iPhone | iPad
Android
Huawei
Veerendra Kumar said he was cheated by a job agent who had promised him a job in Qatar but sent him to Saudi
KT APPDOWNLOAD
$400m Egyptian IPOs soon
ABU DHABI — Egyptian expatriates could get an opportunity to subscribe $400 million worth jumbo IPOs of the two petrochemicals companies within next few weeks to widen the shareholding.
"Two state-owned companies Sidpec and AMOC will be offering their IPOs, which are open to Egyptians and regional investors," Mehmood Attallah, a banker with Ahli Bank told an investment seminar held at ADCCI.
A 10-member high level business delegation headed by Dr Ziad Bahauddin, Chairman of country's newly--established organisation — General Authority for Investment and Free Zones — is visiting the UAE to reach out to local business community to market the projects in the areas of privatisation, petrochemicals, tourism, IT, Textile, cement, and food processing.
Dr Bahauddin briefed the audience about the new authority, which is facilitating the foreign investors by assisting them in bypassing red tapism in obtaining necessary approvals in three days.
He told investors that corporate tax has been reduced to 20 per cent from 42 per cent, and fiscal incentives have been allowed in shape of tax holidays to the under-developed areas where from 5-15 years tax exemption can been enjoyed depending on the location of the industry.
Counting the positive points of the economy, he said exchange rate was stable, exports were picking up, foreign companies were investing heavily and one of the UAE's leading company Emaar has announced a mega real estate project.
Earlier, Director-General ADCCI, Mohammed Omar Abdullah in his welcoming remarks said that the UAE and Egypt enjoys excellent bilateral relations.
Fahmi Fayed, Egypt's Ambassador to the UAE said his country was reforming the economy making it more responsive to the foreign direct investments.
More news from
The government authority announced the road closure on social media platform X
Around 800,000 passengers are expected to be affected over the weekend as the damage is heavy and labour-intensive to repair
A total of 17 candidates secured the All India Rank (AIR) 1 as per the final results while earlier the number was 67
Authority said the exercise will involve movement of military vehicles and urged residents to stay away from designated areas
'I am proud of you. This is going to be historic,' the former first lady told Harris in a live video call
The application will be operational from Thursday, August 1
Prices for affordable apartments in popular areas have witnessed a rise of up to eight per cent compared to the second half of 2023