Economy

Parliament approves VAT bill at 13 percent tax rate

Parliament approves VAT bill at 13 percent tax rate

Egypt's House of Representatives gave its initial approval for a bill to introduce Value-Added Tax (VAT) during preliminary discussions in…
Saudi Telecom, Lebara KSA in Egypt this week to discuss 4G licence, official says

Saudi Telecom, Lebara KSA in Egypt this week to discuss 4G licence, official says

Representatives from Saudi Telecom and Lebara KSA are in Egypt this week to discuss the possibility of obtaining a fourth-generation…
Wheat drops for 6th session on ample supplies; Egypt demand eyed

Wheat drops for 6th session on ample supplies; Egypt demand eyed

U.S. wheat fell for a sixth consecutive session and hovered near a three-week low on Monday, as ample global stocks…
Egypt’s agriculture minister reinstates zero ergot policy in wheat

Egypt’s agriculture minister reinstates zero ergot policy in wheat

Egypt will no longer permit wheat shipments with even trace levels of ergot, and will apply the decision retroactively, the…
Iraq plans to sell oil through Iran if talks with Kurds fail

Iraq plans to sell oil through Iran if talks with Kurds fail

Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement…
Apple fixes security flaw after UAE dissident’s iPhone targeted

Apple fixes security flaw after UAE dissident’s iPhone targeted

Apple Inc issued a patch on Thursday to fix a dangerous security flaw in iPhones and iPads after researchers discovered…
Oil prices fall as Saudi Arabia dampens prospects of output freeze

Oil prices fall as Saudi Arabia dampens prospects of output freeze

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks…
Egypt’s wheat corruption scandal: timeline of a crisis

Egypt’s wheat corruption scandal: timeline of a crisis

The minister responsible for food subsidies in Egypt, the world's biggest wheat importer, resigned on Thursday amid a high profile…
Welspun scandal follows years of plummeting Egyptian cotton output

Welspun scandal follows years of plummeting Egyptian cotton output

A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S.
Egypt plans to end fuel subsidies within three years

Egypt plans to end fuel subsidies within three years

Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of…
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