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Enppi takes first steps towards listing on the EGX
IPO Watch- The Oil Ministry has greenlit the beginning of the process to offer up to 24% of state-owned oil…
Finance Ministry approves 10% social welfare raise for bureaucrats not under Civil Service Act
Government employees who don’t fall under the Civil Service Act are getting a 10% social welfare raise after the Finance…
TE replaces CEO, gov’t representatives on board of directors
Shake up at Telecom Egypt: Telecom Egypt has appointed Ahmed El Beheiry as its new CEO, the state-owned landline monopoly…
Saudi Arabia slashes tax rates on Aramco, sets income tax rates for other producers
Saudi Arabia issued a royal decree slashing taxes payable by Aramco to 50% from 85%, Bloomberg reports. Aramco currently pays…
Egyptians expected to spend 55% of their monthly budget on food during Ramadan -Ipsos
Survey on Ramadan spending habits: Food is expected to account for the lion’s share of Egyptians’ expenditures during the month…
Francesco Monaco replaces Don Smith as FCA’s CEO
MOVES- Francesco Monaco succeeded Don Smith as CEO of Fiat Chrysler Automobiles Egypt (FCA) on 1 March, according to a…
Earnings watch: GB Auto, EFG Hermes release 4Q/FY2016 results
EARNINGS WATCH - GB Auto reported a net loss of EGP 865.7 mn in 2016, compared with a netprofit of…
Geldof invests in African fruit firm with eyes on fresh juice operations in Egypt
Irish rock star Bob Geldof's 8 Miles private equity fund announced it acquired a minority stake in UK-incorporated Blue Skies,…
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