Egypt’s economy is expected to grow at c.6-7% in 2Q21/22 and end FY21/22 with a GDP growth rate of 5.5% to 5.7%

Suez Canal recorded the largest monthly revenues and net tonnage in November, of USD571.3 million and 113.5 million tons, respectively

Egypt and Russia are in talks to establish a joint company to supply grains to Egypt and improve its food security

Financially distressed SMEs will be given more time — and more avenues — to settle their debts under a new initiative from the CBE to support SMEs in weathering the pandemic repercussions

Egyptian Tax Authority will start today phase 5 of the e-receipt implementation by including 3,737 companies into the platform (EFIH)

Steel manufacturers interested in the new steel licenses from Industrial Development Authority (IDA) want the authority to slash the license prices, requested a more flexible time frame, asked for a contractual freeze on gas and electricity prices, and break on the cost of land

MNHD AGM approved the IFA report valuing MINKA and EgyCan at a total shareholder equity value of EGP232.0 million; the EGP374.4 million capital increase through a rights issue and setting up an ESOP

OCDI will have a new board of directors next month, and Aldar has no plans to delist OCDI from the EGX nor change OCDI’s branding

Samih Sawiris is stepping down from his role as Orascom Development Holding chairman and handing the torch to his son, Naguib Sawiris

Danone is looking to invest EGP1 bn over the next fives years