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One step closer to launching the Automotive Directive? The Trade and Industry Ministry plans to hold a meeting today with a number of auto companies to discuss an order issued by minister Tarek Kabil last month on local content that is widely considered to be a forerunner to the Automotive Directive, said Tamer El Shafei, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
OCI subsidiary to receive USD 380 mn from EBRD, IFC
OCI subsidiary to receive USD 380 mn from EBRD, IFC: The Egyptian Fertilizers Company (EFC) has signed loan agreements with the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), and several local and international banks worth a combined USD 380 mn and EGP 1.12 bn, parent company Orascom Construction Industries (OCI) announced […]
Posted inSpeed Round
Nine companies, including Orange Egypt, face mandatory delisting by mid-June
Nine companies, including Orange Egypt, face mandatory delisting by mid-June: Nine companies have yet to meet the EGX’s listing requirements on the minimum required number of shareholders, shares, or shares in freefloat, according to a statement from the EGX (pdf). Three of these companies — El Shams Pyramids for Hotels and Touristic Projects, Nile City […]
Posted inSpeed Round
Is cabinet getting serious about import substitution?
Early sign that Cabinet is getting serious about import substitution? The government has ordered a study of the total import of goods and services over the last three years, Prime Minister Sherif Ismail told representatives of a number of business and investor associations. The study will help the government set policy priorities for which goods […]
Posted inSpeed Round
Railway ticket prices to rise by 30-45% after Ramadan?
Railway ticket prices to rise 30-45% after Ramadan? The Ismail Cabinet is reportedly days away from signing off on a decision to hike railway ticket prices by 30-45%, Al Mal reports. The hike, which will be implemented on VIP and first- and second-class tickets, would come into effect immediately after the end of Ramadan (around […]
Posted inSpeed Round
Finance Ministry working on law to ease transition to cashless economy
LEGISLATION WATCH- Finance Ministry working on law to ease transition to cashless economy: The Finance Ministry and central bank are working together to draft legislation to help ease the the state with its goal to transition to a cashless economy, government sources reportedly said yesterday. The law, which could go into effect during FY2018-19, would […]
Posted inSpeed Round
Credit Agricole reports 1Q2018 results
EARNINGS WATCH- Credit Agricole Egypt reported a jump in net profit to EGP 601 mn in 1Q2018, up from EGP 467 mn in the same period last year, according to a regulatory filing.
Posted inUncategorized
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Posted inImage of the Day
Youssef Chahine’s films to be restored for anniversary of his death
Misr International Films is restoring 20 films by co-founder and world-renowned Egyptian director Youssef Chahine to mark the 10th anniversary of his passing, Screen Daily reports. Beginning with his first film Baba Amin (1950), MIF will enhance, digitize and add subtitles to all of Chahine’s works to ensure they reach as wide an audience as […]
Posted inEGYPT IN THE NEWS
Hamas delegation in Egypt for talks on containing Gaza’s anti-Israel protests, says the AP
The Palestinian conflict topped coverage of Egypt in an otherwise slow news day for Egypt in the foreign press. Newswires, including the Associated Press, are noting a visit by Hamas leader Ismail Haniyeh and other top officials from the group to Cairo yesterdayto discuss ways of keeping a massive anti-Israel rally today from getting out […]