Egypt's total public debt declined by about 2.1% during the last quarter of FY23/24 to EGP12.52 trillion.

The European Bank for Reconstruction and Development (EBRD) raised Egypt’s growth forecast for 2025 to 4.5% from 4.4%.

The Central Bank of Egypt intends to launch a version for commercial transactions via InstaPay for transactions between individuals and merchants.

The Ministry of Transport has begun talks with international financing institutions to obtain financing of up to USD300 million to finance the extension of the third metro line to Cairo International Airport.

President Abdel Fattah El Sisi has directed the government to scrap the construction licensing requirements put forward in 2021 and reinstate the full provisions of the 2008 Building Law and its executive regulations. The decision will ease barriers to accessing building permits and support and energize the construction sector in the process, Qasem added. 

EAST’s general assembly approved cash dividends of EGP2.7/share for FY23/24, implying dividend payout ratio of 88.2% and dividend yield of 10.4%.

POUL's general assembly approved cash dividends of EGP0.85/share for FY23, implying dividend payout ratio of 28.0% and dividend yield of 8.1%.

ABUK's general assembly approved distributing cash dividends of EGP7.5/share over three installments, implying a dividend yield of 12.2%. 

CIRA’s BoD approved cash dividends of EGP0.26/share for FY23, pending general assembly's decision on 15 October 2024. This implies dividend payout ratio of 120% and dividend yield of 1.9%.

 RMDA (FV: EGP3.97, OW) achieved strong sales in August 2024, with a YoY increase of 73% compared to the average pharmaceutical market YoY increase of 45%. Volume increased by 20% YoY. This assures our positive outlook for 3Q24 results. 

According to local media, MASR (FV: EGP5.24, OW) is taking out a EGP9.0 billion loan.