Egyptian Sharm-el-Sheikh

Africa climate summit concludes with ‘Nairobi declaration’ seeking global tax on fossil fuels

A landmark African Climate Summit (ACS) ended on Wednesday (6 September) after the political and business leaders adopted the Nairobi Declaration that seeks to address climate challenges in the continent and that represents a united front for Africa before negotiations for more funding at COP28. The ACS was dominated by discussions of how to mobilize […]

Egypt : 10% tax on capital gains and stock dividends introduced

One of the first economic reforms under President Al-Sisi has been announced. Henceforth, a 10% tax will be levied on capital gains and stock dividends but the percentage could be lowered to 5% in some cases. The taxes are expected to generate between 3,5 and 4,5million Egyptian pounds. The new law was approved by the […]

Morocco: Police seize 3 tons of cannabis, capture dealer

Moroccan police intercepted over the weekend near the region of Taroudant a utility vehicle carrying 90 bundles of cannabis weighing in total 3 tons. The driver, aged 37, was arrested. He has criminal records and was on police drug watch-list for his ties with international drug trafficking networks. Investigation led to the seizure of a […]