IMF chief Christine Lagarde said Tuesday she will recommend the institution approve a US$12 billion loan for Egypt when the board meets Friday to support the country's "ambitious" reform program.

Saudi Arabia has deported 45 Egyptians over illegal residence and disputes with sponsors, Youm7 reported.

Security forces managed to kill six takfiri armed elements in the northern tip of the Sinai Peninsula as part of tight crackdown against extremists, Youm7 reported.

Egypt's President Abdel-Fattah El-Sisi congratulated on Wednesday newly elected US President Donald Trump shortly after the declaration of his victory, the Egyptian Presidency announced.

Egypt's Ministry of Interior will no longer allow trucks to use the Suez and Ismailia highways on the outskirts of Cairo from 6 am to 9 am and from 1 pm to 4 pm, Al Ahram Arabic website reported.

Egypt’s stocks hit the highest level in at least eight years on Tuesday following cash flow from foreigner investors, who were clearly attracted to the prices of heavyweight shares, an analyst told Ahram Online.

The International Monetary Fund (IMF) board will meet on Friday to discuss Egypt’s request for financial assistance, IMF director Christine Lagarde said on Tuesday, adding that she will recommend that the loan be approved.

Billboards displaying promotional materials from the tourism campaign "This is Egypt" have been raised in London as Egyptian tourism minister Yehia Rashed attended a conference Monday on the sidelines of the World Trade Market.

Egypt will submit within two or three days a letter of intent to the International Monetary Fund for a $12 billion loan, Finance Minister Amr El Garhy was quoted as saying by the Al-Borsa newspaper on Monday.

The US dollar price jumped on Monday to a new level amid concerns that this state of confusion, which began yesterday, may continue in inter-bank trading for the American currency.

Egypt's Petroleum Minister Tarek El Molla said that total subsidies for petroleum products reached LE64 billion as a result of increasing oil prices and currency floatation, adding that fuel subsidy cuts announced on Thursday will save the government around LE22 billion.

After the Central Bank of Egypt (CBE) announced the pound floatation last Thursday, pharmaceutical companies have notified pharmacies Monday that the number of imported medicines will be reduced over the next 3 months, as of November 5, due to high costs.

Lawyer Ali Ayyub filed a lawsuit on Sunday at the State Council to demand canceling of the decision by Central Bank of Egypt’s (CBE) governor to float the Egyptian pound.

Egypt's decision to float the pound on Thursday is credit positive for Egyptian banks, Global credit rating agency Moody's said in a statement on Monday, adding that the decision would increase the availability of US dollars in the economy.

For the first day in a row, the Egyptian Stock Exchange opens its session Tuesday at a positive note.

The Foreign Affairs committee at the parliament will be meeting Tuesday with foreign ambassadors to discuss bilateral issues and cooperation.

Egypt’s Foreign Minister Sameh Shoukry departed Tuesday on an Ethiopia-bound flight to participate in a high-level meeting on Libya, Youm7 reported.

North Sinai forces managed to harmlessly dismantle an explosive device found near a primary school in central Arish City, Youm7 reported Tuesday.

Hundreds of students gathered at the American University in Cairo campus today to protest an increase in tuition fees following the recent floating of the Egyptian pound against the US dollar.

Three people were killed and 22 injured on Tuesday in a collision on Suez road between a school bus and a truck, reported Al-Ahram Arabic website.