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UAE’s Dragon oil was awarded the North July oil concession
PLUS- Madinet Masr will set up development companies abroad with initial investments of USD 5 mn
Egyptian Competition Authority cracks down on alleged egg cartel
The cartel represents around 70% of the market
Pharma sector requests raw ingredient customs breaks, packaging VAT breaks. PLUS: pharma monopolies beware, Menthum + CI Capital, Palm Hills Developments, Kraft Heinz
Around 90% of the raw materials used in the pharma industry are imported
What draft laws are up for a vote at parliament’s next session?
The House will discuss the Labor Act that was pulled last year after backlash from the business community
Banque Misr’s MDI has poured some EGP 2.5 bn into Onebank. PLUS: News from Elsewedy Electric, OPay, Edita
MDI received preliminary approval last week from the Central Bank of Egypt to launch Onebank
Cabinet greenlights regs for Building Reconciliation Act + much more
Justice Minister Omar Marwan had said that the regulations will be out no later than 22 February
Egyptian Competition Authority slams 33 printing presses for violations. PLUS: Egyptalum raises prices
The companies were found to have coordinated with each other to rig the tender
Eagle Hills signs up Hassan Allam to work on new North Coast development. PLUS: New anti-money laundering regs + news from Madinet Masr, Misr Life Insurance and SAIB.
Orascom Construction is also working on the project under a contract signed last week
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