Egypt’s annual headline inflation rate accelerated to 4.9 percent in May, up from 4.4 percent in April, owing to the recent preventative measures against the coronavirus and the increase in prices of vegetables and fresh fruits, according to the Central Bank of Egypt (CBE). 

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided on Wednesday to keep the current interest rates unchanged for the third time in a row in 2021.

Swedish home furnishing brand IKEA, in collaboration with Al-Futtaim Group company Marakez, opened its second store in Egypt at Mall of Arabia, according to the company’s recent statement.

Jumia Technologies AG is expanding its footprint in Egypt via food online delivery, where there is a gap in the market following the exit of Uber Eats, Bloomberg reported.