Prime Minister and CBE Governor discussed some proposed measures, within a specific time frame, to deal with the current economic situation to ensure complete integration and coordination in financial and monetary policies. 

According to the medium and long-term external debt repayment schedule, Egypt must repay USD8.57 billion during 2H2022 and USD 9.33 billion in the 1H2023. Egypt is also scheduled to pay international institutions about USD2.4 billion in 2H2022 and USD3.6 billion in 1H2023.

The government has received new offers for Gulf and foreign investment in green hydrogen projects in Egypt, with investments amounting to USD2.8 billion. 

Another 63k tons of Romanian wheat arrived at Damietta port yesterday. 

Hotel occupancy rates in Hurghada and Sharm El Sheikh are currently witnessing a recovery, with occupancy rate reaching 93% in Hurghada and 73% in Sharm ElSheikh.

SWDY will supply equipment for a transformer station at the New Delta project worth a combined EGP1.1 billion. SWDY is currently trading at 2022e P/E and EV/EBITDA of 5.2x. 

The holders of 32.47 million shares of DOMT responded to the tender offer submitted by "Expedition Investments", or 12% of the total shares out of 33% requested.

The Holding Company for Food Industries raised its stake in Al Fayoum Co. for Sugar to reach 20% after acquiring 17%, with a deal value of EGP305 mn. This implies an average P/E of7.2x and P/S of 1.2x, compared to 3x and 0.5x for Delta Sugar, respectively. SUGR owns a 26.83% stake in Fayoum Sugar.

Giza Systems, which is 44.7% owned by BINV won the tender to implement and manage the Intelligent Transportation within the New Administrative Capital, in partnership with the Ministry of Military Production. 

EMFD acquired 25.0% of Eagle Hills Egypt, its partner on the Soul project on the North Coast, at par value.

CSAG released FY21/22 bottom line at EGP185.5 million in FY21/22 (-7.3% YoY). CSAG is trading at a FY21/22 P/E of 13.5x.