The IMF now expects the Egyptian economy to expand at a 5.9% clip in FY 2021-2022, and 5.0% in FY 2022-2023.

The IMF pointed out in one of its meetings that Egypt has obtained a "rapid financing", with no further details.

The IMF revised its projection for global growth from an estimated 6.1% in 2021 to 3.6% in both 2022 and 2023.

Minister of Finance formed a committee headed by the Minister of Planning to assess external borrowing and control its growth within the narrowest limits.

The government will sign an MoU with the green fuel alliance “EDF Renewables of France and Egypt’s Zero Waste” to establish a project to produce green ammonia to supply ships with green fuel.

Minister of Transport revealed Egyptian-Qatari plans to implement major projects in the field of ports and maritime transport, green, and electric transport.

ORHD raised real estate selling prices by 10% in O West and 6% in El Gouna which is lower than the increase in cost of building materials but raised its EGP/USD cap rate in El Gouna to 19.75.

Alpha Oryx (ADQ) has no intentions for a shake-up in the bank’s management; board priorities include strengthening market position and governance initiatives.

Insurance companies’ gross premiums amounted to EGP8.4 billion during the first two months of 2022 (+10.2% YoY).

Vodafone Egypt is planning to acquire another 10% stake in each of Bee and Masary after receiving regulatory approvals from CBE.

Most of the companies participating in the state’s natgas vehicle swap scheme have submitted requests to raise their prices (10% is the max).

The Chinese passenger car brand "BYD" agreed to manufacture its electric and hybrid models in Egypt through their local agent "Al Amal."