Emerging-market equity and bond funds saw a record USD12.7 bn in inflows last week as China’s relaxation of its covid-19 curbs continues to drive optimism.
Foreign investors are once again looking at Egypt’s debt market on the back of a cheaper EGP and record-high yield.
The Bank of Russia last week approved the EGP as a trade currency, raising hopes in Egypt to make it easier to import from Russia, with less pressure on Egypt’s USD reserves.
Cairo International Airport welcomed a group of Chinese tourists on Friday. EgyptAir will resume flights to China in March after Beijing eased its covid-19 travel curbs.
GAFI plans to launch in early April an electronic platform to make it easier to set up a business.
Prime Minister headed the first meeting of a committee formed to implement the state ownership policy document on Thursday.
The founder of Juhayna and his son have been reportedly released.
GB Capital has finalized an agreement to indirectly sell 45% of its leasing business, GB Lease, to Chimera Investments for EGP855 mn. GB Capital will have a controlling 55% stake in the company, which the transaction values at EGP1.9 bn.
According to local media, HELI intends to offer the 945 feddan second phase of Heliopark to Gulf investors for co-development. This follows the 750 feddan first phase of Heliopark co-development agreement with Mountain View.
BINV is planning to invest EGP2 bn in the healthcare and food sectors in 2023, where the healthcare company transaction is expected to close in 1Q23 while the food sector company acquisition is expected to close in 2Q23.
Valu intends to issue securitization bonds worth EGP4.5 bn in 2023. The company is working to issue securitization bonds worth EGP1.1 bn in 1Q23, followed by three other issuances with values ranging between EGP1.1- 1.2 bn per issue.
The Egyptian Company for Mortgage Refinance notified companies offering mortgage finance to postpone utilizing the low-return initiative.