FinCorp focuses on governance structure, feasibility studies as remedy to financial stagnation
The company contracted as a financial consultant in seven operations in the Egyptian and Saudi Arabian markets
Mohamed Ahmed
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Latest by Mohamed Ahmed
271 ships transit Suez Canal with 14.8m tonnes in last 6 days
The average number of the ships that transited the canal daily recorded 45.2 ships, with an average load of 2.3m tonnes daily, while the average load of every ship was 54,600 tonnes
EFSA proposes financial services companies be involved in CBE microfinance initiative
Financial services companies with experience in financing small businesses can link banks to clients, says EFSA chairman
Banks lack clear vision in application of capital conservation buffer ratio
The capital conservation buffer ratio is intended to strengthen a bank’s main capital base to ensure a bank can cover losses that may arise during periods of economic or financial crisis
EGX chairman to attend IIF roundtable in Washington to promote investment in Egypt
Omran will hold talks with three international investment institutions which manage investments of $100bn to discuss possible investment in the EGX
GB Auto considers expanding in Algeria
The company announced in 2013 that it would enter the Algerian market by signing an alliance with the Algerian group, Rahmouni. At the time, GB Auto said it targets a market share of 4-5%
Sawiris-CI Capital undergoes exceptional examination by EFSA
The examination of the current deal is more accurate than that of Beltone’s deal, led to discovering previous violation, says EFSA chairperson
EGX to cancel operations that result in ‘unjustified’ increases in Beltone shares’ value as precautionary measure
The law provides the EGX chairman absolute power to cancel operations, which has sparked a furore among Beltone officials, says high-ranking EGX source
292 ships transit Suez Canal with 16.2m tonnes in 6 days
An average of 48.7 ships transited the canal per day during that period, with an average load of 2.3m tonnes per day
OTMT, CIB agree to extend acquisition offer before its conclusion on Thursday
OTMT made the acquisition offer through its affiliated company Beltone Financial. The offer was concluded by the end of March, which pushed Beltone to extending the period of the offer by 14 days, ending 14 April
Capital market sees activity in acquisition of financial consultancy licences
A number of companies seek to acquire existing financial consultancy licences to avoid the procedures of obtaining new licences and the process of selecting managing directors
GB Auto will continue to raise prices to support profit margins: Ghabbour
The company has made progress in building stock to help overcome challenges related to stalled import procedures
South Valley Cement Company to decide on cement licenses with $200m investment by April
The meeting will also decide on a plan for expanding the production capacity, according to Board Member Ahmed El-Mikati
290 ships carrying 16.2m tonnes transit the Suez Canal last week
An average of 41.4 ships transited the canal per day during the past week, with an average load of 2.3m tonnes per day. The average load per ship was about 55,900 tonnes
Real estate companies in EGX move towards strengthening their financial, marketing positions
The increase in sales was a surprising development for the majority of companies that recorded a growth in sales.
Foreign investors record EGP 402m net sales in EGX during Q1 of 2016
The report showed that Egyptian investors acquired 86.25% of total trading, compared to 7.8% acquired by foreign investors, and 5.94% by Arab investors
Ezz Steel expects continued foreign exchange challenges, decline of global market in short-term
The company managed to turn profits in Q4 of 2015, and reduce losses owing to lower cost of raw materials, opening Ezz Rolling Mills
304 ships transited Suez Canal last week with total load of 17.5m tonnes
About 153 ships transited the canal towards the south, with a daily average of 21.86 ships and a total load of 9.1m tonnes of cargo, a daily average of 2.2m tonnes
National Fund Management Company (Al-Ahly) suggests establishing a stock fund: Khalifa
Company negotiating with EgyptAir and Arab Contractors to manage their insurance funds
Executive regulations of Movable Guarantees Law to be submitted within 1 month
The executive regulations include technical measures, such as organising the electronic registry of the guarantees and risk management, says EFSA chairman
EGX considers allowing Egyptian investors to obtain sale proceeds of GDR in dollar: chairman
We understand investors’ demands, coordinating with EFSA to abolish restrictions on international transfers of GDR, says Omran
320 ships transited Suez Canal with total load of 16.4m tonnes last week
Prior to the inauguration of the New Suez Canal in July 2015, there was a daily average of 47 vessels transiting the canal, with an average load of 2.758m tonnes per day
Oriental Weavers collects EGP 51m in outstanding dues of export subsidy
The company has three-part plan to stimulate exports by purchasing new machines, entering new markets in Gulf, Asia
2.6% decline last week in cost of insuring Egypt’s debt
Beltone asserted that the pound’s devaluation and the increase in the return on treasury bills will increase investors’ confidence
Domty’s share increases by 9.35% from offering rate on the initial days of its trading
Although the session closed at the share’s increase of 9.35% compared to the offering price, it declined by 1.76% from the opening price
Suez Canal records annual increase in revenues for first time in 13 months
The authority revealed that $401.4m were recorded revenues in February
EFSA rejects investors’ demands for end of GDR restrictions
EFSA to reconsider procedures governing GDR profits, repatriation, double-entry stocks
Domty IPO oversubscribed by 10.718 times
Shares in the Arabian Food Industries Company’s (Domty) initial public offering (IPO) were oversubscribed by 10.718 times at the closing of the IPO on Thursday. Thursday marked the final day of the IPO, which was held on the Egyptian Exchange for approximately 12.250m shares. A total of 2,430 subscribers were registered for approximately 131.306m shares. …
Horizontal trading at 7,100-7,150 points expected on EGX: analyst
The increase follows the Central Bank of Egypt’s (CBE) decision to devalue the pound by 14.5% against the dollar, after holding an exceptional dollar auction for $200m
Pound devaluation shakes market
EGX-30 jumps by 6.7%, amid renewed hopes for FDIs and major concerns over inflation and budget deficit