Latest news with #FreeZone
Zawya
3 days ago
- Business
- Zawya
Egypt: El-Khatib witnesses laying foundation stone of KCG Textiles' spinning factory
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib witnessed the launch ceremony of KCG Textiles' new spinning factory in 10th of Ramadan City, according to a statement. El-Khatib affirmed that the Turkish company's new launch reflects the growing confidence of foreign investors in the Egyptian market, supporting the state's plans to expand exports. He also stressed the ministry's keenness to provide all forms of support to KCG Textiles to facilitate the implementation of its investments in Egypt, especially with the move to launch a POY production plant as part of the next phase of plans. These projects will create more job opportunities, provide high-quality products, and anchor Egypt's position as an industrial hub in the region. The company specializes in the production of ready-made curtains and furnishings, starting from the spinning stage. Its entire production is exported to Europe, the US, and China. Its annual exports amount to approximately $65 million, with total investments estimated at $75 million. The company also offers about 1,600 job opportunities and produces for major global brands. Meanwhile, the newly added expansion area spans 15,000 square meters and includes five main production lines, including a polyester thread production line, textile production line, and a dyeing line. KCG has been operating in Egypt since 2007 under the Free Zone system, located on an area of 220,000 square meters.
Mid East Info
02-07-2025
- Business
- Mid East Info
Dubai Chambers organises workshops on Corporate Tax and Labour Law with participation of 125 representatives from the private sector
Dubai, UAE – Dubai Chambers recently organised two workshops focusing on key aspects of the UAE's Corporate Tax regime and Employment Law. The sessions were designed to ensure the local business community remains informed on the latest legal and regulatory developments across diverse sectors and attracted a total of 125 participants from the private sector. The first workshop focused on the evolution of UAE Corporate Tax and was organised in collaboration with Habib Al Mulla & Partners and Andersen. The session offered valuable practical insights into corporate tax in the UAE. Participants gained a clear understanding of essential areas including the applicability of corporate tax, Free Zone taxation, tax grouping, calculation methods, transfer pricing compliance, and key legal considerations. The workshop also addressed industry-specific expense deductions, corporate tax return readiness, recent legislative updates, and tax accounting considerations for current and deferred tax. This comprehensive session ensured participants were well-prepared for compliance in the evolving tax landscape. The second workshop was organised in collaboration with Fragomen UAE and Gateley Middle East and explored the UAE's employment laws and regulations. The session provided an overview of the legal framework governing the labour market and practical guidance on visa requirements, categories, and work permits. The workshop also covered essential employment aspects such as probation, pay and benefits, performance management, grievance procedures, and end-of-service processes. The insights shared aimed to help companies manage their human capital more effectively while ensuring full compliance with applicable laws and regulations. These successful events reflect Dubai Chambers' ongoing commitment to supporting the growth and stability of businesses in the emirate. By providing access to expert-led sessions on critical legal and regulatory topics, Dubai Chambers is continuing to enhance the competitiveness of local businesses and advance their contribution to sustainable economic development.
Gulf Today
02-07-2025
- Business
- Gulf Today
Dubai Chambers' workshops focus on tax, employment law
Dubai Chambers recently organised two workshops focusing on key aspects of the UAE's Corporate Tax regime and Employment Law. The sessions were designed to ensure the local business community remains informed on the latest legal and regulatory developments across diverse sectors and attracted a total of 125 participants from the private sector. The first workshop focused on the evolution of the UAE Corporate Tax and was organised in collaboration with Habib Al Mulla & Partners and Andersen. The session offered practical insights into corporate tax in the UAE. Participants gained a clear understanding of essential areas including the applicability of corporate tax, Free Zone taxation, tax grouping, calculation methods, transfer pricing compliance, and key legal considerations. The workshop also addressed industry-specific expense deductions, corporate tax return readiness, recent legislative updates, and tax accounting considerations for current and deferred tax. This comprehensive session ensured participants were well-prepared for compliance in the evolving tax landscape. The second workshop was organised in collaboration with Fragomen UAE and Gateley Middle East and explored the UAE's employment laws and regulations. The session provided an overview of the legal framework governing the labour market and practical guidance on visa requirements, categories, and work permits. The workshop also covered essential employment aspects such as probation, pay and benefits, performance management, grievance procedures, and end-of-service processes. Meanwhile Dubai Chambers recently organised two legal workshops aimed at raising awareness among companies about shareholder agreement procedures and tax-related transactions, as well as the importance of participating in the Customer Councils workshops organised by the Federal Tax Authority. The sessions were attended by 70 representatives from the private sector across diverse industries. The first workshop, presented in collaboration with Clifford Chance, focused on key considerations of a Shareholders' Agreements (SHA). The session