The Suez Canal Blockage – Liability Issues under Egyptian Law

Posted in News on Apr 01, 2021

The Suez Canal Authority (SCA) announced last week the successful floating of the ultra large Ever Given ship which blocked the Suez Canal and led to the suspension of the navigation in a key artery for global trade for six days.

The SCA announced yesterday that the navigation movement at the Suez Canal is back to normal with a number of 81 vessels crossing the canal in the two directions with a total net weight of 5 million ton. The announcement confirmed that navigation in the canal continues around the clock to ensure that all waiting vessels pass as soon as possible in addition to receiving new vessels.

RR NEWSLETTER ISSUE 21

Posted in News on Mar 31, 2021

Legal Updates¹

Special Labor & Employment Issuance

• The New Normal – Remote Work and the Future of Employment & Labor Laws in Egypt
• New measures to link Social Insurance with Payroll Tax in Egypt
• Work Injury and Death Claims Due to Covid-19 in Egypt
• New Increase in the Social Insurance Salary in Egypt
• Egypt’s Personal Data Protection Law - An Employment & HR Perspective

New measures to link Social Insurance with Payroll Tax in Egypt

Posted in News on Mar 30, 2021

On 29 March 2021, the Social Insurance Authority in Egypt has issued a circular whereby the tax registration number of a company or entity will be recorded in the electronic social insurance system. Employers and companies are given six months grace period to comply with the new requirements; in the meantime, they are required immediately to display their tax registration number in all correspondence and documents submitted to the Social Insurance Authority.

Work Injury and Death Claims Due to Covid-19 in Egypt

Posted in News on Mar 16, 2021

The Egyptian Social Security Law No. 148/2019 (the “Law”) defines “work injury” as any injury caused by an accident occurred during the performance of work or resulting from it.

New Increase in the Social Insurance Salary in Egypt

Posted in News on Mar 16, 2021

The new Social Insurance Law No. 148/2019 in Egypt (which came into force in January 2020) has introduced – for the first time - the concept of the Unified Social Insurance Salary and cancelled the traditional distinction between basic and variable social insurance salaries.

Egypt’s Personal Data Protection Law - An Employment & HR Perspective

Posted in News on Feb 28, 2021

The Egyptian Data Protection Law No. 151/2020 (the “Law”) came into effect in October 2020. The executive regulation of the Law is expected to be issued by April 2021. Companies are given twelve 12-month grace period from the date of the executive regulations to fully comply with the Law.

Covid-19 Update – January 2021

Posted in News on Jan 10, 2021

With the outbreak of the second wave of Covid-19 in Egypt, the government has issued a number of decisions and adopted certain measures to prevent the spread of virus.

Banking Sector

The Central Bank of Egypt (CBE) decided a number of measures aiming at facilitating online transactions and reducing dealings with cash.

RR NEWSLETTER ISSUE 20

Posted in News on Jan 03, 2021

Legal Updates

Reconstitution of the National Council for Salaries – A Step towards Setting a Minimum Salary for Private Sector Employees

Posted in News on Jan 03, 2021

The National Council for Salaries (the “Council”) was first constituted in 2003 in accordance with Article (34) of the Egyptian Labor Law No. 12/2003. The Council is competent to determine the minimum salaries and the annual increments of private sector employees.

Riad & Riad represents the Italian energy group Eni in the significant deal to reopen Egypt’s Dammietta LNG plant

Posted in News on Jan 02, 2021

Riad & Riad represents the Italian energy group Eni in the significant deal reached with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over Damietta liquefaction plant in Egypt. The agreements reached pave the way for the restart of the Damietta plant as stated by Eni in a statement on 1 December 2020