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Manage episode 426904252 series 2987212
*Key news articles for today*
The names of the new Cabinet were announced, with close to 20 new faces set to take over ministries. Among main changes was the Minister of Finance, as Ahmed Kouchouk is replacing Mohamed Maait.
Real estate player El Attal Holding is planning to list 30-35% of its shares on the EGX in 2025.
The Ministry of Petroleum has repaid USD1.3 billion to foreign oil and gas companies at the end of June, a government source said. Another official said that the government paid 20% of the companies’ dues last month, and is working to pay the largest possible amount of dues this year, but paying the full amount before the end of 2024 might be difficult.
The CBE accepted bids from 31 banks for EGP 1.1 tn in fixed-rate deposits at a rate of 27.75% during its weekly fixed-rate auction
Dutch lighting manufacturer Signify — formerly known as Philips Lighting — and local electrical solutions manufacturer Gila Electric are in talks with the government to launch four projects worth a combined USD 106 mn.
The Federation of Egyptian Chambers of Commerce (FEDCOC) will submit a proposal to the Local Development Ministry recommending changes to the current opening and closing times for retail shops, which currently close at 10pm under a new initiative to end blackouts this summer.
TMGH (FV: EGP75.00, OW) achieved reservations in its North Coast project, SouthMed, of over EGP60.0 billion in 12 hours since the opening of bookings before the official launch. The company expects SouthMed to generate sales of over EGP1.6 trillion over the project’s duration and estimates investment cost at EGP1.0 trillion.
PHDC (FV: EGP7.11, OW) Board approved a share buyback of up to 88.2 million treasury shares during the period 2 July 2024 to 31 July 2024.
ABUK and MFPC restarted operations at their factories yesterday following the resumption of natural gas supplies.
The CBE has issued new guidelines aimed at improving the composition and governance of bank boards, aiming to bolster decision-making and operational efficiency within banks.
The financing gap for SMEs in Egypt is estimated at around USD 46 bn, but these businesses contribute more than 43% of the country’s GDP, according to the latest report from global payments giant Visa.
Al Ahly CIRA — will develop four new international university models in Egypt under a newly-signed agreement with the Sovereign Fund of Egypt (SFE).
1405 episode
Manage episode 426904252 series 2987212
*Key news articles for today*
The names of the new Cabinet were announced, with close to 20 new faces set to take over ministries. Among main changes was the Minister of Finance, as Ahmed Kouchouk is replacing Mohamed Maait.
Real estate player El Attal Holding is planning to list 30-35% of its shares on the EGX in 2025.
The Ministry of Petroleum has repaid USD1.3 billion to foreign oil and gas companies at the end of June, a government source said. Another official said that the government paid 20% of the companies’ dues last month, and is working to pay the largest possible amount of dues this year, but paying the full amount before the end of 2024 might be difficult.
The CBE accepted bids from 31 banks for EGP 1.1 tn in fixed-rate deposits at a rate of 27.75% during its weekly fixed-rate auction
Dutch lighting manufacturer Signify — formerly known as Philips Lighting — and local electrical solutions manufacturer Gila Electric are in talks with the government to launch four projects worth a combined USD 106 mn.
The Federation of Egyptian Chambers of Commerce (FEDCOC) will submit a proposal to the Local Development Ministry recommending changes to the current opening and closing times for retail shops, which currently close at 10pm under a new initiative to end blackouts this summer.
TMGH (FV: EGP75.00, OW) achieved reservations in its North Coast project, SouthMed, of over EGP60.0 billion in 12 hours since the opening of bookings before the official launch. The company expects SouthMed to generate sales of over EGP1.6 trillion over the project’s duration and estimates investment cost at EGP1.0 trillion.
PHDC (FV: EGP7.11, OW) Board approved a share buyback of up to 88.2 million treasury shares during the period 2 July 2024 to 31 July 2024.
ABUK and MFPC restarted operations at their factories yesterday following the resumption of natural gas supplies.
The CBE has issued new guidelines aimed at improving the composition and governance of bank boards, aiming to bolster decision-making and operational efficiency within banks.
The financing gap for SMEs in Egypt is estimated at around USD 46 bn, but these businesses contribute more than 43% of the country’s GDP, according to the latest report from global payments giant Visa.
Al Ahly CIRA — will develop four new international university models in Egypt under a newly-signed agreement with the Sovereign Fund of Egypt (SFE).
1405 episode
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