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The National Investment Bank (NIB) filed a lawsuit against the Egyptian Radio and Television Union (ERTU) in a Cairo Economic Court for the latter to repay a EGP 886 mn loan and additional penalties of 16% of the loan, Al Borsa reports. Complications from this dispute may have played a hand in blocking NIB’s acquisition […]
Author Archives: enterpriseam admin
Posted inOther Business News of Note
Mamish reviews investments with delegation
Suez Canal Economic Zone head Mohab Mamish met with a delegation of representatives from industrial developer Polaris and the African Cotton & Textile Industries Federation on Monday to discuss possible investments in the area, according to Al Borsa.
Posted inLegislation + Policy
House refers Cyber Crimes Act to committees for discussion
The House of Representatives has referred the Cyber Crimes Act to a joint ICT, defense, national security, and constitutional and legislative committee for discussion, deputy head of the House ICT Committee Ahmed Zedan tells Al Mal. The joint committee reportedly began its review of the legislation yesterday, and plans to hearings on cybercrimes soon. The […]
Posted inLegislation + Policy
House Education Committee approves establishing an Egyptian space agency
The House Education, Higher Education, and Scientific Research Committee approved yesterday the bill to establish an Egyptian space agency, Ahram Gate reports. The 16-article law, which the newspaper has published in its latest form, will now be discussed and voted on in a plenary session.
Posted inEgypt Politics + Economics
Labor unions slam Labor Unions Act as unconstitutional
A group of independent labor unions announced their rejection of the Labor Unions Act currently being discussed by parliament, Al Shorouk reports. Speaking at a press conference yesterday, General Coordinator of the Center for Trade Unions Kamal Abbas said the legislation is both unconstitutional and in violation of Egypt’s agreement with the International Labor Organization […]
Posted inON YOUR WAY OUT
On this day: 14 November
ON THIS DAY- On this day in 1954, former President Gamal Abdel Nasser and the Free Officers Movement deposed former President Mohamed Naguib. Former UN Secretary General Boutros Boutros Ghali was born on this day in Cairo, in 1922. Ghali served as UN Secretary General from 1992 to 1996 and was the first Arab and […]
Posted inThe Market Yesterday
EGP / USD CBE market average: Buy 17.5904 | Sell 17.6904 EGP / USD at CIB: Buy 17.56 | Sell 17.66 EGP / USD at NBE: Buy 17.58 | Sell 17.68 EGX30 (Monday): 14,123 (-1.0%) Turnover: EGP 783 mn (20% below the 90-day average) EGX 30 year-to-date: +14.4% THE MARKET ON MONDAY: The EGX30 ended […]
Posted inCALENDAR
14 November (Tuesday): SEMED Business Forum: Investing for Sustainable Growth, Conrad Hotel, Cairo. 16 November (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 19-21 November (Sunday-Tuesday): 11th Annual INJAZ Young Entrepreneurs Competition, Four Seasons Nile Plaza, Cairo. 01 December (Friday): Prophet’s Birthday, national holiday. 01-03 December (Friday-Sunday): RiseUp Summit, Downtown Cairo. […]
Posted inWhat We're Tracking Today
What we’re tracking on 13 November 2017
The House Economic Committee will continue its discussions of the Consumer Protection Act today, Ahram Gate reports. Committee head Amr Ghallab had said earlier this month that the committee would complete its review of the bill within two weeks, after which it would be discussed by the House’s general assembly. Elsewhere in parliament, the Education, […]