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Regulation
Regulation
FRA issues model short-selling contract, with launch weeks away
Contract wording is settled; the launch now waits on the clearing house’s live link-up and…
FRA is pushing credit ins. pricing onto actuarial footing with new underwriting rulebook
Insurers will have six months to comply with the new framework, which adds annual model…
New CBE framework moves credit guarantee companies from contractual model to regulated activity
Six years after Law 194/2020 brought credit guarantee companies under CBE oversight, the central bank…
The EGX is asking for a full tax exemption on transferable-asset funds to pull stalled real estate into the bourse
The bourse wants a full income tax break to revive investment funds; seeks to expand…
Legislation
The House authorizes El Sisi to take “whatever measures are needed” to support Saudi Arabia
Good morning, friends. It’s been a rough few days on the EGX, and the IPO…
House of Reps extends its closed session on whether to authorize the armed forces to support Saudi Arabia
Good morning, ladies and gents. It’s a big week for the EGX as Banque du…
Draft union law sets registration and escrow rules for developers — and leaves classification to regulations
The draft settles who is allowed to develop. How they’ll be ranked, and whether that…
The government plans to launch its Nevera media city within one to two months
Good morning, friends. Egyptian capital is on the move, and we have three stories tracking…
Taxation
Tax sukuk pilot runs through banks this month as the bourse waits for 2027
Subscriptions run through commercial banks on a six-month tenor, with the bourse coming in only…
Companies paying for NUCA land in USD from abroad will skip the line and the bidding from November
Good morning, folks. You will read below about three things the government is doing at…
Coffee With Ramy Youssef on what Egypt’s tax strategy will say, and what it won’t
The deputy finance minister on the strategy due before year-end, the free-zone levy that isn’t…
Gulf sovereign funds could start paying tax on UK property from 2029
London is offering a lower-tax REIT route and a stamp duty break to soften the…
Customs
Importers say FX is flowing, but a weaker EGP, bank fees, and port charges are lifting costs
Importers call for emergency customs measures to cut port costs, while traders mark up food…
Grova hands Hassan Allam Construction a second USD 500 mn EastHills contract
Egypt lifts the wheat procurement price 6% and backs 1 mn smallholder feddans
Maersk tells the SCA it hopes to have all its services back on the Suez Canal by March 2027
Good morning, friends. All that glitters isn’t gold on the consumer finance front. The FRA…
Sahl is preparing to launch in DIFC to serve Egyptian expats in the UAE
Plus: FRA approves investment fund platforms for Azimut and Menthum Holding
CBE lets banks hire outside agents to sign up customers beyond their branch networks
PLUS: MTS is in talks to build a USD 100 mn data-center hardware plant in…
CBE hikes for the first time since March 2024, raising rates 100 bps and moving its inflation target to 4Q 2027
The CBE raised policy rates by 100 bps and called it preemptive, ending an easing…
Banque du Caire’s retail book closed 27x covered, days before trading
Good morning, friends, and happy almost-weekend. We’ve all been wondering lately: where does the money…
Consumer lenders can no longer finance gold, and analysts weigh what that says about how Egyptians save
Analysts say borrowing to buy gold turns a hedge into a leveraged trade, while deposit…
Egyptian Exchange
EGX30 sheds 4.43% in October to post its first back-to-back monthly loss of 2026
The benchmark fell 4.43% and the small caps twice as hard; foreign investors kept selling;…
Mabany Edris taps NBE for EGP 975 mn to speed up Koun construction in Ras El Hekma
PLUS: EGX suspends Digitize a day after giving it two weeks to file overdue statements…
Five EGX-listed companies are buying back their own shares after the sell-off
Here are the stories driving the day, both at home and abroad. Five EGX-listed companies…
What the markets are doing on 5 November
The EGX30 rose 1.0% at today’s close on turnover of EGP 10.2 bn (7.8% below…
Sovereign Fund of Egypt
EAEF continues Fawry exit as its congressional mandate nears its end
PLUS: The gov’t is planning to launch an industrial investment fund with CI Capital within…
Centralized securities lending and borrowing system in testing ahead of November pilot launch,
Good morning, folks. We’re covering a broad spectrum today, with stories in energy, fintech, and…
Household electricity tariffs hiked by an average of 12%
Good morning, everyone. We have a big macro story and a quieter industry read for…
Gov’t wants to lift EgyptAlum’s valuation before deciding on stake sale or SFE transfer
Officials want new projects and approvals to land before deciding whether to bring in investors…
Financial Regulatory Authority
EGX is still waiting for its share of the fund boom
A half-tn-EGP industry is still built around products designed for saving rather than investing, and…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index, and gold products
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local fintechs are not.
