Sources close to deal expect it will be officially closed by November
Latest by Alyaa Stohy
The plan includes clear mechanisms and action plans for the HHD’s development based on self-resourcing. It will also include partnership agreements with some developers to exploit a portfolio including plots of land, similar to the agreement signed with SODIC to develop 650 feddan in New Heliopolis.
We intend to bring our electronic expertise to funds we manage, similar to Suez Canal Bank fund, says Aboul Enien
Pharos Holding witnesses substantial leap on previous month, gaining first place, with trading value of EGP 7.2bn
Industry sources told Daily News Egypt that companies, including Egyptalum, continue to push hard for a further lowering of electricity prices from the current $0.06/kwh or EGP 1.0/kwh, to $0.04/kwh.
GB Auto market share declined to 13.9%, down from 19.5% in April
Company attributes quarterly loss to weak operating performances on back of plummeting demand
The company posted profits of EGP 26m for the two-month period over April and May 2020, compared to the EGP 7m reported in the same two month period of 2019.
Company’s Morocco factory will start operations by beginning of 2021, says Shams Eldin
Subject to regulatory and corporate approval, the joint venture will establish the university’s campus over a targeted land area of 100,000sqm in Badya, which is strategically located in the heart of West Cairo.
Solvency standards set minimum capital adequacy to meet credit. operating risks at consumer finance companies
2,700 citizens use nano-finance products with loans amounting to EGP 650,000 end-May, says Omran
Despite slashing capex budget to EGP 650m from EGP 790m, management optimistic about H2 of 2020
The syndicated credit facility will partially finance the investment cost of Hacienda Bay, one of the real estate developer’s major projects in the North Coast, according to a statement to the Egyptian Exchange on Thursday.
The pharmaceuticals firm awaits the Egyptian Ministry of Health’s approval to export the antiviral drug, Morsy noted.
Transferred financial value funds provide financing for all financing companies, says Omran
The company reported that net revenues stood at EGP 260.2m, down 40% quarter-on-quarter (q-o-q) and 23% year-on-year (y-o-y).
Recovery from coronavirus crisis could take up to 18 months: Head of Research at EFG
Market capitalisation up by EGP 10.6bn, EGX30 up by 2.55%
EDA also grants approval for Rameda to begin manufacturing intravenous Remedisivir vials
The sharp movement in the yield curve was accompanied by a drop in the demand/subscription ratio. Monday’s auction saw average yields on the three-year and seven-year T-bonds increasing to 13.883% (up from 13.514%) and 13.861% (up from 13.723%).
These sectors cover the industrial and agricultural development and related marketing activities, as well as complementary products and services.
Bank to continue buying shares in CI Capital to bring its stake to 20-25%, say sources
The bottom-line recorded a loss of EGP 31m in 1Q 2020, compared to a loss of EGP 33m in 4Q 2019.
Company has EGP 7.7bn liquidity sources, of which EGP 2.7bn is in cash and equivalents
MCDR’s new chairperson will be elected for one-year term to complement the current board’s tenure from 2018 to 2021.
EFG Hermes has also been an early adopter of the International Financial Reporting Standard 16 (IFRS 16), in the first quarter (1Q) of 2020, and which hit that quarter’s income statement due to declining markets. No further significant one-off impacts from IFRS 16 is expected.
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
Bank equity shielded against currency weakness through $200m IFC, EBRD support loan packages
Ongoing pandemic, temporary suspension of building permits have affected demand for cement across Egypt