Trade violators will not be prohibited but rather subjected to tighter controls: EFSA
Lawsuit filed against board members of three companies listed on the EGX for manipulating stocks
Mohamed Ahmed
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Latest by Mohamed Ahmed
New cement licenses threaten future Misr Cement market share: Beltone
Beltone said that ASEC contributed roughly 60% to Misr Cement’s revenues, which reached EGP 723.067m during Q1 of 2016.
Sabaa Pharmaceuticals spends EGP 15m from benevolent loan to stimulate production
Sabaa announced in May 2014 that senior shareholders planned to lend it EGP 30m as a benevolent loan.
70% decrease in production capacity due to energy and clinker shortage at Alexandria Portland Cement
Alexandria Portland Cement owns three production lines: one line in Alexandria with a capacity of 1.5m tonnes annually and fuelled by diesel and mazut, and two lines in Beni Suef with an annual capacity of 3m tonnes.
Financial Brokerage Group tops brokerage firms in H1/2016 with 9.5% market share
The Commercial International Brokerage Company (CIBC) came in second place through executing operations worth EGP 15.164bn, obtaining a market share of 9.3%. CIBC executed deals worth EGP 1.776bn, obtaining 7.82% of the deals market.
EGX expects to move between 6,900 and 6,990 points during Sunday trading
The EGX closed on Thursday at 6,942.52 points, with a 0.15% increase.
Foreign investors register net purchases of EGP 2.137bn on EGX over 3 months
EFSA receives 103 new complaints against financial supervisory agencies and solves 106 complaints over five months
263 ships transit the Suez Canal carrying 15.94m tonnes in 6 days
An average of 43.8 ships transited the canal per day during that period, with an average load of 2.66m tonnes per day
Egyptian Stock Exchange collapses by 5.5% under the separation of Britain from the EU
EGX drops by 5.5% following Brexit vote
Egyptian Exchange at the mercy of Brexit repercussions
Technical analysts predict the market falling from 7,253.3 points to 6,800 points over Sunday and Monday
57357 Hospital considers launch of investment charitable fund
57357 has received phone calls from several banks, including Hermes and Beltone, to gauge the willingness of establishing a charitable fund
Mubasher backs down from seeking acquisition of financial consulting firm
The company is to receive a new license within two months, after hiring a financial consulting director
Absence of GDR selling operations’ data compromises accuracy of foreigners’ purchases in EGX
Brokers have confirmed that the Egyptian Exchange’s recording purchases of Arabs and foreigners worth EGP 2.35bn since the beginning of 2016 does not reflect the real trend, as EGX has not recorded sold depositary receipts abroad as a way of exiting Egypt for foreigners
210 ships pass through the Suez Canal, carrying 12.8m tonnes in 5 days
The major container ships of Maren Maersk passed through the canal carrying 200,360 tonnes
279 ships transit through Suez Canal in 6 days carrying 16.5m tonnes of cargo
The average number of ships transiting the canal per day is 46.5, with an average of 2.75m total tonnes of cargo.
Cartel Capital promotes creation of electronic banking services platform in Middle East
Cartel Capital in the Middle East and North Africa will begin a promotional tour in Emirati banks during Q3 of 2016, says Ayman Abou Hend
Analysts expect EGX to overcome rise of interest rate by reaching 7,480 points
Analysts predicted that purchasing powers will be dominant during the trading session and push the EGX-30 index to reach 7,480 points amid weak trading volumes
International gateway revenues to TE will drop in 2017: Beltone
The launch of international gateway licences to Vodafone and Orange will threaten TE’s revenues
Expectations of more companies issuing GDRs amid warnings of attracting liquidity from leading stocks
Investment managers say companies are seeking foreign investments through GDRs in light of the US dollar shortage, while local investors hide behind foreign institutions to obtain revenue in US dollars instead of Egyptian pounds
RenCap working on seven deals in Egypt, with an average of USD 100m each
The company is working on seven deals in the local market, including public offerings in the real estate, health care, and food sectors
Rain Global commissions Deloitte to evaluate RGS Egypt
US partner is exiting due to export constraints, says head of RGS
The government’s intransigence is the reason for the failure to acquire CI Capital: Beltone’s legal adviser
The violations of the main shareholder will not hinder Beltone’s acquisition of Reefy and Arab Finance, says Sherif Samy
Beltone calls on general assembly to issue GDRs on London Stock Exchange
Legal adviser for Beltone says acquisition of CI Capital failed due to the government’s intransigence
Analysts predict decline of EGX following failed Beltone-CI Capital acquisition deal
The EGX will likely decrease from 7,756 points to 7,600 points after the failure of the Beltone-CI Capital acquisition deal, said Mohamed Al-Assar
235 ships transit the Suez Canal carrying 14.3m tonnes in the past five days
The average load per ship was about 60,850 tonnes during that period.
Beltone seeks to expand to new markets in Eastern Europe, sub-Saharan Africa: chairperson
Beltone is negotiating new deals in order to become one of the largest investment banks in emerging markets
EGX targets breaking last week’s resistance level of 7,650 points
The EGX kept moving upwards during last week, registering a 1.76% rise as it increased from 7,453.1 points to 7,618 points.
Elsewedy Electric doubles its turnkey project contracts to EGP 21.4bn
The company plans to implement three power plants in Angola this year
Oriental Weavers raises prices of all its products by 7% to cope with rising costs
Exporting Committee developed a strategy to help its subsidiary MAC out of the exports decline, based on adding new production lines and opening new African and Asian markets
227 ships transit the Suez Canal carrying 13.8m tonnes in the last five days
Compared to July 2015, prior to the inauguration of the New Suez Canal, the average daily number of transiting vessels totalled 47 vessels, with an average load of 2.758m tonnes per day