Author Archives: enterpriseam admin

IPO WATCH- Carbon Holdings eyes dual listing by end of 1H2019: Carbon Holdings is looking to raise as much as USD 250 mn from a dual listing on the EGX and London Stock Exchange by the end of 1H2019, our friend Managing Director of Corporate Finance and Investor Relations Karim Helal tells Al Masry Al […]

IPO WATCH- Rooya Holding Investments is working on completing the regulatory requirements to move ahead with its planned IPO on the EGX, parent company Pioneers Holding said in a statement to the EGX yesterday (pdf). Reports had emerged last July that Rooya had filed to list 30% of its shares on the bourse. Pioneers CEO […]

EXCLUSIVE- FRA looking to marginally lower regulatory fees on stock market trades as stamp tax increases next fiscal year: A Financial Regulatory Authority (FRA) committee has approved in principle lowering fees on stock market transactions, sources from the committee told Enterprise. The FRA’s consultative committee, which helps set policy for FRA, wants to lower fees […]

EXCLUSIVE- Has the Finance Ministry further simplified its plan to bring SMEs into the ranks of taxpayers? Speaking of inclusion, the Finance Ministry may be modifying previously outlined plans to offer SMEs of a certain size full or partial tax exemptions to enter the formal economy as part of the SME Act. Instead, the ministry […]

LEGISLATION WATCH- Banking Act will expand the CBE’s oversight of bank management, boards: The Banking Act will grant the central bank greater oversight of the banking sector and boards,CBE Governor Tarek Amer announced yesterday, according to Al Mal. The law will establishes new procedures that expand the CBE’s oversight of bank management, said Amer, without […]

LEGISLATION WATCH- Final House vote on Ride-Hailing Apps Act postponed amid backlash against data-sharing clauses: The Ride-Hailing Apps Act failed to breeze through a final vote in the House of Representatives yesterday, drawing heavy criticism for some of its most controversial clauses, which appear to not have been amended at all. Articles 9 and 10 […]

The Finance Ministry is working on a medium-term plan to trim Egypt’s public debt to 80% of GDP by 2020, down from 107-108% during FY2016-17, Finance Minister Amr El Garhy said yesterday, according to a ministry statement. Speaking during the second day of the IMF and Central Bank of Egypt’s “Inclusive Growth and Job Creation” […]

LEGISLATION WATCH- Is the House looking to bring about a two-party system? It indeed was a busy day at the House of Representatives, which also looked at amendments the House of Representatives Act, which govern election guidelines and coalition and party formations. Very little in the way of detail is out on the amendments themselves, […]

LEGISLATION WATCH- Amendments to State Lawsuits Authority Act could impact int’l arbitration cases: The Justice Ministry is currently drafting amendments to the State Lawsuits Authority Act, which would help “improve procedures to reach quick resolutions on Egypt’s international and domestic cases,” sources said. They did not provide details on the legislation save that these would […]

BUDGET WATCH- House Budget Committee wants more spending on health and education in the budget: The House of Representatives’ Budget Committee plans to make an official request to the government to raise its allocation for health and education in the FY2018-19 budget, the committee’s deputy chair Yasser Omar said. The government has yet to inform […]