EGX30 closed at 9,977.9 points last week, recording 0.76% decline
Latest by Alyaa Stohy
Decision taken to oblige exporting companies to contract with registered sponsors for structuring process, develop investor relation capabilities
Authority allows settlement of transactions executed on bonds at end of trading session
Extension will apply for additional 30 days starting from 14 June
MTIE reported revenues in the first quarter (Q1) of 2020 of EGP 2.51bn, compared with EGP 2.23bn in Q1 of 2020, and compared to EGP 2.13bn in Q4 of 2020. This meant an increase of 12.7% year-on-year (y-o-y), and 18.1% quarter-on-quarter (q-o-q).
Complex to produce 1 million tonnes of methanol, 400k tonnes of ammonia annually
If market decline continues, EGX30 will be vulnerable for strong selling pressure where next support level will stand at 9,800 points
Project aims to conduct iron processing in Egypt’s oases area, using dry, water-saving magnetic separation technology
Company acquires 13.5% market share
Strength of Q4 2020 carried over, helping company deliver best Q1 on record for gross contracted sales, says Managing Director Maged Sherif
The cables business, notably Pakistani submarine fibre optic cable operator, Pakistan Cables, was the largest contributor to revenues, with 91% as of 2020, or -1.3pps y-o-y), recording EGP 664.2m (-11.1% y-o-y).
For the woven segment, nine new looms will be added to the company’s current capabilities, two of which have already arrived, whilst four Goblin machines will be added to satisfy the intense increase in demand.
MNHD has more than 10,000 units under development across eight key projects in Greater Cairo
Benchmark index EGX30 closed at 10,242.3 points, recording decline of 4.56%
Transaction is expected to be about EGP 1bn
The eight-year loan will be used to finance IDH’s growth plans across new and existing markets, whilst also helping to expand access to high-quality diagnostic services in high growth emerging markets. This comes in addition to its current presence in Egypt, Jordan, Nigeria, and Sudan.
The move comes as part of the authority’s initiative to facilitate work among companies and providers of consumer finance services. It aims to contribute to increasing the purchasing power of the community.
Company plans to add 30-35 new pathology lab branches across Egypt annually
In a press release, the FRA stated that the subsidiary company was listed in the commercial registry on 21 March 2021.
Bulls not able to maintain advances to 10.750 points resistance level, movement to consolidate expected to continue during current week
The surge comes on the back of a positive performance across the majority of the Group’s lines of business in Q1 of 2021.
Step aims to enhance Egypt’s foreign trade in both directions
New company is first of its kind in Egypt, with capital of EGP 25m
Company anticipates reEGPase of Drive mobiEGP application in H2 2021
Initiative comes as part of optimal exploitation of Africa’s natural resources, developing intra-African trade
Last week, EGX30 closed at 10,767.84 points, recording increase of 1.7%
Mohamed Omran’s election also ensures he becomes Vice-Chairperson of IOSCO
Company reported strong performance for the quarter compared to same quarter of previous year
Levant region has lion’s share of group’s export volumes in Q1 2021
In a statement to the Egyptian Exchange (EGX), the company said that it acquired 95% of PT CG Power Indonesia, which specialises in manufacturing electrical transformers in Indonesia.