{"id":586481,"date":"2023-05-11T00:00:00","date_gmt":"2023-05-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/11\/this-evening-no-weight-limit-on-customs-exemption-for-gold-imports-ashmawy-says\/"},"modified":"2023-05-11T00:00:00","modified_gmt":"2023-05-11T00:00:00","slug":"this-evening-no-weight-limit-on-customs-exemption-for-gold-imports-ashmawy-says","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/11\/this-evening-no-weight-limit-on-customs-exemption-for-gold-imports-ashmawy-says\/","title":{"rendered":"THIS EVENING: No weight limit on customs exemption for gold imports, Ashmawy says"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Happy THURSDAY, friends.<\/span><span style=\"\"> We\u2019re just about ready to jump into the weekend after what has<\/span><span style=\"font-weight:400;\"> been a surprisingly busy week. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/606.jpg?ssl=1\"\/><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re only four days <\/span><span style=\"font-weight:700\">away from meeting with some of you at the Enterprise Exports and <\/span><span style=\"font-weight:700\">FDI Forum,<\/span><span> taking place at the Four Seasons at the Nile Plaza on<\/span><span style=\"font-weight:700;\"> Monday, 15 May. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re proud to announce that our friend <\/span><span style=\"font-weight:700\">Nada El Ahwal<\/span><span style=\"font-weight:700\">, CSO at Transmar, is joining us for the forum. Are you?<\/span><span> Nada El Ahwal is going to be speaking on how industrial clusters can be better leveraged to raise our exports. She is joined on stage for that discussion by <\/span><span style=\"font-weight:700\">Shady William<\/span><span>, managing director at IDG, and <\/span><span style=\"font-weight:700\">Mohamed ElGebely<\/span><span style=\"font-weight:400;\">, team leader at USAID Trade, to discuss how industrial clusters can be used to better the quality of our exports and become a platform for SMEs to become part of our export-led growth.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Who else is speaking<\/span><span style=\"font-weight:700\">?<\/span><span> Among the CEOs, top execs, bankers, and development finance folks speaking at the conference are (in no particular order): <\/span><span style=\"font-weight:700\">Mohamed Talaat Khalifa, <\/span><span>CEO of Concrete; <\/span><span style=\"font-weight:700\">Hossam Abou Moussa<\/span><span>, partner at Apis; <\/span><span style=\"font-weight:700\">Hassan Massoud<\/span><span>, associate director and head of private equity (Southern Mediterranean) at EBRD; <\/span><span style=\"font-weight:700\">Tarek Hosny<\/span><span>, head of investments and projects at Fertiglobe; <\/span><span style=\"font-weight:700\">Mark Wyllie<\/span><span>, CEO of Beyti; <\/span><span style=\"font-weight:700\">Kareem Abou Ghali<\/span><span>, chairman and CEO of Pasta Regina; <\/span><span style=\"font-weight:700\">Hossam Sallab<\/span><span>, CEO and vice-chairman of Sallab Group and Royal Ceramica; <\/span><span style=\"font-weight:700\">Tarek Kamel<\/span><span>, CEO at Nestle Egypt; <\/span><span style=\"font-weight:700\">Omar Elsahy<\/span><span>, general manager of Amazon Egypt; <\/span><span style=\"font-weight:700\">Yasmine Khamis<\/span><span>, chair of the Orientals Group, <\/span><span style=\"font-weight:700\">Cheick-Oumar Sylla<\/span><span>, director for North Africa and Horn of Africa at IFC; <\/span><span style=\"font-weight:700\">Helmy Ghazi, <\/span><span>deputy CEO of HSBC Egypt; <\/span><span style=\"font-weight:700\">Khaled Morsy<\/span><span>, CEO at DB Schenker; <\/span><span style=\"font-weight:700\">Nadia El-Tawil<\/span><span>, investment officer at AfricInvest; <\/span><span style=\"font-weight:700\">Shams Eweis,<\/span><span> corporate affairs director, Egypt, North Africa and Levant at Mars; <\/span><span style=\"font-weight:700\">Mostafa Bedeir<\/span><span>, CEO of Giza Seeds and Herbs; <\/span><span style=\"font-weight:700\">Abdallah Sallam<\/span><span>, CEO of Madinet Masr; and <\/span><span style=\"font-weight:700\">Yassir Zouaoui<\/span><span style=\"font-weight:400;\">, partner at McKinsey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Topics and live interviews will include:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Why exports and FDI are the way forward and what lessons have worked from around the world;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to attract foreign partners and figure out what they are looking for;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What lessons can we draw from white goods, fertilizers, and garments exporters who have increased our exports;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What are the fundamentals to creating an export and \/ or FDI strategy;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What it takes to secure a place in a multinational\u2019s supply chain.<\/span><\/li>\n<li><span style=\"font-weight:400;\">How Egypt\u2019s industries need to be open to evolution to become more competitive.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/index.html#agenda\" style=\"\">Tap or click here to explore the full agenda.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\"><br \/>** Have you confirmed your attendance?<\/span><span style=\"font-weight:400;\"> Invitations have been sent out over the past few weeks. If you have yet to confirm your attendance and would still like to join us, please reply to the invitation with an RSVP.