Asset managers expect balanced funds to dominate in 2016
Appeal of balanced funds grew following diminishing investment opportunities in monetary and fixed income funds due to decision to reduce investments in such funds
Mohamed Ahmed
319 Articles
Latest by Mohamed Ahmed
Enforcement of Movable Guarantees Law tops EFSA’s agenda for 2016
The authority aims to draft the executive regulations of the law by May, to enable small enterprises to acquire the needed funds to maintain activity
Savings certificates, bonds, foreign deposits prove immune to stock market crisis
Small investors’ portfolios lost an average of 70% of their value, prompting investors to look for safe investment alternatives
Gulf stock markets most likely in region to attract foreigners
Experts predict that Gulf markets will dominate over the Egyptian stock market in light of tendency to register Aramco assets on the Saudi stock exchange
New EFSA regulations increase competition among asset management companies offsetting losses
Cairo Financial Holding involved in negotiations over managing three funds at over EGP 100m each
MCDR rejects ECMA’s request of a 50% reduction in fees of T+1 and T+2 mechanisms
ECMA requested a reduction in the fees on all operations carried out using the two mechanisms, in which the ratio of 1/8 in a thousand per operation would be reduced to 1/16 in a thousand
EGX urges GAFI, Commercial Registry office to approve companies’ decisions promptly
Chairman of Egyptian Exchange expects Domty to be the first company to sell its shares during 2016
312 ships transited Suez Canal with total load of 17.77m tonnes last week
About 153 ships transited the canal south; the daily average was 21.7 ships and a total load of 8.3m tonnes of cargo, with a daily average of 1.185m tons.
Foreigners lead stock market to decline in January
Foreign investors’ transactions registered net sales of EGP 548.85m
Maridive to hand over UAE Petrofac project by next March
The project is worth $151m and will be delivered by March 2016, according to Investors Relations Manager at Maridive Adel Al-Zomor. Maridive is an offshore marine and oil support services provider.
144 ships transited Suez Canal in 3 final days of last week
However, 144 ships transited the canal, carrying a total load of 8.5m tonnes, during the last three days of last week.
Investors begin weekly trading with 25 January and oil prices in consideration
Expectations that EGX record an increase in Sunday’s session of up to 5,800 points with support from increase in oil prices to $32.18 per barrel
Giza Systems IPO delayed due to market turmoil
It is difficult to take the decision to offer under the difficult circumstances in the local and international stock markets, says Beltone Capital CEO
CI Capital CEO calls on state to address hindrances to growth rate
Atallah asserts that the impact of the oil price crash on the country is generally negative, especially after losing $12bn in oil exports
302 ships transited Suez Canal during last week
The ships transited with total loads of 17.38m tonnes
EFSA reviews fair value report for Beltone’s IPO on EGX
EFSA’s work comes in line with the procedures for an IPO on the Egyptian Exchange (EGX).
EGX requests Beltone to disclose uses of pending OTMT and Act Financial loan
The loan will be used in CI Capital acquisition in preparation for the merging: Sources
Stock exchange requests financial statements from companies to limit recent decline
EGX Chairman Mohammed Omran said he believes in the importance of not interfering with the performance of markets, especially since the kinds of financial crises have become various, and have been recurrent throughout the year.
308 ships transited Suez Canal with total load of 18.081m tonnes last week
Cargo load is the main measure of shipping traffic in the Suez Canal and the calculated transit fees.
Suez Canal registers revenues of $5.176bn in 2015, down by 5.3%
Payloads also increased by 3.7% to $998.7m net tonnes in 2015 compared to 962.7m net tonnes in 2014, an increase of 36m net tonnes.
EGX discusses four major issues with the government in 2016
The postponement of the capital gains tax tops EGX’s agenda; EGX will discuss the issue in parliament
Modern Waterproofing Co. develops plan to offset 2015’s losses
The company’s issued capital and paid capital is EGP 119m, divided over 119m shares, at one pound per share.
EGX to decline to 6,700-6,800 points on Sunday: Analysts
Technical analysts attributed predictions of fall in EGX to impact of severe decline in Gulf and European stock markets, due to decrease of price of oil
275 ships transit Suez Canal with total load of 15.98m tonnes
In July 2015 before the inauguration of the New Suez Canal, the average daily number of transiting vessels was recorded at 47 vessels, with an average load of 2.758m tonnes per day.
EGX agrees to extend Al Salam Group’s listing period to May
Company seeks to obtain approvals from the Kuwaiti Capital Market Authority to convert shares
Egyptian stock exchange’s report shows region’s advanced rank in 2015 issuances, real value refutes
Saudi stock exchange comes at the top of Arab shares markets with four issuances worth EGP 8.665bn
Pharos seeks to promote increased investment in 2016: Sherif Abdel Aal
We are organising nine acquisitions deals for Egyptian companies in the food, retail, and medicine sectors
330 vessels transited Suez Canal in last week of 2015
Suez Canal Data reported a revenue decline to $408.4m in November compared to $449.2m in October
EGX aims to close between 6990 – 7050 points Sunday
Analyst predicts conservative first week movement in stock performance as there are low expectations for the Egyptian economy 2016
Sawiris dominates Egypt’s financial sector in 2015
By December, Orascom presented an acquisition offer to CIB’s CI Capital