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Posted inGO WITH THE FLOW

The market on 24 November, 2022

The EGX30 rose 1.4% at today’s close on turnover of EGP 1.95 bn (37.5% above the 90-day average). International investors were net sellers. The index is up 7.0% YTD. In the green: GB Auto (+6.9%), Alexandria Containers and Cargo Handling (+3.9%) and Elsewedy Electric (+3.9%). In the red: QNB Alahli (-1.8%), Orascom Construction (-1.4%) and […]

Posted inCALENDAR

NOVEMBER 20 November-18 December (Sunday-Sunday): 2022 Fifa World Cup, Qatar. 22 November- 23 November (Tuesday-Wednesday): The Fingerprint Summit will be held at the Nile Ritz Carlton Hotel. 27 November (Sunday): Senate in session. 27-28 November (Sunday-Monday): The first edition of the Egypt Media Forum. 27-30 November (Sunday-Wednesday): Cairo ICT and Pafix, Egypt International Exhibition Center, […]

Posted inUncategorized

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Posted inM&A WATCH

Is the Qatari sovereign fund closing in on a 20% stake in Vodafone Egypt?

Are talks between TE and Qatar’s sovereign fund over Vodafone Egypt hotting up? The Qatar Investment Authority’s (QIA) talks with Telecom Egypt over the potential purchase of a 20% stake in Vodafone Egypt have “accelerated” and could close “very soon,” Bloomberg Asharq reports, citing two sources it says are in the know. The Qataris are […]

Posted inPolicy

The CBE’s exit from the subsidized loan programs isn’t going down well with some industry figures

A decision by the government to end the central bank’s role in subsidizing loans has not been received well by some sections of the business community, with the Egyptian Businessmen’s Association (EBA) and some MPs calling on ministers to rethink their plans. Refresher: A decree issued by Prime Minister Moustafa Madbouly earlier this week will […]

Posted inEconomy

EGP most vulnerable EM currency, says Nomura

The EGP might not be out of the woods yet: Japanese bank Nomura thinks that Egypt is the most vulnerable emerging-market country to a currency crisis over the next 12 months, according to a report. Egypt is ranked highest of the 32 EM nations included on the bank’s Damocles Index, indicating a strong chance that […]

Posted inCabinet watch

Cabinet approves plans for IP Authority

Ministers approved a draft bill that would establish the Egyptian Intellectual Property Authority, a public body to regulate and protect intellectual property rights in the country, cabinet said in a statement following its weekly meeting yesterday. The authority is key to the government’s new five-year intellectual property strategy which was announced in September as part […]

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