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Limited positive impact on fiscal maneuverability after rates cut, yet downside risks remain: Beltone
Beltone analysts maintain average inflation expectations of 6.5%, which should keep headline inflation within CBE’s target zone by year-end
Beltone expects to postpone government proposals to 2H 2020
Company working on issuing debt instruments, applied at FRA for ’market maker’ licence
CIB continues to grow healthy profits: Beltone
Decrease in financing expenses supports profitability; improved corporate lending is major positive factor
Beltone expects interest cuts by 300 basis points in 2020
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 …
Steady expansion in banks’ financial position: healthy growth in money supply, thanks to positive nominal GDP outlook: Beltone
Lending to regain its pull as primary utilization shelters on lower interest rates and new tax law amendments on government securities; remains demand driven
OWRE fair value from EGP 14.6 to EGP 11.75: Beltone
The NAC creates growth potential for OWRE
EK holding’s revenues grew by 9.7% YoY recording $125.2m: Beltone
Beltone set EK Holding fair value at $1.5 with expectations to upgrade it
Beltone Financial recommends investing in Egyptian market
EGP strength is the pinnacle of reforms in 2020, and all odds are in favor of it
El Sewedy Electric 3Q19 profits dropped by 7% QOQ to EGP 924m, falling in line with Beltone estimate
The company recorded EGP 96m in FX losses during the quarter
Domty’s net income jumps by 35% in 3Q19 beating expectations: Beltone
Domty’s market share in Cairo has increased
MSCI announces November 2019 SAIR results with 13 deletions and six additions: Beltone
Egypt will witness the deletion of AMOC EY and SKPC EY
CBE to cut rates by 50-100bps at upcoming MPC meeting: Beltone
Beltone foresees inflation averaging 4.8% in 4Q19
Saudi Arabia’s GDP to record 0.7% in 2019: Beltone
Eased monetary policy is expected to mark the third rate cut this year, state’s budget to balance by 2025
North Africa’s equity market sees $51m outflows in November: Beltone
Qatar to witness the largest absolute outflows among MENA region, while Egypt ranks Fourth
Further opportunity to cut interest rate by 50-100 points on 14 November: Beltone
Inflation recorded positive increase in September, lower than our expectations
Egypt has no problem in paying off its debts and foreign obligations: CBE
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
Beltone forsees 0.5% interest rate cut in CBE’s coming meeting, 3% cut in 2020
We do not expect pressure on local currency after interest cut, exchange rate will average EGP 16-17 per US dollar, says Mamdouh
Beltone Access conference to spotlight Egypt’s investment opportunities in Dubai
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.
Beltone holds 38.8% of asset management market, Hermes manages largest number of funds
Arab African International Securities targets EGP 7bn in managed assets by year-end
Strong growth in Al Baraka Bank Egypt’s financial position supported by ample funding potential: Beltone
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.
Rate cut essential to support growth, reduce debt service burden: Beltone
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Beltone expects CBE to keep interest unchanged
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
Beltone’s outlook for banking sector remains positive despite recent regulatory reforms
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
New electricity tariffs will save EGP 16bn from overall electricity subsidies in FY 2020: Beltone
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 raises Domty’s FV to EGP 14.8, maintains buy rating on back of buoyant sandwich business
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).
Chance exists to reduce interest by 1% in May after inflation ease in April: Beltone
Egypt continues to provide attractive investment opportunity supported by raised credit rating, pound appreciation
QNB Alahli achieves strong growth in net profits despite high operational expenses
Bank maintains deposit portfolio of non-interest-bearing deposits, variable-rate deposits
Reform achievements are impressive, ensuring sustainability is essential: Beltone
Firm forecasts EGP 17.6 per USD in FY 2018/19, EGP 17.1 per USD in FY 2019/20
Fixing 95 octane’s price supports chance for 1% interest cut during CBE’s meeting in May ‘19: Beltone
Decision confirms our vision to contain inflationary pressures in H1 of 2019
Interest rates reduction decision by CBE is bold, revives investments in all sectors: Beltone
Decision will pave way for new reduction in interest rates in H1 2019