Egypt's PMI recorded 49.7 in July, down from 49.9 in June. The July reading is the second-highest in almost three years.

Customs collections from the expatriate car program increased to more than USD850 million by the end of last July. 

Chinese smartphone maker Honor is reportedly considering setting up a factory to produce its devices in Egypt, with initial investment of USD10 million.

Cabinet’s National Center for Planning State Land Uses and the Federation of Egyptian Industries are looking into allocating 43 plots of land in 16 governorates for new industrial zones. 

A consortium of state-owned companies plans to construct a USD40 million pipeline to transport imported liquified ethane gas derived from US shale gas from Alexandria's Dekheila Port to SKPC and Ethydco.

According to local media, Al Amal Al Sherif for Plastic will be directly listed and traded on the EGX without an IPO as the company's shareholders currently amount to 300 shareholders excluding the government stake. The listing and trading are targeted to be finalized before the end of the year.

PHDC (FV: EGP7.11, OW) established a company in Saudi Arabia and appointed Magued Sherif as the company's CEO.

ISPH refuted reports that it is under pressure from creditors to sell assets to settle overdue debt.

MNT-Halan is currently negotiating with several banks to obtain credit facilities worth EGP20 billion for the current year.