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Gov’t backtracks on USD 60 entry visa hike: The government decided yesterday to backtrack on hiking tourist visas to USD 60, and will maintain the cost of single-entry visas at USD 25, while multiple-entry visas will be repriced at USD 60, Al Borsa reports. Yesterday’s decision follows local and international outrage by tourism operators that […]
Author Archives: enterpriseam admin
Posted inSpeed Round
4G and electronic visas for tourists coming in May -CIT Minister
Full 4G spectrum and electronic entry visas coming in May: Mobile network operators can expect to receive their full 4G frequencies by May at the latest and the CIT Ministry is working on delivering ahead of schedule, Minister Yasser El Kady told Al Mal. The ministry will also begin implementing an electronic visa system for […]
Posted inSpeed Round
Al Hokair to invest EGP 15 bn over the next three years to expand Mall of Arabia
Saudi’s Al Hokair Group is looking to invest around EGP 15 bn in Egypt over the next three years to expand the Mall of Arabia brand, says Ashraf Farid, chief business development officer of Marakez — Alhokair’s subsidiary in Egypt. The expansion plans include building three new Mall(s) of Arabia in Tanta, New Cairo, and […]
Posted inSpeed Round
Two contracts for Daba’a power plant expected to be signed within two months
Egypt and Rosatom are expected to sign the final agreements for the Daba’a nuclear power plant in June, unnamed government officials tell Al Borsa. The two remaining contracts will be signed in May before President Abdel Fattah El Sisi and Russian President Vladimir Putin sign all four final contracts in June, according to the officials..
Posted inSpeed Round
Ireland to send medical expert to examine Irish detainee Ibrahim Halawa’s condition
Ireland sending medical examiners to check up on Halawa: Ireland’s government is sending an independent medical team to examine Irish detainee Ibrahim Halawa’s health condition. Irish Minister for Children Katherine Zappone described the move “as a matter of extreme urgency,” as he is currently on hunger strike and has low blood sugar levels, The Irish […]
Posted inSpeed Round
El Sisi commemorates Mother’s Day with strategy and grants to support Egyptian women
President Abdel Fattah El Sisi commemorated Mother’s Day with a basket of initiatives that he announced during a special celebration on Tuesday, which also included a long-term strategy for female empowerment by 2030, AMAY says. El Sisi also pledged a EGP 250 mn grant to an initiative that supports women-led SMEs, a EGP 50 mn […]
Posted inSpeed Round
Cabinet approves anti-fraud law, sanctions joining the AU’s anti-corruption initiative
The Ismail cabinet was on a roll yesterday after approving the stamp tax and reversing the entry visa hikes. Other decisions include: Approving amendments to the anti-fraud law that sets penalties for the manipulation of commodity prices in the market in its various forms, such as keeping stocks in storage longer than they should to […]
Posted inSpeed Round
Goldman Sachs’ Chairman’s letter to shareholders
Goldman Sachs’ Chairman and CEO Lloyd Blankfein published his letter to the shareholders of the bank. He says 2016 started with concerns about global economic growth but as the global economic outlook improved in the second half, other concerns drew to the forefront. Looking ahead, Blankfein says, “economic growth was showing signs of improvement, even […]
Posted inUncategorized
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Posted inImage of the Day
The most therapeutic venue in Egypt?
Are the stresses of life in Cairo starting to get to you? Of course they are, and that was a rhetorical question. Instead of wasting untold amounts of money on a therapist, why don’t you stop by Unleashed, which will give you the chance to let out your frustrations by pummeling everything from old televisions […]