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Gov’t revises FY2020/21 GDP forecast upwards to 3.8%
Gov’t GDP forecast revised upwards:The government expects the economy to grow at a 3.5-3.8% clip in the current fiscal year,…
IMF gives initial approval to second tranche of USD 5.2 bn standby loan
Egypt is on track to receive the second tranche of its USD 5.2 bn IMF standby loan after it reached…
EFG Hermes posts 18% y-o-y net profit growth in 3Q2020
EARNINGS WATCH- EFG Hermes profits grow 18% y-o-y in 3Q2020: EFG Hermes’ net profits increased to EGP 422 mn in…
Enppi among 8 contractors signing on to work with Saudi’s Aramco
State owned engineering firm Enppi is one of eight contractors to sign long-term agreements for brownfield projects with Aramco, according…
Importers of key commodities in Egypt to be excluded from shipping VAT
CABINET WATCH- Importers of key commodities could be excluded from paying value-added tax on shipping costs under legislative amendments to…
GB Lease eyes last-minute securitized bond issuance in 2020
DEBT WATCH- GB Lease eyes last-minute 2020 securitized bond issuance: Ghabbour Auto’s financial leasing arm, GB Lease, could potentially issue…
Fawry gets green light from regulator on capital increase
E-payment platform Fawry’s is planning a capital increase to raise its issued capital by EGP 500 mn through new shares…
ODH confirms it is looking to sell stake in Orascom Housing Communities
M&A WATCH- Orascom Development Egypt (ODH) is in talks to sell some or all of its stake in Orascom Housing…
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