Round-up of Top 10 Headlines in November's 2nd week
Updated 11/15/2024 9:00:00 AMArab Finance: The second week of November has been laden with compelling news headlines in Egypt, from the state awarding four oil and gas exploration blocks to international companies as part of the latest bid round to the Ministry of Electricity setting tariffs for solar energy produced and stored with battery systems.
The following is a rundown of the top 10 news stories of the week.
1-Egypt awards 4 oil exploration blocks to international firms in latest bid round
The Egyptian General Petroleum Corporation (EGPC) has awarded four oil and gas exploration blocks to international companies as part of the latest bid round.
2-Egypt sets tariffs for solar energy storage
The Egyptian Ministry of Electricity and Renewable Energy has introduced tariffs for solar energy produced and stored with battery systems, marking a key step in supporting renewable energy investment.
3-CBE withdraws record EGP 1.37T in liquidity to counter inflation
The Central Bank of Egypt (CBE) has withdrawn a record EGP 1.369 trillion in excess liquidity from the banking system through its weekly fixed-return deposit auction.
4-Egypt’s annual headline inflation falls to 26.3% in October: CAPMAS
Egypt's annual headline inflation dropped to 26.3% in October 2024, compared to 38.5% in the same month of 2023.
5-Egyptian government denies requesting IMF’s 4th loan tranche increase to $2B
The Egyptian authorities did not request an increase in the fourth tranche of its loan program with the International Monetary Fund (IMF) to $2 billion.
6-FRA amends listing rules for carbon emission reduction certificates on EGX
The Financial Regulatory Authority (FRA) has amended the regulations governing the listing and delisting of carbon emission reduction certificates on the Egyptian Exchange (EGX).
7-ECA approves 7 major acquisition deals
The Egyptian Competition Authority (ECA) has approved seven significant acquisition deals, allowing domestic and international companies to invest in various local sectors.
8-Egypt launches ESAF company to drive green energy transition
Minister of Petroleum and Mineral Resources Karim Badawi led the inaugural assembly of the new company for electro-sustainable aviation fuel (ESAF) production via video conference.
9-The United Bank sets price range for IPO on EGX
The United Bank has set an indicative price range for its forthcoming initial public offering (IPO) on the Egyptian Exchange (EGX) between EGP 12.70 and EGP 15.60 per share.
10-Telecom Egypt, Vodafone Egypt ink EGP 30B agreements for network expansion, 5G rollout
Telecom Egypt and Vodafone Egypt have signed a series of major infrastructure service agreements worth EGP 30 billion aimed at enhancing Vodafone Egypt’s network and preparing it for the rollout of 5G services.
