The amount represents almost six times the preliminary targeted subscription, leading the company to increase the maximum fund’s limit to EGP 500m before the end of the subscription period.
Dependence on aid decreased with easing of precautionaries to confront pandemic, survey shows
One in four Egyptians have altered food habits due to ongoing crisis, says CAPMAS
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
Company’s total portfolio records EGP 6.4bn, average equity recorded 21.4%
Total Portfolio of EGP 6.2bn, Return on Average Equity of 29%
A labor experiment in Germany will see 250 people receive welfare payments with no questions asked for three years. Could it be the first step on the road to a universal basic income?Starting this month, an experiment is taking place across Germany. 250 randomly-selected recipients of Hartz IV, the bottom rate "safety net" German welfare …
Madinet Nasr Housing and Development (MNHD), a leading urban developer in Egypt, achieved a significant increase of consolidated net profit year-over-year (y-o-y) by 165% to reach EGP 274.5m in the second quarter (Q2) of 2018, up from EGP 103.5m in Q2 2017, the company announced on Saturday. MNHD’s revenues witnessed a 61.2% increase y-o-y to …
Mamdouh Raslan, chairperson of the Holding Company for Water & Wastewater (HCWW), told Daily News Egypt that the new water tariff will reduce debts, construct new projects, and implement renovation plans. Egyptian authorities decided to lift the prices of drinking water by up to 46.5%, the official gazette said on Saturday, to be implemented starting …
Minister of Finance Amr El-Garhy approved the decisions of the Egyptian Tax Authority’s higher committee for tax remission to drop 150 financiers’ dues of EGP 2.117m, according to a statement from the Ministry of Finance on Wednesday. The minister said that these decisions come in order to ease the burden of financiers and establish bridges …
The cabinet’s think tank, the Information and Decision Support Centre (IDSC), denied the validity of reports on several websites and social network news pages that the government intends to withdraw ration cards from citizens whose income reaches EGP 2,500 or more. The IDSC explained, in a report clarifying the facts issued on Tuesday, that it …
OC’s BESIX Group contributes greatly to Orascom’s net income
70% of Egyptian households live without secure tenure, says Shawkat
The tax is to be submitted within the current week to the cabinet for approval
One is every three families would be willing to give up their subsidy card, according to a survey conducted by Egyptian Centre for Opinion Research (Baseera) on Saturday. According to Baseera, eight in every 10 Egyptian families has a subsidy card. Lower Egypt has the highest number of subsidy cards, at 89%. Upper Egypt follows …
The current circumstances have made it hard for experts to predict how much money is enough for a small family to live a fair life in Egypt. With the high inflation rate on the rise due to value-added taxation, the majority of Egyptians are unsatisfied with their income which, unlike almost every product or service, …
Absence of budget transparency directly leads to absence of social justice, says NGO
First phase of plan includes Darb Al-Ahmar, Gamaleya and Sayeda Zeinab, says cabinet spokesperson
Ministry of Supply offers food exhibitions to sell products at low prices
Some controversial decisions are still awaiting final cabinet approval to be sent to presidency for ratification
Tourism revenue rose by $5.5bn in three quarters of FY 2014/2015, compared to $3.1bn during the same period of previous year
Egypt targets 20% growth in tourist numbers next winter, 15% next summer
Ministry of Tourism aims to increase sector’s income to $10bn by end of fiscal year 2014/2015, compared to $5.1bn last year
Foreign tourists arrivals not expected to increase during the current year, Chairman of the Egyptian Tourism Federation Elhamy El-Zayat
The Egyptian government expands scope of exceptional tax on wealth to cover companies and corporations rather than just individuals
Amendments made to maximum income law, published in official gazette
The shortage of affordable residential units has created a surge of illegal construction, with a February report saying that some 500,000 units have been built without government consent over the past three years
A brochure distributed by the minister details steps needed when deciding bonus recipients
International foreign reserves fall for the fourth consecutive month
Boraie says decision was made to retain ability of sectors to compete with private sector
