Annual urban inflation slightly accelerated, registering 26.4% YoY in September, up from 26.2% in August. 

Finance Minister Ahmed Kouchouk unveiled the first phase of a package of tax facilities aimed at simplifying the tax system and easing the burden on taxpayers

The revamped export subsidy program aims to enhance transparency by clearly reflecting the allocated budget for it, Investment Minister Hassan El Khatib said. The new program will also prioritize high value-added products and offer more than cash payouts — it will offer land and tax breaks. 

Prime Minister Madbouly said that the IMF's fourth review of the Egyptian economic program, was postponed in agreement with the Fund, to take place after the end of the Fund’s annual meetings in Washington. 

Government sources told press that the government intends to restructure Egypt’s sovereign fund (SFE) and its subsidiary funds, most notably the pre-IPO fund.

Auto sales in August dropped 12% MoM yet increased 25% YoY to record 10k vehicles, according to figures from AMIC. This marks the first fall in total vehicle sales after four consecutive months of monthly increases. 

The cabinet approved a draft presidential decree amending the executive regulations governing private and national universities, splitting the council governing the universities into two, with one governing private and one governing national universities. 

The National Bank of Egypt and Banque Misr decided yesterday, to reduce the interest rate on USD denominated CDs for 3 years by 0.5%. 

Chevron will begin drilling its Singer exploratory gas well in the Mediterranean next month with investments of USD150 million.