Trade deficit amounted to USD2.08 billion in January, compared to USD3.32 billion for the same month in 2023, a decrease of 37.2%.
The Italian "Eni" revealed that it spent USD230 million in 2023 on the development works in Zohr Field, bringing its total expenses on the field to USD6.2 billion.
The government discussed main criteria for establishing new special free zones, including the type of the activity, size of employment, exported portion of the output, dependence on local input, and others.
Authorities are in talks to lease a floating storage regasification unit (FSRU), with plans to dock the terminal at the Gulf of Suez.
The government has developed a mobile application to enable users to view and report commodity prices.
Customers have sold nearly EGP10.5 bn worth of foreign currency at the National Bank of Egypt’s, Banque Misr’s, and Banque du Caire’s foreign currency exchange bureaus since the float of the EGP.
The Real Estate Tax Authority targets EGP8 billion in revenue in the next fiscal year.
Expats have until Monday, 29 April to register for the expat car-for-FX initiative.
The government is embarking on a project to make Greater Cairo a more attractive tourist destination.
El Sisi promised to continue implementing economic reforms based on “the localization of industry, expansion of the agricultural area, increase of foreign direct investment, and support for the private sector, while providing the necessary social protection measures for the most vulnerable classes.”
ESRS (FV: EGP97.02, OW) reduced its local rebar and flat steel prices by 12% and 17% to EGP40.7k/ton and EGP41.7k/ton, inclusive of 14% VAT.
The study of the technical and financial offers submitted for the rehabilitation of EGAL's facility is expected to take one month, according to local media.
EFID declared cash dividends of EGP0.43/share for FY23, implying dividend payout ratio of 18.4% and dividend yield of 1.3%. Dividends will be distributed on April 24, 2024 and record date to be on April 21, 2024.
ABUK and Helwan Fertilizers submitted a request for the government to revise the subsidized fertilizers prices due to the higher production cost after floatation.
Investment management firm Act Financial is looking to raise EGP700 mn selling off a minority stake next month. EGP 500 mn will come from the sale to investors via private placement and the remaining EGP 200 mn will come from the public offering.
The Cairo Twenty-Four website stated that Kuwaiti investors submitted an offer to acquire Banque du Caire.