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The National Authority for Tunnels (NAT) is expected to begin issuing tenders for the Cairo Metro’s Line 4 in two weeks’ time, NAT Spokesperson Hassan Tawfik said, Al Borsa reports. These will include tenders to supply 23 locomotives, carrying out electromechanical works, and setting up the communication system for the line. The NAT plans to […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
UK’s LOC inaugurates new Cairo office
British marine and engineering consultancy firm LOC Group inaugurated last week its new office in Cairo to give the company better access to MENA countries, according to a British embassy statement. “Longer term, LOC plans to develop the Cairo office into a larger multi-function office providing marine warranty surveying, marine surveying, marine casualty response and […]
Posted inLegislation + Policy
MP presents draft law to regulate e-commerce
House Industry Committee member Ali El Kayal presented a draft law to the House of Representatives that means to regulate Egypt’s e-commerce industry, Ahram Gate reports. The bill is focused mainly on implementing a taxation framework for e-commerce businesses, which could add significantly to the government’s tax income. The legislation also includes clauses to protect […]
Posted inLegislation + Policy
Justice Ministry to send amendments to Economic Courts Law to Cabinet “within days”
The Justice Ministry will send the amendments to the Economic Courts Law to Cabinet for approval “within days,” unnamed judicial sources tell Al Borsa. The ministry had sent the bill last week to the head of the Economic Court for a final round of discussion. The amendments seek to expedite the dispute resolution process.
Posted inON YOUR WAY OUT
Jordan Belfort claims fraud in Cairo event
The original “Wolf of Wall Street,” Jordan Belfort, says an Egypt event he was supposed to speak at this month is a fraud in a statement on Facebook. He added that the organizer of the event, which was called ‘Rise of the Entrepreneurs,’ has disappeared without paying him his retainer or booking his tickets. The […]
Posted inON YOUR WAY OUT
Sha’bolla is back, and he’s out for Trump
The Donald has awakened Sha’bolla from his slumber: After a rather long absence, the living, wheezing embodiment of sha’bi music that is Shaaban Abdel Rahim has returned with a scathing attack on US President Donald Trump. The man who brought us such classics as Habatal El Sagayer (I will quit cigarettes) and “I hate Israel, […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.7591 | Sell 17.8579 EGP / USD at CIB: Buy 17.75 | Sell 17.85 EGP / USD at NBE: Buy 17.69 | Sell 17.79 EGX30 (Sunday): 14,414 (+0.8%) Turnover: EGP 735 mn (29% below the 90-day average) EGX 30 year-to-date: +16.8% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
15 December (Friday): The Law Magazine’s Law Talks event, Zamalek palace, Cairo. 19 December (Tuesday): Village Capital’s Financial Health Competition: Middle East and Egypt (applications close 3 November) 28 December (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 29-30 January (Monday-Tuesday): Seamless North Africa, The Nile Ritz-Carlton, Cairo 12-14 February 2018 […]
Posted inWhat We're Tracking Today
What we’re tracking on 10 December 2017
It’s looking like Dabaa is finally happening this week: Russian President Vladimir Putin will arrive in Egypt on Monday, according to a Thursday statement from the Kremlin. While the statement is vague on what he’s due to discuss with President Abdel Fattah El Sisi, it seems almost certain that the signing of the USD 30 […]