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Orascom Construction added USD 650 mn worth of new contracts to its backlog in 2Q2018 from Egypt and the US, the company said yesterday in a statement (pdf). New awards from Egypt amounted to USD 415 mn “across important sectors such as transportation, water, and new urban developments including the Alamein cities. A portion of […]
Author Archives: enterpriseam admin
Posted inSpeed Round
GB Lease completes first securitized bond issuance
GB Auto subsidiary GB Lease announced completing its first securitized bond issuance on Monday (pdf). The company will use the proceeds from the EGP 335 mn issuance to “deleverage GB Lease’s balance sheet to improve its liquidity position, create new borrowing limits with lender banks and support the company’s future plans.” The issuance consists of […]
Posted inSpeed Round
The Press and Media Act contains plenty that is unconstitutional
LEGISLATION WATCH- The Press and Media Act contains plenty that is unconstitutional, says Maglis El Dawla: The Council of State (Maglis El Dawla) has delivered a scathing report on the Press and Media Act, calling some of its core articles “unconstitutional” and an “infringement” on “press freedoms enshrined in the constitution,” according to Al Masry […]
Posted inSpeed Round
Is the government reconsidering eligibility for commodity subsidies?
Is the government reconsidering eligibility for commodity subsidies? A ministerial committee, which includes the ministers of supply, finance, and military productions, held a meeting yesterday to discuss conditions for eligibility in the commodity subsidies system, according to Al Mal. While Social Solidarity Minister Ghada Waly framed the meeting as part of the process to update […]
Posted inSpeed Round
Cairo ranked cheapest in Middle East for expats: Mercer report
Cairo is the least expensive city in the Middle East for expats, according to an annual cost of living survey by HR consulting firm Mercer. The nation’s capital was ranked 188 out of 211 global cities ranked on this year’s report, up just one place from last year. Cairo was cheaper than Almaty, but more […]
Posted inSpeed Round
Correction
CORRECTION- We had incorrectly noted that the tax on sales revenues for every company operating in Egypt to fund the Universal Healthcare Act was 0.0025%. The correct value for the tax was 0.25%. The story has since been corrected on our website.
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
The Economist took note of our emergence as a regional energy hub
On a wonderfully slow news day for Egypt in the international press, The Economist takes note of our emergence as a regional energy hub: The Economist had an interesting analysis piece on the economic prospects of Egypt’s plan to emerge as a natural gas export hub globally. “Not long ago it was Israel, not Egypt, […]
Posted inOn Deadline
Top government officials need a communications strategy
Government needs a comms strategy: It’s not often we find ourselves in agreement with the ‘columnists’ in the domestic press, but Emad al-Din Hussein is on point in Al Shorouk with his suggestion that government officials need a proper comms strategy if they want to deliver clear messages and don’t trip over each others’ feet.
Posted inWorth watching
Why Egypt is so good at Squash, according to its star players
Why Egypt is so good at Squash, according to its star players: With ten out of the world’s top 20 squash players being Egyptians, BBC’S Isaac Fanin attempts to answer why is Egypt so good at the game by asking some of the the country’s highest ranked players, including former World No. 2 Ahmed Barada, […]