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LEGISLATION WATCH- The House Economic Committee signed off yesterday on the proposed text of Article 30 of the Consumer Protection Act following “heated debate,” Al Shorouk reports. The proposal would require vendors to print a receipt for consumers who pay for purchased goods in installments, clearly indicating the price of the goods, the interest rate […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Cabinet approves extending Tax Dispute Resolution Act for two additional years
The Ismail Cabinet agreed yesterday to extend the Tax Dispute Resolution Act’s mandate for an additional two years, according to a statement. The law, which had passed the House in September 2016, removed tax dispute cases from the courts and handed them over to newly-established committees to seek amicable settlements. Its mandate had originally been […]
Posted inSpeed Round
EFSA planning changes to regs on treasury shares, mortgage finance
EFSA planning changes to regs on treasury shares, mortgage finance: The Egyptian Financial Supervisory Authority (EFSA) is apparently still planning on making further changes to EGX regulations, this time with treasury stocks. EFSA is reportedly considering obliging shareholders who have acquired a stake north of 33% in a company through buybacks and eliminations of treasury […]
Posted inSpeed Round
Net oil importers expected to see growth rise to 4.3% in 2017
Net oil importers in the MENA region, including Egypt, can expect to see their growth rise to 4.3% this year from 3.6% in 2016, the IMF said in its Regional Economic Outlook October 2017 report. The upswing is expected to persist in 2018, supported by increasing domestic demand, supportive reforms, and the global uptick in […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Have we reached peak emerging market debt?
Have we reached peak emerging market debt? Emerging market debt is starting to fall as a proportion of economic output for the first time since 2011, potentially helping assuage some of the concerns over ballooning borrowing, writes Steven Johnson for the Financial Times. Total EM debt (including that of governments, nonfinancial companies and households) is […]
Posted inImage of the Day
“Cursed” tomb opened after 30 years
Archaeologists have reopened a “cursed” tomb that housed laborers that worked on the Pyramids for the first time since it was discovered some 30 years ago, according to Newsweek. The reopening comes as part of efforts to boost tourism and restore more sites for public display. Two other tombs in the area have been opened […]
Posted inEGYPT IN THE NEWS
Lawyer promoting rape, harassment leads coverage of Egypt
Lawyer promoting rape, harassment leads coverage of Egypt: It is with great shame that we confirm that the lawyer who claimed that the rape and harassment of women who don ripped jeans to be a “national” and “patriotic” duty is leading coverage of Egypt in the western press this morning. The National Council for Women […]
Posted inEGYPT IN THE NEWS
Try to change North Korea’s regime peacefully, says ex-ambassador to Egypt-turned defector
The highest-level North Korean defector in two decades says America should bring change peacefully by challenging the totalitarian regime’s grip on information rather than resorting to military action, the Associated Press reports. The defector, Thae Yong Ho, was North Korea’s ambassador to Egypt when he fled and resettled in the US in 1997 and now […]
Posted inEGYPT IN THE NEWS
Egypt is worried that Sudan’s agricultural expansion will threaten its Nile water supply
Sudan’s planned agricultural expansion has been a cause for concern in Egypt, as Cairo is worried Khartoum will increase its use of Nile River water, thereby reducing Egypt’s water supply, Al Monitor's Ayah Ayman says. “Sudan now has a hostile position toward Egypt when it comes to water. There are talks within Sudanese political circles […]