Latest in Tag: finance minister Highlight
Latest in Tag: finance minister
US-led strikes kill ‘IS finance minister’ al-Qaduli
The “finance minister” for the “Islamic State” (IS) Mustafa Al-Qaduli has been killed, US secretary of defence Ashton Carter said.
Egypt to take part in G20 summit in Shanghai
Egypt will actively participate in discussions and endeavours conducted in G20 summit
UK pledges billions for nuclear plant
The British Chancellor has announced billions in government backing for the controversial Hinkley Point nuclear station. The announcement came during a trip to China, during which he sought to court Asian investors. British finance minister George Osborne on Monday sought to win over foreign investors, as he pledged ÂŁ2 billion (2.75 billion euros, $3.11 billion) …
Dimian reassesses his new plan
The minister’s statements did not address any change in the tax plan
Egypt to introduce sukuk, revisit international capital market soon: Finance Minister
Parliamentary elections will be another milestone towards economic reform, says Hany Kadry Dimian
Kenya Airways ‘may require $500 million bailout’
Kenya Airways, the East African nation’s national carrier, ran into severe head winds last week reporting a record loss. The finance minister now says the airline may need a half a billion dollar bailout. Kenya Airways said its pre-tax loss had grown from 4.86 billion Kenyan shillings ($48 million) to 29.71 billion shillings ($293 million) …
UK begins selling shares in RBS
The British government has begun selling its shares in the bailed-out Royal Bank of Scotland, seven years after it acquired a majority stake in the embattled financial institute at the height of the financial crisis. The Treasury said Tuesday it had sold 630 million shares, representing 5.4 percent of the bank, for 2.1 billion pounds …
Government raises allocations of low-income housing by 19%: Finance Minister
Ministry of Housing plans to allocate 20% of the loan to fund housing unit rents
Financial policies most powerful tools to enhance Egyptians’ lives: Finance minister
The government has a clear plan to implement the 22% tax upon new tax returns, says Hany Kadry Dimian
Moody’s expects Egypt economy to grow 4.5% by June 2015: Finance Minister
Non-banking financial activities witnessed significant growth last year, 2015 indicators are promising, says Mehleb
Egypt’s finance ministry in quest to amend outdated customs law
Dimian said the current law clashes with articles of the Kyoto Protocol, which aimed to facilitate customs procedures.
Income tax unified at maximum 22.5%: Finance minister
The minister unifies income tax for 10 years days before economic summit
EGP 1.7bn cash repayments for goods, bread supply systems: Finance minister
EGP 341m to supply gas to homes, EGP 371m for Radio and Television Union, drinking water, textiles
60 local, international entities to review new investment law: Minister
Current draft not final, may be subject to revision based on ongoing consultations with business community, Ashraf says
Egypt to issue bonds on international markets after higher credit ranking: Cabinet
Lowering dues of foreign oil companies, amending investment laws and resolving conflicts boost business sector’s trust
International bonds issued in all markets, country minus guarantor: Dimian
Government received offers from abroad to finance Suez Canal project but opted to finance it domestically, say finance minster
Growth rate rises with 6.8% in first quarter alongside IMF visit
El-Araby expects positive IMF report mid-January following recent package of economic reforms
Major payment issues hinder real estate taxation: Finance minister
World Bank grants $200m to develop health issues, while energy efficiency increases through investments
Encouraging signs for Egypt’s economy
By Oxford Business Group After years of uncertainty and turbulence, Egypt’s economy is beginning to show some signs of recovery, with a marked rise in business confidence helping to strengthen indicators in both capital markets and the broader economy. Emerging signs of growth are welcome not only for investors, but also for the government, following …
EBRD provides $30m to NBE for small business development
Loan follows $50m provided in December 2013
Euromoney Conference: EGP 750m funding target by Tanmeyah to finance SMEs: Company president
Tanmeyah aims to bring loan to small and medium enterprises by end of 2014 through new loans issuance ranging from EGP 30,000 to EGP 200,000
Government looks to restore confidence in economy: Finance minister
Hopes to restore confidence in Egypt’s economy through tax legislation, reducing budget deficit
Second phase fuel smart-card distribution to save EGP40bn: Former petroleum minister
The government has so far distributed 2.6m out of the targeted 4.5m smart cards, said Tareq Al-Mula, chairman of the Egyptian General Petroleum Company (EGPC).
Ministerial meeting upcoming to resolve property tax crisis on hotels: Tourism ministry official
Finance and tourism ministers to meet this month to resolve dispute between Real Estate Taxation Authority (RTA) and Chamber of Hotels over property tax law
Rumours of IMF negotiations untrue: Finance Minister
An IMF delegation will visit Egypt before the end of 2014, minister adds
Egypt sees deficit at 14-14.5% of GDP next fiscal year if no reforms implemented
Reuters – The Egyptian government sees its budget deficit, if it does not implement reforms, running at 14-14.5% of gross domestic product in the fiscal year starting on July 1, Finance Minister Hany Kadry Dimian said on Sunday, above a target of 10-10.5% he gave in March. Egypt’s economy has suffered from more than three …
Egypt energy subsidy bill to rise by 10-12% next year: Minister
Reuters – Egypt’s Finance Minister said on Sunday spending on energy subsidies next year will be 10-12% above the EGP 130bn ($18.66bn) budgeted for the current fiscal year, unless immediate reforms are made. Successive governments have stressed the importance of reducing energy subsidies, which account for more than 20% of state spending, but none have …
Stimulus package almost ready
Government aims to reassure that Egypt safe for investors
Prime Minister inaugurates Egyptian-Gulf Investment Forum
El-Beblawi said that economic progress cannot be achieved unless security, political stability and futuristic economic vision prevailed.
Ministers and investors confirmed for the Euromoney Egypt Conference
“Despite the road being long, there does appear to be a shared vision of where both the government and direct foreign investors want to be – and that is moving forward,” said Richard Banks, Regional Director of the Euromoney Conference.