319 Articles
Suez Canal traffic data showed that 232 ships transited the canal, with a total load of 13.7m tonnes, from 14 to 18 August 2016. An average of 46.4 ships per day transited the canal during that period, with an average load of 2.74m tonnes per day. The average load per ship was about 59,050 tonnes …
The Arab Gulf stock markets experienced a sideways trend over the past week affected by the high price of Brent Crude, which rose from $42.14 up to $46.97 per barrel since the beginning of August. Qatar led the region-wide rise to finish 2.57% higher during the past week’s trading. It increased from 10,681.08 points to …
The new factory will allow Editia to expand its production by providing the production inputs and controlling production costs
The delayed development plans include recently announced new activities due to directing the dollar’s resources to the import of raw materials, says head of financial division
The company is preparing to run the production line within days as part of its plan to expand production capacity, says investment report
Suez Canal traffic data revealed that 327 ships transited the canal, with a total load of 18.8m tonnes, from 5 to 11 August 2016. An average of 46.71 ships transited the canal per day during that period, with an average load of 2.7m tonnes per day. The average load per ship was about 57,500 tonnes …
MCDR is closing the door for GDR transfers to Edita, OTMT, GTH, as they exceed the free-floating shares ratio
EFSA has defended its decision by arguing that it is a guarantee for stocks to not suddenly be suspended
The MSCI index overcame the sideways trend which has dominated its performance since the middle of July. During the past five sessions, the index rose from 873.5 points to 885.52 points, recording an increase of 1.38%. The MSCI index began its first session last week with a slight increase from 880 points to 884 points. …
Djezzy, a subsidiary of Global Telecom, aims to launch fourth generation wireless services (4G) in Algeria this autumn, during the last quarter of 2016, according to an investment report by Global Telecom. The company explained that the 4G network is considered a major step towards supporting Djezzy’s situation after revenues declined during the second quarter …
Technical analysts predict that the Egyptian Exchange (EGX) will continue its rising trend, to reach 8,450 and 8,500 points during this week’s trading. Should the EGX face resistance, it could result in a decline to 8,100 points. The expectations tailed an increase in EGX30, as it had reached 8,255 points. The market has been climbing …
The company Oriental Weavers plans to inject EGP 100m in investments during the second half of 2016 to expand its production capacity. The company aims to add seven new looms after its merger with Rozatks Modern Spinning and Weaving Company, bringing the total capital expenditures to $14.5m and the production capacity to 4.2m sqm. Mohamed …
Board member of the Egyptian Private Equity Association (EPEA) Haitham Wagih said the association is currently penning the framework for issuing the first certified certificate for training financial analysts in direct investment—which would be the first of its kind in Egypt. Wagih said that EPEA is currently establishing bridges of communication with banks and investment …
Deals include acquisition of food and beverages company worth more than EGP 1bn
The Egyptian Exchange (EGX) is facing a tough challenge this week as it attempts to continue its upward direction, after the good performance it recorded last week. Technical analysts and executives at brokerage firms said that the market’s ability to go beyond 8,000 points would cause it to continue moving upwards. Experts advised investors to …
The National Company for Maize Products (NCMP) is considering temporarily suspending its expansion plans worth EGP 1.2bn due to lower production volumes of the company. The lowering production rate is driven by recession in global markets as well as the ongoing US dollar price hikes in the Egyptian market. A senior source at NCMP, who …
US dollar loses over 50 piastres on informal market, 5% jump on EGX during Wednesday trading
The expected $12bn loan agreement with the IMF prompted institutions to increase purchases, amid expectations of further devaluation of the pound, says capital market expert
Liquidity determines the time plan to increase shares, while the company completes lifting its shares in Alfa Medical representing 3.17%
Ezz Steel said in a report that it registered a strong growth in the sales of reinforcing bars, especially in the local market, which contributed to increasing the company’s first quarter (Q1) sales. The company registered sales of EGP 4.967bn in Q1 2016 compared to EGP 4.793bn during the same period last year, which marks …
Recent amendments aim to keep up with the economic conditions and not restrict investors, says EFSA chairperson
Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, leaning south, amid uncertainty of the Central Bank of Egypt’s (CBE) vision during the Sunday session. Last week, the EGX declined by 1.93% and closed at 7,437, after the CBE kept the value of the national currency unchanged for the second week …
Suez Canal traffic data revealed that 335 ships transited the canal from 16 to 22 July, carrying a total load of 19.63m tonnes. An average of 47.86 ships transited the canal per day during that period, with an average load of 2.8m tonnes per day. The average load per ship was about 58,600 tonnes during …
Egypt Duty Free’s activity is influenced greatly by the movement of foreign currencies against the Egyptian pound, especially the US dollar and the euro as importing goods—such as electrical appliances, alcoholic beverages, and perfumes—is done in these currencies.
InterCairo Aluminum Industry awaits approval from the Egyptian Exchange to begin the IPO procedures, after the company has provided all the required documents
Foreign companies seeking to invest in Egypt traded based on prices that reflect their vision of the pound; these estimations are met with acceptance by local partners, say investment managers and research departments
Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, ranging between 7,550 and 7,600 points during the Sunday session. A steady session is expected after the good performance of the stock market in the previous week. The analysts had said that the market was expected to break its sideways trend during …
The average load per ship was about 60,770 tonnes during that period
EGX closed at 7,182.8 points on Monday, with a 2.88% increase.
The company is also seeking to implement a similar power plant in Aswan