Household electricity tariffs hiked by an average of 12%

Good morning, everyone.

The headline is the IMF.

Meanwhile, a debate over gold is heating up.

BUT FIRST- The fire that took the Energos Winter regasification unit out of service at Damietta Port on Wednesday was the result of a drone strike statement

The details: watch, runtime: 1:07:50

The energy fallout: temporarily out of service diverted

More mazut on the way: hiking its mazut imports

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The Electricity Ministry hiked household electricity tariffs by an average of 12% statement

The new price tags per kWh for households:

REMEMBER- earlier this year would remain unchanged through the summer EGP 104.2 bn for electricity subsidies

The government is looking at some 4.2k state-owned properties, land plots, and company stakes to help state bodies clear debts owed to one another

The plan includes restructuring six holding companies, covering cotton, food, and the chemicals sector, by settling their debts with assets.

IN CONTEXT- 78% of GDP from April

EGX stamp tax goes live

A stamp tax on EGX transactions went live on Wednesday following the publication of the legislative amendments in the Official Gazette.

REMEMBER- dropped the long-delayed capital gains tax under discussion secured final House approval

Goodbye, fertilizer duty

The Investment Ministry has reportedly scrapped the 10% export duty on nitrogen fertilizers over the weekend

IN CONTEXT- in May end of June

Zafarana winds are picking up

Alcazar Energy’s Zafarana wind project has moved to the execution phase with a 407 MW power purchase agreement (PPA) Cabinet statement

The numbers: Zafarana November 2024 USD 2.5 bn, 3.1 GW wind and solar complex

It’s more tolerable in Alexandria

The big story abroad

No single story is dominating international headlines this morning

#1- Most of the 60k North African migrants who illegally crossed into Spain’s Ceuta have made their way back to Morocco citing

#2- FIFA President Gianni Infantino’s future with the football governing body could be in trouble pulled the plug

#3- The aftermath of the selloff: