The General Authority for Investment and Freezones is looking into setting up a freezone in Minya that would house textile projects from a Chinese investment alliance that is eyeing USD1.5 billion in initial investments.

The Finance Ministry will launch an electronic tax system for clearing investors’ receivables and debts next month.

Net foreign assets of the CBE were almost flat at EGP592.469 billion (c. USD11.7 billion) by the end of December 2024.

The FRA issued a decree determining the minimum capital for insurance companies. The Authority obligates insurance companies to raise the minimum issued and paid-up capital in two stages over two years to reach EGP400 million in the first stage within one year, and in the second stage to EGP600 million by the end of the second year.

NTRA is set to launch WiFi calling services in Egypt today. The new service will enable mobile phone users to make high-quality voice calls over internet connections, rather than via mobile networks.

ESRS general assembly approved the issuance of corporate guarantees in favor of subsidiaries, sister companies, and related companies at a maximum of USD500 million or EGP equivalent. 

According to local media, HELI plans to develop a project on 25 feddans in New Heliopolis, with expected investment of EGP1.8-2.0 billion. The project is expected to generate sales of EGP4.0 billion.

Social Impact Capital (SIC) will soon have increased its stake from 51.2% to 88.7% in CIRA. The additional 37.5% stake will officially transfer to SIC upon the completion of the Mandatory Tender Offer.

Organi Group targets establishing a USD100 million chlorine pellets factory that will mark the Middle East’s first facility producing the swimming pool cleaner when it starts operations in 2025. 

The General Petroleum Company plans to drill 41 new oil and gas wells and repair or recomplete 39 others as part of its FY25/26 investment budget.

MICH posted EGP314 million in 1H24/25 net profit, a 12% YoY growth, supported by a 14% YoY growth in revenue to EGP528 million in 1H24/25.

Alamal Alsharif Plastics is expected to make its EGX debut through a direct listing in 2Q25. The listing will reportedly see the government-owned National Investment Bank divest its entire 29.5% stake in the company.

Weekly Commodities Update
 |   | Last Price | WoW Change, %
| Brent, USD/bbl | 80.8 | 1.30%
| Diesel-HSFO Spread, USD/ton | 302 | 8.60%
| Egypt Urea, USD/ton | 431 | 1.70%
| Polyethylene, USD/ton | 940 | 0.00%
| Polypropylene, USD/ton | 953 | 0.00%
| Iron Ore 65%, USD/ton | 122 | 1.10%
| Steel/Iron Ore Spreads, USD/ton | 370 | -1.00%
| LME Copper Cash Price, USD/ton | 9,082 | 1.00%
| LME Aluminum Cash Price, USD/ton | 2,674 | 4.50%
| Egyptia Retail Cement, EGP/ton | 2,847 | 0.00%
| Steam Coal FOB Newcastle Australia, USD/ton | 117 | 3.30%
| SMP, USD/MT | 2,682 | 0.00%
| Last price may vary week over week in some indices due to time difference