The Sovereign Fund of Egypt (TSFE), via its health-focused sub-fund, has acquired around 20% of Care Pharmacies for EGP 75 million, in cooperation with EZ International, two sources in the know told Asharq Business.

Egypt's annual headline inflation narrowed to 27.4% in May, compared to 31.8% in April, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on June 10th.

Shell has discovered two new oil wells in the Mediterranean Sea of Egypt, namely Mina West and Khufu, as per a statement by the Egyptian Ministry of Petroleum and Mineral Resources.

The Central Bank of Egypt (CBE) has instructed local banks to lift the spending limit on foreign currency credit cards. The decision is part of a broader economic reform programme implemented by the CBE and the government, with the backing of international partners.