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LEGISLATION WATCH- The Ride-Hailing Apps Act has received preliminary approvals from a number of committees in the House of Representatives on Thursday, according to a statement from the Investment Ministry. The House’s economics, transport, ICT, defense and national security committees all gave their initial sign off to the act, said Investment Minister Sahar Nasr. The […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Price control coming to cargo transport?
LEGISLATION WATCH- Price control coming to cargo transport? In other news from the transportation sector, MPs are said to be mulling legislation that could regulate pricing for the transport of cargo from ports to points inland, which House Economics Committee member Amr El Gohary tells Al Mal could both help business control costs and create […]
Posted inSpeed Round
Cyber Crimes Act is not meant to monitor, block social media -House ICT Committee
LEGISLATION WATCH- The Cyber Crimes Act is not intended to allow the government to monitor or block social media platforms such as Facebook and Twitter, House ICT Committee secretary Ahmed Zidan said yesterday, according to Ahram Gate. The proposed bill is meant to regulate information technology and create a framework for dealing with cybercrimes, such […]
Posted inSpeed Round
Cabinet approves establishment of Nuweiba freezone
CABINET WATCH- The Ismail Cabinet approved yesterday the establishment of a freezone in Nuweiba and will offer investment incentives there including 50% tax cuts for three years. The 1 mn sqm zone is expected to see as much as USD 40 mn in infrastructure-related investment, South Sinai Governor Khaled Fouda said yesterday. The freezone is […]
Posted inSpeed Round
Egypt is going to have electric cars soon
Egypt is going to have electric cars soon: The first batch of Tesla electric cars are expected to hit Egypt’s market by mid-April, Revolta Egypt CEO Mohamed Badawy said, Al Mal reports. The shipment has reportedly been stalled at customs, according to Badawy. Revolta is importing the Tesla cars as part of its plan to […]
Posted inSpeed Round
ODE reports net profit of EGP 392 mn in FY2017
EARNINGS WATCH- Orascom Development Egypt reported a net profit of EGP 392 mn in FY2017, up from a loss of EGP 499.5 mn in FY2016, the company announced on Thursday (pdf). Consolidates revenues grew 78.8% to EGP 2.6 bn on the back of growth in the company’s hotel business. Separately, ODE CEO Khaled Bishara announced […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
Preliminary results of elections trend topics in the foreign press
Coverage of preliminary results from the presidential election leads coverage of Egypt this morning in the international press, with everyone from Bloomberg and the Financial Times to Reuters and the Associated Press noting the results. For the most part, they heavily stressed their views on Moussa Moustafa Moussa as a dummy candidate. The coverage was […]
Posted inEGYPT IN THE NEWS
Oldest known cancer cases found in Egyptian mummies
The world's oldest known cases of breast cancer and multiple myeloma have been discovered in the remains of mummies in an ancient Egyptian necropolis in Aswan, Jim Drury reports for Reuters. A 3,800-year old male mummy was found to have multiple myeloma, which is a type of bone marrow cancer, and breast cancer was found […]
Posted inWorth watching
Severe sandstorm hits New Valley
A severe sandstorm that struck several parts of Egypt over the weekend prompted a state of emergency in the New Valley, according to the Washington Post. Images and videos, like the one above (watch, runtime: 1:10), emerged of the massive sheets of sand engulfing the landscape during one of the worst sandstorms Egypt has seen […]