Mohamed Ahmed

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Latest by Mohamed Ahmed


232 ships transit Suez Canal carrying 13.7m tonnes in past 5 days

Suez Canal traffic data showed that 232 ships transited the canal, with a total load of 13.7m tonnes, from 14 to 18 August 2016. An average of 46.4 ships per day transited the canal during that period, with an average load of 2.74m tonnes per day. The average load per ship was about 59,050 tonnes …

Mohamed Ahmed

Sideways trend dominates Gulf markets in past week’s trading

The Arab Gulf stock markets experienced a sideways trend over the past week affected by the high price of Brent Crude, which rose from $42.14 up to $46.97 per barrel since the beginning of August. Qatar led the region-wide rise to finish 2.57% higher during the past week’s trading. It increased from 10,681.08 points to …

Mohamed Ahmed

327 ships transit Suez Canal with 18.8m tonnes in last week

Suez Canal traffic data revealed that 327 ships transited the canal, with a total load of 18.8m tonnes, from 5 to 11 August 2016. An average of 46.71 ships transited the canal per day during that period, with an average load of 2.7m tonnes per day. The average load per ship was about 57,500 tonnes …

Mohamed Ahmed

Global Telecom to launch 4G service in Algeria in last quarter of 2016

Djezzy, a subsidiary of Global Telecom, aims to launch fourth generation wireless services (4G) in Algeria this autumn, during the last quarter of 2016, according to an investment report by Global Telecom. The company explained that the 4G network is considered a major step towards supporting Djezzy’s situation after revenues declined during the second quarter …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX expected to range from 8,400 to 8,500 points this week

Technical analysts predict that the Egyptian Exchange (EGX) will continue its rising trend, to reach 8,450 and 8,500 points during this week’s trading. Should the EGX face resistance, it could result in a decline to 8,100 points. The expectations tailed an increase in EGX30, as it had reached 8,255 points. The market has been climbing …

Mohamed Ahmed

EPEA seeks to launch 1st professional financial analysts for direct investment certificate

Board member of the Egyptian Private Equity Association (EPEA) Haitham Wagih said the association is currently penning the framework for issuing the first certified certificate for training financial analysts in direct investment—which would be the first of its kind in Egypt. Wagih said that EPEA is currently establishing bridges of communication with banks and investment …

Mohamed Ahmed

US dollar shortage threatens NCMP EGP 1.2bn expansion plan

The National Company for Maize Products (NCMP) is considering temporarily suspending its expansion plans worth EGP 1.2bn due to lower production volumes of the company. The lowering production rate is driven by recession in global markets as well as the ongoing US dollar price hikes in the Egyptian market. A senior source at NCMP, who …

Mohamed Ahmed

On the Nile stock exchange, the Mediterranean Company and Pioneers Holding ranked joint highest in total amounts of stock traded. (AFP Photo)

EGX expected to stay at 7,400 during Sunday trading

Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, leaning south, amid uncertainty of the Central Bank of Egypt’s (CBE) vision during the Sunday session. Last week, the EGX declined by 1.93% and closed at 7,437, after the CBE kept the value of the national currency unchanged for the second week …

Mohamed Ahmed

335 ships transit the Suez Canal last week carrying 19.63m tonnes

Suez Canal traffic data revealed that 335 ships transited the canal from 16 to 22 July, carrying a total load of 19.63m tonnes. An average of 47.86 ships transited the canal per day during that period, with an average load of 2.8m tonnes per day. The average load per ship was about 58,600 tonnes during …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX expected to range from 7,550 to 7,600 points during Sunday trading

Technical analysts predicted that the Egyptian Exchange (EGX) will continue its sideways trend, ranging between 7,550 and 7,600 points during the Sunday session. A steady session is expected after the good performance of the stock market in the previous week. The analysts had said that the market was expected to break its sideways trend during …

Mohamed Ahmed