Financial-Services News
-
Egyptian brokerage firms aim to expand in Gulf markets
The Gulf Cooperation Council markets accounted for 21% of global subscriptions in 2022, compared to only 2% in 2021.
-
What will happen to Egypt’s debt if US dollar hits LE38?
Egypt’s foreign debt increased by 5.2 percent during the last quarter of last year to reach US$162.9 billion at the end of December.
-
Egypt, Guinea Consider Signing MoC to Prevent Double Taxation, Boost Customs Facilities
This came during a bilateral meeting between the minister and the Guinean Minister of Economy, Finance and Planning Moussa Cissé.
-
Thinking of Investing in Egypt? A New Portal for Investors Now Launched
The portal provides a variety of resources and services for investors, and that they are granted access to monthly investment opportunities.
-
Egypt to announce state’s tax policies document within 3 months
Minister of Finance Mohamed Maait has already mandated an international consultancy office to set the document, Madbouly added.
-
Egypt Approves Agreement to Eliminate Double Taxation with Qatar
The application of the agreement in Qatar on income tax and corporate tax includes the “Qatari tax”.
-
President Sisi orders increasing social protection budget to LE 529.7B
He added that LE 8 billion were allocated for the treatment of citizens at the state’s expense at an annual growth rate of 14.3%.
-
Misr Technology Services to be offered on EGX in 2024
Misr Technology Services (MTS) will be one of the companies to be offeMTS is the technical arm of the Minred on the Egyptian Exchange (EGX) next year.
-
Cabinet approves Egypt’s 2023/24 budget
Minister of Finance Mohamed Maait said that the target growth in the budget was 4.1%.
-
CBE reports EGP 112.7 billion in InstaPay transactions over one year
The Central Bank of Egypt (CBE) has announced that transactions worth EGP 112.7 billion were conducted via its InstaPay app over a year.
-
Value of microfinance in Egypt grows by 7.9% in 2022
Zulfaqar equally highlighted that the client base expanded by 10 percent to consist of a total of 4.7 million.
-
Egypt amends its rules on VAT for non-resident suppliers in e-commerce transactions
The electronic distribution platform is conditionally not responsible for collecting taxes and remitting them to the Egyptian Tax Authority (ETA).
-
Sisi Directs Gov't to Increases Income Tax Exemption Limit to EGP 36,000 Annually
The income tax exemption limit to increase to EGP 36,000 annually instead of EGP 24,000.
-
Egypt considers addition of eight state-owned companies to its IPO programme: Finance minister
Maait made the announcement during his participation in the Financial Sector Conference in Riyadh, the capital of Saudi Arabia.
-
Egypt: Mopco achieves $234mln consolidated profits in 2022
In the first nine months of 2022, Mopco generated $163mln in consolidated net profit.
-
Mastercard reinforces commitment to Egypt with new leadership appointment
Inji Borai appointed as Vice President and Country Manager for Mastercard Egypt.
-
After HoggPool incident, Egypt's Central Bank issues warning about electronic platforms
The HoggPool platform, launched in August 2022, withdrew millions of pounds from hundreds of users in exchange for a daily profit.
-
Africa Finance Corporation announces Egypt as first North African shareholder
Egypt joined the Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, as the first North African shareholder.
-
Crypto scam in Egypt defrauds thousands of investors of $620K
Authorities have arrested 29 people, including 13 foreign citizens, in connection with the fraudulent network known as "HoggPool."
-
Taxes raise Egypt's revenues to LE 572.55B in 6 months
The monthly report of the Ministry of Finance indicated that Egypt's revenues rose to LE 572.55 billion during the period from July to December.