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LEGISLATION WATCH- Are we one step closer to seeing short term bonds? The Financial Regulatory Authority (FRA) appears to have begun fleshing out legislation that would open the door to issuing short-term bonds, Al Mal reports. Representatives from organizations including EBRD, investment banks and credit ratings agencies attended an FRA workshop on the topic yesterday. […]
Author Archives: enterpriseam admin
Posted inSpeed Round
The Water Act will likely be approved by Parliament in its next legislative session
LEGISLATION WATCH- The House of Representatives will likely pass a new Water Act during its next legislative session, House Agriculture Committee deputy chair Hisham El Hosary tells Youm7. According to El Hosary, the committee plans on finalizing its discussion of the law during the current session, which is expected to come to a close on […]
Posted inSpeed Round
Bahrain sets new rules for Egyptian imports ahead of guava imports resuming
Bahrain sets new regulations before resuming guava imports from Egypt: Egypt must provide Bahrain with a list of guava farms and suppliers, as well as accredited packaging stations, if it hopes to see its guava shipments re-enter the kingdom at the start of the upcoming 2018-19 season. The stipulation is part of a list of […]
Posted inSpeed Round
Elsewedy Electric reports 7% y-o-y drop in net profit in 1Q2018
EARNINGS WATCH- Elsewedy Electric reported a 7% y-o-y drop in net profit after tax and minority interest to EGP 1.4 bn in 1Q2018, down from EGP 1.5 bn in the same period the year before, the company said in its earnings release (pdf). Revenues inched up 2% y-o-y to EGP 9.9 bn, driven largely by […]
Posted inSpeed Round
Clarification on economic model for the Egyptian gold mining industry
CLARIFICATION- Regarding our piece earlier this week on plans for the overhaul of the economic model for mining in Egypt, Wood Mackenzie has been contracted by an affiliate of the Petroleum Ministry to lead on the study, not by players in the industry themselves. Per the State Information Service in March of this year: “Under […]
Posted inUncategorized
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Posted inImage of the Day
Benzema is not training for the World Cup, he’s in Egypt instead
Benzema: Why bother playing the World Cup when you can tan by the Red Sea? Real Madrid’s Karim Benzema left the Red Sea coastal city of Hurghada yesterday after spending two days cruising and snorkeling around iconic touristic sites like Giftun island and Marsa Alam, Egypt Independent says. Red Sea tourism chamber member Ihab Shoukry […]
Posted inEGYPT IN THE NEWS
Cuper prepares plan B in case Salah fails to recover in time
Egypt’s national football team has a plan B in case Mo Salah’s shoulder injury fails to heal in time for the World Cup, coach Hector Cuper said yesterday, according to the Independent. Cuper didn’t name Salah’s backup, saying only that the team “will be ready with another player.” The football star made the final lineup […]
Posted inOn Deadline
Civil servants’ wages are eating up too much of the country’s resources
Civil servants’ wages are eating up far too much of the country’s resources — and allowing them to account for the lion’s share of expenditures in the upcoming fiscal year’s budget suggests that funding development is not a priority for cabinet, Ashraf El Barbary writes for Al Shorouk. The bloated budget for state employees could […]
Posted inWorth watching
We’re on our way to becoming like The Jetsons with this joystick-operated flying car
We’re on our way to becoming like The Jetsons with this joystick-operated flying car: Flying car company Kitty Hawk has rolled out a fully electric flying vehicle, the Flyer, which has just enough space for the driver and can fly for up to 20 minutes, according to CNBC. The vehicle, which is currently available for […]