$500m investments in government debt tools, EGX since pound flotation: Deputy Finance Minister
Launch of international bonds to be determined by end of this week; promotion to start in January, says Finance Minister
Ahmed Farahat
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Latest by Ahmed Farahat
Ministry of Finance discusses stabilising dollar rate at customs
Companies that rely on imported materials have been struggling under increased production costs
French investments in Egypt amount to €3.6bn: ambassador
Recently issued economic measures are a positive step to attract new foreign investment
Mahlab calls on French companies to invest in Egypt
Ibrahim Mahlab, the president’s assistant for national projects and former acting prime minister, called on French investors to invest in Egypt on Monday. Mahlab held a speech during a conference organised by the French-language newspaper Al-Ahram Hebdo, in which he said the government has taken a number of steps aimed at reforming Egypt’s business …
Customs on imported cars increase by 66% after flotation
Customs charges on imported cars increased by 66% on Friday following the flotation of the Egyptian pound. This decision was made on Thursday when customs recorded a 52% increase calculated according to the price of the US dollar against the Egyptian pound in the free market, which will be reviewed on a daily basis. The …
The implications of VAT on the automotive sector
In a seminar for Daily News Egypt, leaders in the automotive sector and tax authority were questioned about what the implications of the value-added tax are on the industry
Train of tax reform stops in the middle of the trip
Intense focus on the issues associated with the programme presented to the IMF at the expense of the rest of aspects
Government able to achieve targeted budget deficit: El-Garhy
We have not studied cancelling the tax on treasury bills and bonds yet, but all ideas will be discussed.
Cost of government debt threatens economic reform programmes
The government successfully controls the subsidies and salaries bills, but fails to handle the interest on government debt
Planning Ministry to submit economic plan to parliament in April: deputy minister
Implementing Egypt Vision 2030 is necessary, but not sufficient
Tax dispute law excludes evasion cases: deputy finance minister
Sub-committees will have the power to end disputes, while the ministry will monitor their performance through follow-up reports, says Amr Al-Mounir
Finance Ministry to choose 4 investment banks to offer dollar bonds abroad
Final decisive selection of the list will come today
Deputy finance minister explains steps to reduce FY 2016/2017 deficit, restructure public debt
Cabinet increases electricity prices in accordance with the state budget and we cannot keep the same wage system
Joint ministerial committees to discuss taxes, subsidies, indebtedness auditing: Kouchouk
Decline in world oil prices saved EGP 27bn worth of fuel subsidies in last year’s budget
20 investment banks apply to advise government on offering US dollar-denominated bonds, result to be announced Monday
A senior government source said that 20 investment banks have submitted requests to the Ministry of Finance to act as financial advisors for the governmental offering of US dollar-denominated bonds on international markets. The source said a number of those banks applied earlier for the first offering, including Morgan Stanley, J.P. Morgan & Co., and …
Value of 1st IMF tranche not determined yet: Finance Minister
Value of 1st tranche to be determined during coming 4 to 6 weeks, says minister
Finance Ministry chooses Dechert to offer US dollar bonds abroad
7 global law firms submitted bids, says government source
7 legal offices compete to provide legal consultations for issuing international bonds
A governmental source said that seven Egyptian legal offices applied to act as local legal advisers for the US dollar bonds through the Ministry of Finance. The source added that the same offices applied for the first tender which offered $1.5bn bonds earlier. The most prominent firms in the previous tender were Helmy and Hamza …
Lekela Power to begin construction of Banban plant in October with $90m investments
The company has put forward a competitive tender between five or six international entities
Kaco New Energy targets investments of $ 500m in Egyptian market during 4 years
Kaco has partnerships with Italian and Chinese companies, in addition to Orascom Construction Industries SAE in Banban
Egyptian Customs Authority imposes indicative pricing for Isuzu imports
General Motors Egypt filed a complaint in protest of a discrepancy between the import and sale value of Isuzu cars of $6,000
Customs to exempt European cars of 1,300 CC or less within days
An official at the Ministry of Finance told Daily News Egypt that custom exemptions on European cars with a capacity of 1,300 CC or less will reach 100% in the upcoming days under table four of the agreement, which came into force in 2008.
Customs Authority contacts commercial representation offices to develop a guideline for car prices
28 brands to be revised, including Renault, Peugeot, Hyundai, Kia, Nissan, Mitsubishi, and Suzuki