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Oil Ministry projects won’t freeze FX spending -El Molla
ENERGY- Oil Ministry projects are excluded from the government’s decision to ration FX spending, Minister Tarek El Molla told CNBC…
EGX could join Gulf bourse exchange hub -report
CAPITAL MARKETS- EGX looks to forge closer ties with Gulf counterparts: EGX officials are reportedly mulling onboarding the EGX to…
House postpones debate on draft Labor Act while gov’t makes tweaks
LEGISLATION- The gov’t is taking another look at the draft labor bill: The Madbouly government requested the House Manpower Committee…
FRA tightens controls on follow-on lending to SMEs
DEBT- State-owned Assiut National Oil Processing Company (ANOPC) secured a USD 2.9 bn loan to finance its new hydrocracking complex,…
Classera plans Egypt expansion
COMMODITIES- State grain buyer GASC reportedly purchased 80k tons of Russian wheat at USD 339 per ton for shipment in…
UAE’s Fintech Galaxy acquires Underlie + O7 gears up for a GCC expansion in 2023
STARTUPS- UAE-based open banking platform Fintech Galaxy has acquired Egyptian API provider Underlie for an undisclosed sum, according to a…
Rameda obtains exclusive rights to sell Physiomer nasal spray in Egypt
EGX- #1- Watania Kuwatia could make its EGX debut as soon as January: Local agriculture player Watania Kuwatia is planning…
MAF to invest EGP 750 mn in Egypt by 2025
DEBT- Arabian Construction Company to borrow EGP 3 bn from CIB: CIB has agreed to provide the Arabian Construction Company…
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