GAFI to break ground on Nuweiba freezone this Saturday: The General Authority for Freezones and Investment (GAFI) expects to break ground on the Nuweiba freezone on Saturday, Red Sea Ports Authority spokesman Malaak Youssef said. The 1 mn sqm zone is expected to see as much as USD 40 mn in infrastructure-related investment, South Sinai Governor Khaled Fouda had previously said.

The Finance Ministry will present the House with a report this week on the government’s ‘private accounts’ (or slush funds, as we prefer to see them).

A shuffle of governors could be announced by the end of this week

Next tranche of IMF loan in July? The IMF’s executive board will meet on 29 June to decide on the fourth USD 2 bn tranche of Egypt’s USD 12 bn extended fund facility.

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