Author Archives: enterpriseam admin

EFSA chairman takes a stand against a stamp tax rate of 0.5%: Egyptian Financial Supervisory Authority (EFSA) chairman Sherif Samy reportedly opposes the imposition of a stamp tax of up to 0.5% on stock market transactions, according to Al Mal, which quotes Samy as saying the move could curb inflows into the EGX. This follows […]

The Central Bank of Egypt will be repaying USD 500 mn to the Saudi Fund for Development in June, a source told Al Borsa. The amounts were borrowed mid-2012 at an interest rate of 5%. A source said reports that Egypt is looking to extend to refinance the borrowing for the Saudi Fund are untrue […]

The tourism industry is cautiously (and from a very low base) returning to growth. That’s the take-home message from the AFP, which cites Tourism Federation chief Karim Mohsen as explaining that “there is an improvement, especially in cultural tourism in Cairo, Luxor and Aswan,” that saw arrival figures rise in October through January. Total arrivals […]

GAFI boss denies he resigned: Mohamed Khodeir, Chairman of the General Authority for Investment (GAFI), has denied resigning, according to Ahram Gate. Earlier yesterday, Al Masry Al Youm had published news that Khodeir resigned as GAFI’s chairman, following the appointment of Sahar Nasr as Investment and International Cooperation Minister and that there were “efforts” to […]

House to vote on Natural Gas Act in March: The House of Representatives’ Energy Committee expects to complete reviewing the Natural Gas Act — which would largely deregulate the sector — this week and move it to the floor of the House for a vote in March, Al Borsa reports. The committee, which has been […]

And that’s not all, as it seems there is light at the end of the tunnel that is the House for the automotive directive. The House of Representatives’ Industry Committee will set a date to vote on the Automotive Directive in the general assembly once the legislation is final. When will it be final? After […]

Global Telecom Holding receives offer of 1.3 mn shares under share buyback program, or about 2.5x the number of shares the company announced it would buy back on 16 January 2017, according to a regulatory filing (pdf). Pharos Holding is advising on the transaction.

Egypt has been ranked 41 out 45 in the US Chambers of Commerce’s International Intellectual Property Index,which measures a country’s respect for IP rights, scoring 9.38, far below the global median of 15.39 and a regional average of 13.73. Egypt scored high in membership in international institutions that call for strengthening IP frameworks (such as […]

MOVES- Andreas Hergenroether was appointed CEO of the German Arab Chamber of Industry and Commerce (AHK). Hergenroether was previously the executive director of the German Trade Office in Taipei.