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Thursday, 3 May 2018

The most important stories from March

The five most important business and economy stories out of Egypt in April 2018:

  • Egypt’s budget for the FY2018-19 fiscal year sees GDP growing at 5.8%, and the budget deficit narrowing to 8.4%.
  • Egypt and the EU sign an MoU on energy cooperation yesterday that is widely expected to pave the way for Egypt to become a gas export hub to Europe.
  • Central bank Governor Tarek Amer ressures the sector that the amended Banking Act will not set term limits for bank managing directors.
  • Madinet Nasr Housing & Development (MNHD) and SODIC explore a possible merger or acquisition.
  • The Cairo Court of Urgent Matters suspended a ruling by the Administrative Court the previous month that revoked the licenses of ride-hailing apps Uber and Careem.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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