MCDR Achieves Highest Quarterly Profits Ever

Misr for Central Clearing (MCDR) records the highest quarterly profit rate ever Q1 2022, Invest-Gate reports.

Oman Calls Public Firms to Replace Foreign Workers

Oman's finance ministry asked state companies on April 29 to replace foreign workers with locals, as part of efforts to develop the national workforce,

Egypt Allocates EGP 100 bn to Combat COVID-19

President Abdel-Fattah El-Sisi instructed the government on March 14 to allocate EGP 100 bn (USD 6.4 bn) to support all the precautionary measures to be taken to combat the coronavirus disease (COVID-19)

Egypt Allots EGP 9.3 bn to Social Housing in FY 2019/20

The government allocated a total of EGP 9.3 bn for the social housing program in FY 2019/20, complementing its plan to ensure decent lives for all citizens through building integrated urban communities.

Gov’t Scraps Monthly Customs Exchange Rate System

The Finance Ministry decided to revert to setting the monthly customs exchange rate on a daily basis according to FX rates announced by the Central Bank of Egypt (CBE)

Real Estate Taxes to be Automated

Egypt's finance and military production ministries signed on July 17 a cooperation protocol to automate the country's real estate taxes, coming as part of the state's plan to attain financial inclusion through the ...

Gov’t Officials Agree to Raise Mortgages by EGP 40 bn

Mortgage Finance Fund's (MFF) board of directors have signed a cooperation protocol with the finance ministry to raise the value of mortgages provided to low-income citizens by an additional EGP 40 bn, bringing th ...

Finance Ministry Signs 8 Contracts for 24 Language Schools

The Ministry of Finance has announced the signing of contracts with eight Egyptian and Arab investment companies for the establishment of 24 language schools in seven governorates.

Egypt Aims to Reduce Budget Deficit to 7% in FY 2019/20

The Finance Ministry's FY 2019/20 draft state budget targets reducing Egypt's total budget deficit to 7% of the country's GDP, down from 8.4% in the current fiscal year, anticipating to see the deficit shrinking t ...

Tourism, Finance Ministries Ink Deal on Property Taxes for Hotels

The ministries of tourism and finance have signed an agreement on the standards of real estate tax valuation of hotels

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