Egypt Widens VAT Base in IMF-Backed Quest for New Revenue
Under the revisions posted Thursday in the government gazette, beverages will see prices rise depending on their alcohol content, with all types also subject to a 15% hike for each of the next three years. The increase will scale back to 12% thereafter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Poland's Tusk Set For Cabinet Reshuffle to Shore Up Bickering Coalition
Poland is poised to shake up its government as Prime Minister Donald Tusk seeks a boost to his coalition's flagging popularity and gears up for clashes with the new, opposition-backed president. The revamp is likely to create a super ministry of economy and finance led by the current Finance Minister Andrzej Domanski as the cabinet seeks faster growth, a person familiar with the matter said speaking on condition of anonymity. Several ministers including those responsible for justice, health and state assets are going to be replaced, according to Gazeta Wyborcza newspaper.
CNN
an hour ago
- CNN
‘We learned some lessons': How Chuck Schumer and Democrats are gearing up for the next funding fight with Trump
Democrats will soon face a significant test of their willingness to take on President Donald Trump with a fall funding deadline fast-approaching. And this time, Senate Minority Leader Chuck Schumer doesn't want to become his party's bogeyman. Months after a contentious fight that put him at the center of anti-Trump Democratic outrage, Schumer is already taking steps to avoid, once again, being put in an impossible position between Democratic voters gunning for an ugly shutdown fight with Trump and his party's long-time stance that Democrats should fund the government. This time, they don't want to find themselves with little leverage to get out of a government shutdown with a Republican president. Members say Schumer's strategy is to start laying the groundwork early for what will be a contentious and unpredictable post-August recess with the hope of avoiding the 'Democrats in disarray' narrative that plagued the party in the spring. 'We learned some lessons on what to do and not to do,' one Democratic senator said of the difference between now and the March funding fight. 'Schumer's working on trying to find a path that unifies us.' On Tuesday, Democrats held a lengthy caucus-wide meeting on the path ahead and the Senate minority leader met with his House counterpart, Hakeem Jeffries, later in the day. Members and aides caution there is no formal plan yet for how to tackle Democrats' next showdown with Trump, but it's clear Schumer wants to shield his party from the intense backlash it faced from their voters in March – and avoid his own black eye in the process. Finding consensus, however, won't be easy nor is it a guarantee in a diverse caucus where just nine members joined Schumer in voting with Republicans in March to keep the government open. Since then, Democrats' reasons for challenging Trump have only grown. Republicans passed a massive tax and spending cuts bill that included historic slashes to Medicaid and food programs with just GOP votes. Republicans also voted last week to claw back $9 billion in federal funds for foreign aid and public broadcasting that had already been appropriated by Congress. 'Here's where I am. Unless the Republicans agree to a no rescissions clause, a vote on an appropriations bill is a fake,' Sen. Angus King, an independent who caucuses with Democrats, told CNN. King was among those in the caucus who voted with Schumer and the GOP to keep the government open, but now King says he has not decided yet if he'd be willing to do that again in the fall. 'Why vote for an appropriation bill if two weeks from now they can submit a rescissions package and undo everything that is in the bill?' King asked. 'Fool me once, shame on you. Fool me twice, shame on me. I am not going to be fooled twice.' The challenge for Democrats is that they are finding themselves between two realities. On the one hand, Office of Management and Budget Director Russ Vought and conservatives on Capitol Hill are signaling a willingness for steeper budget cuts that reflect the massive slashes from Trump's Department of Government Efficiency. On the other, Senate Democrats are also working cooperatively with Republicans on the appropriations panel to pass several of the bills to fund military and veterans, agriculture and the legislative branch with broad bipartisan support. And they realize that if the government does shut down –- they may not have the leverage to reopen it. 