Welcome to our daily podcast featuring the day's top news commentary and technical recommendations delivered to you before the opening bells of the Egyptian Stock Exchange (EGX).Alongside our morning podcasts, we will be publishing a collection of episodes presenting indepth analysis and insights on EGX's equities, all brought to you by Al Ahly Pharos.
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- Market Overview - TMGH - CLHO - AMOC - EKHO Prepared of : Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Market Overview OIH TMGH ORWE CSAG FWRY prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Market Overview Prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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The CBE's MPC is scheduled to meet on Thursday, 26 December. We expect the CBE to prefer to hold rates unchanged in its upcoming meeting. Even though the annual inflation reading dipped below 26% in November, some price hikes such as the recent telecom hikes are still passing through inflation readings. Besides, the recent gradual increase in USD r…
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- Market Overview - ESRS - ARAB - CSAG - EGAL - prepared by: Mayada Amin - CETA, CFTeBởi Al Ahly Pharos
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The EU approved the disbursement of an EUR 1 bn macro-financial assistance package. The package marks the first phase of a EUR 5 bn set of concessional loans running through 2027, which comes as part of a wider EUR 7.4 bn package from the EU announced in March. The China Communications Construction Company (CCCC) is interested in working with the M…
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- Market Overview - AMOC - ADIB - CIEB - BTFH - PHDC - prepared by: Mayada Amin- CFTE, CETABởi Al Ahly Pharos
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The Egyptian Mineral Resources Authority launched a global tender for the exploration of kaolin sand, glass sand, and other minerals yesterday, according to a statement from the Oil Ministry. Investors have until 13 February to submit their offers. Finance Minister Ahmed Kouchouk has extended the window for settling tax disputes until 30 June 2025 …
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- Market Overview - Prepared by : Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Net foreign assets of the CBE increased by USD1.17 billion in November to record USD11.8 billion, compared to USD10.64 billion in October. Egypt has trimmed its fuel consumption 6% to 171 grams per kWh over the past few months. The reduction in demand is saving the country some EGP1.2 bn monthly. The Ministry of Finance aims to reduce the external …
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- Market Overview - AMOC - GBCO - ORWE - TMGH - Prepared by: Mayada Amin - CETA, CFTeBởi Al Ahly Pharos
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Chinese steelmaker Wu’an Xin Feng has a plan to set up a USD1.7 bn integrated industrial complex in the Suez Canal Economic Zone (SCZone). Egypt’s oil subsidy bill for the current fiscal year is expected to surpass EGP200 bn, significantly higher than the EGP154 bn initially allocated, a source said. Prime Minister Moustafa Madbouly met with Saudi …
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Transport and Industry Minister Kamel El Wazir laid out the 23 industries that the government is looking to localize, adding that the state is offering incentives and facilities to attract investments into these selected sectors. The Qantara West Industrial Zone will welcome two new projects with combined investments of USD38 mn following agreement…
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- Market Overview - COMI - ISPH - ADIB - ORWE prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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UAE’s AMEA Power will set up a USD600 million, 5 GW wind power project in the Gulf of Suez in cooperation with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority (NREA). There is a plan to launch renewable projects with a combined capacity of 10 GW and combined investments of USD10 billion from 2023-2028 under …
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- Market Overview - COMI - GBCO - ARCC - CCAP - prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Prime Minister Mostafa Madbouly announced in his weekly presser that the government is planning to offer up stakes in ten state-owned companies in 2025. The offerings will be via direct sales to strategic investors and/or through EGX listing. The cabinet also approved a EUR 7 mn comprehensive technical support package to support Egypt’s green trans…
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- Market Overview - EAST - ESRS - ORWE - EHDR - prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Annual headline urban inflation declined to 25.5% in November from 26.5% in October. Monthly headline urban inflation declined to 0.5% in November 2024 from 1.3% in November 2023 and 1.1% in October 2024. Annual core inflation declined to 23.7% in November from 24.4% in October, while monthly core inflation decreased to 0.4% in November 2024 from 1…
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Market OverviewBởi Al Ahly Pharos
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Derivates will begin trading on the EGX in 2Q 2025, Financial Regulatory Authority Deputy Chairman Islam Azzam said. Azzam highlighted futures contracts for indices as being among the incoming additions. The FRA is also considering offering financial leasing loans for industrial lands from the Industrial Development Authority (IDA) for the first ti…
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Market Overview - prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Egypt is in talks with the International Monetary Fund to extend timelines for key reforms under its economic reform program, a senior government official said. The official expects Egypt to be placed on the IMF Executive Board’s agenda before the Christmas holidays for the amendments to be given the final greenlight. The average yield on three-mon…
