The international reserves at the CBE inched up by USD71 million to record USD35.17 billion in November.

The Managing Director of the IMF expects the fund to increase the value of the loan provided to Egypt due to the impact of external factors on its economy. 

The Emirati energy company Mubadala is seeking to inject new investments in Egypt. The new investments will be in energy and decarbonization projects.

The government raised the estimated subsidies for petroleum products in FY2023/2024 by about 9% to EGP130 billion, due to higher cost of petroleum products amid higher FX.

The National Investment Bank (NIB), which hold a 9.57% stake in MCQE (FV: EGP22.36, EW), plans to exit the company through an offering on the Egyptian Exchange, according to local press.

Kima is currently negotiating with a consortium of local banks to borrow EGP4 billion to restructure and develop the company's factory in Aswan. The loan will include a foreign currency tranche. 

SKPC’s BoD approved 2024 capital budget with EGP2,794 million, which include the contribution to the capital of the Egyptian BioEthanol Company (EBIOL) and contributing to the joint project to establish a Combined Heat & Power (CHP) project with EBIOL.

ABUK sent a release regarding the study of the proposal to increase ABUK’s share in Alexfert with the value of the land plot owned by ABUK and rented to Alexfert (where the company is located). The BoD decided on continuing to rent the land to Alexfert instead of converting it to an in-kind contribution in the latter’s capital.

The FRA has introduced a group of regulatory changes aiming to minimize risks in the financial system. 

BTFH’s leasing and factoring arm has a new leasing agreement worth EGP480 million with a subsidiary of TBS Holding. 

Sarwa Insurance, CNFN’s arm is planning to bring its paid in capital to EGP250 million over 2024, up from EGP100 million. The increase will support the company’s expansion plans over the next 5 years and will support the capital position as per the new insurance law.

B Healthcare Investments Company is planning to acquire medical centers specializing in reproductive health in 2024. 

Five international firms have reportedly qualified for a USD400 million tender to install the signaling and control systems for the Cairo-Alexandria freight railway bypass.