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MOVES- Dr. Mona Zawbaa has replaced Mohamed Khodeir as the head of the General Authority for Free Zones and Investment (GAFI), according to a statement (pdf) from the Investment Ministry. Zawbaa was deputy head of GAFI under Khodeir. The decision was made at a GAFI board meeting headed by Investment Minister Sahar Nasr at which […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Film, TV, theater, and music industry to start paying VAT, exports to be exempt
Egypt’s film, television, theater, and music industries will be charging VAT: The Tax Authority signed an MoU with Egypt’s various artists’ unions outlining how creative industries will be charging and paying the value-added tax (VAT), according to Vice Finance Minister Amr El Monayer, Al Shorouk reports. Under the agreement, music, television, film, theatre, and documentary […]
Posted inSpeed Round
Egypt’s Council of Governors to impose stricter punishments and fines for trespassers
The Council of Governors voted on Saturday to impose harsher fines and prison sentences on individuals found to have illegally taken possession of state land, Local Development Minister Hisham El Sherif told the press without revealing any further details. The government has been pursuing campaign to retake possession of state land after President Abdel Fattah […]
Posted inSpeed Round
Cabinet signs off on Civil Service Act executive regulations, oil exploration agreements, and others during weekly meeting
The Ismail government signed off on the executive regulations to the Civil Service Act during its weekly meeting on Thursday, according to a Cabinet statement. Cabinet also okayed six agreements between the Egyptian General Petroleum Company and unnamed IOCs for oil exploration in the Western Desert. Other key decisions taken during the weekly meeting include: […]
Posted inSpeed Round
US banks on Egypt to regain dominance in wheat exports
The US is banking on Egypt to regain dominance in wheat exports: Egypt’s purchase of 115k tonnes of wheat from the US last week may have upended the global wheat market, allowing the US to displace Russia and world’s biggest exporter, write Isis Almeida and Megan Durisin for Bloomberg. This is reportedly the first time […]
Posted inSpeed Round
Paris climate change accord, Blackstone and KSA, coffee grown in California
Among the handful of international stories worth a read on this caffeine-less morning: Donald Trump is at loggerheads with the G7 on the Paris climate change accords. Angela Merkel called the G7 meeting this weekend “very unsatisfying,” while French diplomats characterized the meeting as “tense and antagonistic” in remarks to the Financial Times. The best […]
Posted inSpeed Round
Changes to calls for general assembly applies to listed and non-listed companies
CLARIFICATION- The decree issued by Investment and International Cooperation Minister Sahar Nasr (number 94/2017) that says companies will have to issue their first call for a general assembly at least 21 days in advance rather than 15, applies for both listed and non-listed companies. The decree did not make reference to listed companies only. H/t […]
Posted inUncategorized
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Posted inEGYPT IN THE NEWS
More dribble on Trump, El Sisi, Salman
Leading coverage of Egypt this morning was the Minya shooting, the most significant of which we noted in the Speed Round. “There are thousands and thousands of wrongly imprisoned people [in Egypt,” recently released prisoner Aya Hijazi says in an interview with PBS (runtime 11:22). And it wouldn’t be another day for Egypt coverage without […]
Posted inOn Deadline
Columnists are terrorism-focused after Minya shooting
Columnists were largely preoccupied this weekend with the terrorist massacre in Minya. Among them was Algeria’s Hadda Hezam, who asks in an op-ed carried by Al Masry Al Youm if Egypt’s Coptic population is paying the price of President Abdel Fattah El Sisi’s hard line at the Arab-American summit in Riyadh. She hypothesizes that El […]