The Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), acquired a 34% stake in Egypt's B. TECH for around $150 million, Asharq Business reported on October 2nd, citing informed sources.

The Egyptian non-oil sector remained under pressure in September, as a result of inflation, energy rationing, restrictions on imports, and a decline in demand, the S&P Global Egypt PMI™ report showed on October 4th.

The Central Bank of Egypt (CBE) has instructed banks to remove maximum limits for deposits by individuals and companies at bank branches and ATMs, according to a circular released on Thursday.

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Wednesday that the annual urban inflation in Egypt increased to 13.6% in July 2022, compared to 13.2% in June 2022.