Palm Hills allocates EGP 30 m for backing Egyptian athletes
Palm Hills, Egypt’s leading real estate developer, allocated EGP 30 million for supporting Egyptian athletes under ...
Under the Companies Act, 2013, a large number of profitable companies are mandated to earmark at least 2% of their three-year annual net profit towards corporate social responsibility (CSR) activities. To begin with, under the new norms, CSR funds can only be routed via notfor-profit companies registered under section 8 of the Companies Act, or public trusts or societies registered under the Income Tax Act or entities set up by the government or Parliament.
To provide flexibility, the ministry of corporate affairs has allowed companies to collaborate for CSR activities and also permitted them to create or acquire capital assets through CSR in the name of beneficiaries or a public authority or registered trust, among others.
Palm Hills, Egypt’s leading real estate developer, allocated EGP 30 million for supporting Egyptian athletes under ...
Extreme weather events were the primary drivers in 18 countries where over 77 million people faced ...
Over 100 SDG-aligned projects with a total investment scope of $ 50 billion have been presented during the ...
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