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Gold customs exemption isn\u2019t going to have a weight limit:<\/span><span style=\"\"> A decision that<\/span><span> allows Egyptians living abroad to import gold to Egypt without paying customs duties for a six-month period will not be limited to gold imports below a certain weight, Assistant Supply Minister Ibrahim Ashmawy told reporters, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3pmE87i\" style=\"\">Hapi Journal<\/a><\/span><span>. Imports of gold coins or ounces also will not be subject to VAT, Ashmawy said, noting that the tax will only be imposed on gold with craftwork. Ashmawy\u2019s statements come after the Madbouly Cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2035bc0-eabe-475f-872b-d3e06dc2ca2b\" style=\"\">signed off on the decision yesterday<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s a relatively mixed bag of nuts and bolts in the international business press this<\/span><span style=\"font-weight:700\"> afternoon<\/span><span>, but SoftBank posting a record USD 39 bn loss in its Vision fund is making the rounds. Despite the widening loss in the tech-heavy segment, Softbank narrowed its overall losses after selling down its stake in Alibaba. The story is getting attention this afternoon from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/finance\/softbank-posts-718-bln-annual-net-loss-2023-05-11\/\" style=\"\">Reuters<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/11\/softbank-full-year-2022-earnings-vision-fund-posts-32-billion-loss.html\" style=\"\">CNBC<\/a><\/span><span>, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/softbank-trims-overall-loss-after-topsy-turvy-fiscal-year-9a07237c?mod=lead_feature_below_a_pos1\" style=\"\">Wall Street Journal<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/1dd470c2-be80-4887-83cc-87be93100a12\" style=\"\">the Financial Times<\/a><\/span><span>. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">TE stake sale to start this week?<\/span><span> Government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d096a543-2634-4380-a12e-4d9beabd43f3\" style=\"\">plans to sell<\/a><\/span><span style=\"font-weight:400;\"> a minority stake in Telecom Egypt to investors look to be back on the table.<\/span><\/li>\n<li><span style=\"font-weight:700\">Wind farms attract investor interest:<\/span><span> Saudi Arabia\u2019s ACWA Power, the UAE\u2019s Alcazar Energy and our friends at local renewables firm Infinity are reportedly among seven companies <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/860a3d68-680c-4178-8525-c01faa6818b8\" style=\"\">interested in acquiring<\/a><\/span><span style=\"font-weight:400;\"> Egypt\u2019s two largest wind farms.<\/span><\/li>\n<li><span style=\"font-weight:700\">Inflation <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8b89cdc-cf1e-4a57-bcf6-75cf185240d0\" style=\"\">eased for the first time<\/a><\/span><span style=\"font-weight:700\"> in 10 months in April <\/span><span style=\"font-weight:400;\">thanks to a favorable base effect, the stabilization of the EGP-USD exchange rate, and a slight slowdown in food price growth.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO START A CAREER IN INVESTOR RELATIONS ADVISORY?<\/span><span style=\"font-weight:400;\">Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NEVER WORKED IN INVESTOR RELATIONS OR ADVISORY BEFORE?<\/span><span style=\"\"> We have the<\/span><span style=\"font-weight:400;\"> Enterprise Advisory Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran investor relations and advisory professionals, while also applying their knowledge in a practical setting. Those who successfully complete the program will be offered full-time positions on staff for a chance to work in a flexible and supportive \u2014 but still fast-paced \u2014 work environment that eschews micromanagement and rewards good work. Enterprise Advisory offers the chance to build a network of high-ranking individuals across some of the largest and most influential companies in the region through direct exposure to clients.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">During the program, you\u2019ll learn:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Finance for non-finance people;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to analyze businesses, their business models, their strategic advantages, and their strategies;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to take that information and then tell an audience of investors, journalists, and analysts a compelling and well-developed story;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to frame individual companies\u2019 stories within the wider macroeconomic environment.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Career switchers are very welcome.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Apply directly to jobs@enterprisemea.com and mention \u201cadvisory development<\/span><span style=\"font-weight:700\"> program\u201d<\/span><span> in your subject line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">The weekend is set to be pleasantly warm and sunny, bringing<\/span><span> us daytime highs of 32<\/span><span style=\"font-weight:400;\">\u00b0C tomorrow and Saturday, with nighttime lows of 16\u00b0C on both days, our favorite weather app suggests. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy THURSDAY, friends. We\u2019re just about ready to jump into the weekend after what has been a surprisingly busy week. We\u2019re only four days away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place at the Four Seasons at the Nile Plaza on Monday, 15 May. We\u2019re proud to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":586482,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[317,633,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-commodities","tag-enterprisepm","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"5a72df33-710b-4d9a-ac7e-bc31456988d1","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/7\/125.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[586479],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.f906ce62-23c7-4523-9f25-8b668e669eef.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: No weight limit on customs exemption for gold imports, Ashmawy says - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/11\/this-evening-no-weight-limit-on-customs-exemption-for-gold-imports-ashmawy-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: No weight limit on customs exemption for gold imports, Ashmawy says\" \/>\n<meta property=\"og:description\" content=\"Happy THURSDAY, friends. We\u2019re just about ready to jump into the weekend after what has been a surprisingly busy week. We\u2019re only four days away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place at the Four Seasons at the Nile Plaza on Monday, 15 May. 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