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Update: 2022-10-04
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The IMF should reach staff-level agreements on “sizeable” loans to Egypt and Tunisia “very soon," IMF Managing Director Georgieva told Reuters. 

Egypt’s PMI recorded 47.6 in September, unchanged from that seen in August. Output and new business fall sharply, Overall input costs rise at a marked pace, but Headcounts expand for the third month in succession. 

The EGP yesterday registered 19.67 against the USD.

The World Bank has approved a USD 400 mn financing agreement to boost the transport and logistics sectors in Egypt.

Prime Minister issued a decision to amend the executive regulations of the capital market law, to regulate the issuance of sustainable development bonds.

A subsidiary of STC has acquired BINV’s stake in Giza Systems (44.7%) for USD53 mn before deductions or c.USD44 mn after deductions. This translates into EGP860 mn for BINV or EGP5.37/BINV share. 

HRHO’s Corp-Solutions will provide leasing and factoring services to education providers in local fintech startup Klickit’s network. 

CANA arranged for Fresh Appliance manufacturer ST financing of EGP450 million, using CBE initiative to support the industrial sector at 8%.

Four automotive producers showed interest in launching projects to manufacture electric vehicles in Egypt: Nissan Egypt, General Motors, Stellantis, and BYD.

CIRA BoD decided to distribute dividends of EGP0.21/share (DY 1.79%). 

Suez Canal Economic Zone signed an agreement with Kuwaiti’s Agility to set up and operate two customs and logistics services hub in Ain Sokhna and East Port Said with an investment of USD60 million. 

 

 

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