Rundown of Top 10 News Stories in July’s 4th Week
Updated 7/24/2024 12:04:00 PMArab Finance: The fourth week of July has been loaded with newsworthy events in Egypt, from the announcing the country’s external debt at the end of May to the EGX revealing its plan to list 11 firms before year-end.
The following is a recap of the top 10 viral news stories covered throughout the week.
Egypt's external debt has seen its biggest drop in history, decreasing by over $14.17 billion from $168.03 billion in December 2023 to $153.86 billion at the end of May.
The Financial Regulatory Authority (FRA) has issued requirements for brokerage firms aiming to trade carbon emission reduction certificates.
Egypt's strategic reserves of wheat supplies are expected to last for approximately 7 months.
The National Telecom Regulatory Authority (NTRA) has issued regulations governing the use of mobile lines to conduct promotional and commercial calls.
Prime Minister Mostafa Madbouly met with Minister of Petroleum and Mineral Resources Karim Badawi to discuss enhancing Egypt’s energy sector through international collaboration and investment.
Azimut Egypt has launched its shariah-compliant investment fund.
The Information Technology Industry Development Agency (ITIDA) has signed a memorandum of understanding (MoU) with DXC Technology Egypt to boost cooperation in the software industry.
UK-based oil and gas firm bp Plc is drilling two natural gas and condensates development wells at its West Raven field, one of the offshore West Nile Delta fields, with investments estimated at $200 million.
The subscription to Act Financial's capital increase was 54.76 times covered through public placement, representing 3.286 billion shares, at a value of EGP 9.528 billion.
The Egyptian Exchange (EGX) is currently working on listing 11 new companies, including eight on the main market and three on the NileX, before the end of 2024.
