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Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
New electricity prices will be announced end of this week, sources tell Al Mal. The move to raise prices by an average of 30%, will be part of a general phase out of subsidies which will continue until 2021, unnamed sources tell Al Masry Al Youm. Prime Minister Sherif Ismail reportedly said that the hikes […]
Posted inON THE HORIZON
On the horizon
New unified fees for ports nationwide could be issued in a month’s time, Suez Canal Economic Zone Chief Mohab Mamish tells Al Mal. Mamish had agreed with Transport Minister Hisham Arafat earlier this month to harmonize port fees in Egypt to eliminate any competition between them. We’re getting 4G within two months, an unnamed source […]
Posted inEnterprise+: Last Night’s Talk Shows
Fuel price hikes steal the spotlight on the airwaves
The Ismail government’s decision to hike fuel and energy prices last week ahead of the new fiscal year dominated the airwaves last night. On Hona Al Asema,Lamees Al Hadidi hosted none other than Petroleum Minister Tarek El Molla, who noted among other things that the phase-out of energy subsidies will make it easier for the […]
Posted inSpeed Round
Gov’t hikes fuel prices 55%
Government hikes energy prices: The government raised energy prices by as much as 55% for fuel products and 100% for cooking gas, Prime Minister Sherif Ismail announced on Thursday (watch, runtime 14:40). “We took part of the value of the subsidies allocated to energy to use it for other subsidies that are important for limited-income […]
Posted inSpeed Round
Draft of Investment Act executive regulations is out
The first draft of the executive regulations to the Investment Act is out: After weeks of closed-door sessions, a draft of theInvestment Act’s executive regulations is out (which you can view in full here courtesy of AMAY). The 108-page document outlines the state’s investment-promotion framework for everything from manufacturing to healthcare. The regulations also clarify […]
Posted inSpeed Round
EAEF’s James Harmon talks up Egypt’s “right macro fundamentals” to US Congress
EAEF’s James Harmon talks up Egypt’s “right macro fundamentals” to US Congress: Egypt’s economy currently has the “right macroeconomic fundamentals” to attract foreign direct investment, said Egyptian-American Enterprise Fund (EAEF) Chairman James Harmon in a glowing report on Egypt’s economic recovery to the US House of Representatives’ Committee on Foreign Affairs. “This creates a multiplier […]
Posted inSpeed Round
Fitch affirms Egypt’s credit rating at B, outlook stable
Ratings agency Fitch has affirmed Egypt's Long-Term Foreign- and Local-Currency Issuer Default Ratings at B with a stable outlook. The main factors that Fitch says, individually or collectively, could lead to a positive action are: Continued progress on fiscal consolidation leading to declining government debt/GDP, sustained stronger economic growth supported by reforms to the business […]
Posted inSpeed Round
Draft Automotive Directive to be ready in the near future -EAMA head
Compromise on the automotive directive at hand? We might yet live to see the automotive directive issued in the near future as talks between the Trade and Industry Ministry and the legislation’s detractors appear to be progressing, according to statements by Egyptian Automobile Manufacturers Association (EAMA) head Hussein Moustafa to Youm7. He (being one of […]
Posted inSpeed Round
Ride-hailing Apps Bill to include provisions for micro-buses?
Ride-hailing Apps Bill to include provisions for micro-buses? The Investment Ministry has reportedly requested withdrawing the Ride-hailing Apps bill currently before the House of Representatives to include provisions which would presumably allow hailing micro-buses on demand, according to Al Masry Al Youm which is citing the ministry. While we applaud efforts to expand the growth […]