The CBE decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 16.25%, 17.25%, and 16.75%, respectively.
Egypt’s current account deficit narrowed by 20.2% to USD3.2 billion in 1Q22/23. The improved performance was attributed primarily to
On the other hand,
The balance of payments recorded an overall surplus of USD523.5 million during the July-September period.
Suez Canal revenues grew 47% y-o-y in January to an all-time monthly high of USD802 million.
The cost of insuring against default on Egypt’s one-year t-bills (CDS) is currently around 500 bps, down significantly from the peak of almost 1,800 last July but still up significantly from lows in 2021.
The energy sector represents 50% of the state-owned companies that the government plans to offer stakes in this year.
Egyptian Electric Utility & Consumer Protection Regulatory Agency approved a new tariff for using the electricity transmission grid during FY22/23. The tariff for extra high voltage is 4.96 piasters/kwh, 14.53 piasters/kwh for the high voltage, and 15.52 piasters/kwh for medium voltage.
The CBE has instructed local banks to use FX obtained from the interbank market to fund imports rather than to cover overdrawn FX accounts.
According to local news, HRHO has decided to postpone listing its consumer finance arm ValU until next year.
Several local banks have re-applied the mortgage financing initiatives with returns of 3% and 8%, after transferring the initiative to the Ministry of Housing and Urban Communities instead of the CBE.
The 13 draft oil agreements for oil exploration in the Western Desert, Gulf of Suez, and the Mediterranean will bring minimum investments of USD650 million.
Ethydco is currently negotiating to reschedule USD1.25 billion in debts.
The Education Ministry will launch an in-school tutoring scheme across all governorates at the start of the second semester of the academic year next week.
NTRA is currently discussing with MNOs allowing Wi-Fi-supported calls service, which is expected to be implemented during the current year.
Sweden-headquartered outsourcing company Transcom has opened an outsourcing center in Sixth of October’s Smart Village.
The CBE decided to keep overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 16.25%, 17.25%, and 16.75%, respectively.
Egypt’s current account deficit narrowed by 20.2% to USD3.2 billion in 1Q22/23. The improved performance was attributed primarily to
On the other hand,
The balance of payments recorded an overall surplus of USD523.5 million during the July-September period.
Suez Canal revenues grew 47% y-o-y in January to an all-time monthly high of USD802 million.
The cost of insuring against default on Egypt’s one-year t-bills (CDS) is currently around 500 bps, down significantly from the peak of almost 1,800 last July but still up significantly from lows in 2021.
The energy sector represents 50% of the state-owned companies that the government plans to offer stakes in this year.
Egyptian Electric Utility & Consumer Protection Regulatory Agency approved a new tariff for using the electricity transmission grid during FY22/23. The tariff for extra high voltage is 4.96 piasters/kwh, 14.53 piasters/kwh for the high voltage, and 15.52 piasters/kwh for medium voltage.
The CBE has instructed local banks to use FX obtained from the interbank market to fund imports rather than to cover overdrawn FX accounts.
According to local news, HRHO has decided to postpone listing its consumer finance arm ValU until next year.
Several local banks have re-applied the mortgage financing initiatives with returns of 3% and 8%, after transferring the initiative to the Ministry of Housing and Urban Communities instead of the CBE.
The 13 draft oil agreements for oil exploration in the Western Desert, Gulf of Suez, and the Mediterranean will bring minimum investments of USD650 million.
Ethydco is currently negotiating to reschedule USD1.25 billion in debts.
The Education Ministry will launch an in-school tutoring scheme across all governorates at the start of the second semester of the academic year next week.
NTRA is currently discussing with MNOs allowing Wi-Fi-supported calls service, which is expected to be implemented during the current year.
Sweden-headquartered outsourcing company Transcom has opened an outsourcing center in Sixth of October’s Smart Village.