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Contractors are now accusing the government is trying to set up “a legislative loophole” in the Contractor's Compensation Act to not pay them, Ahram Gate reports. The law stipulates that only contractors who have made timely deliveries on their projects would be compensated. Sahl El Damrawy, a member of the Cairo Chambers of Commerce’s building […]
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Size of informal economy biggest challenge to financial inclusion -El Said
The size of the informal economy is the biggest challenge to financial inclusion, Planning Minister Hala El Said told Al Borsa. There is no complete information and participants in the parallel market are wary of being involved in the formal economy, she added. El Said aims to limit the usage of cash and looks at […]
Posted inEgypt Politics + Economics
2018 will be the peak year in Egypt’s five-year debt repayment schedule
2018 is expected to be the peak year in Egypt’s five-year debt repayment schedule, which sees the Central Bank paying around USD 5.22 bn this year, USD 12.9 bn in 2018 (of which USD 8 bn will go to Kuwait, Saudi, Libya, and the UAE), USD 6 bn in 2019, USD 6.1 bn in 2020, […]
Posted inON YOUR WAY OUT
Yehia Qalash receives one-year suspended sentence
A Cairo appeals court gave former Press Syndicate head Yehia Qalash a one-year suspended prison sentence on Saturday on charges of harboring fugitives at the Press Syndicate headquarters last May, Reuters reports. Syndicate board members Khaled Al Balshy and Gamal Abdel Rahim received the same sentence. All three had been sentenced to two years in […]
Posted inON YOUR WAY OUT
EgyptAir given maximum score in air safety assessment
EgyptAir was given the maximum score in air safety following an inspection by the Safety Assessment of Foreign Aircraft (SAFA), EgyptAir Holding chairman Safwat Mosallam said yesterday, Al Shorouk reports.
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0794 | Sell 18.1850 EGP / USD at CIB: Buy 18.10 | Sell 18.20 EGP / USD at NBE: Buy 18.00 | Sell 18.10 EGX30 (Sunday): 13,108 (+0.6%) Turnover: EGP 942 mn (116% above the 90-day average) EGX 30 year-to-date: +6.2% THE MARKET ON SUNDAY: The EGX30 ended […]
Posted inCALENDAR
29 March (Wednesday): First Time SME Equity Fund Managers in Egypt Opportunities and Challenges seminar, Marriott Zamalek Hotel, Cairo. 29-30 March (Wednesday-Thursday): Cityscape Egypt Conference, Nile Ritz-Carlton, Cairo. 29-31 March (Wednesday-Friday): Balanced Development of Siwa Oasis International Tourism Conference, Siwa Oasis. 30 March (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting. 31 March - […]
Posted inWhat We're Tracking Today
What we’re tracking on 26 March 2017
** Take our quarterly reader survey and we’ll take at least two of you to lunch… What are the biggest challenges facing businesses in Egypt? Were the last three months good for doing business? Where do you and your business see the exchange rate stabilizing? Help us help you find out by taking our quarterly […]
Posted inWhat We're Tracking Today
New GBP 1 coin out this week in UK
Heading to Blighty this week? Keep your eye out for the new, 12-sided GBP 1 coin, which includes anti-counterfeit features including micro-lettering and a hologram-like image. The new coin goes into circulation on Tuesday and the existing coin is legal tender until 15 October.