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Finance Ministry amends VAT on sales of used cars
The Finance Ministry issued a decree last Tuesday amending how the value-added tax impacts the sale of used cars, El…
Speed Round
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United Pharma IV, ACDIMA merger falls apart
M&A WATCH- United Pharma IV, ACDIMA merger falls apart: United Pharma IV rejected ACDIMA’s offer to acquire it for EGP…
Ministerial committee resolves TAQA Arabia dispute with EGAS
The Ministerial Committee for Settlement of Investment Disputes announced a settlement has been reached in a dispute between Qalaa Holdings…
Germany’s BSH looking to establish EUR 80 mn home appliances factory in Egypt
INVESTMENT WATCH- Germany’s BSH looking to establish EUR 80 mn home appliances factory: Germany’s Bosch und Siemens Hausgeräte (BSH) is…
Banque Misr in talks to borrow USD 650 mn
Banque Misr is in “advanced talks” with international lenders to secure USD 650 mn in funding, Chairman Mohamed El Etreby…
Egypt’s trade deficit fell 25% y-o-y in 2017
Egypt’s trade deficit fell 25% y-o-y in 2017 thanks to falling imports and rising exports, Trade and Industry Minister Tarek…
Egypt to stop importing LNG as early as July
Turning now to business news: Egypt could stop importing LNG as early as July, well ahead of its previous schedule,…
What happened to Hisham Genena?
What happened to Hisham Genena? Former Central Auditing Organization head Hisham Genena, who was a top official in former Chief…
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