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Bills on everything from citizenship to ‘fake weather news’ officially become law
Foreigners now have more routes to a green passport
CBE bans some prepaid cards from making international transactions
The move affects cards that aren’t linked to bank accounts
Orascom Construction, Metito to build USD 2.4 bn desalination plant in Abu Dhabi. PLUS: Standard Chartered eyes Egypt, FX crisis hits Arab Alloys industrial complex
The project will process more than 500k cbm of seawater per day
Egypt has options to solve the FX-devaluation conundrum
Today: AfDB meetings, SCZone China roadshow, and EFG Hermes AGM
Gov’t acts amid fears of pharma shortage
Demolition of historic tombs at the City of the Dead received criticism
Arab League and FX top talk show coverage
The EGP gains against the USD are largely due to recent gold custom breaks
Residency-for-investment
Foreign investors will now get year-long residencies while setting up their businesses
FX bureaus face strict capital requirements, tighter controls as CBE moves to curb black market
Regs to strike “significant blow” to the parallel market
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