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Egypt’s natural gas sector is “on pace for a profound change in the next five years,” consultant Wood Mackenzie says. “After swinging from the world's eighth largest liquefied natural gas exporter in 2009 to the world's eighth largest LNG importer in 2016, the wheel is set to turn again,” a report emailed to UPI found. […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Regulations to write-off expenses incurred in sourcing FX from the parallel market coming “soon”
Businesses will soon learn how they can treat for tax purposes the discrepancy between what they paid for FX in 2016 and the official market rate at the time, Finance Minister Amr El Garhy told Al Borsa. The ministry is consulting with business associations and looking for a solution that’s fair to all parties, the […]
Posted inSpeed Round
New regulations on M&A, private placements in the pipeline
New regulation is in the pipeline for the financial industry, with mergers and acquisitions and private placements set to come under closer scrutiny as a result of two separate reviews of existing legislation. ECA to have signoff on M&As? The Egyptian Competition Authority (ECA) intends to finalize by March amendments to the Competition Protection Act […]
Posted inSpeed Round
The movable guarantees law exec regulations are positive, need clarity –Sharkawy & Sarhan
Our friends at the Sharkawy & Sarhan law firm published their take on the executive regulations of the movable guarantees law that came into effect in December. They also included their notes from a meeting that included various stakeholders, as well as EFSA Chairman Sherif Samy and GAFI Chairman Mohamed Khodeir. Overall, Sharkawy & Sarhan […]
Posted inSpeed Round
Eastern Company raises prices of Cleopatra cigarettes
Eastern Company has raised the prices of Cleopatra cigarettes by EGP 0.25-1.50 per pack, blaming FX pressure of the move, Al Masry Al Youm reported. Eastern had promised last month to not raise the price of its lowest-cost product category.
Posted inSpeed Round
iPhone and perfume bottles caused EgyptAir MS804 cockpit fire, say French investigators
Did an iPhone bring down MS804? The French investigation into the crash of EgyptAir flight MS804 from Paris to Cairo are pointing to an iPhone 6S, an iPad mini 4, and several bottles of perfume reportedly belonging to the co-pilot as potential culprits behind a fire in the cockpit that brought down the plane last […]
Posted inSpeed Round
Trump stirs controversy with Russia and China remarks in WSJ interview
Just five days before he’s due to be sworn into office, US president-elect Donald Trump is stirring the pot with Russia and China. In an hour-long interview with the Wall Street Journal (paywall), Trump said he is not opposed to the idea of lifting US-imposed sanctions on Russia “if Moscow cooperates on issues of mutual […]
Posted inSpeed Round
CORRECTION- Egypt’s eurobond issuance is planned over two tranches: One that starts this month and another that could take place in 2H2017, according to an unnamed source. A typo in Thursday’s issue gave the impression that there would just be one issuance. We regret the error. The piece has been amended on our website.
Posted inEGYPT IN THE NEWS
Foreign Ministry condemns criticisms of court decisions to freeze assets of NGOs
The lead story on Egypt in the Western press this morning focuses on international criticism of a court decision freezing the assets of a number of prominent human rights groups. France 24’s coverage is typical, and the story has been picked up everywhere from The Guardian to the Associated Press. Criticism from the European Union […]
Posted inEGYPT IN THE NEWS
Strengthening Egypt’s relations with Africa is a win-win -ISS
If Egypt can reorient itself as an African power, “it would be a win-win for the continent,” Simon Allison writes for the Institute for Security Studies. “Egypt is finally embracing its African identity” in its attempts to forge new alliances, particularly after the perceived fallout with Saudi Arabia. Allison says, “Egypt has been making up […]