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Earnings watch: Arabian Cement
** Earnings watch: Arabian Cement Company reports a consolidated net profit of EGP 245 mn in 2016, down 11.6% from…
Speed Round
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Egypt’s industrial production retreated 2.3% y-o-y in 2Q2016 -CAPMAS
Egypt’s non-oil output retreated 2.3% year-on-year in 2Q2016 to EGP 91.8 bn, according to CAPMAS figures released yesterday. Food production,…
Egypt set to become the world’s fastest growing mortgages market in 2017
Egypt is poised to become the world’s fastest-growing mortgage market in 2017, ahead of Algeria and Nigeria, according to Daily…
World Bank disburses second tranche of USD 3 bn development loan
The World Bank disbursed the second USD 1 bn tranche of its USD 3 bn development loan to Egypt yesterday,…
Gov’t timeline to cut down on subsidies ends in 2019
Gov’t timeline to cut down on subsidies ends in 2019: The government does not plan to fully eliminate fuel subsidies,…
MM Group files ITF, to sell 30% stake in company
MM Group filed its public subscription notice for a local offering yesterday, announcing it will offer 118.8 mn shares, representing…
Egypt should achieve 4% GDP growth this year -Azzam
“I think Egypt … should be able to attain the target of 4% [GDP] growth this year. I am pleased…
FDI to hit highest level ever next fiscal year –El Garhy
Foreign direct investment in Egypt will hit USD 13-15 bn in FY 2017-18, Minister Amr El Garhy told Reuters. Anything…
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