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Economy
- Service : English
- Category : Economy
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Egypt bourse hit by 4th largest loss in its history
Date: 2014-06-01 12:32:10 GMT - Egypt - Economy - SN:26 - ID:754924
The Egyptian Exchange (EGX) recorded the fourth biggest daily loss in its history on the backdrop of fears of imposing a capital gains tax on shares. The market capital lost about EGP 19 billion to reach EGP 460.2 billion, raising the losses ....
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Cabinet submits draft laws on income, stamp taxes to president
Date: 2014-06-01 11:52:08 GMT - Egypt - Economy - SN:24 - ID:754840
The Cabinet has submitted the final copy of a bill amending the laws on income taxes and stamp taxes, the Finance Ministry said Sunday. The Cabinet has consulted the Egyptian Financial Supervisory Authority (EFSA) on the bill that had been ....
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Bourse suspend trading for 30 minutes over sharp losses
Date: 2014-06-01 10:00:45 GMT - Egypt - Economy - SN:18 - ID:754618
The Egyptian Stock Exchange suspended trading for 30 minutes over sharp decrease which exceeded 5 percent with losses estimated at over EGP 19 billions. Bourse Chairman Dr Mohammad Umran said the bourse suspension is being automatically done when ....
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Bourse loses LE 10 bn at early trading, indices down 5%
Date: 2014-06-01 08:32:50 GMT - Egypt - Economy - SN:14 - ID:754436
Egypt bourse indices went down at the beginning of Sunday trading as a result of the Egyptian government's decision to impose 10 percent taxes on capital gains, motivating a random selling among investors, especially Egyptians. Market capital of ....
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Capital gains tax to be applied soon: Finance Minister
Date: 2014-05-31 17:24:29 GMT - Egypt - Economy - SN:55 - ID:753840
Finance Minister Hani Qadri has said that the draft law of the capital gains tax was currently being reviewed by the State Council to be issued as soon as possible, adding that the tax would be implemented once a law is issued. "The government is ....
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4 new drinking water projects to be established in Giza - governor
Date: 2014-05-31 16:28:18 GMT - Egypt - Economy - SN:50 - ID:753783
Ministry of Housing, Utilities and Urban Development has approved the establishment of four new projects for drinking water during 2014, Giza governor Ali Abdul-Rahman said Saturday. Abdul-Rahman said the projects would tackle water problems in ....
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Nile level drops by 2 cm
Date: 2014-05-31 12:35:32 GMT - Egypt - Economy - SN:40 - ID:753400
The Nile River water level dropped Saturday to record 174.51 meters, two centimeters less than Friday. Water released from the Aswan Dam reached 255 million cubic meters and the amount of water coming freshly to Lake Nasser reached 151 million ....
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World Bank chief plans first visit to Middle East
Date: 2014-05-31 08:13:50 GMT - USA - Economy - SN:20 - ID:752814
World Bank Group President Jim Yong Kim will visit Saudi Arabia, Lebanon, and Jordan on June 1-4 to focus on the challenges and opportunities facing the Middle East and North Africa (MENA) region. This will be Kim’s first visit to the three ....
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World Bank Group pumps over $8bn to upgrade agricultural sector in Egypt
Date: 2014-05-31 06:57:54 GMT - Egypt - Economy - SN:14 - ID:752682
The World Bank Group has helped boost agricultural investments in Egypt. In 2013, the group signed contracts with the agricultural sector worth 8.1 billion dollars, it said in a statement. The volume of aid offered by the International Bank ....
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Bourse trading stamp duty to be cancelled: minister
Date: 2014-05-31 06:17:56 GMT - Egypt - Economy - SN:3 - ID:752615
Minister of Finance Hany Kadry Dimian said Friday that the government is drafting a new bill to cancel the bourse stamp duties and to impose a ten-percent tax on the net capital gains (CGT) for personal and legal entities. The minister made the ....
