Back to the complete issue
Tuesday, 4 September 2018

Your top 5 for August

The five most important business and economy stories out of Egypt in August:

  • Egypt and Cyprus reached an agreement to connect the Aphrodite gas field liquefaction plants in Egypt — a crucial stepping stone towards Egypt’s energy hub ambitions.
  • The fall IPO season began to heat up as CIRA and Sarwa Capital made their intentions to float official.
  • Business conditions in Egypt’s non-oil private sector reached an eight-month high in July, signaling a private sector recovery, according to Emirates NBD’s PMI reading.
  • The CBE nixed amendments to the Income Tax Act that would have given tax inspectors access to corporate bank data.
  • Egypt and China signed cooperation agreements worth an estimated USD 21.9 bn, including the USD 4.4 bn Hamrawein “clean coal” power plant.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.