BANKING-

Foreign reserves inched up again to USD 49.5 bn at the end of September, marking a USD 283 mn increase from August, according to data (pdf) released by the Central Bank of Egypt. The uptick was driven by a USD 1.8 bn increase in gold reserves to USD 15.8 bn, which helped offset a USD 1.5 bn dip in foreign currency holdings. Special Drawing Rights inched up USD 1.0 mn during the month.

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MANUFACTURING-

Amseo Medical Industries plans to invest EGP 1.2 bn by the end of this year to add new lines to its orthopedic supplies production at its Sixth of October factories, as it aims to boost its output and meet rising local and regional demand, Al Borsa reports, citing Chairman Tamer Abuhamella. The money will also go toward setting up a smaller factory to manufacture medical furniture and equipment.

The company also plans to expand in Saudi Arabia with a new subsidiary, having earmarked SAR 10.3 mn for its Saudi expansion next year, which also includes establishing a medical supplies factory.

PPPS-

More PPPs in the pipeline: The government plans to invite bids for six projects under the public-private partnership framework — five to operate transformer stations and power networks in Sadat, Aswan, Mansoura, and 6th of October, as well as a desalination plant in Alamein with a capacity of 180k cbm per day, according to a cabinet statement.

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