Arab Finance: With the resumption of work on May 7th, following Sham El-Nassim, we have got you covered with the most recent significant news in Egypt.
From Egypt’s annual headline inflation in April reported by CAPMAS to the country’s released non-oil private sector survey data by S&P Global, the three-day period ended May 9th have been jammed with major news stories, with the top 10 headlines as follows:
Egypt's annual headline inflation slightly declined to 31.8% in April, versus 33.1% in March.
Egypt's non-oil private sector sustained its downturn through April.
Prime Minister Madbouly has directed the initiation of a community dialogue on the proposed tax policy document for Egypt for 2024-2030.
Egypt’s net international reserves (NIR) jumped to $41.057 billion at the end of April.
The Central Bank of Egypt (CBE) is set to launch the Digital Financial Identity Company in the second half (H2) of 2024.
The Egyptian government has approved the establishment of a specialized international tourist seaport in Ras El Hekma aimed at accommodating yachts and cruise ships.
CEO of the General Authority for Investment and Free Zones (GAFI) Hassam Heiba and CEO of Credit Agricole Egypt Jean-Pierre Trinelle have inked a memorandum of understanding (MoU) aimed at fostering foreign direct investment (FDI) into Egypt.
Cairo Capital Securities (CCS), the brokerage arm of Cairo Financial Holding, is planning to launch the Nile Industrial Direct Investment Fund (NIDIF) in May, in cooperation with the National Initiative for Developing Egyptian Industry (Ebda).
The Egyptian Natural Gas Holding Company (EGAS) has signed a contract with Norway's Höegh LNG to rent the Höegh Galleon floating unit for liquefied natural gas.
Egypt's government debt to gross domestic product (GDP) ratio rose marginally to 81.4% in the first quarter (Q1) of 2024 from 80.5% in Q1 2023, Asharq Business reported on May 8th.