Hassan Abdalla was appointed as Acting Governor of the Central Bank of Egypt (CBE).
The CBE left interest rates on hold on Thursday, in line with our expectations.
Cabinet has given its approval to pay EGP10.0 billion out to exporters in the fifth phase of its program to repay overdue subsidies.
Cabinet approved a EUR250.0 million loan from the European Bank for Reconstruction and Development to finance Cairo Metro Line 2 upgrades.
MFPC 2Q22 net profit registered EGP1.6 billion, down 21% QoQ and up 33% YoY, taking 1H22 net profit to EGP3.7 billion, up 72% YoY.
PACH OGM is scheduled to convene in September for shareholders’ opinion on Sipes’ and Saybad’s acquisition offers.
The CBE approved the Saudi Public Investment Fund's offer to buy the entire shares of the United Bank.
OFH aims to establish a venture capital fund in the field of technology, with an initial size between EGP300-500 million. It is also interested in obtaining a digital bank license.
The Saudi Public Investment Fund intends to invest in MPRC.
The Holding Company for Construction and Development acquired an 8.3% stake in ZMID.
Mobile phone sales recorded a decline of around 25% YoY during 1H2022 to stand at 6.14 million devices.
The Trade and Industry Ministry is launching a tender for three industrial complexes comprising 1k units in Upper Egypt next week for micro, small, and medium enterprises.
SCZone's Main Development Company and DP World have signed an agreement to build an USD80 million logistics zone at Sokhna port.
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