Import challenges facing manufacturers should be resolved within two months, El Sisi said.
Egypt received 4.9 million tourists in 1H2022, compared to 2.6 million tourists in 1H2021. This points to tourism revenues of USD10 billion in 2022.
The pre-offering fund of the Sovereign Fund of Egypt has started to list and acquire the assets that it plans to offer to strategic investors before the public offering, worth USD5-6 billion.
The Egyptian Association of Fertilizers Dealers and Distributors submitted a request to the cabinet demanding that the fertilizer subsidy be limited to only 7 strategic crops, along with the transition to cash subsidies.
Petrochemical Holding Company is finalizing the feasibility studies for El Alamein Petrochemical Complex, which will produce 3 million tons per year of specialized petrochemical products, with investment cost of USD6.7 billion for the first phase.
The Russian company, Krastsvetmet, is studying the establishment of a fertilizer complex in The Suez Canal Economic Zone.
The Land and Dry Ports Authority aims to attract investments worth USD350 million for the Tenth of Ramadan dry port project. Several consortiums including SWDY and the Abu Dhabi Ports Alliance - ORAS are bidding for the project. The winning bid will be settled within 3 months.
The Supply Ministry signed yesterday EGP 12 bn in final contracts with Hassan Allam, ORAS, and Samcrete for the construction of four warehouses for commodity storage.
MNHD signed a partnership agreement with Asten College to establish the first international school in Taj City.
EMFD awarded a EGP560.0 million contract for the construction of 195 offices in Cairo Gate.
Around 3.5 mn homes in c. 5k Egyptian villages are set to get access to high-speed internet, under the Hayah Karima initiative. (ETEL)
Emirati education provider Bloom Education is partnering with two local firms to establish a new international school New Giza. More than EGP 1.5 bn will be invested in the project.
Aeroflot is resuming regular flights from Moscow to Sharm El Sheikh and Hurghada starting 1 October.
Aman has allocated EGP 60 mn to Islamic finance and EGP 10 mn to nano finance in an initial phase.
B2B logistics marketplace Trella has inked an agreement with CNFN designed to give it and the carriers it works with the access to finance.
The alliance of “Lime Vest Partners” and “Tawasol Holdings Investments” acquired about 70% of the shares of AMES at EGP49 per share.
MHOT declared EGP3.00/share cash dividends (DY of 10.4%). Record date is 11 October 2022. Distribution date is 16 October 2022.