May 7, 2025 – Al Khaber for Accounting And Auditing Services

Tax Authority prepares comprehensive guide on exported services: Abdel Aal

May 7, 2025

Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced that a comprehensive guide on the tax treatment of exported services is currently under preparation. The guide aims to provide a unified, accurate, and widely accepted reference for businesses and tax professionals, addressing ongoing ambiguities in the tax…

FRA, Local Development Ministry, and SHMFF coordinate to expand non-banking services

May 7, 2025

In a move to expand access to non-banking financial services nationwide, the Financial Regulatory Authority (FRA) held a high-level coordination meeting with the Ministry of Local Development and the Social Housing and Mortgage Finance Fund (SHMFF). The meeting brought together FRA Chairperson Mohamed Farid, Minister of Local Development Manal Awad,…

Fotouh Al-Kuwait to build EGP 86m packaging factory in Sokhna Industrial Zone

May 7, 2025

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), attended the signing ceremony for the Fotouh Al-Kuwait project, which will see the establishment of a packaging materials factory within the Sokhna Industrial Zone. The facility will span 10,000 square meters and involve an investment of $1.7m (approximately EGP…

Green Valley receives licence to launch smart electric passenger transport in Egypt

May 7, 2025

Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, witnessed the signing of a licensing agreement granting Green Valley Electric Vehicle Services Company the right to operate passenger transport services using electric vehicles and advanced information technology systems. The license, issued by the Land…

Egypt-Greece trade exchange falls to $1.6bn in 2024: CAPMAS

May 7, 2025

The trade exchange between Egypt and Greece reached $1.6bn in 2024, down from $2bn in 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The announcement, released Wednesday to coincide with President Abdel Fattah Al-Sisi’s visit to Greece, revealed that Egyptian exports to Greece declined to $1.1bn,…

Egypt’s foreign reserves rise to US$48.144 billion by the end of April: CBE

May 7, 2025

The Central Bank of Egypt (CBE) announced that the country’s net foreign exchange reserves rose to approximately US$48.144 billion by the end of April. According to data published on CBE’s website on Tuesday, Egypt’s foreign exchange reserves rose by approximately $387 million during April, from approximately $47.757 billion at the…

Talaat Moustafa Group records EGP 160bn in sales year-to-date

May 7, 2025

Talaat Moustafa Group (TMG), a prominent developer and investment company in Egypt’s real estate and hospitality sectors, has recorded total real estate sales of EGP 160bn year-to-date. This performance includes EGP 70bn in sales achieved in a single day from the second phase launch of its North Coast project, SouthMed.…

IL Cazar Launches ‘WestDays’ Project in October City with EGP 20 Billion Investment

May 7, 2025

Egyptian real estate developer IL Cazar has unveiled its second major project of the year: WestDays, a mixed-use residential and commercial development in the heart of October City. With a projected investment of EGP 20 billion, the 80-acre project is poised to become a landmark destination in western Cairo’s booming…

PM reviews progress in measures to ease investor procedures

May 7, 2025

Prime Minister Mostafa Madbouly met with Investment and Foreign Trade Minister Hassan al-Khatib to review progress in implementing presidential directives aimed at easing burdens on investors, attracting new capital, and supporting exports. The meeting, held on Tuesday, focused on simplifying investment approvals, improving customs procedures, and launching a unified digital…

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Day: May 7, 2025