Pre-Trading Thoughts
Manage episode 336566488 series 2987212
Egypt’s PMI recorded 46.4 in July, up from a two-year low of 45.2 in June.
Revenues at the Suez Canal reached a record high of USD 704 mn in July (+32% YoY). SCA expects Canal revenues to hit USD7.8-8.0 bn in 2021, up from USD6.3 bn in 2021.
ADQ Holding is in negotiations with the Egyptian government to acquire an additional stake of about 10 to 15% in MFPC.
Eight major GCC and foreign investors will pump USD7.3 billion into the green hydrogen and green ammonia projects in Egypt.
EFID’s BoD approved the purchase of 36 mn treasury stocks representing 5% of the total outstanding shares of the company over the course of the next two months.
SUGR released 1H22 bottom line came in at EGP544 mn (+58.2% YoY).
Egypt is set to sign an MoU later this week with a Chinese home appliances manufacturing company to build an industrial zone in Egypt. US tourism to Luxor is scheduled to return in September 2022.
EGTS filed two lawsuits against two board members to oblige them to pay USD14.3 million (translating into EGP0.26/share) owed to EGTS, with the court date scheduled on 3 September 2022.
NUCA is seeking regulatory approval for a record-breaking EGP 20 bn securitized bond issuance.
About 259 million shares responded to the offer of Chimera Capital for the acquisition of Beltone Financial, which represents about 62% of the company’s shares.
Egypt is witnessing an acceleration in the use of a wide range of digital payment systems, as 88% of individuals used at least one new payment method during the past year.
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