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Beltone Financial is looking to quadruple the value of its index fund from EGP 55 mn and list it on the Nasdaq Dubai exchange, Director of Asset Management Kareem Naema told Reuters in an interview. “We've been working over the past three months on listing the index fund on the Nasdaq Dubai. It's going to […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Cabinet approves Leasing and Factoring Act, Nile traffic bill, and others during weekly meeting
The Ismail government signed off yesterday on the amended Leasing and Factoring Act that the Egyptian Financial Supervisory Authority had drafted in April, according to a Cabinet statement. The bill, which will now be passed to the Council of State (Maglis Al Dawla) for review, adds clauses to regulate SME financing and mandates the country’s […]
Posted inSpeed Round
Small businesses in the UAE are likely to be most impacted by VAT
REGIONAL- Small businesses in the UAE are likely to be most impacted by the 5% value-added tax (VAT) that will be imposed as of January next year, Muzaffar Rizvi writes in Khaleej Times. Larger enterprises have been preparing themselves for the impending tax, which represents “a significant shift in the UAE's fiscal policy and wider […]
Posted inSpeed Round
Trump says NAFTA could be terminated
US President Donald Trump said the North American Freetrade Agreement (NAFTA) is likely to be terminated, CNBC reports from a rally in Arizona. NAFTA, which US negotiators had previously referred to as “unfair” and in need of “major improvement,” had been a key rallying point of Trump’s presidential campaign. The Donald said at his rally […]
Posted inUncategorized
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Posted inTHE MACRO PICTURE
Globalization in retreat — capital flows decline since crisis
Globalization in retreat — capital flows decline since crisis: The volume of cross-border capital flows has fallen sharply, but that may not be a bad thing, says Shawn Donnan in the Financial Times. Capital flows have dropped to USD 4.3 tn in 2016, down to a third of the USD 12.4 tn in 2007. Leading […]
Posted inEGYPT IN THE NEWS
Jared Kushner’s rocky touchdown in Cairo pervades international media White House envoy Jared Kushner’s rocky touch down in Cairo yesterday was all anyone in the international press could talk about this morning. Egypt’s Foreign Minister Sameh Shoukry had axed, and then reinstated, Kushner’s meeting from his Wednesday agenda, after the US government decided to withhold […]
Posted inEGYPT IN THE NEWS
Egypt’s involvement in GCC dispute with Qatar is about “economic statecraft”
Egypt is at the “ideological center” of the ongoing dispute between Qatar and its neighbouring GCC countries, Karen E Young writes for the Washington Post. Young says the dispute, in many ways, is about the “exercise of economic statecraft.” She mentions the economic aid from the GCC to Egypt as well as its importing of […]
Posted inEGYPT IN THE NEWS
Exports from Robeki Leather City expected to reach USD 1 bn in 2020
Exports from the Robeki Leather City are expected to exceed USD 1 bn in 2020, up from a current USD 200 mn, as it grows to become the new hub for Egypt’s leather industry, Eric Knecht and Mohamed Zaki write for Reuters. The fully integrated leather manufacturing zone is set to be completed by mid-2018, […]
Posted inEGYPT IN THE NEWS
Anti-dumping duties: economics or politics?
Anti-dumping duties: economics or politics? Steel prices have jumped 22% since anti-dumping duties were imposed on the industry in June, raising questions about the measure’s efficacy, a story by Al Monitor says. At face value, the measure appears to be protecting steel producers against foreign currency suppliers, as they struggle with rising costs of production […]