The EGX30 fell 2.5% at today’s close on turnover of EGP 5.3 bn (16.3% below the 90-day average). Local investors were the sole net buyers. The index is up 14.7% YTD. In the green: Heliopolis Housing (+1.5%) In the red: E-finance (-5.4%), Kima (-5.1%), and Ibnsina Pharma (-4.9%).
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🗓️ FEBRUARY 24 February - 14 March (Tuesday-Saturday): Ramadan Premium Market at the Arena, Cairo West. 28 February - 11 March (Saturday-Wednesday): Qahrawya Iftours. MARCH 3 March (Tuesday): Angham at Al Mashrafia tent, the Grand Egyptian Museum. 6 March (Friday): The Women’s Night 5K Race with Cairo Runners at Promenade, New Cairo. 6 March (Friday): […]
EGP slides amid talk of incoming US attack on Iran
Good morning, friends. We bring the first full workweek of Ramadan to a close with news that the IMF approved the fifth and sixth reviews of our USD 8 bn loan program, putting a USD 2.3 bn disbursement within our eyesight. ALSO- Egypt is preparing for a major return to international debt markets with a […]
Somabay at ITB Berlin 2026. Where vision meets the Red Sea. Somabay returns to ITB Berlin 2026 with a destination that continues to move forward: purposefully, confidently, and with scale. Rooted in the Red Sea and shaped by a long-term vision, Somabay brings together iconic hospitality, championship sport, restorative wellness, and a fully integrated lifestyle […]
IMF completes fifth, sixth reviews of Egypt’s USD 8 bn loan program
Our extended fund facility with the IMF comes to a close in December
Egypt weighs 2Q return to EUR-denominated bond issuances with potential EUR 1 bn offering
A separate Eurobond tranche is on the table for later in the year
Gov’t expands list of industrial activities eligible for investment incentives
The new decree links incentives to geographic zones, with 30-50% of investment costs deductible over seven years
Egypt is one step closer to a property tax overhaul
The amendments push the annual rental value exemption threshold to EGP 100k
Central Bank of Egypt raises growth forecasts, but keeping the lid on inflation remains top monetary priority
The upgrade comes on the back of “anticipated contributions from non-petroleum manufacturing and services sectors”