EGP 157bn increase in tax revenues in FY 2017/2018: Finance Minister
Decrease in budget deficit to reach 9.8% in FY2017/2018 compared to 10.9% in FY 2016/2017
Ahmed Farahat
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Latest by Ahmed Farahat
Floating companies on EGX during Q4 2018: Al Saeed
Minister of Planning, Follow-up, and Administrative Reform Hala Al-Saeed said that the programme of the government IPOs is due to begin in the last quarter of 2018. Al-Saeed said in a press statement on the sidelines of the Egypt Government Excellence Conference held in cooperation with the United Arab Emirates, that there is no delay …
Government is considering implementation of a new mechanism for monitoring distribution of butane cylinders
Gasoline mart card system to be cancelled, after finding defects in application: El-Molla
Egyptian Fertiliser Company borrows $380m, EGP 1.12bn
IFC, EBRD contribute $160m, local banks secure remaining funds
Orascom Construction files request to tax arbitration committee over cement sector deal
Judicial procedures suspended until arbitration completed, sources say
30% of Unionaire Group to be listed on EGX in Q1 2019
KPMG Hazem Hassan restructuring Unionaire Group in coordination with EFG-Hermes
NIB sends Finance Ministry 13 companies to float on EGX: El-Saeed
Hala Al-Saeed, minister of planning and chairperson of the National Investment Bank (NIB), said that several days ago, the bank sent the Ministry of Finance a programme of proposals for the Egyptian Exchange (EGX) of 13 companies belonging to different economic sectors. Finance Minister Amr El-Garhy said in previous statements that the ministry aims to …
58% targeted investments from private sector: Hala Al-Saeed
Minister of Planning, Follow-up, and Administrative Reform Hala Al-Saeed said that her ministry aims to boost private sector contribution in investments to 58% of the total investment, worth EGP 980bn, during the coming fiscal year. According to the minister, the value of private investments for fiscal year 2018/2019 will be about EGP 569bn, with public …
Government raises growth forecast by end-June to 5.4%
Total investments in H1 amounted to EGP 353bn
International law firms attracted by legislative changes in Egypt: Secondari
The Italian law firm BonelliErede recently began operating in Egypt. Its local partner for Egypt is Francesca Secondari, who joined the firm in 2003 and whose expertise is in mergers and acquisitions, banking, corporations, commercial agreements, and real estate transactions. She is in charge of leading BonelliErede’s Cairo office and coordinating its work with the …
Changing energy prices will transform transport sector in Egypt: Kouchouk
We adjusted economic indicators with IMF, inflation will reach 21% by end-June, says Kouchouk
Aim to raise the tax revenue to 19% of GDP by 2022: El-Monayer
We are using deferral of capital gains tax to prepare community to accept it, which will be applied to all companies
Aim to raise EGX market capitalisation to 60% of GDP in 5 years: minister of finance
8 oil, industry, petrochemical, banks public companies will be IPO-ed in 18 months
Planning Ministry considers offering National Investment Bank’s companies on EGX
Ministry plans to restructure state-run newspapers, Egyptian Radio and Television Union over 3 years
CI Capital acquires Reefy for EGP 400m
Baker McKenzie is legal adviser to buyer
EGP 9bn cost of comprehensive health insurance next FY: Moait
Cost of treating one individual within system EGP 1,400, says El-Garhy
Gulf Capital considers investing $110m in Egypt within 2 years
Negotiations to buy a stake of Amiral Holdings Limited worth $30m: Cherif
Internal and external debt within secure limit: Prime Minister
Unemployment rate should be reconsidered, Sherif Ismail says
Government moves to subject sale, purchase of property to tax
Real Estate transactions at EGP 7.8bn in 9 months without tax, according to the ETA
Serious negotiations between MENA Cables and local government companies for acquiring a controlling stake
Sources: The deal is not stalled and will witness positive developments in the coming period
Subsidies, dumping, tariffs, import restrictions on negotiation table between government, WTO
Magdy Makki, director-general of decision support at the Egyptian Customs Authority, said that the procedures of trade facilitation are being discussed with the World Trade Organization (WTO) delegation, as well as Egypt’s offer to facilitate the movement of bilateral trade. He added that during the meeting, facilitation was discussed in relation to the interest and …
Alhokair, Edita exit TBS acquisition deal
We are preparing to end the deal within two weeks, buyer acquires a partial share, according to sources
JTI to continue supplying market with no increase in prices
Khaled Ismail, the director of external relations at Japan Tobacco International (JTI), said the company will continue supplying the market with all its products without any increases in prices. He pointed out that JTI will only increase the price of its products if the government increases the tax on cigarettes. The Eastern Tobacco company raised …
Bond yields in emerging markets rise in anticipation of Fed decision
In May, there was an Increase in the interest on Egyptian bonds by 20 basis points in average terms
Baker McKenzie, Matouk Bassiouny, Zulficar, Zaky Hashem compete to provide legal consultation for ENPPI’s IPO
The IPO procedures allow lawyers to present their bids for the competing investment banks
No increase in prices of cigarettes and oils after increasing VAT to 14%: El Monayer
Increasing VAT by 1% will have limited impact, 57 categories of goods and services to remain exempted
Egypt’s GDP reaches EGP 2.5tn in 9 months of FY 2016/2017
Tourism sector grows by 80% while consumption contribution declined to 3%
Finance Ministry plans to expand tax segments on cigarettes to more than EGP 30
A trend to impose EGP 1.125 on luxurious and medium cigarettes
JTI asks to expand tax segments, instead of overall increase
Bulk of production inputs are imported from abroad: Ismail
Finance Ministry considers increasing cigarette prices by EGP 0.5-2
We have submitted a proposal to increase the tax on imported hookah tobacco by 175% next fiscal year, says Imbaby