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Company will announced IPO price next week
Reuters – Dubai Investments, a diversified manufacturer and investor in property, plans to increase the limit on foreign ownership of its shares to 35% of its total capital, the company said on Sunday. Foreign investors now hold 13.7% of Dubai Investments’ shares out of the total 20% allowed, bourse data shows. The firm’s shareholders, including …
Egypt’s index rose 1.6% to 8,127 points as it became clear that Sisi would remain defence minister
Reuters – Egypt’s bourse surged to a five-year high after a local newspaper reported that discussions over a new presidential election law would begin on Wednesday, while Dubai’s shares fell in profit-taking after mixed earnings reports. Cairo’s Al-Ahram said an administrative court, under the mandate of the 2014 constitution, would start discussions on the draft …
Reuters – Shares in Dubai’s Emaar Properties surged to a 65-month high on Thursday after the firm regained its investment-grade credit rating, while Egyptian shares rose amid a regional uptrend on expectations that the army chief would run for president. Emaar, Dubai’s largest developer, jumped 4.7% to 8.30 dirhams. Standard and Poor’s raised its long-term …
New regulations will be implemented to help boost trading on the bourse and attract more investment
As the market reaches its highest levels since 2011, analysts say political stability in 2014 provides a ray of hope for Egypt’s capital market
Egypt index gained 0.4 percent to 6,748 points.
Market indices drop was due to profit-taking by investors: member of EGX board of directors
After diplomatic downgrade, Egyptian-Turkish economic relationship is questioned
By Olzhas Auyezov – Reuters Egyptian stocks have been on the rise since the ouster of former president Mohamed Morsi in July, driven largely by local retail investors who support the new army-backed government – but are wary of any escalation of violence. “Yesterday was a dramatic day and the country has entered a period …
Market managed to register increases in all indexes
The company said it would offer 70 million shares on the New York Stock Exchange, generating $1.82 billion, and give underwriters a 30-day option to purchase an additional 10.5 million shares of common stock.
Egyptian bourse surges on Wednesday while investors anticipate Morsi trial on 4 November
Egyptian markets witness expected losses after steady climb
Stock exchange management denies claims that it would be privatised, citing outdated nature of study
Stock market witnesses the biggest fall since the 14 August violence.
Benchmark index closes up 0.9% at 5473.22 points.
Following Egypt’s political turmoil, the linking of the Egyptian and Turkish stock exchanges postponed
Local media have reported news of new bourse head and chief of EFSA
The break is set to last four days until 11 August, with stock market sources
Recent improvements seen in the stock market and decreases in the cost of insuring government debt have reflected positively on the feelings of those working and operating within the sector, who recently decided to decrease return rates on Treasury bonds by 1%
Operations would resume Wednesday 24 July.
New bourse head says number of individuals subject to blocked accounts on the rise
The analysts stated that the recent downgrade would not have a large affect on Egypt’s banking sector, adding that the value of stock for some banks may decrease as a result, but only for one or two trading sessions at the most.
The EGX 70, an index of small and medium-sized companies,declined by a precipitous 5.32%, while the broader EGX 100 slid 4%.
Tariq Abd al-Bari, chairman of Misr for Central Clearing, Depository and Registry, stated that the company had not yet received any orders to freeze the assets of any individuals since the outbreak of recent protests on 30 June.
Retired investors return to stock market on optimism about the country’s economic future
Egypt may be bumped from “emerging market” to “frontier market” on lack of liquid investments
The consulting firm says Egypt’s consumption price index increased by 4% due to increases in food prices and the devaluing of the Egyptian pound