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Egypt is aims to attract as much as USD 11 bn in foreign direct investments in FY2018-19, up from USD 7.9 bn in the previous year, Planning Minister Hala El Saeed said last week, according to Reuters. FDI is expected to reach USD 20 bn by the end of the government’s development plan in 2022, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Sarwa closes EGP 1.75 bn securitized bond issuance
Our friends at Sarwa Capital announced yesterday they had completed a EGP 1.75 bn securitized bond issuance “backed by the portfolios of Contact Auto Credit and its affiliate companies,” according to a company press release (pdf). Sarwa Promoting & Underwriting was the transaction’s lead manager and financial advisor, while Arab African International Bank acted as […]
Posted inSpeed Round
El Sisi ratifies Cyber Crimes Act, Leasing and Factoring Act
El Sisi ratifies cyber crimes, leasing and factoring acts: President Abdel Fattah El Sisi ratified last week the controversial Cyber Crimes Act, Ahram Online reported. The law stipulates that internet service providers hold user data and records of web activity — including voice calls and browsing history — for a period of 180 days, among […]
Posted inSpeed Round
Parliament’s Housing Committee drafts new, pseudonymous real estate tax law
LEGISLATION WATCH- Parliament’s Housing Committee drafts a new real estate tax law: The House of Representatives’ Housing Committee has drafted new legislation on taxing real estate to replace the existing law under an alias: The Returns Act. The legislation would impose taxes on real estate based on size and location and would be applicable to […]
Posted inSpeed Round
John Casson bids farewell to Egypt after four-year term
MOVES- High-profile UK Ambassador to Cairo John Casson is saying goodbye to Egypt after completing his term, according to Al Shorouk. No successor has yet been named, so far as we can tell.
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 tell Egypt Today. The announcement of the shuffle has been postponed multiple times since since June. We love Vietnam, part I: Vietnamese President Tran Dai Quang will be in town tomorrow as […]
Posted inImage of the Day
Birqash camel market under fire for animal abuse
Camel traders at the Birqash camel market on the outskirts of Cairo are under fire for animal abuse, according to VOA News, citing the animals’ “arduous journey” on foot from as far away as Sudan
Posted inEGYPT IN THE NEWS
Egypt prosecution says poison gas leak not behind death of British couple
Topping coverage of Egypt in the foreign press this morning: The death of two British tourists in Hurghada. Egypt’s top prosecutor dismissed yesterday speculation that a “toxic gas leak” was behind the death on Tuesday of a British couple at the Steigenberger Aqua Magic Hotel in Hurghada, according to the Associated Press. “All devices in […]
Posted inEGYPT IN THE NEWS
High demand for housing has propelled unsafe illegal building boom
High demand for affordable housing has propelled an illegal and unsafe building boom, Hamada Elrasam says in a photo essay for VOA News. The explosion of illegal housing is a product of “unmanaged growth and often nonexistent planning,” which has led to the destruction of fertile farmlands along the Nile. “Urban sprawl in Egypt is […]