Egypt's PMI recorded 50.7 in January, up from 48.1 in December, signaling a renewed improvement in the health of the Egyptian non-oil economy at the beginning of the year, on growth in output and sales as well as falling cost pressures to eight-month low.

The government will lease a Turkish floating storage regasification unit starting June and for the duration of the summer, an unnamed government official said. It will cost some USD45 million to lease the unit from June and until November. The unit will liquify some 500 million cubic feet of gas a day for electricity generation in efforts to meet heightened domestic demand during the summer months.

Turkey’s Kipas Textiles plans to invest EGP1 billion to set up its second fabric factory in Egypt, expected to go live before the end of the year, a company representative said.

A consortium of Egyptian, Turkish, and Chinese investors led by homegrown leather manufacturer Fabrica is looking into setting up a EGP200 million industrial complex for leather products. The three partners will hold equal stakes of 33.3% each in the complex, which will focus on export. Construction, facilities preparation, and production lines installation are scheduled to begin next year 

The House will “within days” introduce a draft law scrapping the capital gains tax on EGX transactions and reinstating a stamp tax, as part of measures aimed at boosting investment, deputy chairman of the Budget Committee Yasser Omar said.

Cairo House Egypt inked an agreement with Tourism Investment and Marriott International to turn the Mogamma building into a 500-key Autograph Collection Hotel.

The International Finance Corporation’s full airport privatization plan should be out in the next six months.

The Madbouly government is looking to introduce the unified financing initiative for startups, coordinating efforts between public and private entities to support over 5k startups.

The Ministry of Finance collected more than USD1 billion from Egyptians working abroad as part of the initiative to facilitate the import of expatriates’ cars, up to January-end, an official said.

The CBE has adjusted its mortgage finance initiative for low and middle income groups, its changing income brackets, interest rates, and minimum downpayments. The low-income category, with a monthly net income not exceeding EGP10-12k for individuals and EGP13-15k for households, will be able to get their hands on subsidized mortgage financing at a declining 7.5-8% interest rate. The middle-income category, with a monthly income not exceeding EGP 20k for individuals and EGP 25k for households, can secure financing at a declining 12% interest rate. The minimum down payment for accessing the financing has been set at 20% for both groups.

The Ministry of Finance is considering exempting the banking sector from the tax on international loan returns. The government previously introduced an amendment to Article 56 of the Income Tax Law, canceling the tax exemption that was granted to interest paid to non-residents on long-term international loans exceeding three years, and it is expected to have a significant impact on the ability of Egyptian banks to secure USD financing from foreign markets.

The local consortium setting up the 300k sqm dry bulk terminal in Dekheila Port is expected to deliver it in 4Q25 with investments to reach USD450 million. The consortium includes Mediterraneo Egypt, Latt Trading and Shipping, a SWDY company, and the Transport Ministry’s Holding Company for Maritime and Land Transport.

The European Bank for Reconstruction and Development (EBRD) has sold the last 8.8% it held of ISPH.

CNFN subsidiary, Contact Creditech, announced the launch of its Maestro program,available through the Contact Now application, enabling customers to customize repayment plans.