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House studying alternatives to Contractors’ Compensation Act? Chatter in the halls of parliament had been suggesting that the Contractors’ Compensation Act could be coming to a plenary session vote at the House by 29 May, but members of the House of Representatives’ Housing Committee say they are studying alternatives to the act as it would […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Qatar back on the spotlight on the airwaves
The controversy over what Qatari Sheikh Tamim bin Hamad al-Thani said or didn’t say on the Qatari News Agency’s website yesterday (and the GCC ban on Qatari media that it prompted) were center stage on the airwaves last night. (We’ve got full coverage in this morning’s Speed Round.) On Al Hayah Al Youm, Lobna Asal […]
Posted inSpeed Round
Egypt sees new success in second round of eurobond issuance
Even more success with eurobond issuance round 2: Egypt raised USD 3 bn in a triple tranche eurobond sale on Wednesday, about twice as much as targeted and at lower cost than when the same bonds were first sold in January, Reuters reports. The government sold USD 750 mn worth of five-year bonds at yields […]
Posted inSpeed Round
Negotiations to resume flights with Russia stalling?
Russians still playing hardball on resuming flights despite resurgence in Egypt tourism from other sources: Talks between Russia and Egypt are essentially going nowhere. That’s our take based on remarks by Russia’s Deputy Transportation Minister Valery Okulov carried in Sputnik Arabic, which suggest the Russians haven’t grown bored with their tourists-for-nuke-plant extortion tactics. Okulov refused […]
Posted inSpeed Round
Fake news in Poland about Zuk’s death threatens an important outbound market
Fake news in Poland about Zuk’s death threatens an important outbound market: The Polish media’s coverage of the death of Magdalena Zuk — the 27 year old Polish tourist who died in Hurghada — is unnecessarily causing a diplomatic rift between Egypt and Poland and contributing to the slump in tourism, writes Edmund Bower for […]
Posted inSpeed Round
Authorities block access to 21 websites for hosting “pro-terror” content
Egypt blocks 21 websites for hosting pro-terror content and allegedly publishing fake news: The Ismail government has blocked access in Egypt to 21 news websites for publishing fake news and hosting content that security officials described as being “pro-terrorism,” Youm7 reported on Wednesday, citing top security official who spoke on condition of anonymity. The list […]
Posted inSpeed Round
Security forces arrest Hasm member behind police shooting
Security forces arrested yesterday one of the attackers behind a drive-by shooting that killed two police captains and one enlisted member of the police service earlier this month. Investigators have also identified three other alleged perpetrators, the Interior Ministry announced yesterday. According to the statement, the men are members of the Hasm militant group (an […]
Posted inSpeed Round
Transport Ministry to launch tender for Cairo Metro Line 3 private sector operator
Is the government privatizing management of the Cairo Metro? The Transport Ministry is set to launch a tender for a private sector company to operate Cairo Metro Line 3, Transport Minister Hisham Arafat tells Al Borsa. A non-state-owned company will also be tasked with operating Cairo Metro Line 4. Tunneling operations of Metro Line 3’s […]
Posted inSpeed Round
Investment Minister issues amendments to Companies Law
Listed companies will now have to issue their first call for a general assembly at least 21 days in advance rather than 15, as was the case before new amendments to the Companies Act issued yesterdayby Investment and International Cooperation Minister Sahar Nasr. Don’t have quorum after your first call? You’ll need to give seven […]
Posted inSpeed Round
Earnings watch: Elsewedy Electric
EARNINGS WATCH- Elsewedy Electric doubled its consolidated net profit in 1Q2017 to EGP 1.54 bn in 1Q2017, according to a regulatory filing (pdf). Consolidated revenues increased by 108% y-o-y to EGP 9.78 bn in 1Q2017, Reuters reports.