Weekly Rundown of Top 10 Trending Headlines
Updated 11/8/2024 8:00:00 AMArab Finance: The first week of November has been packed with newsworthy events, from Fitch upgrading Egypt's rating to 'B' to the CBE announcing the country’s net international reserves (NIR).
So, take a look at the most interesting news stories that have been covered from November 3rd to 7th.
Fitch Ratings has upgraded Egypt's long-term foreign-currency issuer default rating (IDR) to 'B' from 'B-', with a stable outlook, citing significant improvements in the country's external finances, fiscal policies, and economic resilience.
The General Authority for Investment and Free Zones (GAFI) has so far granted 37 golden licenses to investors.
The Central Bank of Egypt (CBE) has instructed banks for the first time in two months to allocate dollars for letters of credit (LC) concerned with importing non-essential goods that require pre-approval.
Egypt's non-oil private sector continued to see declining business activity in October.
The Minister of Investment and Foreign Trade Hassan El-Khatib will unveil the state’s updated initial public offering (IPO) program before the end of November.
The Financial Regulatory Authority (FRA) has issued a resolution regulating the trading of government securities and financial instruments on the secondary market.
The General Authority for Suez Canal Economic Zone (SCZONE), SCZONE Istithmar Company, and Intro Group Holding have signed a land usufruct contract to establish a tier III Kemet Data Center in SCZONE.
Eastern Company’s board has set new prices for its cigarette products, applicable as of Tuesday.
Minister of Petroleum and Mineral Resources Karim Badawi has met with Chief Operating Officer Global Natural Resources at Italy’s Eni Guido Brusco to discuss speeding up the development and exploration of natural gas and crude oil fields.
Egypt’s net international reserves (NIR) reached $46.942 billion at the end of October.