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Wataneya and Safi are named as among the up-to-four military companies to be offered up on the EGX, unnamed sources said. The National Service Products Organization-owned filling station operator and bottled water company are reportedly currently being reevaluated ahead of a listing scheduled for 1Q25. The EGP fell to its lowest level on Thursday s…
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- Market Overview - ALCN - AMOC - BTFH - CIEB - CLHO - prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Prime Minister said that there is a plan to offer three to four companies affiliated with the military on the EGX. We should know more next week with the release of the government’s privatization plan for the coming period. Prime Minister said that foreign companies, both new to the market and veterans, are getting ready to launch projects, includi…
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- Market Overview - ADIB - FAIT - FWRY - ORWE - SAUD - prepared by: Mayada Amin - CETA, CFTeBởi Al Ahly Pharos
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*Key news articles for today* The government is planning on offering up stakes in its majority-owned Port Said Container and Cargo Handling Company (PSCCHC) and Damietta Container and Cargo Handling Company (DCHC) on the EGX during 1Q25. The sources expect the government to offer 20-25% stakes in each company, with the IPO’s private placement focus…
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- Market Overview - COMI - EAST - EFIH - ATLC - DSCW - Prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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The recently formed Entrepreneurship Ministerial Committee has announced ambitious plans to increase investments in Egypt’s startups tenfold to USD5 bn in the coming period, through easing market entry among other measures. Industry Ministry revealed new information about the government’s plans to localize automotive feeder industries with a USD 36…
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Market Overview PHDC DSCW ORHD ACGC prepared by: Mayada Amin - CETA. CFTeBởi Al Ahly Pharos
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Hassan Allam Holding and ADP France have submitted a joint proposal to manage and operate Egyptian airports. UAE-based EV infrastructure company Zero Carbon is currently undertaking feasibility studies ahead of a launch in the Egyptian market. Egypt is planning to carry on importing liquefied natural gas until the country closes the gap between dom…
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- Market Overview - FWRY - GBCO - HELI - EAST - ADIB - prepared by: Mayada Amin - CETA, CFTeBởi Al Ahly Pharos
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German companies are mulling several investments in Egypt, including: A EUR 1 billion direct reduced iron factory. A EUR 30 million flame-resistant material factory. A EUR 5 million first phase of a bicycle parts factory. Auto parts factory in Egypt. China Glass Holding subsidiary CNG Egypt New Energy Glass kicked off construction work on a USD300 …
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- Market Overview - COMI - FWRY - ORHD - ISPH prepared by: Mayada Amin-CETA, CFTeBởi Al Ahly Pharos
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A “very important” Qatari real estate project on the North Coast is in the works, Prime Minister Mostafa Madbouly said. The Gulf nation is also looking into investments into the North Coast’s tourism and hospitality sectors, according to Madbouly, who added that they will soon present Qatar with a list of relevant investments that may be of interes…
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*Key news articles for today* The government is planning to issue its first EGP-denominated sovereign sukuk in the domestic market in the next fiscal year. The government is planning to localize 50% of all vaccine production by 2030. There will then be efforts to increase this to 75% by 2035 and full self-sufficiency by 2040. The government has all…
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Market Overview COMI ADIB EKHOA ETEL EFIH Prepared by: Mayada Amin- CETA , CFTeBởi Al Ahly Pharos
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The government is mulling a permanent exemption for factories from property taxes and either raising the residential tax exemption cap or doing away with it altogether for first homes, Deputy Finance Minister said. Remittances from Egyptians working abroad more than doubled YoY in September to hit USD2.7 bn. The CBE sold EGP75.2 bn worth of t-bills…
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Market Overview Prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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Imported mobile phones could be subject to customs and tax fees totaling 37.5%, as part of incoming government regulations to support the country’s mobile phone manufacturing localization efforts. Prime Minister is gearing up to announce “positive news” regarding the airport privatization plan developed with the International Finance Corporation (I…
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Market Overview prepared by: Mayada Amin- CETA, CFTeBởi Al Ahly Pharos
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The CBE's MPC is scheduled to meet today. We remind you that we expect the CBE to prefer to hold rates unchanged in today’s meeting due to persistent inflationary pressures, among other factors. Senior private and public sector figures from Egypt and the UAE inked numerous investments: Cabinet greenlit two power purchase agreements for two separate…
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Market Overview EMFD HELI PHDC TMGH GGCC prepared by: Mayada Amin - CETA, CFTeBởi Al Ahly Pharos
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United Bank will kick off its planned offering on the EGX today. The total offering could see the bank raise up to EGP5.1 bn by floating an equivalent to a 30% stake. The number of tourists visiting Egypt increased during Jan - November 2024 by 4% compared to the same period last year. Egypt's imports of fuel shipments increased to more than USD12.…
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