Business - Markets & Companies

Ministry to settle tax disputes out of court: Egypt's finance minister

Egypt's finance ministry will fast-track the resolution of tax disputes out of court in a way that contributes to creating a suitable environment for business and encourages investors to expand their activities in the Egyptian market, Finance Minister Mohamed Maait told Omani Ambassador to Egypt Abdullah Al-Rahbi.

INTERVIEW: “Egypt is strategic market for BAT:” Area director

The British American Tobacco company (BAT) is in discussions with Egypt to obtain a license to manufacture tobacco and related products for the Egyptian market, according to BAT’s Area Director for Turkey, Caucuses & North Africa Gokhan Bilgic. During his visit to Egypt last week, Ahram Online interviewed Bilgic to discuss updates on the licensing process, the main results of his visit and the company's future plans in the Egyptian market.

Cabinet announces incentive package aiming to boost EGX

Egypt’s cabinet announced on Wednesday a package of incentivising procedures with an objective of boosting the Egyptian Exchange (EGX) and enhancing the climate of investment in the capital market.

Vodafone accepts Vodacom’s offer to acquire its 55% stake in Egypt

Vodafone Group accepted on Wednesday an offer submitted by its South African Subsidiary Vodacom to acquire the group’s stake in Vodafone Egypt, comprising 55 percent of the company, the group announced.

Ezz Elarab Automotive Group hosts contemporary art exhibition at Volvo Gallery

Ezz Elarab Automotive Group, the sole importer of Volvo in Egypt, hosted a Fine Arts Exhibition for more than two weeks at its recently launched Volvo Gallery in collaboration with ‘ArtTalks.’

Egypt's Ministry of Transport, El-Sewedi, Deutsche Bahn sign MoU to upgrade railway safety

Egypt’s Ministry of Transport – represented by the National Railway Authority – El-Sewedi Electric and Germany's Deutsche Bahn have signed a memorandum of understanding (MoU) to improve the efficiency, quality and safety of Egypt’s railways.

Egypt plans to liquidate five losing state-owned companies; to announce names by December: Minister

Egypt plans to liquidate five state-owned companies “in the near future” after all efforts to end their losses have failed, and will announce the names in December, Minister of the Public Business Sector Hisham Tawfik revealed on Tuesday.

EIB, AllianzGI launch fund to support climate action in emerging markets

The European Investment Bank (EIB) and Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers have launched the Emerging Market Climate Action Fund (EMCAF) in a public and private partnership with the Governments of Germany and Luxembourg.

Egypt’s education ministry launches online platform for public school fee payment

Egypt’s Ministry of Education launched on Sunday an electronic payment service for public school fees across Egypt in collaboration with the state-owned e-finance, and the payment management and digital collection platform, KlickIt.

US 'black lists' Israeli maker of Pegasus spyware

US authorities on Wednesday put the Israeli maker of the Pegasus spyware on a list of restricted companies, taking aim at software central to a scandal over surveillance of journalists and officials.

ExpandCart, PayPal collaborate to provide more payments options in MENA region

ExpandCart and PayPal have announced that they are collaborating to help expand payment options for merchants in the Middle East and North Africa (MENA) region, where PayPal will provide digital payment services for merchants who are using the ExpandCart platform to sell their products.

Egypt to impose income tax on online teaching, private tutoring centres

The Egyptian Tax Authority (ETA) on Wednesday called on owners of private tutoring centres and online teachers to open a tax record within a month so that their income could be taxed.

Bourse reacts positively to revoking state of emergency, gains EGP 10 bln

The Egyptian Exchange (EGX) on Tuesday reacted positively to President Abdel-Fattah El-Sisi's decision on lifting the state of emergency, with all its indices up in the morning transactions amid strong purchase operations by investors especially the major and leading indexes.

Tesla tops $1 tln in market value as Hertz deal fuels latest surge

Tesla became the latest US tech giant to hit $1 trillion in market value Monday as investors cheered a large order from Hertz and shrugged off criticism from a US auto safety official.

5G, AI, cloud technologies crucial to growth in the Middle East, improving people’s lives: Huawei

Technologies such as 5G, the cloud, and artificial intelligence (AI) will greatly benefit the Middle East in expanding the digital economy and improving the quality of people's lives, said Steven Yi, the recently appointed President of Huawei Middle East and Africa.

Emirati prosecutors investigating Dubai's Union Properties

Federal prosecutors in the United Arab Emirates said Sunday they've launched a major investigation into Dubai-based real estate developer Union Properties.

Up to 6 IPOs of Egyptian state companies to be launched in current FY: Minister

Egypt is planning on listing five or six state-affiliated companies on the stock exchange in the current fiscal year under the country's recently resumed initial public offering (IPO) programme, Finance Minister Mohamed Maait said.

Egypt bourse raises temporary suspension limit for EGX100 index to 10%

Egypt's Stock Exchange adjusted the temporary trading suspension limit on the market when the EGX100 index fell by 10% instead of 5%, a statement by the bourse said on Wednesday.

Egypt bourse gains EGP 6.1 billion

Egyptian Exchange (EGX) indexes posted collective gains at the close of Monday's trading session driven by optimism over the public offering subscription of e-finance for financial and digital investments.

Egypt’s universal health insurance system to provide quality healthcare: Al-Ahram’s Pharmaceutical Conference

On the second day of the Al-Ahram Pharmaceutical Conference (APHC), held in its second edition in Cairo on 16-17 October, the participants agreed that the universal health insurance system is the umbrella that will grant Egyptians access to quality healthcare and safe and effective medicines.

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