Cabinet approved the non-compliance of fertilizer companies to provide another 10% share of their production, other than the 55% subsidized quota, to the local market until May 1st; Companies are now allowed to export 45% of their production

Electricity and energy generation stations have expanded the use of mazut, as an alternative fuel to natural gas in power plants, beyond March 2022

Norwegian renewable energy giant Scatec plans to build a green ammonium plant in Egypt

Former EGPC head Abed Ezz El Regal was appointed as the chairman and managing director of Abu Qir Fertilizers

RAYA reported 2021 net profit of EGP487.3 million compared to net attributable losses of EGP61.7 million in 2020; recording a gain on disposal of investments in subsidiaries of EGP327.7 million

RAYA’s BoD approved the establishing of Aman-Taqa for Digital Payments with Taqa Arabia (CCAP), with an issued capital of EGP20 million

Tourism companies intensified marketing efforts with foreign tour operators in Western Europe and East Asia to increase tourist arrivals from those regions until next May

Cargoes totaling 189k tons of Ukrainian, Russian and Romanian wheat are on their way to Egypt

Local farmers are calling on the government to raise local wheat prices by 22% to EGP1,000 per ardeb, for them to meet production targets

The government will subsidize private bakeries by selling flour at a discounted rate

CBE decided to extend the exclusion period for rice, lentils, and fava beans from their 100% cash cover for another year, to end March 15, 2023

Misr Insurance Holding is looking to list 25% Misr Life on EGX during 2H2022; Tapped Zaki Hashem as legal advisors for the process