EBRD, IFC sign on to Banque du Caire’s upsized IPO
The state’s biggest sale in years has grown to 45% of the bank and prices…
Courts
AD Ports to receive two Ain Sokhna marine terminals by 1Q 2025. PLUS: Mobica, MID Takseet + Basata, State Lawsuits Authority, Talaat Moustafa Group, Greentech
A high-level committee is reportedly close to finalizing the final terms of the contract
Egypt court rules in favor of Centamin, ending 12-year legal dispute
The claimant has no right to appeal the court’s decision
Mohamed Shawky Ayad sworn in as Egypt’s new public prosecutor
The former Alexandria court of appeal head will succeed Hamada El-Sawi
New leadership for three key judicial institutions
The Court of Cassation, Administrative Prosecution Authority and State Lawsuits Authority have new heads
Ittihadiya
Sisi inaugurates Octagon, unveils comprehensive economic program
El Sisi gave us a glimpse into Egypt’s post-IMF future
Egypt’s El Sisi calls on Trump to end the war
Good morning, all. It’s another morning with the regional war and its impact on us…
El Sisi, Trump meet up on the sidelines of Davos
Egypt accepted an invitation from the US to join the Board of Peace for Gaza
El Sisi calls for review of recent parliamentary elections
The move could potentially see the NEA fully or partially annul the first phase of…
Cabinet watch
FinMin borrowed around EGP 4.3 tn at home in four months, almost all of it refinancing
The ministry borrowed about EGP 4.3 tn locally in four months, almost all of it…
Gov’t and World Bank commit to raise minerals’ contribution to GDP to 6% by 2030 and mineral exports to USD 9.8 bn by 2040
Plus: The state clears PPP tenders for two large desalination plants in Suez and Port…
Egypt Forum closes with a scoreboarded 2027-2030 program and a bigger pitch to private investors
The forum closed with a named, KPI-tracked 2027-2030 program, 150 published indicators, and a wage…
Deloitte adds USD 40 mn to its Cairo innovation hub, completing a USD 110 mn plan
Plus: Egypt signs agreement to host World Economic Forum’s dedicated business meeting on 16-17 November
Public policy
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the two sources we spoke to…
IMF lands in Cairo for the final review, with divestments, energy subsidies and tax on the table
Good morning, lovely people. The IMF mission is in town earlier than we expected for…
Egypt opens first phase of Ismailia Vaccines and Biotechnology City tomorrow
Good morning, friends. Tomorrow’s pricing of the state’s biggest share sale in years will tell…
Gov’t pushes to close out its IMF program before December, with a final review due in late November
Divestments are our strongest card going in, while energy subsidies and a stalled free zone…
Diplomacy
The gov’t is considering routing idle public-business-sector property to Mostakbal Misr
Good morning, ladies and gents. It’s a very busy news morning, with Banque du Caire’s…
Egypt and South Korea upgrade to strategic partnership, launch CEPA talks as President Sisi continues Asia tour
The strategic partnership with Korea shifts the relationship from project-by-project cooperation to an institutional framework…
Al Ahly Capital is buying out El Sewedy from CIRA’s Damietta university venture
Good morning, lovely people. The long weekend is almost here, but before you log off,…
Beijing and Cairo put working tracks around their relationship
☀️ Good morning, friends, and happy first weekend of September. Speaking of which, we’ve got…