delved into the intricacies of structuring, governance, investor protections, and international investment implications within SHAs. Participants gained a comprehensive understanding of best practices and essential elements involved in the negotiation and implementation of SHAs. Key areas covered included the stages of a transaction and the role of SHAs, essential elements of an SHA, structuring joint ventures, governance and key reserved matters, term and exit strategies, non-compete and exclusivity clauses, and considerations related to anti-trust, foreign direct investment, taxation, sanctions, and export controls. The second workshop was hosted in partnership with the Federal Tax Authority (FTA) and focused on the importance of participating in the Authority's Customer Councils. These councils fall under the UAE government's Customer Councils initiative, which aims to enhance the quality of government services by involving stakeholders in co-designing innovative experiences based on their feedback and insights. WAM
Hi Dubai
02-07-2025
- Business
- Hi Dubai
Dubai Chambers Hosts Workshops to Guide Businesses on Corporate Tax and Employment Law
Dubai Chambers has hosted two expert-led workshops aimed at equipping private sector businesses with essential knowledge on the UAE's corporate tax regime and employment regulations. Held in collaboration with leading legal and advisory firms, the sessions attracted 125 participants and provided practical insights to help companies stay compliant amid evolving legislation. The first workshop, conducted with Habib Al Mulla & Partners and Andersen, delved into key aspects of the UAE's corporate tax framework. Topics included tax applicability, Free Zone taxation, tax grouping, transfer pricing, and legal obligations. Attendees also explored corporate tax return preparation, industry-specific deductions, and recent legislative updates. The second session, organised with Fragomen UAE and Gateley Middle East, focused on employment law. It outlined visa categories, work permits, probation policies, pay structures, performance reviews, and end-of-service procedures. Dubai Chambers said the workshops were part of its ongoing efforts to ensure the business community is well-informed and legally prepared as regulations continue to develop. News Source: Emirates News Agency
Business Upturn
24-06-2025
- Business
- Business Upturn
National Fitness Partners Raises Over $24,000 for Make-A-Wish Foundation
By GlobeNewswire Published on June 24, 2025, 19:59 IST CAMP HILL, Pa., June 24, 2025 (GLOBE NEWSWIRE) — National Fitness Partners (NFP), a leading Planet Fitness franchisee, is proud to announce it has raised $24,121.61 in support of Make-A-Wish Foundation, helping grant life-changing wishes for children with critical illnesses. In support of National Wish Month in April, National Fitness Partners encouraged members across 176 Planet Fitness locations to donate to Make-A-Wish Foundation. Members also participated in the campaign by tracking their mileage on designated treadmills at each location, with NFP donating 5 cents for every mile tracked. Thanks to the combined efforts of members, staff, and communities, the campaign resulted in an inspiring show of support for children and families in need. This marks the second year NFP has supported Make-A-Wish through a fundraising initiative. 'We're incredibly proud of the dedication and generosity shown by our Planet Fitness members and team,' said Stephen Kindler, Jr., President and CEO of National Fitness Partners. 'Every mile and every dollar donated brings hope and joy to children facing unimaginable challenges. This campaign reflects who we are, not just as a fitness brand but also as a community that cares.' The mission of Make-A-Wish is to create life-changing wishes for children with critical illness. Wishes are more than just a nice thing and they are far more than gifts, or singular events in time. Wishes impact everyone involved—wish kids, volunteers, donors, sponsors, medical professionals, and communities. ### About National Fitness Partners National Fitness Partners is a private equity held Planet Fitness franchisee based in Camp Hill, Pa. National Fitness Partners owns and operates 200 Planet Fitness locations in Pennsylvania, Ohio, Delaware, New Jersey, Indiana, Illinois, Tennessee, Maryland, Virginia, West Virginia, North Carolina, South Carolina, Massachusetts, and Connecticut. National Fitness Partners is the largest franchisee within the Planet Fitness system and is backed by Argonne Capital, a private equity firm based in Atlanta, which specializes in franchise-based middle-market investments. About Planet Fitness Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the world by number of members and locations. As of March 31, 2025, Planet Fitness had approximately 20.6 million members and 2,741 clubs in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico, Australia and Spain. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 90% of Planet Fitness clubs are owned and operated by independent business men and women. About Make-A-Wish Make-A-Wish® creates life-changing wishes for children with critical illnesses. We seek to bring every eligible child's wish to life because a wish is an integral part of a child's treatment journey. Research shows children who have wishes granted can build the physical and emotional strength they need to fight their illness. Headquartered in Phoenix, Arizona, Make-A-Wish is the world's leading children's wish-granting organization, serving children in every community in the United States and in more than 50 countries worldwide. Together, generous donors, supporters, staff and more than 24,000 volunteers across the U.S., grant more than 25 wishes every day. Since 1980, Make-A-Wish® has fulfilled over 555,000 transformational wishes for children with critical illnesses. For more information about Make-A-Wish, visit Attachment Planet Fitness Franchise Groups Raise Over $24,000 for Make-A-Wish Foundation Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
