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The company said in a statement on Tuesday that the sale process has not been completed yet, and accordingly, the final value of the deal has not been determined.
Beltone said in a statement on Thursday that the agreement will be finalized after obtaining the approval of the Financial Industry Regulatory Authority (FINRA) in the US.
The highest growing category annually remains education, showing a 28.5% y-o-y rise, followed by recreation and culture, as well as transportation, growing at 14.3 % and 13.4% y-o-y in March, respectively
Limited impact on inflation, which remains in CBE target zone, despite expected pressures
Beltone analysts maintain average inflation expectations of 6.5%, which should keep headline inflation within CBE’s target zone by year-end
Company working on issuing debt instruments, applied at FRA for ’market maker’ licence
Decrease in financing expenses supports profitability; improved corporate lending is major positive factor
In a research article, Beltone expected the Central Bank of Egypt (CBE) to continue monetary easing through interest rate reductions by about 300 basis points in 2020. The article also predicts that the CBE will keep interest rates unchanged after the next Monetary Policy Committee (MPC) meeting scheduled for 16 January. This will be in …
Lending to regain its pull as primary utilization shelters on lower interest rates and new tax law amendments on government securities; remains demand driven
The NAC creates growth potential for OWRE
Beltone set EK Holding fair value at $1.5 with expectations to upgrade it
EGP strength is the pinnacle of reforms in 2020, and all odds are in favor of it
The company recorded EGP 96m in FX losses during the quarter
Domty’s market share in Cairo has increased
Egypt will witness the deletion of AMOC EY and SKPC EY
Beltone foresees inflation averaging 4.8% in 4Q19
Eased monetary policy is expected to mark the third rate cut this year, state’s budget to balance by 2025
Qatar to witness the largest absolute outflows among MENA region, while Egypt ranks Fourth
Inflation recorded positive increase in September, lower than our expectations
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
We do not expect pressure on local currency after interest cut, exchange rate will average EGP 16-17 per US dollar, says Mamdouh
This conference aims to showcase the Egyptian economy’s latest developments, in light of the country’s economic reform programme, to inform investors in the UAE and international peers about investment opportunities in many sectors and companies listed in Egypt.
Arab African International Securities targets EGP 7bn in managed assets by year-end
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
The note added that the prices for higher consumption brackets, above 1,000 kW, remain unchanged at EGP 1.45/kW, as they already pay above the production cost of EGP 1.22/kW.
Beltone estimate that non-cheese revenue to grow by 61%, with Domty’s cheese sandwich revenues expected to double, due to the surprise price hike executed in the first quarter (Q1) of 2019 (factory price increased from EGP 2.5 to EGP 3.5).
Egypt continues to provide attractive investment opportunity supported by raised credit rating, pound appreciation