CBE is expected to raise rates by 200-300 bps at its MPC meeting this Thursday.
IMF: Preparations for the first Egypt review have started and dates for the first review mission will be announced when they have been agreed upon with the Egyptian authorities.
Kuwait has extended the tenor of a USD2 billion deposit with the CBE for one year to September 2023.
IFC can help the Egyptian government implement its privatization program, or give advice in terms of defining what the right structure is, how to pitch to private-sector investors, and in the bidding and selection process.
Chinese company Xinxing Ductile Iron Pipes plans to build a USD2 billion iron and steel plant in the Suez Canal Economic Zone.
Ethiopian authorities said that 90% of the construction work on the Grand Ethiopian Renaissance Dam (GERD) is now complete.
The National Council for Wages will meet this month to discuss raising the private-sector minimum wage, maybe to EGP3.5k a month.
ORHD and OCDI ended talks regarding OCDI's offer to acquire ORHD's subsidiary, Orascom for Real Estate, owner of the O West project. According to local media, Aldar Properties, OCDI's majority shareholder, is exploring new investment opportunities in Egypt through OCDI.
National Paints Holding raised its offer to acquire PACH to EGP36.00/share.
EFID will buy back 7.23 million shares at EGP14.50/share.
ADP signed an MoU with the Suez Canal Economic Zone to develop and operate a multi-purpose container terminal in East Port Said Port. The company aims to have the first phase of the project up and running in 2Q24.
Suez Canal Authority intends to list 20% of the shares of its subsidiary, Canal Mooring and Ship Lights, as part of the government’s privatization program.