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Egypt’s columnists were preoccupied over the weekend with the anniversary of 30 June — and had not one unique or interesting insight to offer.
Author Archives: enterpriseam admin
Posted inWorth watching
The Economist makes its case for wealth taxes
The Economist makes its case for wealth taxes: Wealth taxes have the fewest “unintentional bad consequences” and could be the solution to raising the funds governments need to support public services, such as schools, roads, and hospitals, the Economist says. Whereas income and consumption taxes have been widely popular tools over the past several decades, […]
Posted inDiplomacy + Foreign Trade
Japan eases travel advisory for Egypt
Egypt, Sudan and Ethiopia will launch their joint development fund this week, Sudan’s Minister of State Osama Faisal said at a press conference following an Arab Parliament session in Cairo, Ahram Online reports. The three countries had agreed in January to set up a joint investment fund between their three countries to finance infrastructure projects […]
Posted inEnergy
Construction on Dabaa to begin in next two years
Construction on the Dabaa nuclear power plant is expected to begin in the next two and a half years, an Electricity Ministry spokesman tells Reuters. He adds that the first 4800 MW nuclear generator is projected to be up and running by 2026. The government had compiled in April a list of 100 Egyptian companies […]
Posted inCONSTRUCTION + INFRASTRUCTURE
OC announces 25 July 2018 as record date for dividend
Orascom Construction has announced 25 July 2018 as its record date for an approved dividend of USD 30 mn; payment will take place during the week of 30 July 2018, the company said yesterday in a statement (pdf). Holders of EGX-listed shares will receive payment in EGP, while those holding shares on Nasdaq Dubai will […]
Posted inCONSTRUCTION + INFRASTRUCTURE
Veolia to construct water, wastewater treatment systems at Assiut
Veolia Water Technologies has won a contract from Egyptian Electricity Holding Company to construct and set up water and wastewater treatment plants for the Assiut power plant and the Cairo West power plant, according to a press release.
Posted inManufacturing
Assar meets with Lava, Smart to build local mobile phone factory
Military Production Minister Mohamed El Assar met on Saturday with representatives from Indian smartphone manufacturer Lava and Egyptian Smart company to discuss cooperation in locally manufacturing mobile phones, according to Al Mal. Lava Mobiles is looking to establish a mobile phone factory in 2019, and plans to invest USD 10 mn this year, Senior Vice […]
Posted inHealth + Education
FEI pharma division plans to officially petition Health Ministry to raise med prices
Members of the Federation of Egyptian Industries’ pharma division agreed last week to present a formal petition to Health Minister Hala Zayed this week to raise med prices, division member Gamal El Leithy said. According to El Leithy, the most recent increase in fuel prices and electricity tariffs, along with a global rise in the […]
Posted inAutomotive + Transportation
Transport Ministry signs EGP 544 mn agreement with AOI for 140 locomotives
The Transport Ministry signed on Thursday a EGP 544 mn agreement with the Arab Organization for Industry’s (AOI) railways factory SEMAF to manufacture and supply 140 locomotives for cargo trains, according to a Cabinet statement. The locomotives are expected to be delivered within 16 months. The agreement comes as the first phase of the ministry’s […]
Posted inEgypt Politics + Economics
Tax Authority settles EGP 16 bn in tax disputes under Tax Dispute Resolution Act
The Tax Authority has settled EGP 16 bn-worth of disputes since the Tax Dispute resolution Act was passed in 2016, deputy head Mohamed Abdel Sattar said on Thursday, Al Masry Al Youm reports. Abdel Sattar also confirmed what we heard last week, that the Finance Ministry was considering amendments to the Tax Dispute Act that […]