GTEX for Commercial and Industrial Investments has announced the commencement of trading on the Egyptian Exchange. Effective Sunday, GTEX shares are available under the Reuters code GTEX.

Moody's Ratings (Moody's) has today affirmed all ratings and assessments of the five rated Egyptian banks, including the Caa1 long-term deposit ratings of National Bank of Egypt SAE (NBE), Banque Misr SAE (BM), Banque du Caire SAE (BdC) and Commercial International Bank (Egypt) SAE (CIB); and the B3 long-term deposit ratings of Bank of Alexandria SAE (BoA). As part of the same rating action Moody's has changed the outlook on the banks' long-term deposit ratings to positive from negative.

Egypt is targeting to raise $6.5 billion from the state's initial public offering (IPO) program until the end of 2024, Minister of Finance Mohamed Maait said on the sidelines of the eighth annual Arab Fiscal Forum held in Dubai.

The private equity firm Compass Capital, in cooperation with CI Capital, is planning to launch C3 Fund worth EGP 3 billion within the first half (H1) of 2024, the firm’s Managing Partner Tarek Abdel Rahman told Al Arabiya Business.