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GB Auto gets FRA nod to expand consumer finance activities
GB Auto has landed final regulatory approval to launch new consumer finance activities for factoring arm Drive, according to a…
Earnings: state-owned El Nasr Civil Works, Egyptalum remain in the red
EARNINGS WATCH- State-owned Egyptian Aluminium Company (Egyptalum) saw its net losses narrow to EGP 348 mn in 9M2020-2021, compared to…
GB Auto net income doubles in 1Q amid higher demand
GB Auto’s net income more than doubled to EGP 299 mn in 1Q2021 compared to EGP 138 mn in the…
Aldar to begin DD on Sodic “within days” -Magued Sherif
The UAE’s Aldar Properties is expected to begin due diligence on EGX-listed Sodic “within days” as it seeks a majority…
Torrid growth continues in factoring, microfinance
GB Auto’s NBFS arm Drive had the largest share of Egypt’s factoring market in February after more than doubling lending…
GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel’s MNT Investments
GB Auto is selling down its indirect stake in Netherland-based subsidiary MNT Investments to unnamed foreign investors in a EGP…
Also on our Radar on 23 March 2021
A handful of things we’re keeping an eye on this morning: The UAE’s Time Hotels will open this year its…
The market on 15 March 2021
The EGX30 fell 0.6% at today’s close on turnover of EGP 1.1 bn (25.6% below the 90-day average). Regional investors…
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