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VEON and subsidiary Global Telecom Holding announced the acquisition of additional 4G/LTE spectrum in Pakistan, through their local 85% owned subsidiary, Jazz. The company says Jazz won the auction, awarding it 10 MHz paired spectrum in the 1800 MHz band for a total consideration of USD 295 mn plus withholding tax of 10%.
Author Archives: enterpriseam admin
Posted inAutomotive + Transportation
Mercedes-Benz’s new CLA Shooting Brake is now available in Egypt
Mercedes-Benz Egypt released its new generation of compact cars with the new model GLA, CLA Coupé, and for the first time in Egypt, its CLA Shooting Brake, the company announced in a statement on Tuesday. The compact cars boasts newer sleek designs, bumpers, and new light-alloy wheels, said Mercedes-Benz.
Posted inBanking + Finance
Gov’t mulls increasing rates on Suez Canal investment certificates
The Finance Ministry is mulling raising interest rates on Suez Canal investment certificates to 17.5%, up from 15.5%, following the central bank’s decision to increase rates, sources tell Al Mal. The sources say the Ministry will deliberate the decision with the central bank. However, Vice Minister Mohamed Maait says the ministry has not yet issued […]
Posted inBanking + Finance
EGX approves CIB capital increase
The EGX approved CIB’s issued and paid-up capital increase to EGP 11.62 bn from EGP 11.54 bn. The capital increase is issued as part of the bank’s stock option compensation plan.
Posted inBanking + Finance
Securities firms to move to fully electronic tax filing and payment system by year’s end
Securities firms will be filing their tax paperwork and making their payments electronically by the end of 2017, Vice Finance Minister Amr El Monayer said on Tuesday, Al Shorouk reports. The move to a digital tax platform is expected to help curb tax fraud and manipulation.
Posted inNational Security
Egypt will join the NATO-like regional pact, but won’t fight in Syria
Egypt "is going to join" the Middle East military alliance pact advocated by US President Donald Trump and informally known as Arab NATO, if it is created, said MP Ahmed Ismail, member of the House of Representatives’ National Security Committee. However, missing the point entirely of the nickname, Ismail tells Sputnik that Egypt would not […]
Posted inON YOUR WAY OUT
Egyptian becomes first amputee to swim across Red Sea’s Aqaba Gulf
Egypt’s Omar Hegazy became the first amputee to swim across the Red Sea’s 20 kilometer Aqaba Gulf from Egypt to Jordan, Reuters said on Tuesday. Hegazy, a 26 year-old banker who lost his left leg in a motorcycle accident two years ago, trained hard and long to regain his strength and return to his adventurous […]
Posted inON YOUR WAY OUT
Egypt’s population to grow to 119 mn by 2030, studies show
Egyptians are going to grow into a population of 119 mn citizens by 2030, the latest findings from a report by the UN Population Fund and Egyptian Center for Public Opinion Research (Baseera) show, according to AMAY. President Abdel Fattah El Sisi had said last week that the government is working on strategies to help […]
Posted inON YOUR WAY OUT
Endowments Ministry to regulate use of loudspeakers during Ramadan
The Endowments Ministry announced its intention to “regulate” the use of loudspeakers outside mosques during Ramadan’s Taraweeh prayers to prevent excessive noise, Egypt Independent reports. According to Minister Mokhtar Gomaa, the ministry will allow mosques to use amplifiers outside only if worshipers cannot fit inside the mosque.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0197 | Sell 18.1235 EGP / USD at CIB: Buy 18.00 | Sell 18.10 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Tuesday): 12,792 (+1.1%) Turnover: EGP 1.2 bn (40% below the 90-day average) EGX 30 year-to-date: +3.6% THE MARKET ON TUESDAY: The EGX30 ended […]