Lineup of 10 Top News Stories of July’s 3rd Week
Updated 7/19/2024 9:00:00 AMArab Finance: The third week of July has been a busy news week in terms of news, with the government unveiling its updated work program for until FY 2026/27 and EGAS announcing receiving 5 LNG shipments.
The following are snippets of the top 10 stories posted over the past week.
The Egyptian government has introduced its updated work program document for until the fiscal year (FY) 2026/2027 outlining key objectives.
Egyptian Prime Minister Mostafa Madbouly announced that the country will stop reducing electrical loads from next Sunday, July 21st, until the end of the summer.
The International Monetary Fund (IMF) has slashed its forecast for Egypt's real gross domestic product (GDP) growth by 0.3% for both the previous and current fiscal years (FYs).
Egypt and Serbia have sealed a free trade agreement to strengthen bilateral economic and trade cooperation.
The Suez Canal revenues dropped by 23% year on year (YoY) to $7.223 billion during the fiscal year (FY) 2023/2024, compared to $9.399 billion.
Shalateen Mineral Resources has increased its gold deliveries to the Central Bank of Egypt (CBE) by approximately 23% year on year in the first half (H1) of the year.
The Egyptian Natural Gas Holding Company (EGAS) has received five shipments of around 155,000 cubic meters of liquified natural gas (LNG) on board two regasification ships at Sumed port in Ain Sokhna and Aqaba port.
Egypt Green Hydrogen Project located in the Suez Canal Economic Zone (SCZONE) has secured a €397 million contract under the German-government backed H2Global Foundation’s auction to supply renewable ammonia to the European Union (EU) countries.
Eastern Company’s board has set new prices for its cigarette products, applicable as of Friday, July 12th.
Nokia has partnered with Telecom Egypt to introduce the 5G technology to Egypt for the first time.
