Net International Reserves registered USD33.4 billion in October, an increase of USD214 million over September. 

The PMI index registered 47.7 last month, climbing 0.1 points from September.

Egypt’s natural gas exports reached 1.5 billion cubic feet per day starting November, up from 700 million cubic feet per day in September. 

The World Bank intends to provide Egypt USD500 million to finance the Takaful and Karama program. 

The European Investment Bank is studying to finance three projects in Egypt in the logistics, food security, and micro financing sectors, totaling EUR527 million in financing. 

Today is the first day of COP27 and Sharm El Sheikh welcomes over 40,000 participants who registered to take part in the event. During the conference, Egypt is preparing to launch a national strategy for green hydrogen, which will add between USD10 billion and USD18 billion to GDP by 2025. 

The Suez Canal Economic Zone plans to establish an investment company to channel finance into projects being established in the zone.

COMI 3Q22 net profit recorded EGP4.41 billion (+26% q/q, +16% y/y), bringing 9M22 net profit to EGP12.16 billion (+23% y/y).

The CBE issued binding regulations designed to promote sustainable finance in the banking system.

MNHD reported 3Q22 sales of EGP3.3 billion, up 445.9% y/y and 83.6% q/q, bringing 9M22 sales to EGP6.7 billion, up 218.4% y/y. Net profit in 3Q22 rose 1314.9% y/y and 173.7% q/q to EGP303.2 million, bringing 9M22 net profit up 113.7% y/y to EGP534.3 million.

Mountain View is close to finalizing the masterplan for the first phase of Heliopark, its co-development project with HELI.

Dubai-based National Paints Holdings has launched a takeover bid for Paint and Chemical Industries (Pachin), submitting a non-binding offer to purchase 100% of Pachin for EGP29 per share.

The G7 have agreed to set a fixed price when they finalize a price cap on Russian oil later this month, rather than adopting a floating rate.

Egypt and Germany signed two declarations of intent in the fields of liquefied natural gas and green hydrogen.

CCAP announced increasing minimum wage to EGP4,000 in net wage per month starting 1 December 2022.

Contractors will break ground on the USD1.8 billion Egypt-Saudi electricity interconnection project on 1 December. A consortium of ORAS and Hitachi ABB Power Grids were awarded the project’s execution contracts by the Egyptian Electricity Transmission Company a year ago.

ORAS has formed an exclusive partnership with COBOD to bring state-of-the-art 3D Printing Construction technology for the first time to Egypt.

Ministry of Planning and Economic Development and Ministry of Trade and Industry are partnering with EFIH to establish Egypt’s Digital Industrial Platform to provide various services to investors in the industrial sector.

Government's dual-fuel car swap scheme rolled out to another five governorates: Ismailia, Sharqiya, Beheira, Beni Suef, and Sohag.

The Board of Directors of the General Authority for the Economic Zone of the Suez Canal approved signing a contract for the construction of a multi-purpose station in East Port Said Port to speed up the pace of work and implementation of the project.