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The Investment Act’s executive regulations will include specific incentives for national projects including the Suez Canal economic zone and the new administrative capital, Investment Minister Sahar Nasr told Al Mal. The executive regulations will also include maintain incentives for existing investors. Separately, Nasr said that three commercial disputes in the Suez Canal area will be […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Yields on Egypt’s short-term borrowing fall significantly
The average yields on Egypt’s six-month and one-year treasury bills dropped in their weekly auction on Thursday, reports Reuters. Average yield on the six-month bill fell to 19.574% from 21.175% and the yield on the one-year bill fell to 19.348% from 20.952%. The drop “illustrates improvement in liquidity, mainly boosted by the strong recovery in […]
Posted inEgypt Politics + Economics
Labor Minister to sign seven agreements today for 10% hardship raise for private sector employees
Labor Minister Mohamed Saafan will sign seven agreements today that will see privately-run companies from the food, tourism and chemical industries sectors pay out the 10% hardship raise intended for private sector employees, according to Al Ahram. Saafan will also hold a press conference after the signing to outline the details of the raise, which […]
Posted inNational Security
50 policemen sentenced for going on strike
Fifty policemen were sentenced to three years in prison for going on strike in protest of working conditions, accordingto Reuters. The policeman were also fined EGP 500 and 40 of them relieved of duty. Their protest was against an increase in work hours and a reduction in vacation time. Charges included striking, inciting violence and […]
Posted inNational Security
Attack in Luxor leaves two dead
An attack by two gunmen left a civilian and one police officer dead in Luxor on Thursday, the Interior Ministry announced. The two gunmen opened fire after being stopped by a patrol. One of the perpetrators was arrested, while the other fled.
Posted inON YOUR WAY OUT
Egypt ranked the third in terms of contributing to UN peacekeeping forces
Egypt is the third-largest contributor to UN peacekeeping forces deployed worldwide, the UN Department of Peacekeeping Operations said Saturday. Egypt has 729 officers and personnel task force in different countries, according to a Xinhua pickup of MENA news agency story.
Posted inON YOUR WAY OUT
Edinburgh’s Fringe Festival to present a wide range of Middle Eastern works
Artwork and a wide range of pieces from the Arab world are set to be displayed at Edinburgh’s Fringe Festival, writes Tim Cornwell of The Scotsman. The coordinator of the Arab Arts Focus, Ahmed Al Attar, director of the D-CAF festival in Egypt, says this festival is the perfect opportunity to “challenge preconceptions” and shed […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 17.7685 | Sell 17.8679 EGP / USD at CIB: Buy 17.77 | Sell 17.87 EGP / USD at NBE: Buy 17.75 | Sell 17.85 EGX30 (Thursday): 13,413 (+ 0.1%) Turnover: EGP 886 mn (4% below the 90-day average) EGX 30 year-to-date: +8.7% THE MARKET ON THURSDAY: The EGX30 […]
Posted inCALENDAR
17 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee to review policy rates. 31 August-04 September (Thursday-Monday): Eid Al-Adha, national holiday (TBC) as specified by the Astronomical and Geophysics Institute. The Thursday is the waqfat Arafat, with the first day of the Eid on Friday, 1 September. September — The House of Representatives is […]
Posted inWhat We're Tracking Today
What we’re tracking on 03 August 2017
Egypt began its month-long term chairmanship of the UN Security Council yesterday with a resolution on weapons proliferation that’s geared to keep small arms out of the hands of terrorists, according to a Foreign Ministry statement. Egypt’s resolution passed unanimously, and the UN’s statement on the subject can be found here. Also on the Security […]