Similarly, local demand for textiles will be pressured by the curfew imposed on all retail outlets, while textile exports face order postponement or cancellations, due to slower global demand. Oil-based raw material imports are also at risk of interruptions, due to global manufacturing hurdles.
Latest by Alyaa Stohy
Hussein Abdel Halim, Managing Partner at Paradigm, will take over as CEO of Prime Capital. Sherif Bulbul, Executive Partner at Paradigm, will take over the position of managing director.
Egypt’s valuable tourism one of many sectors to see significant decline due to global Covid-19 pandemic
TMG is targeting sales in the fiscal year (FY) 2019/20 similar to those in FY19, of EGP 20.4bn.
EGX 30 index closed at 9,912.98 points, recording an increase of 7.68%. EGX70 EWI index posted 14.15% gain concluding the session at 959.42 points, while the S&P index rose by 8.46% and concluded the session at 1,379.63 points.
These companies include Palm Hills Developments, Eastern Company, Orascom Development Holding, GB Auto, Egypt Kuwait Holding, Raya Holding for Financial Investment, Electro Cable Egypt, and Arab Moltaqa Investments Company.
Fund’s promotional campaign to start after coronavirus crisis ends
Hotel development is at 62%, temporarily delayed due to coronavirus
EGX30 down 2.76%, with turnover falling to EGP 762m
First day of Dr Sulaiman Al Habib Group trading, confirm the solid fundamentals of the stock, says Ebied
Company can sustain the two-week suspension, if extended it will suffer losses
CBE’s initiative should focus on absorbing sale shocks not pushing prices up, says Sabaa
Sukuk, securitisation issues take the lead, especially as interest rates drop
EGX30 down 17.7% last week despite Thursday’s session 5% increase
Constituent committee to hold elections online
EGX keeps dwindling despite tax incentives, interest rates slash
Beltone Financial incurred higher losses in 2019 of about EGP 91.505m, compared to EGP 82.413m in 2018, an increase of 11%, taking into account minority interests.
30 new cases in 24 hours, bringing the total to 196 so far, including 6 deaths, 26 recoveries
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
Global, local stock exchange losses, halting transactions will likely trigger panic selling
Postponing application of capital gains tax to stock transactions is more harmful than maintaining its current status: Saeed
On the positive side, EGX30 Index witnessed a notable rise during Tuesday’s session, gaining (+1.97%) and closed at the session’s high of 11,199 points associated with above average volumes.
There must be a strong representation of fixed income instruments within the union: El-Sawy
Company aims to expand into Africa, says chairperson
Company working on issuing debt instruments, applied at FRA for ’market maker’ licence
Every EGP 1 injected into The Sovereign Fund of Egypt brings 10-fold from investors
EGX30 drops 7.31% to close at 10,983.48 points
It came on the sidelines of a conference between the government and the private sector organised by the Egyptian Junior Business Association.
The EGX 30 index closed at 12,347.65 points, recording a decline of 5.08%. EGX70 EWI index posted a 3.01% loss, concluding the period at 1,172.87 points, while the S&P index declined by 3.35% and concluded the period at 1,765.15 points.
TAQA Arabia is 55.9% owned by Qalaa Holdings. It is expected to continue reporting strong profit growth via its energy distribution activities.