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Cabinet approves in principle amendments to VAT Tax Act, fees for university examinations
CABINET WATCH- Could we finally be getting the VAT lottery? The Madbouly Cabinet gave a preliminary sign off on a…
Earnings Watch- Orascom Construction reports USD 9.5 mn in net profit in 2Q2020
EARNINGS WATCH- Orascom Construction (OC) profits dropped to USD 9.8 mn 2Q2020, down from USD 31.3 mn in 2Q2019, the…
Talks over a USD 100 mn Thai paper factory in Alexandria have broken down due to covid
INVESTMENT WATCH- Covid’s effects on the wider economy continue, however, with talks over a USD 100 mn Thai paper factory…
Medical supplies flood Egypt’s market, while demand falters
Sales of medical supplies — masks in particular — dropped in August, and are returning to pre-covid levels, said Mohamed…
IMEX Int’l plans to acquire over 50% of Egypt’s Nile Cotton Ginning
M&A WATCH- Energy trading company IMEX International is planning to acquire at least 50% of Nile Cotton Ginning, according to…
Egypt buys record quantity of wheat from Russia in int’l tender
State grain buyer GASC made a near-record wheat purchase from Russia on Tuesday, picking up 530k tonnes in a tender…
Banque du Caire’s IPO postponed to 2021, chairman confirms
IPO WATCH- BdC IPO isn’t happening before 2021, Fayed confirms, while Giza Spinning looks at 2020 listing: State-owned Banque du…
Abdel Wahab as GAFI head renewed until 2021, Fine appoints new Egypt boss
MOVES- Prime Minister Moustafa Madbouly has renewed Mohamed Ahmed Abdel Wahab’s term as the chief executive of the General Authority…
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