Business
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Economy
5/28/2023 1:02:03 PM
France is in "very close talks" with debt rating agency Standard and Poor's, Prime Minister Elisabeth Borne said Sunday, after a downgrade from rival Fitch reignited government finance concerns in the EU's second-largest economy.
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Business
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Economy
5/25/2023 4:58:56 PM
Qatar is committed to injecting $5 billion of investments into the Egyptian economy as was promised last year, Qatari Minister of Finance Ali Al-Kuwari stated on Wednesday at the Qatar Economic Forum.
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Business
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Economy
5/24/2023 6:41:10 PM
Egypt is seeking concessional loans from regional and international development partners to ensure sustainable spending on healthcare, education and food security programs, Minister of Finance Mohamed Maait said on Wednesday.
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Business
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Economy
5/24/2023 5:21:29 PM
Minister of Finance Mohamed Maait assured Egyptian expatriates that the delay in their transfer of imported car fees will not make them ineligible for the duty-free initiative, read a statement on Wednesday.
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Business
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Economy
5/18/2023 9:18:51 PM
The second edition of the “Five Regional Roundtables” aims to secure financing for climate projects presented during the first edition, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda Mahmoud Mohieldin stated on Wednesday.
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Advertising
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Sponsored
5/18/2023 5:29:00 PM
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Business
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Economy
5/18/2023 3:40:48 PM
Egypt has amended the Value Added Tax (VAT) Law to facilitate procedures for waiving VAT taxes on machines and equipment imported for production, according to a statement by the Ministry of Finance on Thursday.
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Business
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Economy
5/17/2023 4:07:22 PM
The European Bank for Reconstruction and Development (EBRD), the EU and emerging-market asset manager ILX Management announced Wednesday a new partnership aiming to enhance private-sector finance in the EBRD’s regions, including the southern and eastern Mediterranean where Egypt is located.
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World
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War in Ukraine
5/16/2023 9:32:09 PM
Some 1.2 billion euros ($1.3 billion) in Russian-owned assets managed by Cyprus-registered companies were frozen in compliance with sanctions imposed on Russia following its invasion of Ukraine, Cyprus' Finance Ministry said Tuesday.
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Business
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Economy
5/16/2023 7:05:34 PM
Egypt’s Financial Regulatory Authority (FRA) increased the maximum financing limit for microenterprises by 10 percent up from EGP 200,000 ($6,465) to EGP 220,000 (around $7,112), the authority announced on Monday.
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Business
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Markets & Companies
5/14/2023 1:08:38 PM
The Ministry of Finance on Sunday announced the sale of a 10 percent stake in Telecom Egypt, as part of the government’s privatisation programme.
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World
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International
5/13/2023 9:50:23 AM
The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group said Saturday following finance talks in Japan ahead of a major summit next week.
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Business
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Economy
5/12/2023 4:21:56 PM
Egypt's Minister of Finance Mohamed Maait was in the hot seat on Wednesday and Thursday to respond to attacks he faced from MPs on what what they perceived as an "alarming increase in debt service costs and a widening of the budget deficit."
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World
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War in Ukraine
5/11/2023 3:44:56 PM
Support for war-torn Ukraine topped the agenda at G7 finance talks on Thursday in Japan, where ministers and central bankers also weighed concerns ranging from banking uncertainty to US debt default fears.
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Business
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Economy
5/11/2023 10:20:19 AM
Political brinkmanship over raising the US debt ceiling risks "serious economic costs" even without the "catastrophe" of a default, Treasury Secretary Janet Yellen warned Thursday at G7 finance talks in Japan.
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Business
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Economy
5/11/2023 12:01:44 AM
The Egyptian government approved a draft decree during its weekly meeting on Wednesday exempting travellers who bring gold from customs duties and other fees -- except value-added tax (VAT) -- for a period of six months.
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Egypt
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Politics
5/9/2023 9:36:40 PM
Minister of Finance Mohamed Maait and Minister of Planning and Economic Development Hala El-Said delivered two statements on Tuesday before parliament on the draft FY2023/24 budget and development plan.
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Business
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Economy
5/9/2023 3:16:58 PM
Egypt’s government has increased its budget deficit estimate to 6.9 percent of GDP for the fiscal year (FY) 2023/2024, which starts on 1 July, compared to an earlier estimate of 6.3 percent, Minister of Finance Mohamed Maait stated in front of the House of Representatives on Tuesday.
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Egypt
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Politics
5/8/2023 6:25:25 PM
Egypt’s Finance Minister Mohamed Maait and Planning and Economic Development Minister Hala El-Said will deliver Tuesday two statements in parliament on the draft FY 2023/24 budget and socioeconomic development plan.
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Business
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Economy
5/8/2023 4:12:13 PM
The Egyptian government is set to make its decision by Wednesday whether to allow citizens returning to the country to bring up to 150 grams of gold duty-free, Minister of Finance Mohamed Maait said on the Al Hekaya Ma Amr Adib TV show Sunday.
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