• Sunday, 31 January 2021

    Companies in dedicated investment zones are in line for a VAT exemption

    Goods and services from special economic zones (SEZs) may soon be made VAT-exempt under draft legislative amendments approved by the House Planning and Budgeting Committee on Wednesday, reports Al Mal. If passed in a final general assembly vote, the changes...
  • Tuesday, 26 January 2021

    Egypt backs Aboul Gheit for second Arab League term

    Egypt plans to nominate Ahmed Aboul Gheit to serve a second five-year term as secretary-general of the Arab League, Saudi’s Asharq News reports, citing what it says are diplomatic sources. Egypt will make it official in the coming days, preparing...
  • Sunday, 24 January 2021

    Protests in Tunisia, Russia. Plus: Qatar says it’s not going to tell Al Jazeera to shush.

    Protesters in Tunisia are marching like it’s 2011 as hundreds took the the streets of Tunis yesterday, reports Reuters. Hundreds have been arrested since demonstrators began clashing with police in several Tunisian cities earlier this month, with people venting anger...
  • Wednesday, 20 January 2021

    2020 was a surprisingly good year for our non-oil trade balance

    A slowdown in imports during the pandemic helped narrow Egypt’s non-oil trade deficit by 17% y-o-y in 2020, falling to USD 38.3 bn in 2020 from USD 46.2 bn in 2019, Trade Minister Nevine Gamea said in a statement. Non-oil...
  • Thursday, 14 January 2021

    Palm Hills tapping Al Taamir for securitization?

    Al Taamir is in talks to manage Palm Hills Developments’ (PHD) planned EGP 650 mn securitized bond issuance, which is expected to go to market this quarter, Al Taamir Chairman Mazen Hassan tells Al Mal. Al Taamir — a special...
  • Thursday, 14 January 2021

    Oil imports, trade + SME development get USD 1.1 bn shot in the arm

    Egypt is getting another USD 1.1 bn loan for imports of petroleum products and basic commodity purchases from the International Islamic Trade Finance Corporation (IFTC) after the two sides signed an agreement yesterday, according to a Planning Ministry statement. In...
  • Wednesday, 13 January 2021

    Around the world on 13 January 2021

    A step towards EastMed peace? Greece and Turkey are sitting down later this month for the first time since 2016 for talks on Mediterranean maritime borders, Bloomberg reports. The two countries have been locked in a five-year dispute over East...
  • Wednesday, 13 January 2021

    Also on our radar on 13 January 2021

    EBRD, UN to help Egypt’s tourism industry get back on its feet post-covid: The European Bank for Reconstruction and Development (EBRD) and the UN World Tourism Organization are providing a technical assistance package for Egypt’s tourism industry that has been...
  • Monday, 11 January 2021

    You now need a license to import food

    Some food commodity news to start the week: Imports of food products without a license from the National Food Safety Authority have been banned, with the decision to take effect starting this month, while shipments of Egyptian citrus fruits are...

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