Egypt’s Sovereign Wealth Fund working on a pre-IPO work plan
The Sovereign Fund finished drawing up a list of some assets to be included in the fund to be presented to investors: Sources
Fatma Salah
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Latest by Fatma Salah
UAE’s Salik intends to offer 20% of its shares for public subscription in September
Hermes and Citigroup act as IPO promotion managers
Abu Qir Fertilizers to get about $100m loan from NBK
Company to use loan in financing expansion: Sources
Eastern Company increases price of 10 popular types of cigarettes
The new prices are scheduled to be applied starting Sunday, September 4th, 2022, after the price list was approved by the Board of Directors in its session yesterday, in accordance with the provisions of the VAT Law and its amendments, as well as the Comprehensive Health Insurance Law No. 2 of 2018.
15% of Domty’s shareholders respond to Expedition’s offer
This number of shares represents 15.3% of the total shares of the company’s capital and 45% of the shares targeted at the conclusion of Sunday’s trading session.
Financial Securities Brokerage Group tops brokerage deals in August
Al-Ahly Pharos was the runner-up and CIBC was third
Real estate stocks top EGX in August with turnover of EGP 7.1bn
The banking sector came in the second with a trading value of EGP 4.5bn and a trading volume of 139.95 million stocks, followed by the non-banking financial services sector with a trading value of EGP 3.6bn and a volume of 2.7 billion stocks.
GlaxoSmithKline increases profits by 41-fold in 1H 2022
Al-Dababy expressed his pride in the trust GlaxoSmithKline has put in him, describing the entity as a “multinational corporate with a strong Egyptian flavour.”
FRA proposes amendments to Capital Market Law to trade carbon emissions reduction certificates
One such instrument are carbon certificates, which the FRA set the legislative framework for to regulate its trading after the large increase in the volume of trading on this type of certificates in global markets.
Orascom Construction implementing projects worth EGP 9bn
Moreover, the value of its new contracts increased by 21.9% to $3.2bn.
Egypt expected to announce loan agreement with IMF within hours
Agreement gives investors greater confidence in economy, as Egypt needs to follow post-loan IMF prescription to ensure reform continuation, economists tell DNE
FRA issues first license for Islamic microfinance activity
3.8 million citizens so far benefited from micro-enterprise financing services in 2022, 64% of which were youths
Elsewedy signs two contracts to construct transformer stations worth EGP 1.1bn for EETC
The first contract includes the establishment of a transformer station in the Al-Hammam Area in Matrouh as part of the 1.5-million-feddan reclamation project being implemented by the Egyptian government at a total value of EGP 566.8m.
Coordination to takes place with market parties to improve EGX performance, enhance liquidity
Al-Dokany said that he will work to coordinate with all parties to adopt and implement all the necessary policies to develop the performance of the EGX in a way that enhances liquidity and circulation, along with reinforcing awareness of the importance of the market in providing the necessary funding for various economic entities.
Emaar Misr acquires 25% of Eagle Hills’ shares at nominal value
The company indicated that 25% of the shares of Eagle Hills Egypt were acquired at a nominal value for the implementation of the projects.
Egypt’s Cabinet reconstitutes Board of Directors of FRA for four years
The new board includes Islam Abdel Azim Azzam and Ahmed Abdel Rahman Al-Sheikh as Vice Chairpersons of the Board of Directors of the Authority, Mohamed Farid as Chairperson, in addition to one of the deputy governors of the Central Bank of Egypt (CBE) that will be chosen by the new acting governor.
Meet Rami El-Dokany, the new chairperson of Egyptian Exchange
El-Dokany graduated in economics from Cairo University in 2003. He received a diploma in feasibility studies and project evaluation from Cairo University in 2005.
Qatar Investment Authority in talks for stakes in Alexandria Containers, Eastern Company
$20bn Qatari investments are on the way to Egypt: Sources
Enppi, Petrojet acquire foreign partner’s stake for $117m
Star Ltd. sold its shares in the company, and Cairo Capital is the broker of the two parties to the deal: Sources
CI Capital records EGP 1.6bn revenues in 1H 2022
Company’s net profits after tax and minority interest nearly doubled y-o-y to EGP 341m
Non-banking financial sector in shock due to high interest rates
EFG Hermes working to improve its profit margins, hopes to improve economic conditions: Al-Ahly Pharos
Beltone incurs EGP 105m in losses in 1H 2022
The company’s total revenues also decreased to EGP 110.39m, down from EGP 193.82m.
Ezdehar acquires 60% of Zahran Market
Beltone served as the broker of the EGP 273m-deal
Arabia Holding to include insurance brokerage, real estate finance in its activities
The company is currently considering entering the field of real estate finance and insurance brokerage, as well as adding new services and products to its existing companies.
Pachin assigns Al Ahly Pharos to decide on takeover offers
Another company is set to join Pachin acquisition marathon: Sources
Elsewedy Electric earns EGP 2bn in 1H 2022
The company has been focusing on developing digital capabilities to enhance its performance: Managing Director
MNHD records EGP 1.5bn in sales in July 2022
MNHD records EGP 1.5bn in sales in July 2022
ValU prepares to launch its activities in Saudi Arabia before 2022-end
valU partners with Al Hokair and Marakez to start operation in Saudi Arabia
ValU acquires Paynas to expand financial offering, amplify lifestyle enabling solutions
The acquisition was made public in a signing ceremony attended by Minister of International Cooperation Rania Al-Mashat.
$20bn worth Qatari investments on the way to Egypt
Qatar Investment Authority to sign first deal in Egypt within days: Sources