The World Bank approved a new USD7 billion partnership agreement with Egypt.
The Federal Reserve announced another 25 basis point interest rate hike.
IFC, the Sovereign Fund of Egypt, and the European Bank for Reconstruction and Development have partnered to boost the supply of safe drinking water in Egypt through a public-private partnership.
New and renewable energy budget for FY23/24 is set to be EGP8.4 billion.
GAFI signed an MoU with an alliance of firms to establish Cairo International Financial Center (CIFC) in the New Administrative Capital.
Egyptian expat car imports initiative has brought in USD307 million.
ORAS reported 4Q22 net profit of USD55.8 million, bringing FY22 net profit to USD113.5 million.
SWDY targets a 50% increase in exports in the coming period and intends to establish an industrial area beside the dry port in 6th of October City to facilitate importing and exporting.
HRHO 4Q22 net profit reached EGP813 million (+141% q/q, +63% y/y), bringing FY22 net profit to EGP1,840 million (+18% y/y).
BINV plans to invest EGP500 million in the pharmaceutical distribution and trade industry.
DSCW 4Q22 net profit reached EGP77.2 million compared to EGP14 million in 4Q21 and EGP39 million in 3Q22.
SKPC general assembly approved cash dividend distribution of EGP0.90/share to be distributed over two installments.
EFIC general assembly approved cash dividend distribution of EGP5.00/share to be distributed over three installments.
According to local newspapers, National Paints Holding (NPH) intends to increase its bid offer to acquire PACH.
Brent crude futures rose 1.8% to reach USD76.69/bbl.
Chinese Chen Feng plans to establish an industrial complex specialized in steel and complementary industries with investments of USD300 million in Sukhna.
Ministry of Electricity and Renewable Energy plans to increase the number of installed smart meters to 1.4 million by the end of FY26/27.
The government banned sugar exports for the next three months, except for the surplus with an approval from the Trade and Industry Ministry.
Hilton plans to open two new hotels in Cairo in the summer of 2023.