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Earnings watch: Egypt Aluminum plunges into the red in FY2019-20, QNB AlAhli reports 20% drop in 3Q2020 net profits
EARNINGS WATCH- Egypt Aluminum recorded EGP 1.67 bn of losses in FY2019-20, a year after turning a EGP 571 mn…
Egyptian delivery app Dreevo secures six-figure USD pre-seed investment
STARTUP WATCH- Egyptian delivery startup Dreevo has secured a six-figure USD pre-seed investment from EF Logistics, allowing it to launch…
Annual core inflation rose to 3.3% in September from 0.8% in August
Annual core inflation rose to 3.3% in September from 0.8% in August, while monthly core inflation rose to 0.1% from…
Insurance companies face new capital requirements to protect against EAS risk
REGULATION WATCH- Insurance companies will now be required to hold 1% of assets in reserve after the Financial Regulatory Authority…
Speed Medical, Prime Speed to invest EGP 150 mn in new lab outfit:
Speed Medical, Prime Speed to invest EGP 150 mn opening new branches through labs joint venture: Lab and diagnostic testing…
Six investors vie for ownership of Egypt’s Makkasa Sport
M&A WATCH- Six buyers are reportedly bidding for a stake in Makkasa Sport, the owner of Misr Lel Makkasa Sporting…
El Saidy Tobacco acquires Americana Egypt’s International Tobacco
M&A WATCH- El Saidy Tobacco has acquired Americana Egypt subsidiary International Tobacco, Prime Holding — which managed the transaction and…
Egypt’s Beltone SME to launch EGP 1 bn investment fund in 2021
Beltone SME will launch a EGP 1 bn investment fund by the end of 2021, Beltone Financial Holding CEO Ibrahim…
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