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Ministry of Finance said Sunday that the Tax Dispute Law succeeded to add LE 15.6 billion ($ 881.47 million) to the Egyptian treasury through 19 committees for ending tax disputes whether in income taxes or sales taxes.
The Central bank of Egypt (CBE) said that the total remittances from Egyptian expatriates recorded $29.1 billion during the period from November 2016 to December 2017, compared to $24.4 billion in the same period of 2015/2016, according to a statement published on Sunday.
The Egyptian Exchange (EGX) ended Sunday in red for the second consecutive session, amid Arab and foreign selling.
The benchmark EGX30 slipped 0.62 percent, or 92.93 points, to end at 14,828.36 points.
New investments have risen by 20.8 percent in January 2018 to stand at LE 5.2 billion, the Investment and International Cooperation Ministry said.
The UAE-based Dana Gas announced that Egypt paid off $164 million to the company, which represents 129 percent of the total billings, Dana gas said in an online statement on its official website.
Dana Gas added that the total receivable balance fell 14 percent to $228 million from $265 million.
Minister of Oil and Mineral Wealth Tarek el Mulla conferred on Sunday with a delegation of top officials at Italy's Maire Tecnimont Group, including Chairman Fabrizio Di Amato and Chief Executive Officer Pierroberto Folgiero, on cooperation opportunities between the two sides.
UK trade envoy to Egypt Sir Jeffrey Donaldson said Britain became the biggest foreign trade partner to Egypt as its investments exceeded 43 billion dollars over the past decade.
Minister of Communications and Information Technology Yasser al-Qadi announced that the implementation of the Knowledge City in the New Administrative Capital will begin in March once the land allocated for the project is received.
Christine Lagarde, Managing Director of the International Monetary Fund, said Sunday that sharp swings in global financial markets in the past few days “are not worrying” since economic growth is strong, yet reforms are still needed to avert future crises.
Germany’s DEA Group announced that it plans to invest about $500 million (LE 8.8 billion) in Egypt, DEA’s chief executive officer Maria Moraeus Hanssen said.
Egypt’s Minister of Public Sector Affairs Khaled Badawi discussed the settlement of Cotton & Textile Industries Holding Company’s debt with deputy chairman of National Investment Bank (NIB), Mahmoud Montasser, according to an official statement.
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to issue LE 15.5 billion in treasury bills on Sunday.
Egypt's former Investment Minister and Deputy Chairman of the World Bank Mahmoud Mohieldin will co-lead the Global Councils for Sustainable Development Goals Initiative, launched Saturday at a pre-World Government Summit (WGS) session in Dubai.
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