• Monday, 27 January 2020

    House approves Tax Dispute, Consumer Credit bills in principle

    LEGISLATION WATCH- House approves Tax Dispute Act in principle: The House of Representatives yesterday approved in principle the government’s temporary tax dispute legislation, according to Al Shorouk. The Tax Dispute Act, which gained cabinet approval in December, would extend the...
  • Wednesday, 22 January 2020

    FRA sets up committee of NBFs to participate in CBE’s initiative to rehabilitate financially troubled clients

    FRA to bring NBFS firms on board with CBE corporate debt forgiveness initiative: The Financial Regulatory Authority (FRA) is forming a committee to assess how non-banking financial services companies can be brought into the Central Bank of Egypt’s initiative to...
  • Wednesday, 22 January 2020

    PHD signs EGP 505 mn refinancing agreement with Ahli United Bank

    PHD signs EGP 505 mn refinancing agreement with Ahli United Bank: Palm Hills Developments (PHD) has signed a EGP 505 mn loan agreement with Ahli United Bank Egypt to refinance some its debt, the real estate developer announced in a...
  • Sunday, 19 January 2020

    Earnings watch: CIRA reports solid profit, revenue growth in 1Q2019-2020

    EARNINGS WATCH- CIRA reports solid profit, revenue growth in 1Q2019-2020: Cairo for Real Estate and Investment’s (CIRA) profit jumped 47% y-o-y to EGP 109 mn in the first quarter of its 2019-2020 fiscal year (September-November), according to the company’s earnings...
  • Tuesday, 14 January 2020

    Qatari Diar offers olive branch to litigious City Gate clients

    Qatari Diar offers City Gate customers quid pro quo: Qatari Diar has offered amended contract terms to clients of its City Gate project in exchange for them dropping lawsuits against the company, according to Al Shorouk. A number of Qatari...
  • Tuesday, 14 January 2020

    House committee approves changes to income tax bands

    LEGISLATION WATCH- House committee approves changes to income tax bands: The House Planning and Budget Committee yesterday approved changes to Article 8 of the Income Tax Act proposed by Rep. Mervat Alexan to raise the income tax brackets, according to...
  • Sunday, 12 January 2020

    Ashraf Salman appointed as City Edge Chairman, Ahmed Wehashi joins board

    MOVES- Ashraf Salman appointed City Edge chairman, Ahmed Wehashi joins board: The City Edge board has approved the appointment of former Investment Minister Ashraf Salman as the company's chairman, replacing Hassan Ghanem who had been selected for the post last...
  • Wednesday, 8 January 2020

    Hussein Shoukry resigns from SODIC board

    MOVES- Hussein Shoukry resigns from SODIC board: HC Securities Chairman Hussein Shoukry has submitted his resignation from the SODIC board effective 31 January, the company said in a bourse disclosure (pdf).
  • Wednesday, 8 January 2020

    Banque du Caire acquires 20% stake in Egy Serv

    M&A WATCH- Banque du Caire acquires 20% of Egy Serv: Banque du Caire (BdC) has acquired a 20% stake in the postal services company Egy Serv, banking sources told Al Mal. The bank purchased around 797.9k shares from the National...

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