Egypt will sign today several partnership agreements and letters of intent with international finance institutions and development partners to implement projects under its Nexus on Water, Food and Energy (NWFE) program.

The Suez Canal Economic Zone (SCZone) will announce soon the first production of green ammonia at Sokhna Industrial Zone. 

Non-oil exports rose to reach USD27.5 billion during 9M2022, compared to USD24.3 billion during the same period in 202 (13% YoY growth) supported by the growth of chemical and fertilizer exports by 31% to reach USD6.5 billion.

FRA is close to establish a company specialized in settlement of futures and derivatives contracts.

ARCC signed an agreement to amend its 2019 contract with Amarenco SolarizEgypt (ASE) for a 13.2 MW second phase of its solar photovoltaic (PV) plant in its Suez facility. 

The Egyptian Sovereign Fund is preparing to launch several seawater desalination plants that are fully powered by solar energy, in the framework of targeting production of 8.8 million cubic meters per day. The process of receiving qualification documents from interested companies will extend till the beginning of 2024.

Several Gulf-based funds now own 15% of cairo for investments and real estate development company, including the Saudi Arabia Public Investment Fund who owns a stake of less than 5%

Palm hills EGM approved a capital decrease through retiring 39.0 million treasury shares.

El shams for housing and development reported a 66.2% y/y increase in 9M22 revenue to EGP289.3 million and an 89.7% y/y increase in 9M22 net profit to EGP140.8 million.

Alexandria for medicines and chemichal industrials released financial indicators for 1Q22/23 . Bottom line came in at EGP34.6 million in 1Q22/23 (+4.1% YoY, -15.9% QoQ) implying a declining Net Profit Margin to 10.1% (-7 bps YoY, -670 bps QoQ). 

Authorities have released 172k tons of poultry feed worth USD 77 mn from ports in the past five days in efforts to address shortages caused by import restrictions.

Maridive Maritime and Petroleum Services Company has received a second offer to acquire 100% of the shares of its subsidiary, Valentine Marine Works, from Al-Gihaz Holding Company. The offer will remain under study until the completion of the procedural and regulatory aspects.

 Weekly Commodities Update:

| Last Price | WoW Change, %
| Brent, USD/bbl | 98.5 | 4.1%
| Diesel-HSFO Spread, USD/ton | 683.7 | -18.3%
| Egypt Urea, USD/ton | 627.5 | 1.3%
| Polyethylene, USD/ton | 1,160.0 | 0.0%
| Polypropylene, USD/ton | 975.0 | 0.0%
| Steel/Iron Ore Spreads, USD/ton | 452.5 | -3.0%
| LME Aluminum Cash Price, USD/ton | 2,344.5 | 5.0%
| Egyptian Retail Cement, EGP/ton | 1,624.0 | 6.0%
| Steam Coal FOB Newcastle Australia, USD/ton | 349.5 | -2.6%
| SMP, USD/MT | 2,972.0 | -8.6%