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28-30 October (Sunday-Tuesday): 1st Sharm El Sheikh Rendezvous, annual meeting of the insurance and reinsurance industry, Savoy Resort, Sharm El Sheikh, Egypt. November: A delegation of French pharmaceutical and medical equipment companies is set to visit Egypt sometime in November to explore potential investments, according to a Trade Ministry statement. 01-02 November (Thursday-Friday): Annual Middle […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 28 October 2018
To say that the weekend was bland on the news front would be an understatement. We’re hoping things pick up a little bit as the week progresses. ** #7 President Abdel Fattah El Sisi is off to Berlin today for a four-day visit, where he will attend an Africa-focused G20 Investment Summit on Tuesday. El […]
Posted inEnterprise+: Last Night’s Talk Shows
Markets suffers potato “crisis,” free internet for a month?
The spike in the price of potatoes was the hottest topic on the airwaves last night. But first: You’re may be able to claim one month of free internet from service providers if your connection speed has not been its best lately, if this report from Sabah El Balad is to be believed. The report […]
Posted inSpeed Round
Egypt caps foreign borrowing in FY2018-19 at USD 16.7 bn
** #1 Egypt caps foreign borrowing at USD 16.7 bn this fiscal year: The government has apparently set a foreign borrowing cap of USD 16.733 bn for FY2018-19, according to a government document obtained by Reuters on Thursday. Egypt will have to borrow USD 10.51 bn this fiscal year to meet external debt payments, with […]
Posted inSpeed Round
Egypt could slash cabinet posts, looks to cull civil service
** #2 Madbouly could slash cabinet posts, looks to cull civil service: Prime Minister Moustafa Madbouly is looking to cut the number of posts in his cabinet and is pushing the downsizing of the civil service, the PM said at a gathering of US businessmen organized by our friends at AmCham on Thursday, according to […]
Posted inSpeed Round
Egypt’s finance ministry considers canceling levy on new mobile phone lines for hampering MNO sales
** #3 EXCLUSIVE- FinMin said to mull canceling fees on new mobile phone lines: The Finance Ministry is considering canceling a levy on new mobile phone line purchases that was imposed at the start of the fiscal year in July, a senior government official told Enterprise. He explained that one-time EGP 50 duty on new […]
Posted inSpeed Round
Etisalat Misr reports AED 0.7 bn in revenues for 3Q2018
Regulation, tight competition in saturated market biting telcos? Etisalat Misr reported a 7% decline in subscriber numbers to 31 mn in 3Q2018 ““mainly due to stricter regulatory requirements for subscriber acquisitions through indirect channels and increased competitiveness in the market.” Revenue was up 18% year-on-year at the equivalent of AED 0.7 bn, driven by mobile […]
Posted inSpeed Round
New and “friendlier” Mineral Resources Act to be introduced to Egypt’s House of Representatives in three months
** #4 LEGISLATION WATCH- New and “friendlier” Mineral Resources Act to be introduced to the House in three months: The Madbouly cabinet will present amendments to the Mineral Resources Act to the House of Representatives within three months to make the industry more attractive to investors, Oil Minister Tarek El Molla said on Thursday. “We […]
Posted inSpeed Round
Gov’t signs agreement with banking sector to settle tax disputes
Gov’t signs agreement with banking sector to settle tax disputes: The government signed three agreements with the Federation of Egyptian Banks (FEB) that put to bed outstanding tax and taxation policy disputes going back years, according to AMAY. The first agreement sets out a new compromise framework, which will serve as the basis to settle […]