Egypt has signed a USD 500 million (EGP 15.4 billion) deal with the Abu Dhabi Exports Office (ADEX) to fund wheat imports for five years, according to a statement by the State Information Service on Tuesday, 15 August. The deal was secured following talks with the UAE in July. The funds will be used to
The World Bank revised Egypt's projected real gross domestic product (GDP) over the current and coming fiscal year (FY), cutting the number to 4 percent from 4.8 percent in their June 2023 Global Economic Prospects report. The bank previously estimated Egypt's real GDP growth to be 4.5 percent in FY 2022/2023 and 4.8 percent in
Shares worth EGP 3.747 billion (USD 121 million) of Egypt’s leading national telecommunications, Telecom Egypt, were sold on Thursday, 11 May according to a statement released by Egypt’s Ministry of Finance. Over 162 million shares were sold at a price of EGP 23.11 (USD 0.75) in an accelerated bookbuilding form – a process in which