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Earnings watch: Edita profit falls by 44% in 1Q2020; Cleopatra Hospitals on track for 50% profit gain
EARNINGS WATCH- Edita quarterly profit hit by covid-19: The covid-19 pandemic sapped Edita’s profitability during 1Q2020, with the snack food…
SPEED ROUND
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SPEED ROUND
National Bank of Egypt, Banque Misr sell EGP 121 bn of high-yield certificates
State banks sell EGP 121 bn of high-interest saving certificates: National Bank of Egypt (NBE) has sold EGP 82 bn…
Brimore raises USD 3.5 mn in pre-series A investment
STARTUP WATCH- Cairo-based social commerce platform Brimore has raised USD 3.5 mn in a pre-series A funding round led by…
Alexandria Cement fair value determined to be EGP 4.02 a share
An arm of Titan Cement Egypt will pay a significant premium to acquire the nearly 1.3% of Alexandria Portland Cement…
Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch & Glucose
M&A WATCH- Cairo 3A closes EGP 420 mn acquisition of Egyptian Starch & Glucose after successful MTO: Cairo 3A has…
Property portal EMPG merges with OLX
M&A WATCH- Emerging Markets Property Group (EMPG) has merged with classified ads business OLX Group in Egypt, the UAE, Lebanon…
El Sisi ratifies law to expedite payments to gov’t contractors, suppliers
LEGISLATION WATCH- Suppliers and construction outfits working on government contracts will receive EGP 10 bn in arrears after President Abdel…
Ascom Mining defers EGP 80 mn investment as covid scrambles supply chains
INVESTMENT WATCH- Qalaa’s Ascom to postpone EGP 80 mn investment in new production lines as covid-19 scrambles supply chains: Qalaa…
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