Weekly Rundown of Top 10 Trending Headlines
Updated 10/11/2024 9:00:00 AMArab Finance: From the government announcing the first batch of the tax facilities package to the official launch of the Ras El-Hekma development project, the five working days that ended on October 10th have been dominated by interesting news headlines that should not be missed.
The following are snippets of the top news stories posted from October 6th to 10th.
1-Egypt unveils 1st batch of tax facilities package
The government has unveiled the first batch of the tax facilities package aimed at boosting the country’s tax system, promoting investments, and driving economic growth.
2-El-Sisi, UAE's presidents officially launch major Ras El-Hekma development project
Egyptian President Abdel Fattah El-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan have launched the Ras El-Hekma development project, a major initiative aimed at boosting economic, real estate, tourism, and environmental growth in Egypt.
3-Egypt gears up to rejoin JPMorgan’s Emerging Markets Bond Index
Egypt is making strides to regain its position in JPMorgan Chase & Co.’s Government Bond Index for Emerging Markets (GBI-EM), a benchmark tracked by more than $200 billion in emerging-market funds.
4-GAFI, Business France ink MoU for sustainable investment cooperation
The General Authority for Investment and Free Zones (GAFI) has sealed a memorandum of understanding (MoU) with Business France to ensure sustainable investment cooperation between Egypt and France.
5-Egypt to set up 6 new free zones in 2025: Heiba
The Egyptian government is planning to establish six new free zones over the coming year.
6-EGX prepares for new offerings under state IPO program
The Egyptian Exchange (EGX) is set to see two new offerings this year under the state’s initial public offering (IPO) program.
7-Parliament gives final greenlight to sovereign investment, development fund law
The House of Representatives has given its final approval to a draft law, submitted by the government, amending some provisions of Law No. 177 of 2018 on the establishment of The Sovereign Fund of Egypt for Investment and Development.
8-Egypt’s annual core inflation rate records 25% in September: CBE
Egypt's annual core inflation rate recorded 25% in September, compared to 25.1% in August.
9-Egypt launches 1st microinsurance company under new unified insurance law
Post for Investment, Egypt Post’s investment arm, and AXA Egypt have signed a partnership agreement to launch Egypt’s first microinsurance company under the newly implemented Unified Insurance Law.
10-NTRA grants 5G services licenses to telecom operators in Egypt
The National Telecommunications Regulatory Authority (NTRA) has signed the second batch of the fifth generation (5G) service licenses with the four telecom operators in the country.
