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Author Archives: enterpriseam admin
Posted inON THE HORIZON
On the horizon
President Abdel Fattah El Sisi could be heading to Berlin on 12 June. Look for an Egyptian-German business and investment forum to take place at the same time. The Investment and International Cooperation Ministry have met with the Arab-German Chambers of Commerce to get the ball rolling on the forum, according to an emailed statement […]
Posted inEnterprise+: Last Night’s Talk Shows
There’s nothing to report. Zero. Bupkis. The most uninspiring night of talk shows in months.
Posted inSpeed Round
Investment Act signed into law
The new Investment Act is now the law of the land: The long-awaited Investment Act has come into effect after being signed by President Abdel Fattah El Sisi and published in the Official Gazette (pdf) on Thursday. The House of Representatives had passed the bill — which offers a range of tax and non-tax incentives […]
Posted inSpeed Round
Gov’t takes huge step forward on mobile payments policy
A huge step forward on mobile payments framework: A number of key decisions to set up a mobile payments framework for the country were taken by the National Payments Council at its inaugural meeting headed by President Abdel Fattah El Sisi on Saturday, Al Mal reports. The council, which includes as members Central Bank Governor […]
Posted inSpeed Round
Gov’t moves to tighten control of exports by hiking capital requirements for importers
Tightening control of imports: The Trade and Industry Ministry issued amendments to the executive regulations of the Importers Registry Act on Saturday meant to tighten control of imports, Reuters says. The amendments — which complement changes to the Importers Registry Act that were issued in March — raise the minimum capital requirement for the smallest […]
Posted inSpeed Round
Carlyle eyeing investments in Egypt
Carlyle eyeing investments in Egypt: Private equity outfit Carlyle is eyeing two investment opportunities in Egypt through its USD 700 mn Africa fund, according to Bloomberg’s Colin McClelland. The fund will commit between USD 30 mn and USD 100 mn on each, managing director Eric Kump said, declining to name industries or be more specific. […]
Posted inSpeed Round
Egypt among top five destinations for Chinese one belt one road initiative - Thomson Reuters
Speaking of foreign investment: Egypt is one of five top destinations for Chinese M&A under the Belt and Road initiative, according to a report by released by Thomson Reuters, the Chinese Academy of Social Sciences and Tsinghua University. Egypt joins Kazakhstan, Russia, Israel, and Singapore in making the top five, Xinhua reports. Finance, energy and […]
Posted inSpeed Round
House Budgeting Committee to call on Finance Minister to discuss changes to FY2017-18 budget
House to talk FY2017-18 budget amendments with ministers: The House of Representatives’ Budgeting Committee plans to call on Finance Minister Amr El Garhy and other ministers to discuss changes to the FY2017-18 budget, Al Mal reports. The committee has proposed amendments to budget submissions from five ministries including education, higher education, health, supply, and youth,according […]
Posted inSpeed Round
Next IMF review to be in November or December -El Garhy
The next review by the IMF as part of its USD 12 bn, three-year, funding package to Egypt will be in either November or December, Finance Minister Amr El Garhy said, according to Reuters. Egypt completed a review last month and the reached a staff-level agreement with the IMF to disburse a second tranche of […]