Remittances hit a record high in FY2021/22, rising 1.6% YoY to USD31.9 billion. During the period from April through June 2022, remittances increased by 3% YoY to record about USD8.3 billion.

GASC bought 240,000 tons of Russian wheat directly from suppliers for delivery in September, October, and November. 

Minister of Trade and Industry will hold a meeting with the CBE Acting Governor to discuss the most prominent problems facing the industrial sector.

The Ministry of Supply obligated rice farmers to supply 25% of their crop in the new harvest season.

Egypt Kuwait Holding Co and Egypt Kuwait Holding EGP will not be deleted from the FTSE Global Equity Index Series Mid Cap Index.

EGCH 4QFY21/22 net profit amounted to EGP207 million, up 38% QoQ, and compared to a net loss of EGP405 million in 4QFY20/21, bringing FY21/22 net profit to EGP689 million, compared to a net loss of EGP1.424 billion in FY20/21.

Only e-invoices will be accepted as proof companies have paid VAT on goods and services starting in April 2023.

Arqaam Securities intends to submit an offer to acquire Prime Holding at EGP0.945/share. 

HELI aims to sign the final contract with Mountain View for the co-development of the Heliopark land plot before the end of 2022.