ECOWAS

Egypt: Import Duties on Luxury Goods Increased to Promote Local Products

A new presidential decree coming into effect this February 1 will increase import duties on luxury goods from 10% to 40% as the government tries to boost its foreign reserves and ensure that they are spent on essential products while hoping to contribute to an increase in demand of local products. Ahmed Shiha, head of […]

ILO Chief hails Morocco’s social inclusion & protection efforts

Director General of the International Labor Organization (ILO), Gilbert Fossoun Houngbo, has hailed the efforts made by Morocco to build a model social State thanks to the implementation of a comprehensive social inclusion and protection policy. Mr. Houngbo made the remarks on the sidelines of the visit he is paying since Monday to the North […]

Chinese Midea Group contemplates acquiring Electrolux Group’s Egyptian Zanussi

The Chinese electrical appliance manufacturer Midea Group is considering acquiring the Swedish appliances manufacturer Electrolux Group’s Zanussi brand and its assets in Egypt, reports say. Electrolux Group announced mid last month plans to exit the Egyptian market. The company indicated that it is preparing to sell its factories in Egypt, which produce the main appliances […]