Tourism Businesses Get New Tax Incentives

Hotels and other businesses in the tourism industry will be getting a three-month extension of their tax deadline, also without any penalties or late fees

CED Contributes With EGP 10 mn to Tahya Masr Fund

City Edge Development, Egypt's national real estate developer, announced its contribution with EGP 10 mn to the Tahya Misr Fund

CBE Limits Cash Deposits, Withdrawals

The Central Bank of Egypt (CBE) has announced new limits for daily cash deposits and withdrawals for individuals and enterprises

CBE Cuts Interest Rates by 3%

The Central Bank of Egypt (CBE) said its Monetary Policy Committee (MPC) decided in an unscheduled meeting on March 16 to cut interest rates by 300 basis points.

Gov’t Extends Deadline for Applicants of Units in New Cities

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced a two-month extension period for applicants who applied for the residential units previously provided in a number of new cities to co ...

CBE Doubles Mortgages Share of Banks’ Lending Portfolio

The Central Bank of Egypt (CBE) released a regulation doubling mortgages up to 10% of commercial banks’ lending portfolios, up from the previous 5%, Invest-Gate reports.

Sisi, Amer Discuss Monetary Policies

President Abdel-Fattah El-Sisi stressed the necessity of coordination between different state apparatuses to reduce public debt and inflation rates, Invest-Gate reports.

Fully Finished Units Only Eligible for Mortgage Finance: CBE

Vice Governor of the Central Bank of Egypt (CBE), Gamal Negm, said that units must be fully finished for them to become eligible to enjoy the mortgage finance government initiative, Invest-Gate reports.

Foreign Reserves Rise to USD 45.457 bn in January: CBE

Egypt’s net foreign reserves hit $45.457 bn at the end of January, from $45.42 bn in December, Invest-Gate reports.

Egypt’s Annual Headline Inflation Rises to 7.2%

Egypt's annual headline inflation rate recorded 7.2% in January 2020, compared to 7.1% in December 2019

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