Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
M&A WATCH-
Saudi investor Naif Al Rajhi (Linkedin) acquired a 12.1% stake in Raya Holding in a EGP 1.5 bn transaction, purchasing 516.7 mn shares at an average price of EGP 2.89 apiece, according to an EGX disclosure (pdf). The shares were fully divested by Financial Holding Limited, which exited its entire stake in the company.
(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)
INFRASTRUCTURE-
Egypt is in talks with a Chinese consortium to build the USD 440 mn fourth phase of the new capital’s light rail transit line, Asharq Business reports, citing unnamed sources. The Chinese state-owned companies — AVIC International and China Railway Major Bridge Engineering — will handle electromechanical works and train manufacturing, while local firms will take on civil works.
FINANCIAL SERVICES-
#1- The Financial Regulatory Authority (FRA) raised the cap on the cash advance that can be granted in consumer finance x5 to EGP 50k per client, as part of efforts to support financial inclusion, according to a statement from the authority. Repayment of previous loans and proof of proper use are prerequisites for approval.
#2- The FRA issued licenses for five companies to engage in new non-banking financial services, according to a statement from the authority. This includes licenses to establish two new investment funds by Bokra Holding — the Bokra Real Estate Investment Fund and the Bokra Metals Investment Fund — as well as a license for Telda Securities Brokerage to receive investment fund subscriptions. Trend Holding is also now authorized to establish companies that issue securities or increase their capital, while True Finance Lease and Factoring can now offer factoring services.
DIPLOMACY-
Regional developments top Abdelatty’s talks with leaders: Foreign Minister Badr Abdelatty held calls with US Special Envoy the Middle East Steve Witkoff, Iranian Foreign Minister Abbas Araghchi, and International Atomic Energy Agency head Rafael Grossi. Discussions focused on containing regional escalations, namely between Iran and Israel.
