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Manage episode 470931489 series 2987212
*Key news articles for today*
Egypt’s fourth loan-review showed that more needs to be done on the structural reform agenda. “Progress with the implementation of the structural reform agenda was mixed, with notable delays on critical reforms related to divestment and leveling the playing field,” the IMF said in a statement after its Executive Board completed the fourth review.
The IMF also approved the Request for an Arrangement Under the Resilience and Sustainability Facility. The USD1.3 bn in funds are set to be directed towards climate-related projects in Egypt, namely ones that pertain to the expansion of renewable energy, emission reduction, water, and combating desertification.
The government is working on a package of incentives for listing on the stock exchange in an effort to stimulate government offerings and encourage private listings on the EGX. Incentives include reduced taxation on first-time listings.
The move to reinstate a 0.15% stamp tax on all EGX transactions as a simpler alternative to the capital gains tax is currently in its final stages before cabinet approval, after which it will be referred to the House. The tax would apply to both resident and non-resident investors.
The government is exploring the possibility of leasing a German LNG regasification vessel, with a delegation of Egyptian experts expected to visit Germany by the end of this month to finalize the terms of the potential agreement, the Oil Ministry said.
The Houthis are once again targeting Israeli-linked vessels crossing the Red Sea, according to the group’s spokesman.
The General Authority for Investment and Free Zones intends to launch new public free zones specializing in the spinning and textile industries, engineering and chemical industries. This is part of the government's strategy to boost productivity and attract more investment, in a move aimed at raising Egyptian exports to USD145 billion by 2030.
OCDI's fully-owned subsidiary, Tabrouk for Development, signed a EGP2.5 billion bridge loan facility to partially finance development costs in the June project on the North Coast.
HRHO completes its advisory services on the IPO of Alpha Data on the Abu Dhabi Securities Exchange with a value of USD163 million.
1656 bölüm
Manage episode 470931489 series 2987212
*Key news articles for today*
Egypt’s fourth loan-review showed that more needs to be done on the structural reform agenda. “Progress with the implementation of the structural reform agenda was mixed, with notable delays on critical reforms related to divestment and leveling the playing field,” the IMF said in a statement after its Executive Board completed the fourth review.
The IMF also approved the Request for an Arrangement Under the Resilience and Sustainability Facility. The USD1.3 bn in funds are set to be directed towards climate-related projects in Egypt, namely ones that pertain to the expansion of renewable energy, emission reduction, water, and combating desertification.
The government is working on a package of incentives for listing on the stock exchange in an effort to stimulate government offerings and encourage private listings on the EGX. Incentives include reduced taxation on first-time listings.
The move to reinstate a 0.15% stamp tax on all EGX transactions as a simpler alternative to the capital gains tax is currently in its final stages before cabinet approval, after which it will be referred to the House. The tax would apply to both resident and non-resident investors.
The government is exploring the possibility of leasing a German LNG regasification vessel, with a delegation of Egyptian experts expected to visit Germany by the end of this month to finalize the terms of the potential agreement, the Oil Ministry said.
The Houthis are once again targeting Israeli-linked vessels crossing the Red Sea, according to the group’s spokesman.
The General Authority for Investment and Free Zones intends to launch new public free zones specializing in the spinning and textile industries, engineering and chemical industries. This is part of the government's strategy to boost productivity and attract more investment, in a move aimed at raising Egyptian exports to USD145 billion by 2030.
OCDI's fully-owned subsidiary, Tabrouk for Development, signed a EGP2.5 billion bridge loan facility to partially finance development costs in the June project on the North Coast.
HRHO completes its advisory services on the IPO of Alpha Data on the Abu Dhabi Securities Exchange with a value of USD163 million.
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