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FRA to cut regulatory fees on stock market trades to offset increased stamp tax: The Financial Regulatory Authority (FRA) has approved a small cut to fees on stock market transaction for brokerage houses and custodians, Al Mal reports. The change will reduce fees brokerage firms pay to 0.01% of the transaction value, down from 0.02%, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
CIRA reportedly taps Grant & Thornton to conduct fair value assessment ahead of stake sale
IPO WATCH- CIRA reportedly taps Grant & Thornton to conduct fair value assessment ahead of stake sale: Leading private-sector education outfit Cairo Investment and Real Estate Development (CIRA) has reportedly selected Grant & Thornton to conduct a fair value report for CIRA’s planned relisting on the EGX, Al Mal reports. The firm’s general assembly had […]
Posted inSpeed Round
Egypt, South Korea sign EUR 243 mn contract to manufacture, supply metro cars
Egypt, South Korea sign EUR 243 mn contract to manufacture and supply metro cars: Investment and International Cooperation Minister Sahar Nasr signed yesterday a EUR 243 mn with South Korea’s Ambassador to Egypt Yoon Yeocheol to manufacture and supply 32 metro cars, according to an Investment Ministry statement (pdf). The release doesn’t name the winning […]
Posted inSpeed Round
Moselhy reshuffles CPA’s board of directors
MOVES- Moselhy reshuffles CPA’s board of directors: The Consumer Protection Authority has new faces on its board of directors. Supply Minister Ali El Moselhy appointed Council of State Deputy Chairman Essam Abdel Aziz, Federation of Egyptian Industries member Mohamed Gamaleldin Hassan, and Federation of Egyptian Chambers of Commerce member Mohammed Fayoumi, Al Shorouk reports. The […]
Posted inSpeed Round
Sahar Damaty joins Union Capital to manage idle factory bailout fund
MOVES- Former Banque Misr Deputy Chair Sahar Damaty was tapped to join Union Capital to manage its EGP 150 mn bailout fund for idle small- and mid-sized factories.
Posted inSpeed Round
Uber to begin implementing longer-term sustainability plans soon -CEO
Uber looking at scooters and e-bikes for short hops: Uber is getting ready to replace cars in its service with scooters and electric bicycles for shorter journeys, CEO Dara Khosrowshahi tells the Financial Times in an interview. The move, which is part of the ride-hailing company’s long-term strategy, will hurt profits in the short-term as […]
Posted inSpeed Round
Gunman kills four at video game tournament in Florida
In other international news making the rounds this morning: Emmerson Mnangagwa was inaugurated as Zimbabwe's new president after a court rejected claims the election was rigged, according to AFP. It is the second time in nine months the country has sworn in a president following the ouster of Robert Mugabe. Four people are confirmed dead […]
Posted inUncategorized
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Posted inUp Next
What we’re tracking this week and beyond
As many as 16 of the nation’s 27 governors will be replaced in a shuffle expected to take place this week, unnamed sources told Egypt Today. The announcement of the shuffle has been postponed multiple times since since June. El Sisi in China next month: The president is expected to visit Beijing next month, at […]
Posted inImage of the Day
Egyptian barman helped the British defeat the Nazis — with a cocktail
Egyptian barman helped the British defeat the Nazis — with a cocktail. Developed by Shepheard’s Hotel barman Joe Scialom, the Suffering Bastard cocktail was an unexpected reason behind German general Erwin Rommel’s defeat in the Second Battle of Alamein in the 1940s, writes Blake Stilwell in a piece for We Are The Mighty. The drink […]