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Net FX reserves grow to USD 44.14 bn in May
Net foreign currency reserves were broadly stable at USD 44.14 bn in May compared with USD 44.03 bn in April,…
Speed Round
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Draft social welfare act with Finance Ministry for review
LEGISLATION WATCH- Draft social welfare act with Finance Ministry for review. A draft of a new proposed Social Welfare Act…
House expected to pass the FY2018-19 budget today, FinMin holds fast on oil price projections as global rally looks set to cool
BUDGET WATCH- Will parliament pass the FY2018-19 budget today ? The House of Representatives is expected to pass the FY2018-19…
House signs off on raises for civil servants, increased spending on pensions, bump in income tax exemption ahead of expected subsidy phase-out
The House of Representatives has started signing off on a basket of measures that will see bns in new spending…
Abraaj exited CIRA to avoid impact of IPO lockup on IRR
CLARIFICATION- A friend of ours at the Abraaj Group passed on this note after our pickup yesterday of news that…
OTMT reports losses in 1Q2018
EARNINGS WATCH- Orascom Telecom Media and Technology (OTMT) reported a consolidated net loss of EGP 121.5 mn in 1Q2018, down…
Maersk bullish on investing in Egypt, says decision contingent upon higher port traffic
Maersk interested in Egypt opportunities, but appetite is dampened by low volumes, high port fees: Logistics and transport services provider…
Stalled Russian wheat shipment allowed to enter the country after test results indicate safe ergot levels
Egyptian quarantine officials agreed yesterday to allow a shipment of Russian wheat to enter the country after first refusing it…
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