Endowments of registered local charities will only be required to set aside a maximum of EGP 5 mn, or 2% of local funds, to remain uninvested for institutional activities under a new decree by the Financial Regulatory Authority that places caps on the size of the reserve funds required for a fund to begin operating.

Hassan Allam Construction has been awarded a new contract for an infrastructure project in Toshka, comprising 180 km of road networks and 265 km of irrigation canals.

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