EPISODE · Dec 15, 2021 · 3 MIN
Pre-Trading Thoughts
from Al Ahly Pharos · host Al Ahly Pharos
Egypt’s economy is expected to grow at c.6-7% in 2Q21/22 and end FY21/22 with a GDP growth rate of 5.5% to 5.7%Suez Canal recorded the largest monthly revenues and net tonnage in November, of USD571.3 million and 113.5 million tons, respectivelyEgypt and Russia are in talks to establish a joint company to supply grains to Egypt and improve its food securityFinancially distressed SMEs will be given more time — and more avenues — to settle their debts under a new initiative from the CBE to support SMEs in weathering the pandemic repercussionsEgyptian Tax Authority will start today phase 5 of the e-receipt implementation by including 3,737 companies into the platform (EFIH)Steel manufacturers interested in the new steel licenses from Industrial Development Authority (IDA) want the authority to slash the license prices, requested a more flexible time frame, asked for a contractual freeze on gas and electricity prices, and break on the cost of landMNHD AGM approved the IFA report valuing MINKA and EgyCan at a total shareholder equity value of EGP232.0 million; the EGP374.4 million capital increase through a rights issue and setting up an ESOPOCDI will have a new board of directors next month, and Aldar has no plans to delist OCDI from the EGX nor change OCDI’s brandingSamih Sawiris is stepping down from his role as Orascom Development Holding chairman and handing the torch to his son, Naguib SawirisDanone is looking to invest EGP1 bn over the next fives years
What this episode covers
Egypt’s economy is expected to grow at c.6-7% in 2Q21/22 and end FY21/22 with a GDP growth rate of 5.5% to 5.7% Suez Canal recorded the largest monthly revenues and net tonnage in November, of USD571.3 million and 113.5 million tons, respectively Egypt and Russia are in talks to establish a joint company to supply grains to Egypt and improve its food security Financially distressed SMEs will be given more time — and more avenues — to settle their debts under a new initiative from the CBE to s...
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Pre-Trading Thoughts
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