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Annual headline urban inflation dips 0.1 percentage point to 24.0% in January
Good afternoon all you wonderful people, and happy Monday. We have a busy issue for you today, with January’s inflation…
Egypt raises the private sector minimum wage to EGP 7k starting March
PLUS- A minimum wage for part-time workers
January’s inflation figures are out today
Good morning, friends. We have another brisk issue for you this morning as we ring in another cold winter day.…
Cheiron Energy secures USD 75 mn syndicated loan
PLUS- FRA raises maximum credit limit for micro enterprises
Gov’t to issue bookkeeping scheme to account for FX price difference prior to the EGP float
The accounting scheme will augment FX costs booked by companies throughout 1Q 2024 by a rate of up to 60%
Egypt’s net foreign assets dropped 12% to USD 5.2 bn in December
The decline was driven by a widening deficit in the net foreign assets of commercial banks
Egypt’s foreign reserves inch up USD 156 mn in January to USD 47.3 bn
FX reserves declined to USD 35.8 bn in January
New social protection package to come into effect in July — announcement to come within days
The government is planning to raise the minimum wage for civil servants by 1.5k to EGP 7.5k
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