The government is planning to add another 450k family to the Takaful and Karama and raise the personal income tax exemption threshold to EGP 2.5k from EGP 2k.

GASC canceled the tender to purchase an unlimited amount of wheat, due to high prices, reaching USD443 per ton.

Egypt's exports of natural gas jumped by 406.5% YoY to USD2.8 billion in 1Q22.

Russia and Ukraine are approaching an agreement that will see Russia releasing 22 mn tons of wheat, corn, and other commodities trapped on the Black Sea coast.

OCDI is not in the process of revising the indicative purchase price for MNHD.

Chimera’s bid to acquire up to 90% of BTFH received FRA’s stamp of approval.

The Ministry of Electricity intends to finalize the agreement with the “Toyota-ORAS- ENGIE” consortium and “Siemens Gamesa” to establish wind farms with a total capacity of 1,000 megawatts before the end of this year. The investments in the two projects are expected to reach EUR1.2 billion and will be implemented over phases.

FRA gave the nod for SWDY to proceed with its decision to decrease its capital by retiring 13.4 million treasury stocks.

Bahrain-based payment solutions provider Arab Financial Services (AFS) plans to expand to Egypt. 

COMI has completed the first issuance of the bonds of AUTO’s Drive, with a value of EGP700 million.