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VAT revenues to rise by EGP 7-8 bn with rate increase -El Monayer
Raising the value-added (VAT) rate to 14% from 13% in FY 2017-18 should bring in an extra EGP 7-8 bn…
Speed Round
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Second USD 500 mn AfDB loan tranche arrives in two weeks -Amer
The second USD 500 mn tranche of the African Development Bank’s USD 1.5 bn loan to Egypt will be disbursed…
Enppi takes first steps towards listing on the EGX
IPO Watch- The Oil Ministry has greenlit the beginning of the process to offer up to 24% of state-owned oil…
Finance Ministry approves 10% social welfare raise for bureaucrats not under Civil Service Act
Government employees who don’t fall under the Civil Service Act are getting a 10% social welfare raise after the Finance…
TE replaces CEO, gov’t representatives on board of directors
Shake up at Telecom Egypt: Telecom Egypt has appointed Ahmed El Beheiry as its new CEO, the state-owned landline monopoly…
Saudi Arabia slashes tax rates on Aramco, sets income tax rates for other producers
Saudi Arabia issued a royal decree slashing taxes payable by Aramco to 50% from 85%, Bloomberg reports. Aramco currently pays…
Egyptians expected to spend 55% of their monthly budget on food during Ramadan -Ipsos
Survey on Ramadan spending habits: Food is expected to account for the lion’s share of Egyptians’ expenditures during the month…
Francesco Monaco replaces Don Smith as FCA’s CEO
MOVES- Francesco Monaco succeeded Don Smith as CEO of Fiat Chrysler Automobiles Egypt (FCA) on 1 March, according to a…
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