Egypt Business News

Egypt 3rd fastest growing economy by Harvard University
10.05.2018 | Although Egypt’s economy has been experiencing serious hardships in the past several years, projections are very promising by international organizations. The Center for International Development (CID) of Harvard University states in its Global Growth Projections report released this month that Egypt is ranked as the 3rd fastest growing economy in the world with a projected…
The Finance Ministry published its pre-budget report for 2018/19
16.04.2018 | The Finance Ministry published its pre-budget report for 2018/19 http://www.mof.gov.eg/…/Pre-Budget_2018-2019_12-April-2018.…. The report highlights the economic priorities scheduled and predicts average annual headline inflation to reach a rate of 13.2% and GDP growth to reach 5.8% a rise from 5.2% last year. Regarding revenue, the ministry plans to enlarge the tax base by tax inclusion initiatives. ECOVIS…
Egypt’s Tourism industry catching up
25.03.2018 | Hopes are high that Egypt’s tourism sector is catching up as it achieved a striking 36% y-o-y hike according to the Tourism Ministry. German tourists contributed the most with 115.5K arrivals followed by Ukraine and UK. A significant rise is also seen in the type of arrivals where Group Travel rose by 65% y-o-y. https://www.shorouknews.com/news/view.aspx……
The Finance Ministry unveils its state IPO program
20.03.2018 | The Finance Ministry announced its company line up for its state IPO program. The uncovering was of 23 state-owned companies whom will either IPO or list additional shares on EGX as per a statement issued by Ismail’s cabinet. The offering will be between 15% to 30% of each of the companies. The cumulative value of the…
The Financial Regulatory Authority’s newly appointed board ratification
14.03.2018 | The newly appointed board of the Financial Regulatory Authority (FRA) will be ratified in the coming days by Prime Minister Sherif Ismail, sources tell Youm7. Once ratified, the board will begin work on issues including setting the executive regulations of the Capital Markets Act, completing the Insurance Act, and drafting legislation that would grant FRA new autonomy.…
M&A and IPOs will drive Middle East's transactions this year
M&A and IPOs will drive Middle East’s transactions this year
13.03.2018 | M&A and IPOs will drive Middle East’s transactions this year according JP Morgan’s Regional Corporate Banking Head Sjoerd Leenart. A Bloomberg report identifies how private sector mergers and state sell-offs will accelerate the process https://www.bloomberg.com/…/jpmorgan-sees-busiest-mideast-y… Ecovis in Egypt provides consultancy on M&As, if you wish to know more information contact us on (cairo@ecovis.com).
A draft law on SMEs is to be discussed in Ismail’s cabinet
08.03.2018 | A draft law on SMEs is to be discussed in Ismail’s cabinet within the coming two weeks suggesting tax and non-tax incentives according to Al Masry Al Youm: http://www.almasryalyoum.com/news/details/1267392 If you’re an SME, Ecovis in Egypt can help you seize this opportunity by its consultancy and professional services in audit, accounting (bookkeeping & payroll) and…