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Who will manage the Grand Egyptian Museum? Egypt will announce on Sunday the details of the prequalification stage of the tender for the management of the Grand Egyptian Museum (GEM), according to the Investment Ministry (pdf). Antiquities Minister Khaled Anany said a couple of months back that the ministry expects to drum up significant interest. […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Last Night’s Talk Shows on 5 June 2018
They’re still on hiatus. We’ll be back right after Eid.
Posted inSpeed Round
House signs off on raises for civil servants, increased spending on pensions, bump in income tax exemption ahead of expected subsidy phase-out
The House of Representatives has started signing off on a basket of measures that will see bns in new spending flow to public servants, low income earners and the poor as part of a drive to shore up the social safety net ahead of the new fiscal year. The next budget will include subsidy cuts […]
Posted inSpeed Round
House expected to pass the FY2018-19 budget today, FinMin holds fast on oil price projections as global rally looks set to cool
BUDGET WATCH- Will parliament pass the FY2018-19 budget today ? The House of Representatives is expected to pass the FY2018-19 budget today (uncharacteristically early) after the general assembly wrapped up yesterday its discussion of the Budget Committee’s report, according to Ahram Gate. Health and education both received additional earmarks to fund initiatives including the new […]
Posted inSpeed Round
Draft social welfare act with Finance Ministry for review
LEGISLATION WATCH- Draft social welfare act with Finance Ministry for review. A draft of a new proposed Social Welfare Act is now with the Finance Ministry for review, Social Solidarity Minister Ghada Wali said yesterday. The law would amend the social welfare and pensions systems, guarantee the right to unemployment benefits, and establish a new […]
Posted inSpeed Round
Net FX reserves grow to USD 44.14 bn in May
Net foreign currency reserves were broadly stable at USD 44.14 bn in May compared with USD 44.03 bn in April, the central bank announced yesterday. Reserves, which began to climb after Egypt signed a USD 12 bn extended fund facility with the IMF, are at their highest level ever.
Posted inSpeed Round
Aton moves one step closer to obtaining exploitation license on Hamama West concession
Canada’s Aton Resources has moved one step closer to obtaining an exploitation license on its Hamama West gold concession, the company announced in a press release. The Toronto Stock Exchange-listed firm submitted a study by Wardell Armstrong International on the concession to the Egyptian Mineral Resources Authority, a crucial step in its application to obtain […]
Posted inSpeed Round
MNHD seeks EGP 1 bn loan from CIB to fund Taj City infrastructure development
MNHD seeks EGP 1 bn loan from CIB to fund Taj City infrastructure development: Madinet Nasr Housing and Development (MNHD) will be seeking a EGP 1 bn medium-term loan from CIB to fund the development of a T-Zone and infrastructure at its Taj City project. The company’s board of directors signed off on the facility […]
Posted inSpeed Round
Misr Insurance to seek investment bank to lead restructuring of its portfolio
Misr Insurance Holding told to seek professional help with portfolio restructuring: Public Enterprises Minister Khaled Badawy wants Misr Insurance Holding to seek some professional help, ordering it to seek an investment bank or asset manager to help it restructure its investment portfolio. Badawy also reportedly urged the company to expand the scope of its investments […]
Posted inSpeed Round
Kabil to inaugurate threeUnionaire Group factories with Saudi-Egyptian investments worth USD 100 mn
INVESTMENT WATCH- Trade Minister to inaugurate three new Unionaire factories in three weeks: Trade and Industry Minister Tarek Kabil is expected within the coming weeks to inaugurate three new Unionaire Group factories worth a collective USD 100 mn, according to a ministry statement. The factories in Six October City — which will produce an annual […]