The government is pushing ahead with a raft of fresh social protection measures:

• Freezing household electricity prices, postponing the previously planned increases to mid-2023 instead of 2022-end.
• The ration cards package will continue into 30 June 2023, instead of 2022-end.
• The state should distribute an EGP300 bonus next month to employees in the public sector and at state-owned enterprises, and to pensioners.
• Hiking the minimum wage for civil servants and employees at state-owned enterprises to EGP3,000 per month starting next month.
• A clear mechanism for the private sector will be established to compensate and support workers in various distressed companies, with financial support to be disbursed until 30 June 2023.

Minister of Planning and the CEO of Egypt's Sovereign Fund have kicked off a roadshow for the Pre-IPO Fund.

Egypt's exports of food industries declined by 14% YoY to USD2.3 billion during 8M2022.

OCDI 3Q22 sales rose 214.1% y/y and 74.1% q/q to EGP5.1 billion, bringing 9M22 sales up 118.9% y/y to EGP11.8 billion. Net profit in 3Q22 grew 18.6% y/y and 116.5% q/q to EGP141.8 million, bringing 9M22 net profit up 26.7% y/y to EGP433.5 million.

The New Administrative Capital Company intends to resume offering land plots for sale at the beginning of 2023.

CCAP announced that the court has canceled an earlier verdict against CCAP in two cases covering three checks worth a total of USD8.37 million.

Emirati companies are interested in investing USD5 billion in the Egyptian renewable energy, green hydrogen, and water desalination sectors. 

Infinity Power has its sights set in developing a 200 MW wind farm in the Gulf of Suez with an investment cost of USD300 million.

CPCI declared dividends distribution of EGP5.53/share to be distributed on 15 November 2022 and the record date to be on 10 November 2022.

AXPH declared dividends distribution of EGP12.2/share to be distributed on 15 November 2022 and the record date to be on 10 November 2022.

MHOT reported a 92.1% y/y increase in 1Q22/23 net profit before tax to EGP126.8 million.