Latest in Tag: minister of finance Highlight

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Latest in Tag: minister of finance


S&P’s upgrade of credit rating confirms Egypt is on right path: El-Garhy

Minister of Finance Amr El-Garhy welcomed the Friday decision of Standard & Poor’s (S&P) to raise Egypt’s credit rating to B from B-, stressing that this step confirms that the state is on the right path and asserts confidence in the Egyptian economic reform programme. El-Garhy added that the decision will contribute to attracting more …

Mohamed Samir

Egypt targets 4% deficit by 2022: El-Garhy

Egypt’s Minister of Finance Amr El-Garhy said that his ministry aims to reduce the budget deficit to 4% by 2022, while continuing the economic reform programme, according to state-owned Middle East News Agency. El-Garhy’s statement came on the sidelines of the launch event of the “system of tax returns, discount, and collection, with the activation …

Mohamed Samir

Deutsche Bank, BNP Paribas, Intesa Sanpaolo, Standard Chartered to arrange issuance of eurobonds this FY: El-Garhy 

Minister of Finance Amr El-Garhy announced, in a press statement on Monday, that four European banks were selected to promote and arrange the issuance of euro-dominated bonds this fiscal year (FY), adding that these banks are Deutsche Bank, BNP Paribas, Intesa Sanpaolo, and Standard Chartered. These banks are to issue euro-denominated bonds worth between €1bn …

Nihal Samir

Egypt to select banks to arrange issuance of eurobonds in 2 weeks

Minister of Finance Amr El-Garhy announced that Egypt will select the banks that will handle and manage the issuance of euro-denominated bonds within a period of two weeks, according to Reuters. El-Garhy said that Egypt expects issuing bonds between €1bn and €1.5bn in April, announcing that Egypt will start launching a promotional tour in several …

Daily News Egypt

Automotive Dealers Association demands clarification about development, insurance fees

The Egyptian Automotive Dealers Association presented a memorandum to Minister of Finance Amr Al-Garhi demanding more clarification about the mechanism of collecting development fees on imported and locally-assembled cars and the tax treatment standards of car warranty. It came after the development fees on cars and auto components have increased significantly in the last period, …

Daily News Egypt

Egypt’s treasury bonds: high interest, but for what?

The government of President Abdel Fattah Al-Sisi promised to carry out a lot of economic reforms in the country, which require excessive effort and financing, as the president had mentioned many times during different speeches. The government has been asking for foreign help since Al-Sisi came to office, from Saudi Arabia, Kuwait, the United Arab …

Hisham Salah