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DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

Egypt’s economy to grow 5.2 percent in current fiscal: IMF

    • FDI is forecast to rise to $8.6 billion this fiscal

    • The average inflation rate is seen at 6.6 percent this fiscal

    Egypt’s economy is expected to grow 5.2 percent during the current fiscal, compared to a projected growth rate of 2.8% in the last financial year. This is the assessment of the International Monetary Fund that has forecast Foreign Direct Investment to rise to $8.6 billion in the ongoing financial year.

    As for FY22/23, the country’s real gross domestic product (GDP) growth is projected to accelerate to 5.6%, according to a report by the IMF.

    The average inflation rate is seen at 6.6% in FY21/22 and 6.8% in FY22/23.

    Foreign direct investment (FDI) is forecast to rise to $8.6 billion in FY21/22, $11.7 billion in FY22/23, $14.9 billion in FY23/24, and $16.5 billion in FY24/25.