Top News & Analysis
MACRO NEWS
The World Bank has revised upwards its projection for Egypt’s GDP growth to 6.1% for 2021/22. (Enterprise)
The House of Representatives yesterday gave its final approval to a presidential decree amending customs duties on hundreds of imports. (Enterprise)
The CBE’s latest USD T-bill auction has been finalized with an accepted bid of USD565.1mn (vs. USD540mn offered) at a weighted average yield of 3.044%. (CBE)
CORPORATE NEWS
Egyptian Gulf Bank [EGBE] announced its Q1 2022 standalone results. The bank's bottom line increased 24% y/y to EGP197mn.
Vortex Energy, the private equity arm of EFG Hermes Holding [HRHO], is following through on the conditions of its partnership with Ignis, which began last year by injecting EUR222mn in two installments.
The Ministry of Education has set the due date for the first installment for private schools tuition fees of the next academic year 2022/23, provided that it is at the beginning of the new academic year.