The Monetary Policy Committee left rates unchanged, with the decision supported by cooling global and domestic inflation on the back of lower energy prices and better supply chain conditions.
Abu Dhabi National Oil Company (ADNOC), Saudi Petromin, and Emirates National Oil Company (ENOC) are competing for a 20-25% stake in Wataniya.
Egypt’s unemployment rate came in at 7.1% in 1Q23, down 0.1 ppts QoQ and YoY.
Egyptian Central Depository Company has resumed working on the process of linking with the Euroclear platform for the settlement of global debt securities.
The government intends to sign two agreements to establish two green hydrogen production projects at the end of June, with investments of USD1 billion.
Oman’s Sultan is landing in Egypt for an official two-day visit, where six MoUs covering a number of fields including education, taxes, transportation, and aviation will be signed.
The government has made amendments to local accounting standards that allow companies to account separately for losses that came as the direct result of the EGP’s recent devaluation.
TAQA Arabia is starting the procedures to be offered on the EGX. The company's shares will be listed on the EGX soon, while it is still studying if the offering plan will include a capital increase.
The Holding Company for Construction and Development intends to conduct a valuation of its 15.2% stake in MNHD.
According to local media, PHDC is considering obtaining EGP2.0 billion debt.
EFIH 1Q23 net profit reached EGP282 million (+40.7% YoY, +121.6% QoQ).
SPMD FY22 standalone net loss reached EGP139.5 million, compared to FY21 net profit of EGP137.5 million.
The expat car import initiative raised USD900 million, with almost USD370 million of that already transferred to the government.
Indian car manufacturing company Hinduja Group is currently studying the possibility of opening a manufacturing plant in Egypt to be a production and export hub for the MENA region and North Africa.
Red Sea Airlines started operating weekly flights from Kazakhstan’s Almaty and Astana to Sharm El Sheikh.