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Earnings watch: Porto Group
EARNINGS WATCH- Porto Group’s 1H2019 profits jumped 50% y-o-y to EGP 80.1 mn, compared to EGP 53.1 mn a year…
Egypt’s Customs Authority proposes legislative amendments to regulate customs clearance agents
LEGISLATION WATCH- Customs Authority considers new Customs Act amendments: The Customs Authority has proposed expanding draft Customs Act amendments that…
Prime and Pharos fail to reach acquisition agreement
M&A WATCH- No agreement on Prime-Pharos acquisition: Prime Holding’s bid to acquire Pharos’ securities brokerage and investment banking arms has…
Zohr natural gas field production rises to 2.7 bcf/d
Zohr production is four months ahead of schedule: Production from the Zohr natural gas field has reached the 2.7 bcf/d…
Global slowdown could hit economic growth -sources
EXCLUSIVE- Global slowdown could hit economic growth -sources: The Finance Ministry could revise down its growth projections to 6% from…
CBE likely to cut rates today -economists
There’s a growing consensus for a rate cut today: The Central Bank of Egypt (CBE) will cut its benchmark overnight…
Export Development Authority to get new boss
MOVES- Abdel Aziz Sherif met with Trade Minister Amr Nassar to discuss becoming the new head of the Export Development…
Earnings watch: Orascom Development Egypt, Arabian cement
EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits…
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