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Auto sales rebound in February
Distributors sold some 7.4k units last month, up almost 20% m-o-m
Saudi Arabia’s PIF solidifies position in US EV maker Lucid with additional USD 1 bn stake
A share of the proceeds will finance Lucid’s capex and working capital
Auto sales fall to ten-month low in January. PLUS: El Nasr to team up with Chinese company to assemble buses
Buses, trucks, and passenger cars all saw a decline in sales in comparison to December
CBE issues tighter regulations for financial leasing firms. PLUS: Hassan Allam + Sumou Holding JV, Magic Land Al Hokair, EGP 1.1 bn entertainment project, China hands over satellite center, EGP 1 bn auto assembly plant
The total credit facilities and investments made in the securitization portfolios of leasing companies should not exceed 5% of the…
E-Finance, GB Corp report 2023 results
Subsidiary e-Finance Digital Operations contributed the lion’s share of the group’s revenues for the year, making up 90% of the…
Shift EV eyes larger 50k annual capacity factory. PLUS: GB Auto Jordan expansion, El Gouna solar power, oil and gas news, debt news, regulations news, NBE earnings
The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC
Arab International Company for Hotels and Tourism eyes asset sales to pay off debts. PLUS: Egyptian-Chinese cars by 2025, Egypt commits to Eni payments, MSC eye logistics investments, Real Estate Tax Authority + E-Tax, Banque Misr SME platform
Unconfirmed media reports in 2023 said that the company had received a USD 320 mn offer from a Qatari group…
My Morning Routine: Osman Abdelmoneim, managing director of Auto Mobility
Abdelmoneim’s day ranges from balancing meetings, testing cars and baking bread
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