'There is a real tension between Russ Vought and OMB and the rescissions vote, which are going right at a stable, steady appropriations process and what has been happening on committee so far,' Delaware Sen. Chris Coons, the top Democrat on the Defense appropriations subcommittee, said. Tuesday night, most Senate Democrats joined Republicans on a procedural vote to advance the military and veterans spending bill on the floor, and Schumer signaled that Democrats don't want to stand in the way of advancing bipartisan spending bills that his members have worked hard on. But, there is still a number of factors outside of Schumer's control. For one, House Republicans will manage their appropriations process. Already, conservatives are laying the groundwork for a full revolt if Speaker Mike Johnson tries to move ahead with a stopgap government funding measure known as a continuing resolution rather than passing all 12 individual spending bills. And even if the House could pass the dozen bills with their tight majority, they would many are likely to be nonstarters in the Senate where Republicans need 60 votes to advance their bills. House Minority Leader Hakeem Jeffries signaled this week that Democrats were in no mood to help Republicans pass those bills. 'It's my expectation that if Republicans tried to jam a highly partisan spending bill down the throats of the American people here in the House we'll reject it,' the New York Democrat said when asked by CNN if he would take the same tactic as last year in rejecting GOP spending bills. 'At the end of the day, Republicans control the trifecta,' Sen. Mark Warner, a Democrat, said of the unpredictability of the next few months for the party. In March, Schumer defended his decision to vote with Republicans to keep the government open. He argued that not doing so would give Trump more power, not less. And he downplayed the divisions within his ranks even as some members openly clashed with him over his decision. But in recent weeks, Schumer has signaled he's open to preparing a number of options depending on how the spending talks unfold, and Democratic members say he has been deeply engaged for weeks on how to manage the September fight. The minority leader held an impromptu press conference last week assailing comments from Vought that the appropriations process should be more partisan going forward. On the floor, Schumer warned Republicans that any passage of a spending cuts package with just GOP votes would poison the well for the September funding talks. Sen. Tim Kaine, a Democrat who voted against the stopgap funding bill in March, told CNN that Schumer clearly has taken lessons from the spring and carried them forward to this moment. 'I definitely know in the aftermath of that, he called all 47 of us. We were on recess the following week, he called all 47. What do you think? What should we do differently next time? I mean he's been very diligent in trying to seek advice and then also engage in significant discussions in the caucus about CRs and spending battles,' Kaine said. There are signs that some Senate Democrats – even those who were willing to vote for a stopgap measure to keep the government open last time – aren't as willing to repeat the move. A number of Democrats are also clamoring for Republicans to put in writing that any spending deal they agree to won't be reversed later with a GOP-only package to pull back funding for programs they don't like. 'I don't understand what it means to negotiate an appropriations deal with Republicans unless they have put in writing that there will be no rescissions and no impoundment,' Sen. Elizabeth Warren, a Massachusetts Democrat, said. But Democrats like Sen. Jeanne Shaheen, who voted with Schumer to keep the government open in the Spring, warned the most important thing is that Republicans and Democrats in the Senate agree that they, not the executive branch, should be making the spending calls. 'This really shouldn't be a partisan issue. It's a which branch of government are you in and what kind of oversight to you want to have over the executive?' she said. As for what Democrats learned from the spring fight, Shaheen offered one piece of guidance that she thinks Schumer is exercising now. 'I think in terms of lessons learned, I think the big lesson was we should have talked about it sooner and made it clear sooner what we thought was important to do.' In the House, some Democrats are also warning that early talk of a funding plan may help manage expectations from Democratic voters. 'A lot of people are looking for that silver bullet or that hidden stake that is going to take out Trump. Standing up on the appropriations bill is not going to be that,' Rep. Adam Smith, a Democrat from Washington, said. As for the GOP, many Republicans argue it's up to Democrats to decide how contentious the next eight weeks will be. 'Democrats need to decide do you want a deal? Do you want a shut down? Do you want a CR? What do you want to do? It's really not our choice,' House Appropriations Chairman Tom Cole said. 'I think a shutdown is a losing game for them. They should have learned that last time, but they beat up poor Chuck Schumer when he did the right thing, kept the government open and accepted the CR.'
