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A reminder as we head into the madness that is Black (or white, if you must) Friday in Egypt: We’re not alone in wanting to tax online sales: “At least 32 [US] states have passed or are soon expected to pass laws requiring online sellers to collect and remit sales taxes,” Reuters reports. The challenges […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
More what we’re tracking on 22 November 2018: New era for equities, oil closes up, most-clicked stories, Happy Thanksgiving
Is the tech-led selloff the start of a new era for equities? Western markets took a bit of a breather yesterday heading into Thanksgiving weekend in the US, and trading in Asia is relatively calm this morning. But something is shifting: “A market tornado that began in the US technology sector broadened into a global […]
Posted inEnterprise+: Last Night’s Talk Shows
Another night of miscellany on last night’s talk shows
It was another night of miscellany on last night’s talk shows, with no overarching theme or topic of discussion emerging. Increasing the private sector’s role in the economy was the topic of a roundtable discussion between Egyptian Businessmen’s Association Chairman Ali Eissa, industrial investors syndicate head Mohamed El Genidy and head of the Federation of […]
Posted inSpeed Round
Egypt finalizes settlement with Israel on USD 1.76 bn int’l arbitration ruling
Egypt finalizes settlement with Israel on USD 1.76 bn int’l arbitration ruling: The Madbouly government has finalized a settlement to reduce a USD 1.76 bn award Israeli Electric Company won in 2012 against EGAS, EGPC and East Mediterranean Gas (EMG), unnamed government sources told the domestic press. The settlement, awarded for the cut-off of natural […]
Posted inSpeed Round
*** How do you expect your business to do in 2019? Each year, we ask readers to weigh in on what they expect of the year ahead — whether they’re investing or hiring. What they expect the exchange rate to be. Whether interest rates are winds at their backs — or headwinds. Take part in […]
Posted inSpeed Round
Gov’t to force banks to separately account for income from holdings of state debt
Banks will be required to separately account for their earnings on holdings of t-bills and gov’t bonds: The Madbouly Cabinet approved yesterday amendments to the Income Tax Act that will, if enacted, force banks and financial institutions separately account on their income statements for returns from their investments in government debt, according to a statement […]
Posted inSpeed Round
Competition watchdog aiming for out-of-court settlement of EGP 5.6 bn fine for pharma distributors?
Competition watchdog aiming for out-of-court settlement with pharma distributors? The Egyptian Competition Authority (ECA) is reportedly looking to reach an out-of-court settlement with four pharma companies it slapped with EGP 5.6 bn in fines for alleged anti-competitive behaviour, judicial sources said. The ECA successfully brought a case against players including Ibnsina, Ramco, Multipharma, and United […]
Posted inSpeed Round
Algebra Ventures joins USD 16 mn series ‘C’ funding for the UAE’s HolidayMe
INVESTMENT WATCH- Algebra Ventures joins USD 16 mn series ‘C’ funding for the UAE’s HolidayMe: Our friends at Algebra Ventures joined a USD 16 mn series ‘C’ funding round for Dubai-based HolidayMe, the firm said in a statement (pdf). Algebra invested alongside Gobi Partners, Accel Partners, and Global Ventures. Four-year-old HolidayMe is an online platform […]
Posted inSpeed Round
Russia’s Metprom to invest EUR 210 mn in two steel projects in Egypt
INVESTMENT WATCH- Russia’s Metprom to invest EUR 210 mn in two steel projects: Russian metallurgy company Metprom is planning to invest EUR 210 mn in two projects in Egypt, Metprom Chairman Stel Lomachenko told Trade and Industry Minister Amr Nassar during his visit to Moscow this week, according to a ministry statement. The company plans […]