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Infrastructure 
Al Safa Hospital to acquire Al Fayrouz Hospital assets for EGP 136.5 mn
Al Safa Hospital has won a court-ordered liquidation auction for Al Fayrouz Hospital’s assets, for which Al Safa will pay…
Banking
NBE to buy additional 2% of Arab Contractors subsidiary for EGP 1.2 bn
M&A WATCH- NBE to acquire another 2% of Arab Contractors subsidiary? Arab Contractors reportedly sold another 2% of its shares…
Wasel in talks with Wamda Capital over USD 200k
Mass transit startup Wasel is in talks with the UAE’s Wamda Capital for a USD 200k funding round to finance…
Mohamed Farag appointed as non-executive chairman at Fawry Plus
BOARD MOVES- Mohamed Farag has been named non-executive chairman at Fawry Plus. Farag, who is chief digital officer at CIB,…
Egypt state companies to settle EGP 80-100 bn in debt owed to NIB
President Abdel Fattah El Sisi and the Madbouly Cabinet approved a plan for state-owned companies to settle EGP 80-100 bn…
Saudi Re wants to grow its Egypt reinsurance business
Saudi Re for Cooperative Reinsurance Company (Saudi Re) wants to grow its Egypt reinsurance business by focusing on major development…
Egypt’s net FX sufficient for 8.5 months’ worth of imports
Egypt has foreign currency reserves sufficient for 8.5 months’ worth of imports, according to the central bank’s monthly statistical bulletin…
Gov’t signs agreement with banking sector to settle tax disputes
Gov’t signs agreement with banking sector to settle tax disputes: The government signed three agreements with the Federation of Egyptian…
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