{"id":669643,"date":"2025-08-06T00:00:00","date_gmt":"2025-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/06\/egx30-closes-at-a-fresh-high\/"},"modified":"2025-08-06T00:00:00","modified_gmt":"2025-08-06T00:00:00","slug":"egx30-closes-at-a-fresh-high","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/06\/egx30-closes-at-a-fresh-high\/","title":{"rendered":"EGX30 closes at a fresh high"},"content":{"rendered":"

Good morning, all, and<\/strong> happy almost-Thursday to you all. <\/strong>National Printing Company\u2019s trading debut is leading the news well for the second morning running after its shares jumped over 9% during its first day of trading. <\/p>\n

Yesterday\u2019s rush of automotive news hasn\u2019t slowed down yet<\/strong>, as we report on the Madbouly government\u2019s plans to restrict imports of Chinese-made electric vehicles so that only officially licensed agents are able to get their hands on them. <\/p>\n

AND ON THE MACRO FRONT- <\/strong>The non-oil private sector stayed in contraction in July, albeit at a slower pace than the previous month, as S&P Global\u2019s latest PMI reports has shown. We also got news of the government looking into issuing fractional bonds to individuals in efforts to stimulate the local debt market. <\/p>\n

^^ We have all that and more for you below in a packed issue.<\/p>\n

BUT FIRST- The third issue of our Destination Sahel series is out today<\/strong>, which takes a look at how Sahel could become a year-round destination, the architecture underpinning new developments, and the impact of coastal cities on our shores. Destination Sahel, Issue III, will be landing in your inbox in just a few hours.<\/p>\n

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Missed the first two issues? <\/strong>Tap or click here<\/a> to read the full series. <\/p>\n

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EGX WATCH-<\/p>\n

<\/a> EGX30 hits fresh high:<\/strong> The benchmark EGX30 surged 1.58% yesterday to close at a new all-time high of 35,254 points \u2014 hitting the 35k mark for the first time. The index has been on a strong upward trend in recent weeks<\/a>, buoyed by sustained local appetite for equities and signs of growing investor confidence in the broader economy.<\/p>\n

Helping sustain the momentum was the trading debut of National Printing Company<\/strong>, which jumped 9.4% in its first session. The debut \u2014 the second IPO of the year \u2014 signaled continued investor interest in new listings and lifted sentiment across the board. We have more on the firm\u2019s trading debut in the news well, below.<\/strong><\/p>\n

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HAPPENING TOMORROW-<\/p>\n

<\/a> The Finance Ministry will <\/strong>begin disbursing<\/a><\/strong> overdue export subsidies totaling EGP 5 bn to <\/strong>some 2k exporters tomorrow <\/strong>under the <\/a>revamped export subsidy program<\/a> that will see exporters receive 50% of their overdue dues in cash over four years, with the rest offset against liabilities. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another warm day in Cairo, with a high of 35\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s cooler in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 24\u00b0C.<\/p>\n

** DID YOU KNOW that we cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

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CIRCLE YOUR CALENDAR- <\/p>\n

The deadline to apply for <\/strong>Visa\u2019<\/strong>s Africa Fintech <\/strong>Accelerator is <\/strong>15 August<\/strong>, the digital payments player said in a s<\/a>tatement (pdf<\/a>)<\/a>. The 12-week program will help startups on the continent \u201cfast-track their growth and impact\u201d and is open to Africa-based fintechs with a minimum viable product or a ready market solution.<\/p>\n

Two local startups made it onto the list of 22 fintechs just welcomed to the accelerator's <\/strong>fourth cohort<\/strong>, with SME financing outfit Flend<\/a> and asset-backed financing startup Mnzl<\/a> representing Egypt.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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SIGN OF THE TIMES-<\/p>\n

<\/a> The African Arab International Securities company is looking into <\/strong>launching <\/strong>an AI-powered digital brokerage<\/strong> to expand its client base and reduce operational risks associated with a growing number of clients, Al Mal<\/a> reports, citing Managing Director Yasser El Masry. <\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

It\u2019s a busy day in the international press this morning<\/strong>, from big plays in the sports streaming world, to AI developments, to the usual flavor of disruption from Trump\u2019s executive orders.<\/p>\n

A big play in sports: <\/strong>Disney\u2019s ESPN will acquire NFL Network and other media assets<\/a> from the National Football League, in exchange for the NFL taking a 10% equity stake in the sports network. Disney did not disclose the values of the sale, analysts estimate<\/a> it lands in the ballpark of a USD 2-3 bn.<\/p>\n

ALSO- AMD\u2019s data center performance causes investor concerns: <\/strong>The US chipmaking giant\u2019s share price fell some 6% after hours, after reporting lower-than-expected quarterly earnings<\/a>. Muted data center revenue growth in 2Q \u2014 just 14% y-o-y to USD 3.2 bn \u2014 was a far cry from top dog Nvidia\u2019s 73% growth<\/a> in data center business over the first quarter.<\/p>\n

The earnings season continues<\/strong>: Expect giants including McDonald\u2019s<\/strong>, Disney<\/strong>, and Uber<\/strong> to report their quarterly earnings later today.<\/p>\n

OVER IN TECH- OpenAI lives up to its name:<\/strong> ChatGPT\u2019s maker decided to enter the open-source competition with DeepSeek and Meta head-on, releasing its first two \u201copen-weight\u201d models<\/a> gpt-oss 120b and gpt-oss 20b. The new models are claimed to perform close to GPT\u2019s smaller closed models.<\/p>\n

AND- Trump cracks down on \u201cde-banking\u201d: <\/strong>US President Trump is about to issue an executive order<\/a> that would crack down on \u201cpoliticized or unlawful banking\u201d, punishing US lenders who cut off accounts for political or religious reasons. The order \u2014 accompanied with claims of discrimination against conservatives \u2014 would extend to clients of \u201crisky industries,\u201d<\/a> which translates into crypto users and traders.<\/p>\n

Also worth reading this morning:<\/strong><\/p>\n