The World Bank disbursed $1 billion to Egypt for the Second Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing (DPF), a statement by the bank announced on Monday.

An Egyptian parliamentary committee on Wednesday approved the country's three-year $12 billion loan agreement with the International Monetary Fund, which will next be voted on by the whole legislature.

Mall of Egypt which is one of the biggest malls in North Africa and the Middle East has finally opened its doors to the public.

Egypt's central bank left its key interest rates on hold for the third time in a row, as expected, and said inflation is expected to drop after the impact of temporary effects subside, helped by its preemptive monetary policy actions, absorption of liquidity and favorable base effects.