Author Archives: enterpriseam admin

Egypt could see a Turkey-style anti-migration agreement with the EU as early as next month, the Reuters reports in a piece that’s been picked up by major global media outlets including the New York Times. The EU is offering simplified visa procedures for Egyptian nationals and increased economic aid to Egypt in exchange for “smoother […]

Investor Associations claim to have reached agreement to settle pre-float LCs: The Union of Egyptian Investor Associations (UEIA) is now claiming that it had reached an agreement with the CBE on settling LCs opened from before the EGP float. Members tell Al Borsa that companies with outstanding pre-float LCs worth USD 5 mn or less […]

It looks like cash subsidies might be off the table for now: There is “no need to rush” major decisions such as a switch to cash subsidies from the current commodity subsidy system, newly-appointed Supply Minister Ali El Moselhy tells Al Ahram, saying cash subsidies aren’t feasible given the nation’s current economic challenges. El Moselhy, […]

The amendments to regulations on how FX losses last year may be treated for tax purposes under Egyptian Accounting Standards were published in the Official Gazette yesterday after former investment minister Dalia Khorshid gave them her official nod earlier this month. The Egyptian Financial Supervisory Authority had extended the deadline for EGX-listed companies to submit […]

MOVES- Hatem Darweesh has joined law firm Zaki Hashem & Partners as a partner in the firm’s arbitration and litigation departments. Darweesh has served as a sole arbitrator, a party-appointed arbitrator, and counsel in a large number of local and international commercial arbitrations under a variety of arbitration rules including ICC, ICSID, CRCICA and UNCITRAL. […]

PHD moves into Alexandria: Palm Hills Developments (PHD) signed an agreement with an undisclosed party to co-develop over 135 feddans in Alexandria into an integrated community. PHD claims the agreement, signed on a revenue sharing basis, makes the company “the first major developer” to enter Alexandria and is the company’s first project outside the suburbs […]

We’re trying to be sympathetic. We really are. But parents who (like many of us here) have enrolled your kids in schools / unis with foreign teachers: The khawaget ain’t gonna work for EGP. Dozens of angry parents of American University in Cairo (AUC) students have reportedly filed a lawsuit to protest the sharp rise […]

The Court of Cassation has upheld death sentences yesterday against 10 people convicted in the Port Said stadium riot that killed over 70 Al Ahly fans in 2012. “The verdict by the Court of Cassation is final. The defendants were charged with murder, along with other charges. The court also upheld convictions of 22 suspects […]