MPC meets today. We expect a hike of as much as 200bps, as the CBE keeps an eye on inflation and negative real interest rates.

Minister of Finance said that Egypt is negotiating with the IMF on Extended Fund Facility (EFF), Standby Credit Facility (SCF), and Policy Coordination Instrument (PCI).

Sovereign Fund of Egypt aims to provide attractive investment opportunities for other global sovereign funds through the IPO fund, of size USD3 - 4 billion.

Alhokair is planning to invest around USD135 million in a new renewable energy project in Egypt.

A delegation of Qatari businessmen will visit Egypt next week, amid the Egyptian government's invitation to attract more Qatari capital to the Egyptian market.

Saudi Pharma Company 'Jamjoom' has completed construction of its EGP1 billion pharma factory in El Obour. 

ABUK BoD approved FY22/23 budget with a top-line target of EGP11.425 billion and EBT of EGP4.121 billion (Urea Prices of c.500/ton on average for FY22/23); Taking the steps to build a USD1.2 bn complex on Rakta Land.

EMFD approved entering a partnership to develop a residential/touristic/commercial project on the North Coast with Eagle Hills Egypt through acquiring 25% of Eagle Hills Egypt.

A court ruled was issued in favor of EGTS regarding its right to receivables of USD7.5 million (EGP0.13/share).

A group of Saudi real estate developers are visiting Egypt next week to look at potential investment opportunities.

GB MNT- Halan has acquired B2B e-commerce platform Talabeyah which provides next-day delivery to small merchants and retailers, and helps them manage stock and inventory.

The Consumer Finance Union is negotiating with the Egyptian Credit Rating Company, I-Score, to reduce the cost of inquiry from EGP55 per transaction to EGP10 or EGP15.