a separate case pertaining to her controversial Facebook video, […]
Posted inON YOUR WAY OUT
National Council for Childhood and Motherhood steps in to prevent underage marriage
The National Council for Childhood and Motherhood intervened to prevent an underage marriage between a 15-year-old girl and a 14-year-old boy in Kafr El Sheikh after videos of the teenagers’ engagement party went viral on social media, according to Ahram Online. Following the council’s intervention, the children’s parents said they would wait until they both […]
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 (Tuesday): 13,121 (-0.7%) Turnover: EGP 817 mn (1% above the 90-day average) EGX 30 year-to-date: -12.6% THE MARKET ON TUESDAY: 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 18-19 December (Tuesday-Wednesday): Federation […]