Business - Markets & Companies

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.

Al-Ahram Pharmaceutical Conference discusses localising drug industry in Egypt

The second round of Al-Ahram Pharmaceutical Conference (APC) opened on Saturday to discuss means to localise the drug industry in Egypt and provide practical solutions to the sector's problems.

Egypt’s state-owned e-finance announces final share price ahead of Monday public offering

Egypt's state-owned company e-finance For Digital and Financial Investments announced a final price of EGP 13.98 for each share that will go public on Monday under the government’s initial public offering (IPO).

Emerging markets expected to experience capital, FDI outflows over near term amid pandemic: IMF

Emerging markets are expected to witness capital and foreign direct investment (FDI) outflows and an abrupt increase in financing costs in the near term amid the uncertainty of the ongoing pandemic, according to the International Monetary Fund (IMF).

Egypt's e-finance to increase shares listed on EGX after high demand

e-finance for Digital and Financial Investments, Egypt’s first fintech platform and one of its leading developers for digital payment infrastructures, announced on Monday that it has increased the shares that it intends to list on the Egyptian Stock Exchange (EGX) under Egypt’s initial public offering (IPO) programme.

EBRD, EU to expand project financing outside EU

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) have agreed to deepen their cooperation on joint financing projects and platforms in countries outside the European Union (EU) where they both operate, the two banks announced.

Aston Martin Egypt celebrates latest James Bond movie in cinemas with its iconic models

Ezz Elarab Automotive Group, the sole importer of Aston Martin vehicles in Egypt, recently celebrated the release of the long-awaited James Bond movie ‘No Time to Die’ — featuring Daniel Craig as the famous British super spy, 007 — with a screening event.

'Global deal' allows Egypt to tax multinational companies: Minister

The recent global tax deal will benefit the global economy by generating $150 billion in tax revenues per year and stabilising the global tax system, Egypt’s Finance Minister Mohemed Maait said on Sunday.

Egyptian businesses set to grasp the benefits of the AfCFTA

The organisers of the Intra-African Trade Fair (IATF2021) met on Tuesday with members of the business community in Cairo to encourage them to attend the upcoming trade and investment event.

Egypt’s PMI drops for fourth consecutive month to record 48.9 in September

Egypt’s purchasing managers’ index (PMI) for the non-oil private sector witnessed a slight drop in September — the fourth downturn in a row — recording 48.9 points, down from the 49.8 seen in August, according to IHS Markit.

Egypt's state-owned e-finance to go public on 18 October

e-finance for Digital and Financial Investments, Egypt’s first fintech platform and one of its leading developers for digital payment infrastructures, announced on Thursday that it will be listed on the Egyptian Exchange (EGX) under Egypt’s initial public offering (IPO) programme on 18 October.

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