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Tourism Development Agency head Hisham El Demery is in India as part of a delegation traveling to four Indian cities over the next five days to attract tourists, Al Mal reports. The delegation is looking to promote Egypt as a honeymoon destination, as well as an ideal location for filming Bollywood movies, according to El […]
Author Archives: enterpriseam admin
Posted inLegislation + Policy
House Economics Committee discusses proposal to allocate 10% of private funds’ income to subsidy card system
The House Economics Committee is discussing a proposal to allocate up to 10% of the state-controlled “private funds” (the government’s semi-official slush fund) towards the country’s subsidy card system, Al Shorouk reports. The proposal, put forth by MP Mohamed Elsewedy, would also see 15% of these funds’ surplus revenues directed towards closing the state’s budget […]
Posted inEgypt Politics + Economics
Gov’t reconsiders establishing sovereign wealth fund
The government is reconsidering establishing a sovereign wealth fund to manage the state’s underutilized assets, Al Mal reported. The government had considered setting up the “Amlak” fund two years ago after consulting with Strategy&. Former Planning Minister Ashraf El Araby and former Investment Minister Ashraf Salman had reached an agreement to set up the fund […]
Posted inEgypt Politics + Economics
El Sisi revives Supreme Council for Legislative Reform
President Abdel Fattah El Sisi issued a decision yesterday to re-establish the Supreme Council for Legislative Reform, headed by Prime Minister Sherif Ismail, Youm7 reports. The council will be comprised of the Justice and Parliamentary Affairs Ministers, in addition to various members of the judiciary, including the head of the Council of State (Maglis El […]
Posted inEgypt Politics + Economics
South Sinai MPs submit collective resignation
A group of South Sinai members of parliament collectively submitted their resignations yesterday to House Speaker Ali Abdel Aal to protest bureaucratic delays from executive bodies in their governorate, Al Masry Al Youm reports. According to the MPs, the delays are preventing them from addressing their constituents’ needs.
Posted inON YOUR WAY OUT
Electricity theft during Ramadan costs the state EGP 200 mn
Electricity theft costs the state as much as EGP 200 mn during Ramadan alone, an Electricity Ministry source said, according to Al Borsa.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0329 | Sell 18.1359 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Sunday): 12,692 (-0.1%) Turnover: EGP 630 mn (41% below the 90-day average) EGX 30 year-to-date: +2.8% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
08-09 May (Monday-Tuesday): Third Egypt CSR Forum, Intercontinental Citystars Hotel, Cairo. 9-11 May (Tuesday-Thursday): 2nd Egypt Oil & Gas Summit, Cairo. 10-12 May (Wednesday-Friday) The 15th Middle East & North Africa International Franchise Exhibition, AUC Downtown Greek Campus, Cairo. 10-12 May (Wednesday-Friday): RenCap's 8th Annual Pan-Africa 1:1 Investor Conference, Lagos. 15-17 May (Monday-Wednesday): Morgan Stanley's […]
Posted inWhat We're Tracking Today
What we’re tracking on 07 May 2017
Will we have an Investment Act today? The House of Representatives is scheduled to hold its final vote on the Investment Act today, ending a long, drawn-out debate. The move comes after the deadlock last week on some of the bill’s key issues was resolved on Thursday. We have more in Speed Round, below. The […]