The government will offer EGP10 billion worth of loans at a subsidized 11% interest rate to tourism players.

Moody's said that Egypt's assets sale development is slower than expected.
 
Imports worth USD23 billion have been released from Egypt’s ports since January.
 
Russia will not allow the Ukraine Black Sea export deal to continue beyond May 18.
 
The government allocated EGP397 billion in the FY23/24 budget to be spent on health, which is 30.4% higher than FY22/23 figure.
 
Reserve money (MO) increased to EGP1.502 trillion in March 2023 from EGP1.476 trillion in February 2023.

The FRA has given listed companies an extension until Tuesday, 30 May 2023, to report and publish their financials for the period ending 31 March 2023.

Hotel occupancy rate in Egypt increased 20%-25% y/y in 1Q23. Hotel occupancy rate in Cairo reached 85% during 1Q23, followed by Luxor and Aswan (80%), Marsa Alam (70%), Hurghada (65%), and Sharm El Sheikh (55%).

The FRA stated that the deadline for receiving offers on PACH was 19 April 2023, while the submitted offer from National Paints (EGP39.8/share) is valid until 2 May 2023. 3.3% of the shareholders approved National Paints’ offer, while no one responded to Eagle Chemicals’ offer which stood at EGP39.00/share.

Brent crude dropped to USD77.69/bbl on Wednesday.

The President approved the agreement with the French Development Agency regarding a loan of EUR250 million, over two tranches, for the construction of the Abu Qir metro in Alexandria.