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LEGISLATION WATCH- Universal Healthcare Act will impose fees on healthcare, pharma sectors: It appears that tobacco isn’t the only sector which is paying into the Universal Healthcare Act. The EGP 600 bn healthcare plan mandates a series of fees on the healthcare sector that range from EGP 10,000 to EGP 500,000 for various licenses and […]
Author Archives: enterpriseam admin
Posted inSpeed Round
LEGISLATION WATCH- Cabinet approves amendments to Unified Building Code, final draft of Social Welfare Act at its weekly meeting
LEGISLATION WATCH- The Ismail Cabinet approved amendments to the Unified Building Code during its weekly meeting yesterday and referred the bill to the Council of State (Maglis Al Dawla) for review, according to an official statement. The amendments focus on facilitating the process of issuing licenses, tightening safety codes, and better enforcement of the legislation. […]
Posted inSpeed Round
SODIC, EKH, Elsewedy, MNHD, Orascom Development, and Oriental Weavers post 3Q2017 results
EARNINGS WATCH- A number of our friends were among those reporting earnings yesterday as the 3Q results season eases to a close. Among those with results out yesterday or overnight: SODIC reported a 54% y-o-y jump in net profit to EGP 166.2 mn in 3Q2017. Revenues increased 10% y-o-y to EGP 584 mn for the […]
Posted inSpeed Round
US Congressional committee passes bill that could sanction Qatar
US Congressional committee passes bill that could sanction Qatar: Qatar got a slap from the US Congress on Wednesday when the House Foreign Affairs Committee passed a bill that would sanction countries which finance terrorism, the Associated Press reports. In an apparent show of support to the Arab Quartet blockading Qatar, the Republican-led committee issued […]
Posted inSpeed Round
Zimbabwe's Mugabe joins ranks of ousted state heads?
Zimbabwe's Mugabe joins ranks of ousted state heads? Zimbabwean President Robert Mugabe became the latest state head to be taken into custody when military forces seized him and his wife in what is being perceived as a potential military coup, the Associated Press reports. The whereabouts of the 93 year-old and his wife are currently […]
Posted inUncategorized
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Posted inImage of the Day
Yamit: the Israeli settlement in the Sinai
The first Israeli settlement from lands captured in 1967 was Yamit in the Sinai, according to an archival piece from The Guardian. The town was set up on the Mediterranean side of the Sinai near Rafah and was thought of at the time as a potential barrier between Egypt and Israel in the case that […]
Posted inEGYPT IN THE NEWS
Sherine banned from performing in Egypt
Egypt, a country renowned for its sense of humor, makes headlines for losing it: Topping coverage of Egypt in the international press is pop singer Sherine Abdel Wahab being banned from performing in Egypt — and possible facing trial. Her crime? A joke she made during a performance of the song “Have You Drunk From […]
Posted inDiplomacy + Foreign Trade
Egypt, Tunisia, and Algeria’s FMs call for breakthrough in Libya’s reconciliation process
Egypt, Tunisia, and Algeria’s foreign ministers stressed yesterday the importance of reaching a breakthrough in the political reconciliation process in Libya as soon as possible, according to a Foreign Ministry statement. The three countries also reaffirmed their support for reaching a political solution to the crisis, and their rejection of any military actions or foreign […]
Posted inEnergy
ADES to form JV with Vantage Drilling to offer deepwater drilling services
LSE-listed oil and gas services firm ADES is forming a joint venture with a subsidiary of Vantage Drilling International to provide deepwater drilling services in Egypt’s Mediterranean basin, World Oil reports. “The JV will operate Vantage’s deepwater drilling units in Egyptian waters on a bareboat charter agreement basis and discussions are underway with regional operators […]