Rameda’s 3Q net income rises 38% to EGP 131 mn

Here are the stories driving the day, both at home and abroad. EGX-listed Rameda’s net income rose 38% y-o-y to EGP 131 mn in 3Q 2026, while its revenue edged up 1.3% to EGP 1.15 bn, according to the pharma company’s latest earnings release. Net margin widened 3.0 pp to 11.4%, helped by 12% lower finance costs, a lower effective tax rate, and a EGP 6.7 mn FX gain, which together more than absorbed a EGP 16 mn share-based payment expense, compared to nil in 3Q 2025.

The drivers: Private sales grew 21% y-o-y to EGP 901 mn on a 16% rise in volumes to 11.8 mn units, with no price increases in 2026. Rameda says that reflects stronger underlying demand, not pricing.

985k tons — that’s how much wheat Egypt imported in October, nearly triple September’s total but 47% below a year earlier, according to an S&P Global report, citing LATT Trading and Shipping data. Russia regained its spot as Egypt’s top supplier, delivering 403k tons, or 41% of the month’s intake.

^^ We’ll have more on these stories next week in EnterpriseAM.

☀️ TOMORROW’S WEATHER- Expect slightly warmer weather conditions in the capital tomorrow, with the weekend kicking off at a high of 28°C before cooling down to a low of 17°C, according to our favorite weather app.

MAKING HEADLINES ABROAD-

Nvidia shares fell nearly 8% in premarket trading today amidst CEO and co-founder Jensen Huang’s ongoing scandal, extending a selloff that has erased around USD 600 bn in market value this week. The stock now trades at 12.2 times expected earnings, its lowest valuation multiple since 2012. Siemens CEO Roland Busch said the company would continue working with Nvidia regardless of the outcome, adding that existing projects could proceed independently of Huang’s position. The tech giant’s board is weighing whether to oust Huang. Huang’s potential departure would leave the USD 4 tn chipmaker without a clear successor.

On the Russia-Ukraine front, US envoys Jared Kushner and Steve Witkoff arrived in Moscow for talks with Russian President Vladimir Putin, following two days of US-brokered negotiations with Ukraine in Abu Dhabi that ended with plans for another major prisoner exchange but no breakthrough on a wider peace agreement. Discussions remain deadlocked over Russia’s demand for Ukraine to surrender the entire eastern Donbas region, which Kyiv has rejected, prompting US mediators to shift focus toward postwar security guarantees and reconstruction.

MEANWHILE- The Asian Infrastructure Investment Bank (AIIB) agreed to provide Turkey with a record USD 1.6 bn in financing to support climate policy reforms and attract investment in emissions cuts and climate resilience. Turkey estimates it needs an additional USD 68 bn in climate investment by 2030, around half of which is expected to come from private sources. Meanwhile, the UK appointed Madeleine Alessandri as its first special representative for climate security, with Prime Minister Andy Burnham warning that climate change poses an immediate national security threat.

CLOSER TO HOME- An Israeli airstrike hit the surgical wing of Nasser Hospital in Khan Younis, southern Gaza earlier today, killing at least six people, including a surgeon, and wounding at least 20 others, according to Palestinian health and civil defense officials. The Israeli military said it had targeted a senior Hamas commander and other militants allegedly operating inside the hospital complex, which it accused of being used as a command center and weapons store. The strike caused extensive damage to one of Gaza’s few remaining functioning hospitals, with debris scattered across wards and medical equipment.