The decision to temporarily suspend some international companies from the list of companies approved to export to Egypt was due to their failure to comply with factory registration requirements. No Saudi products would be blocked from entering the country.

Exporters in the fourth phase of the export-support program will see only 8% deducted from subsidies on shipments made starting July 2021, due to early settlement, down from a previous 15% haircut.

The House of Representatives sent the draft FY2022-23 budget to the budget and planning committee. 

A Russian delegation has visited site of the Dabaa nuclear plant to check up on the progress of groundwork  (ORAS-SWDY-ETRS).

Alexandria Port received a shipment of 5k tons of coal from Russia, as the global commodities shock forces cement producers to diversify from US suppliers.  

Taaleem Management Services Company intends to open the first phase of the hospital at Al-Nahda University in Beni Suef by September 2022 and started leveling the land for Badya International University.

Vehicle owners from Luxor and Aswan can now replace their old, gasoline cars with new dual-fuel engines under the government’s natgas transition scheme. 

DOMT intends to cancel its GDR listing, pending EGM approval.

IDHC signed a contract with Philips International to supply diagnostic radiology equipment to the branches of the new Burg Scan labs. IDHC plans to add 3 more branches to the current 5, within investments worth EGP50 million/branch. 

CLHO added to its board four members representing MCI Healthcare, post recent acquisition.

The 2Africa consortium announced the first landing of the 2Africa cable in Genoa, Italy. The 45k-km cable should be completed in 2024 (ETEL).

CNFN submitted documents for adding the activity of promoting and covering subscriptions in securities.

Thirteen insurance companies submitted their technical and financial offers to the tender initiated by the General Authority for Investment and Free Zones with a total policy value on its assets for EGP4.3 billion. Delta Insurance, Al-Mohandes Insurance (EKHO), and Tharwa Insurance (CNFN) are among the bidders. 

ABUK MD stated that they are about to complete the feasibility study for the project on the Rakta land. The OGM approved the distribution of a DPS of EGP1, down from EGP2, due to the recent rise in production costs (DY of 4.11%).