Author Archives: enterpriseam admin

LEGISLATION WATCH- Parliament’s general assembly gave its final approval yesterday to the Cyber Crimes Act, Al Mal reports. The law requires prosecutors to obtain a court order to ban websites that publish any content deemed criminal or posing a threat to the country’s national and economic security. If the threat is deemed imminent, the prosecution […]

Someday, somehow, EGX trades could be subject to the capital gains tax: The Tax Authority is mulling the formation of a committee to look into how it could impost the long-deferred capital gains tax on stock market transactions, a government source tells Enterprise. The source noted that there is no rush afoot to implement the […]

REGULATION WATCH- Factory owners get a small break with amendments to regulations under the Industrial Registry Act: Trade and Industry Minister Tarek Kabil issued amendments yesterday to the executive regulations for the Industrial Registry Act, bringing them up to speed with the Industrial Permits Act, according to a ministry statement. The amendments make it mandatory […]

Lebanon’s EuroMena taps Lazard to advise on exit from two Egyptian businesses: Lebanon’s EuroMena Funds has tapped global advisory firm Lazard for counsel on the exit of its EuroMena I Fund from two of its Egyptian holdings, EuroMena Investment Director Aly Mahmoudy tells Al Mal. The private equity firm is hoping to sell the Fund’s […]

EXCLUSIVE- Heliopolis Housing & Development in the market for a EGP 1 bn loan: Heliopolis Housing & Development (HDD), a candidate for the state IPO program, is in talks with a local bank for a EGP 1 bn facility to fund its New Heliopolis project, a company official told Enterprise. The talks are in “later […]

Government decides to import rice, suggesting further cuts in local cultivation are coming: The government decided yesterday to import “the necessary quantities” of rice to increase its availability and “control the market,” according to a Cabinet statement. The imported rice will be required to meet the same quality standards as Egyptian rice. No details were […]

MOVES- The Mansour-Scope alliance appointed Khaled Youssef as the CEO of Peugeot Egypt, Daily News Egypt reports. Youssef, who will take up the new position as of 1 July, joins Peugeot Egypt from the Egyptian International Motors Company, the distributor of Kia and Renault in Egypt.

UK’s Savills acquires Cluttons, Egypt on the map for regional expansion plans: UK real estate advisory firm Savills announced yesterday that it acquired Middle East-based consultants Cluttons late last month, Gulf Business reports. Savills intends to retain all Cluttons staff members as it rebrands the company later this year as Savills Middle East, its first […]