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EGP / USD CBE market average: Buy 17.6662 | Sell 17.7732 EGP / USD at CIB: Buy 17.6 | Sell 17.7 EGP / USD at NBE: Buy 17.5 | Sell 17.6 EGX30 (Thursday): 12,853 (+0.9%) Turnover: EGP 1.3 bn (195% above the 90-day average) EGX 30 year-to-date: +4.1% THE MARKET ON THURSDAY: The EGX30 ended […]
Author Archives: enterpriseam admin
Posted inCALENDAR
08-12 March (Wednesday-Sunday): 2017 ITB Berlin, CityCube Berlin, Germany. 15 March (Wednesday): Arab Women Organization’s event: Investing in refugee women, UN General Assembly Building, New York City. 18-19 March (Saturday-Sunday): Delegation of Japanese food industries companies visits Egypt. 29-30 March (Wednesday-Thursday): Cityscape Egypt Conference, Nile Ritz-Carlton, Cairo. 29-31 March (Wednesday-Friday): Balanced Development of Siwa Oasis […]
Posted inWhat We're Tracking Today
What we’re tracking on 9 March 2018
We’ll be taking our value-added tax executive regulations sans salt this morning, as the Finance Ministry officially released them yesterday morning. They clarify key issues with the VAT, define sectors and industries, outline reductions and rebates, and set the status of contracts signed pre-VAT. We have more for you to peruse in the Speed Round. […]
Posted inON THE HORIZON
On the horizon
The House of Representatives will vote on the Contractor's Compensation Act in a plenary session on Monday 13 March. Contractors have been urging the state to hasten the bill — which will compensate suppliers and contractors for FX losses incurred after the EGP float — since it was first proposed in December, claiming that the […]
Posted inEnterprise+: Last Night’s Talk Shows
Lamees launches her version of the View, gov’t raises wheat prices for farmers; Adib cries shame at Egypt’s booth in ITB expo
It was a fairly boring night for on the airwaves, as discussions were mainly centered around food prices, subsidies and the exchange rate. Lamees El Hadidy was the only one to give a shout out to international women’s day by kicking off her version of the View, Hona Al Settat, with an episode centered around […]
Posted inSpeed Round
Finance Ministry releases VAT executive regulations
Habemus VAT executive regulations: The Finance Ministry issued the executive regulations of the value-added tax (VAT) law yesterday. The ministry says the executive regulations clarified definitions, including, for example, contentious items like what “professional services” entail, and resolved ambiguity on exemptions and processes. It also explains the transition to VAT and exemptions, and outlines that […]
Posted inSpeed Round
Oxford Business Group interviews El Sisi for their Egypt 2017 report on economic reforms
President El Sisi sends reassuring message to investors in upcoming Oxford Business Group report: The success of Egypt’s economic reform program still requires a number of important structural and policy changes, at the head of which is the long-awaited Investment Act, President Abdel Fattah El Sisi reportedly told the Oxford Business Group in an interview […]
Posted inSpeed Round
Egypt’s external sector shows clear rebound in 2Q2016-17 BoP report
Egypt records a balance of payments (BoP) surplus of USD 7.0 bn in 1H2016-17, up from an overall deficit of USD 3.4 bn registered a year earlier, according to the central bank’s BoP report. The central bank points specifically to 2Q2016-17, which saw the EGP flotation, and registered USD 5.1 bn of the BoP surplus […]
Posted inSpeed Round
Supply Ministry raises golden card quota again, issues 100,000 subsidy smart cards
The Supply Ministry decided yesterday to raise the quota of bread bakeries are allowed to sell to temporary card holders in four governorates, to reach as many as 3,500 loaves per day, depending on the needs of each area, Al Borsa reports. Largely backtracking on last week’s decision to cut down on the number of […]