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LEGISLATION WATCH- A draft law on small and medium-sized businesses is due to the Ismail cabinet in two weeks’ time, a trade and industry ministry official tells Al Masry Al Youm. The bill, which means to offer tax and non-tax incentives that would encourage SMEs to join the formal economy, will not be granting any […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Cabinet approves USD 7 bn Russian Industrial Zone agreement, Unified Building Code amendments
CABINET WATCH- The Ismail Cabinet signed off yesterday on the preliminary agreement to set up the USD 7 bn Russian Industrial Zone (RIZ) in the Suez Canal Economic Zone, according to a statement. Russia’s Industry and Trade Ministry spokesperson had said last month that Egypt and Russia are expected to sign the final contracts establishing […]
Posted inSpeed Round
All conditions met to export gas from Leviathan to Jordan, partners say
The partners in Israel’s natural gas field Leviathan announced that all conditions have been met to allow the supply of gas to Jordan’s electric company, Reuters reports. “They said the capacity of the pipeline that will connect to Jordan via a direct pipeline and one that runs via Egypt would allow the flow of up […]
Posted inSpeed Round
Egyptera plans to settle on waste-to-energy feed-in tariff next week
Egyptera to settle on waste-to-energy feed-in tariff next week: The Egyptian Electricity Utility and Consumer Protection Agency (better known as Egyptera) is expected to settle on the feed-in tariff for waste-to-energy projects next week, sources at the agency tell Al Borsa. The newspaper claims the Electricity Ministry is planning to set a FiT rate of […]
Posted inSpeed Round
Egypt receives third and final USD 1 bn tranche of World Bank’s USD 3.15 bn development loan
Egypt received the third and final USD 1 bn tranche of the World Bank’s USD 3.15 bn development loan, Investment and International Cooperation Minister Sahar Nasr announced yesterday Reuters reports. The bank’s executive board had approved the disbursal of the final tranche in December. Top state officials had said at the time that the tranche […]
Posted inSpeed Round
Egypt one of four countries to see people worth more than USD 50 mn fall in 2017
Egypt was one of four countries that saw the number of people with a net worth of over USD 50 mn fall y-o-y in 2017, according to real estate firm Knight Frank. Egypt joins the UK, Nigeria, and Turkey, who all saw a drop despite a global increase of 10% y-o-y, Bloomberg Gadfly reports.
Posted inSpeed Round
Bankruptcy Act refresher from Sharkawy & Sarhan
Need a refresher on the Bankruptcy Act? Our friends at Sharkawy & Sarhan have put together a handy primer on the recently enacted legislation, which effectively decriminalizes bankruptcy, creating a “win-win situation for all the related parties in the bankruptcy process.”
Posted inUncategorized
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Posted inSPOTLIGHT: EFG HERMES ONE ON ONE 2018 IN DUBAI
What to expect on the frontier in 2018
Sentiment among international investors toward Egypt and frontier markets was strikingly positive at this year’s EFG Hermes One on One. A striking number of Egyptian companies, in particular, having meeting schedules dominated by group meetings rather than the titular one-on-ones. To set things in perspective, we had chats with our friends Mohamed Ebeid, Co-CEO of […]
Posted inEGYPT IN THE NEWS
Egypt has “pervasive climate of intimidation,” UN Rights chief says
There is a “pervasive climate of intimidation” in Egypt ahead of presidential elections that has been marked by arrests, torture of detainees and “silencing” of independent media, UN Human Rights Council chief Zeid Ra’ad Al Hussein decried. “Potential candidates have allegedly been pressured to withdraw, some through arrests. Legislation prevents candidates and supporters from organizing […]