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LEGISLATION WATCH- The State Council (Maglis El Dawla) has completed its review of proposed amendments to the Customs Act and shipped it back to the Ismail Cabinet on Monday, according to judiciary sources. The draft law, which had received the Ismail Cabinet’s sign off in February, is expected to slash custom duties on capital goods […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt to hold first local elections after 10-year hiatus
Egypt will hold its first local and municipal elections in 10 years in 1H2019, House of Representatives spokesperson Salah Hassaballah told reporters on Wednesday, according to Reuters. The polls will be held “after the local administrative draft law is passed by parliament” during the current legislative period, he added. Municipal elections were last held in […]
Posted inSpeed Round
Egypt, Sudan, Ethiopia kick off GERD talks in Khartoum amid mixed expectations over outcomes
Egypt, Sudan, Ethiopia kick off GERD talks in Khartoum: Foreign Minister Sameh Shoukry, Irrigation Minister Mohamed Abdel Aty, and General Intelligence chief Abbas Kamel arrived in Khartoum yesterday to begin tripartite talks with Sudan and Ethiopia over the Grand Ethiopian Renaissance Dam (GERD), according to the Foreign Ministry. Negotiations on the dam had reached a […]
Posted inSpeed Round
Saudi Arabia officially lifts ban on Egyptian strawberries, peppers
Saudi Arabia has decided to lift a blanket ban on imports of Egyptian peppers and strawberries, the kingdom’s Environment, Water, and Agriculture Ministry announced yesterday, the Saudi Press Agency reports. The ban was put into effect nine months ago, after Saudi authority said shipments of both products contained unsafe levels of residual pesticides. “The lifting […]
Posted inSpeed Round
Kuwait just made remittances more expensive
Kuwait just made remittances more expensive: The Kuwaiti parliament’s financial and economic affairs committee has approved a bill imposing fees on expats’ outgoing remittances,MP Salah Korshed said in a statement carried by the Kuwait News Agency (KUNA). Two-thirds of MPs voted in favor of the bill. Expats will be taxed 1% for salaries of USD […]
Posted inSpeed Round
Correction
CORRECTION- We had picked up a story from Al Shoroukon Monday, naming CIB as part of a banking consortium providing a EGP 1.5 bn syndicated loan. We have been since informed that CIB is not involved in the transaction. The story has been corrected on our website.
Posted inSpeed Round
** SMART PEOPLE WANTED. We’re hiring at both Enterprise and at our parent company, Inktank. We’re looking for critical thinkers who have outstanding English-language writing skills. Don’t apply if you are not (at an absolute minimum) unafraid of numbers. Among the many posts we have open right now: Senior investor relations advisors at Inktank, who […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Pace of transactions in Middle East and Africa seen advancing in 2018
Middle Eastern and African markets are expected to see an increased pace of transactions as we wade deeper into 2018 and after a strong first quarter that saw a higher volume of mergers, initial public offerings, and bond sales, than 1Q2017. “Globally, economic growth and relatively cheap funding have encouraged firms to buy rivals. In […]
Posted inImage of the Day
Egyptian artist pays tribute to singing legend Umm Kulthum
An exhibition by artist Mustafa Rahma at Picasso Art Gallery in Zamalek is paying tribute to legendary Egyptian singer Umm Kulthum. Rahma’s stunning works in "Gomhour El Set" art show lament “a period that will never come back again,” expressing nostalgia for “the period when you could rarely find women wearing the hijab or niqab, […]