Egypt's cast iron and steel exports surged to USD1.74 billion in the first nine months of 2023, up by 65% YoY.

Saudi Arabia is seeking to increase mutual trade with Egypt to USD100 billion.

Egypt is preparing to resume liquefied gas exports,  as the imports of Israeli gas from the Tamar field increased again to levels exceeding the pre-Israeli aggression on Gaza levels, reportedly reaching about 850 million cubic feet per day currently.

The General Authority for the Suez Canal Economic Zone aims to attract USD3.9 billion in foreign investments during the current FY2023/24, compared to USD3.6 billion in the last fiscal year.

If the value of the commodity sold or service provided is paid in a foreign currency, the value-added tax will be paid in the same currency, according to a new article added to the executive regulations of the unified tax procedures law.

The National Green Hydrogen Council approved the National Green Hydrogen Strategy. The strategy targets the Egyptian global share of the global hydrogen market to reach between 5% to 8% and to reduce carbon dioxide emissions by 40 million tons annually by 2040.

Ministry of International Cooperation targets an EUR50 million debt swap during 2024, in the context of NWFE program.

OFH reported 9M23 net profits of EGP54 mn, compared to a 9M22 net loss of EGP106 mn. 

BINV has denied news about dropping its offer to acquire a stake of at least 51% and not more than 90% in OFH.

CCAP plans to inject USD2 billion in new investments in Egypt during the coming two years. 

OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26 as producers struggled to agree on production levels and hence possible reductions.

ARCC BoD proposed a cash dividend distribution of EGP0.262/share for FY22, bringing total cash dividend distributions for the year to EGP0.922/share (DPO 97% and DY 9.1%).