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New Banking Act will not impose term limits on banks’ managing directors
LEGISLATION WATCH- There are no term limits for bank managing directors in the draft of the amended Banking Act now…
Egypt’s state-owned oil tanker company MIDTAP gets new CEO
MOVES- Appointments at state-owned petroleum companies: Oil minister Tarek El Molla has named Adel Elsayed Elsheyoukh as CEO of state…
Earnings watch: BdC, Domty, B Investments, NBE
EARNINGS WATCH- Banque du Caire reported a significant 221.5% jump in net profit after tax to EGP 2.5 bn in…
Egypt cracks top five favored locations for contact center outsourcing
Egypt cracks top-five in global contact center ranking: Egypt was ranked as the fourth most-favored destination to outsource contact centers,…
Egypt’s Industrial Development Authority suspends licensing for tuk-tuk makers
REGULATION WATCH- No more licenses for tuk-tuk makers: The Industrial Development Authority (IDA) has decided to stop handing out licenses…
Gov’t to issue tender regs for industrial land next month
REGULATION WATCH- The government aims to issue next month new regulations for industrial land tenders, said Industrial Development Authority (IDA)…
Supply Ministry to begin registering newborns to subsidy rolls as of June, after completing its Kramer purge
The Supply Ministry will begin registering newborns on its subsidy rolls in June, despite having yet to actually remove any…
Egypt earmarks incentives worth EGP 1.5-2 bn annually for SMEs under new Act
LEGISLATION WATCH- The SMEs Act includes tax and non-tax incentives worth EGP 1.5-2 bn annually to support entrepreneurship and encourage…
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