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The House of Representatives has the Industrial Permits Act on its agenda for next week’s general assembly, now that its regulations have been drafted, Al Borsa reports. The legislation is expected to expedite the issuing of licenses for factories.
Author Archives: enterpriseam admin
Posted inEgypt Politics + Economics
Egypt plans to issue USD 1 bn one-year USD treasury bill
The Finance Ministry plans to issue USD 1 bn in one-year USD-denominated treasury bills to domestic and international financial institutions, Reuters reported. The auction deadline is 13 February, the CBE said in a statement.
Posted inEgypt Politics + Economics
Parliament complaints of lack of cooperation from government agencies over private funds
Some government bodies have apparently been refusing to disclose the accounts on their private funds — which are not part of the budget and have gained the reputation for being slush funds — to the House of Representatives, parliamentary sources tell Al Borsa. The Finance Ministry was supposed to send the House audit reports for […]
Posted inEgypt Politics + Economics
Misr Spinning and Weaving employees end strike
Workers at the Misr Spinning and Weaving Company have suspended their strike and production has resumed in the factories, company chairman Hamza Abul Fath tells Ahram Online. According to Abul Fath, the workers were “misled by the media” into believing that the company is expected to increase their salaries due to the circulation of a […]
Posted inON YOUR WAY OUT
Egypt to receive second USD 500 mn tranche of AfDB loan expected in two weeks -AfDB
Egypt is expecting to receive the second USD 500 mn tranche of its USD 1.5 bn loan from the African Development Bank (AfDB) in two weeks at the most, according to Al Borsa. Negotiations for the third tranche should begin in the few months ahead, AfDB’s Egypt representative Laila Al Moqadem said, particularly now that […]
Posted inON YOUR WAY OUT
Authorities raid cafes in Greater Cairo after 24 year-old man was stabbed by waiters
Authorities shut down 131 cafes and restaurants in Greater Cairo for violating building and licensing codes, Al Shorouk reported. The raid came one day after 24 year-old Mohamed Bayoumi was stabbed to death by waiters at a Heliopolis cafe for an argument over the bill, according to Ahram Online. The owner and employees are currently […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.09 | Sell 18.22 EGP / USD at CIB: Buy 17.95 | Sell 18.05 EGP / USD at NBE: Buy 18.00 | Sell 18.05 EGX30 (Wednesday): 13,228.33 (+0.75%) Turnover: EGP 1.354 bn (215% above the 90-day average) EGX 30 year-to-date: +7.156% THE MARKET ON WEDNESDAY: The Egyptian benchmark […]
Posted inCALENDAR
26 January - 10 February (Thursday-Friday): Cairo International Book Fair, Nasr City fairgrounds. 14-16 February 2017 (Tuesday-Thursday): Egypt Petroleum Show 2017 (EGYPS), CIEC, Cairo. 16 February (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting. 23 February (Thursday): Potential date for resumption of flights between Egypt and Russia, according to Izvestia newspaper. 06-08 March (Monday-Wednesday): […]
Posted inWhat We're Tracking Today
What we’re tracking on 7 February 2016
Get ready to meet your new cabinet on Sunday, 12 February, Prime Minister Sherif Ismail told Ahram Gate. That trumps an earlier report citing sources at the pro-government Support Egypt Coalition as confirmingthe date. Elsewhere, Al Shorouk suggests that President Abdel Fattah El Sisi rejected last Thursday at least five of the 10 potential ministers […]