• Wednesday, 16 September 2015

    Here’s proof that parallel universes exist

    Eastern Tobacco won Best Company for IR (Egypt) at the Extel Middle East IR Awards 2015 dinner last night. From the landing page of their (apparently award-worthy) ‘invest relation’ section: “IR officers, on one hand, pay attention to periodically and...
  • Sunday, 6 September 2015

    Dimian laying groundwork for the VAT

    The Mahlab government appears unlikely to enact a new law imposing a value-added tax, but will issue a string of amendments to the tax code. The news came as Finance Minister Hany Dimian released a statement (pdf) that was light on specifics,...
  • Tuesday, 25 August 2015

    Cabinet to give preferential treatment to domestic products in gov’t tenders

    The Cabinet economic group held a meeting on Monday at which Prime Minister Ibrahim Mahlab stressed the need for better coordination and preparation when it comes to policy decisions and announcements. All major economic decisions are to be brought up...
  • Thursday, 20 August 2015

    Statements from Council of Ministers meeting held 20 August 2015

    The Cabinet held its weekly meeting on Wednesday. The agenda looked into healthcare and education, said Prime Minister Mahlab, a refrain that has cropped up in each of the past three cabinet meetings, but with no concrete outcomes. Cabinet also announced...
  • Wednesday, 19 August 2015

    SODIC sees net margin nearly double in 1H2015

    SODIC has delivered a strong set of financial and operating results in the first half of the year, putting us well on track to achieve our targets for 2015. Our projects in East Cairo continue to see strong demand, as...
  • Tuesday, 18 August 2015

    ECA takes action against Oriental Weavers on monopoly charges

    Egyptian Competition Authority (ECA) says it will recommend the prosecution investigate Oriental Weavers for alleged antitrust violations; Counters Has OW 15 Days To Set Things Right . Is Accusing ECA The Oriental Weavers Of Monopolistic Practices Investigations Reportedly Found After...
  • Sunday, 16 August 2015

    How much more expensive can homes in Cairo get?

    ***A MESSAGE FROM SODIC: Much more, according to the minimum accepted bidding price in the latest government auction. Plots of land in New Cairo (35-150 acres) have just been announced at prices crossing the EGP 3,000 per square meter mark, with...
  • Thursday, 16 July 2015

    N Gage Consulting releases export subsidy program report

    Zero clarity on export subsidies: Just two days after Al-Borsa reported what it said was a statement from the Trade and Industry Ministry that export subsidies could nearly double from the EGP 2.6 bn promised in the FY2014-15 budget, Al-Shorouk...
  • Sunday, 12 July 2015

    Euronext-listed AXA Group to acquire 100% of CIL in EGP 763 mn all-cash transaction.

    AXA announced late yesterday that it is acquiring 100% of Commercial International Life Insurance Co. (CIL), the third-largest life and savings insurance player in Egypt with a 15% market share. The selling parties are leading private-sector bank CIB (45% stake)...

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