Yahoo
an hour ago
- Yahoo
Middle Eastern Dividend Stocks To Watch In July 2025
Amid concerns over U.S. tariffs and weaker oil prices, most Gulf stock markets have experienced declines, reflecting investor apprehension about global economic growth and its impact on the region's energy-dependent economies. In this environment, dividend stocks can offer a measure of stability by providing regular income streams to investors even when market volatility is high. Top 10 Dividend Stocks In The Middle East Name Dividend Yield Dividend Rating Saudi National Bank (SASE:1180) 5.57% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 6.23% ★★★★★☆ Riyad Bank (SASE:1010) 6.55% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 6.62% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 3.88% ★★★★★☆ Emaar Properties PJSC (DFM:EMAAR) 6.67% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 5.34% ★★★★★☆ Banque Saudi Fransi (SASE:1050) 5.79% ★★★★★☆ Arab National Bank (SASE:1080) 6.28% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 6.74% ★★★★★☆ Click here to see the full list of 77 stocks from our Top Middle Eastern Dividend Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Emaar Properties PJSC Simply Wall St Dividend Rating: ★★★★★☆ Overview: Emaar Properties PJSC, along with its subsidiaries, operates in property investment, development, and management both in the United Arab Emirates and internationally, with a market capitalization of AED132.58 billion. Operations: Emaar Properties PJSC generates revenue through its segments of Hospitality (AED2.07 billion), Real Estate (AED29.70 billion), and Leasing, Retail and Related Activities (AED7.11 billion). Dividend Yield: 6.7% Emaar Properties PJSC offers a dividend yield of 6.67%, placing it in the top 25% of dividend payers in the AE market. Despite an unstable dividend history, recent earnings growth of 26.1% and a reasonable payout ratio (61.8%) suggest dividends are well-covered by earnings and cash flows (29.3%). The stock trades at a significant discount to its estimated fair value, presenting potential value for investors seeking income despite past volatility in payments. Click to explore a detailed breakdown of our findings in Emaar Properties PJSC's dividend report. Our expertly prepared valuation report Emaar Properties PJSC implies its share price may be lower than expected. Göltas Göller Bölgesi Cimento Sanayi ve Ticaret Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. operates in the cement industry and has a market capitalization of TRY 6.23 billion. Operations: Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. generates revenue primarily from its Construction and Building Materials segment, amounting to TRY 5.49 billion, and its Energy segment, contributing TRY 469.97 million. Dividend Yield: 3.2% Göltas Göller Bölgesi Cimento Sanayi ve Ticaret's dividends are covered by earnings with a low payout ratio of 8.2%, but cash flow coverage is tighter at 89.6%. Despite being in the top 25% for dividend yield in Turkey, its dividend history has been volatile and unreliable over the past nine years. Recent earnings have declined significantly, with net income dropping to TRY 6.37 million from TRY 437.1 million year-on-year, raising concerns about future stability. Click here and access our complete dividend analysis report to understand the dynamics of Göltas Göller Bölgesi Cimento Sanayi ve Ticaret. Our valuation report unveils the possibility Göltas Göller Bölgesi Cimento Sanayi ve Ticaret's shares may be trading at a premium. Osmanli Yatirim Menkul Degerler Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Osmanli Yatirim Menkul Degerler A.S. operates in Turkey's capital markets, offering asset management, custody services, investment consultancy, and online trading platforms with a market cap of TRY4.17 billion. Operations: Osmanli Yatirim Menkul Degerler A.S. generates revenue primarily from its brokerage services, amounting to TRY7.76 billion. Dividend Yield: 3.4% Osmanli Yatirim Menkul Degerler's dividend payments are supported by a payout ratio of 57.2% and a cash payout ratio of 21.3%, indicating strong coverage by both earnings and cash flows. Although the dividend yield is among the top in Turkey, the company's short three-year history of paying dividends has been marked by volatility and unreliability. Recent financial results show a significant decline in net income to TRY 17.82 million from TRY 122.7 million year-on-year, potentially impacting future payouts. Unlock comprehensive insights into our analysis of Osmanli Yatirim Menkul Degerler stock in this dividend report. Insights from our recent valuation report point to the potential overvaluation of Osmanli Yatirim Menkul Degerler shares in the market. Taking Advantage Click through to start exploring the rest of the 74 Top Middle Eastern Dividend Stocks now. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Interested In Other Possibilities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DFM:EMAAR IBSE:GOLTS and IBSE:OSMEN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
