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Industry rejoices as Parliament looks to reprice gas, cut real estate taxes for factories: The House of Representatives’ Industry Committee is reportedly looking into reviewing gas prices for industries and canceling real estate taxes imposed on factories, following requests and complaints from industry figures, Al Shorouk reports. Egypt’s manufacturing sector has been pushing for years […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt’s banks begin freezing loans to Saudi companies caught up in purge
So much for the Saudi purge not impacting business in Egypt: Egypt’s banks have reportedly begun freezing transactions on accounts held by Saudi Arabian princes and officials arrested as part of an anti-corruption probe launched by Saudi Crown Prince Mohammed Bin Salman. As it stands, banks have frozen EGP 2.5 bn in loans for projects […]
Posted inSpeed Round
Lebanon’s PM gives awkward interview from Riyadh
Meanwhile, former (and to some still the incumbent) Prime Minister of Lebanon Saad Al Hariri declared that he was not being held in KSA against his will in a televised interview with Lebanon’s Al Mustaqbal TV (watch, runtime: 1:14:33, and pause at 48:10 for an awkward side-glance at an off-camera presence). He reopened the possibility […]
Posted inSpeed Round
GE at risk of being removed from the DJI
Mainstay General Electric is in danger of being booted from the Dow Jones Industrial Average as its share price continues to drop, according to Reuters. The company’s fate on the elite index could also be shaped by reductions to the company’s size as it sells off pieces of its business. GE’s removal from the Dow […]
Posted inUncategorized
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Posted inSpotlight
Meet the man who would break up Credit Suisse — and the Mideast angle that will see him in Cairo in early 2018
The Swiss group RBR Capital Advisors is making global headlines with a bid to break up multinational financial services conglomerate Credit Suisse, which RBR says has been on a persistent downtrend for almost a decade — and where CEO Tidjane Thiam has made slow progress with a turnaround bid that sees Credit Suisse’s share price […]
Posted inImage of the Day
Fred Boissonnas’ photographs were “a calling card” for a newly independent Egypt -1843
Swiss photographer Fred Boissonnas was tasked with commissioning a book of photographs of Egypt by King Fuad I in 1929, after the end of the British protectorate, Fleur MacDonald writes for 1843. The aim was “to show the country in its best light and remind people that British rule was merely a blip in thousands […]
Posted inEGYPT IN THE NEWS
Egypt is “systematically failing” at containing its terrorist insurgency
It was an extremely slow news night for Egypt in the foreign press this morning with no particular topic leading the conversation. The continued imposition of a state of emergency may hamper Egypt’s economic recovery, particularly as the measure’s effectiveness in thwarting terrorist attacks “is in question,” Frontera’s Friederike Andres says. Egypt has “systematically failed […]
Posted inOn Deadline
“Year of Women” hasn’t done much to resolve women’s real issues
Women haven’t reaped many benefits from Egypt’s “Year of Women," Sabry Ghoneim pointedly says in a column penned for Al Masry Al Youm. The government has focused on some “obvious” areas such as giving women more seats in parliament and access to certain official positions, which are important, but do not address the deep-rooted issues […]
Posted inWorth watching
Egyptian Motorcyclist breaks world record
Egypt’s Ali Abdo has broken the Guinness world record for the longest distance covered by a rider on a motocross bike in one day. Abdo lapped the track in El Gouna on his Honda Tornado a total of 510 times to cover a distance of 613.6 km. This isn’t the first time the motorcycle aficionado […]