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03-05 August (Thursday-Saturday): Watrex Expo Middle East, Cairo International Exhibition & Convention Center. 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 […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 30 July 2017
It’s a packed issue this morning, so just a handful of notes to get us underway today: Bakers across the country are in a state of panic with the looming end of flour subsidies on Tuesday, 1 August. The Supply Ministry announced over the weekend the newly approved bread subsidy system; we have full coverage […]
Posted inWhat We’re Tracking This Week
What we’re tracking this week
Foreign Minister Sameh Shoukry arrived in Manama yesterday to resume talks on Qatar with his Saudi, Emirati, and Bahraini counterparts, according to AMAY. President Abdel Fattah El Sisi had said last week that Egypt was not willing to back down on its demands. Shoukry is also due in Khartoum in the coming day or two […]
Posted inON THE HORIZON
On the horizon
The Health Ministry is close to finalizing its pricing recommendation on 1,400 meds and will be presenting a report to the House next month. The ministry is also gearing up to present the Universal Healthcare Act to cabinet within the first two weeks of August. Also in August, the Investment Ministry plans to present the […]
Posted inEnterprise+: Last Night’s Talk Shows
Bread subsidy system topped conversation on the airwaves
After a wonderful hiatus, we resume our talk shows coverage with a painkiller and the overhaul of the bread subsidies system, which led the conversation on the economy in the airwaves. Supply Minister Ali El Moselhy tells Hona Al Asema’s Lamees Al Hadidi that the ministry will pitch the House of Representatives on cutting bread […]
Posted inSpeed Round
Flour, diesel subsidies officially come to an end for subsidized bread bakeries
Flour, diesel subsidies officially come to an end for subsidized bakers: The Supply Ministry unveiled its new subsidy system, which will come into effect in the first week of August. Wheat mills and bakeries will be required to pay the ministry market price for wheat and flour while holding the retail price of bread at […]
Posted inSpeed Round
Stamp tax executive regulations, income tax breaks out in Official Gazette
Stamp tax on EGX transactions, income tax cuts are now official: The amended executive regulations for the new stamp tax on capital market transactions were published in Wednesday’s issue of the Official Gazette, AMAY said on Friday. The stamp tax — a 0.125% levy imposed on both sides of any capital market transaction that gradually […]
Posted inSpeed Round
CIB sells 3.45% stake in CI Capital for EGP 44.9 mn
CIB sells 3.45% stake of CI Capital: CIB announced on Thursday the sale of 3.45% of its stake in CI Capital in a EGP 44.9 mn transaction, Reuters reports. The sale reduces CIB’s total stake in CI Capital to around 10%, as the bank had also sold 9.99% of its shares in the former subsidiary […]
Posted inSpeed Round
Ibn Sina to start work on IPO before the end of this year, Beltone to manage
IPO WATCH- Ibn Sina Pharma is planning on beginning the process of listing its shares on the EGX by the end of 4Q2017, Al Borsa reports. Beltone Financial has won the mandate to manage the transaction, sources confirmed to Al Borsa, without specifying a timeline or value for the transaction. Ibn Sina CEO Omar Abdel […]