{"id":580118,"date":"2022-12-08T13:20:16","date_gmt":"2022-12-08T13:20:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/this-evening-inflation-hits-five-year-high-ezz-el-arab-tapped-as-cibs-non-executive-chairman-finmin-extends-e-invoicing-registration-deadline-for-the-self-employed\/"},"modified":"2022-12-08T13:20:16","modified_gmt":"2022-12-08T13:20:16","slug":"this-evening-inflation-hits-five-year-high-ezz-el-arab-tapped-as-cibs-non-executive-chairman-finmin-extends-e-invoicing-registration-deadline-for-the-self-employed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/this-evening-inflation-hits-five-year-high-ezz-el-arab-tapped-as-cibs-non-executive-chairman-finmin-extends-e-invoicing-registration-deadline-for-the-self-employed\/","title":{"rendered":"THIS EVENING: Inflation hits five-year high + Ezz El Arab tapped as CIB\u2019s non-executive chairman + FinMin extends e-invoicing registration deadline for the self-employed"},"content":{"rendered":"

Good afternoon, friends.<\/strong> We\u2019ve made it to the weekend after a whirlwind week for us here at Enterprise \u2014 and a particularly busy and interesting news week for Omm El Donia at large.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> #1- Deval drives inflation to five-year high:<\/strong> Urban annual inflation accelerated to 18.7% in November, up from 16.2% in October, according to figures<\/a> from state statistics agency Capmas. November\u2019s inflation figures are the highest in nearly five years, driven primarily by rising food and beverage prices.<\/p>\n

#2- Our friend Hisham Ezz El Arab is now non-executive chairman at CIB<\/strong>, after the bank\u2019s board of directors appointed him to the position with the Central Bank of Egypt\u2019s blessing, according to a disclosure (pdf)<\/a> to the bourse. Ezz El Arab takes over the position from Sherif Samy, who held the position since October 2020<\/a>. Samy will remain on the bank\u2019s board as a non-executive member.<\/p>\n

#3- FinMin extends e-invoicing registration deadline for the self-employed:<\/strong> Self-employed individuals \u2014 including doctors, pharmacists, and lawyers \u2014 now have until 30 April, 2023 to register with the Tax Authority\u2019s e-invoicing system, after the Finance Ministry extended the deadline from next Thursday, 15 December, according to a statement<\/a>. The ministry pushed the cut-off date to help the self-employed get their ducks in a row, while the ministry sets up a committee to address problems they may face, the statement says.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

We have a thoroughly mixed bag of nuts and bolts in the international business press<\/strong> this afternoon.<\/strong> The Financial Times<\/a> is leading its front page with the immediate effect of China rolling back its covid-zero policies \u2014 including the country swiftly running out of covid-19 medication as the virus spreads, while CNBC<\/a> looks at what\u2019s in store for Europe\u2019s energy grid as temperatures begin to drop significantly over the next few days and the continent continues to struggle with an energy shortage. Elsewhere, the latest updates on the ground in the Russia-Ukraine war are getting prominence in Reuters<\/a>.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

President Abdel Fattah El Sisi landed in Riyadh to attend the China-Arab States Summit<\/strong>, according to an Ittihadiya statement<\/a>. The summit, which kicks off tomorrow, will coincide with Chinese President Xi Jinping\u2019s visit to the kingdom.<\/p>\n

The first session of the cabinet\u2019s Information and Decision Support Center\u2019s (IDSC) <\/strong>new intellectual forum is underway.<\/strong> The weekly forum will see experts including government officials, academics, representatives of multilateral institutions, MPs, and national dialogue members meet to discuss key policy questions and make recommendations on them to the prime minister, according to a statement<\/a><\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n