A report by Beltone Financial Investment Banking stated that the profits of the company were higher than the original expectations of EGP 536m. The 10% higher prices in the fourth quarter of 2015 contributed to making up for the falling sales volume.
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Compared to July 2015, before the inauguration of the New Suez Canal, the average daily number of transiting vessels totalled 47 vessels, with an average load of 2.758m tonnes per day.
Mohamed Al-Assar, head of the technical analysis department at the National Bank of Kuwait (NBK), said the Egyptian Exchange’s benchmark index EGX-30 will range Sunday between 7,500 points and 7,600 points in light of weak trading volumes below EGP 500m
EFSA stipulates its supervision as opening the door for an IPO to investors
Sources asserted that Sawiris continues to defend claims over committing violations by transferring OTMT’s assets to OTMT Acquisition instead of Weather Investments
The regulations will be discussed with the community in the coming days, says EFSA chairperson
Hegazy’s office played the role of legal adviser in the process of establishing the fund with a capital of $25m.
The company plans to complete the report within one month. It will include the number of shares to be offered and the fair value per share, which has been set by an independent financial adviser
The company relocated its Iraqi team to Cairo to reduce fixed expenses until conditions in the Iraqi market improve
There are doubts about the banks’ abilities to continue this exceptional performance during the second and third quarters due to lack of foreign currency, poor commercial financing, and decline in lending loan rates
Investment demands worth $5.3bn on the Supply Ministry’s commercial chains project
Compared to July 2015, before the inauguration of the New Suez Canal, the average daily number of transiting vessels totalled 47 vessels, with an average load of 2.758m tonnes per day
The new shipyard will not be limited to ship repair and shipbuilding—like the current one which only services Suez Canal marine equipment—but will rather serve investment as well, Mamish added during a meeting with MPs from the three canal cities: Suez, Port Said, and Ismailia
One to the financial institutions and individual investors, and investors with expertise in the field of securities. The other public offering will be to the public in the Egyptian market, as a joint offering.
EFSA is only concerned about the violations that require reconciliation or resorting to courts, says Samy
Head of the EFSA Sherif Samy said that the authority is reviewing the documentation provided by OTMT on the transfer of ownership of a controlling stake to another shareholder, which obligates Sawiris to make a compulsory tender offer to buy the rest of the shares.
Investments in fields of housing and real estate, construction, food, acquisitions over non-EGX listed companies
The company received purchase orders covering 97.65% of the IPO as of Thursday’s session
Standard & Poor’s revised on Friday its future outlook of the Egyptian economy from stable to negative, but kept its credit rating unchanged at B-
An average of 47.3 ships transited the canal per day during that period, bearing an average load of 2.74m tonnes per day. The average load per ship was approximately 58,000 tonnes.
New disaster recovery building to be built in Fifth Settlement as part of plan, Omran says
Orascom has not yet reached the reconciliation phase
Global Telecom recorded net profits of $87.5m during Q1 of 2016, compared to net losses of $54.7m during the same period of 2015. This occurred despite a decline in income to $707.1m compared to $718.8m during the same period last year
Palm Hills plans to apply for new plots of land in West Cairo on areas ranging from 150 to 200 acres, says Yasseen Mansour
The EFSA’s decision to retroactively change the legal status governing the general holding companies’ reacquisition of shares from workers unions came last week. The EFSA made an exception to the Capital Market Law which stipulates a compulsory tender must be made for all the shares of a company once 33% of ownership has been transferred.
Beltone’s research added that the firm has succeeded in building banking relationships which help it to obtain its foreign currency exchange requirements to import cars collected abroad or automotive components
The four markets include the Gulf with Dubai at the forefront, London, the US, and South Africa
The EGX issued this new rule to allow companies to avoid the poor trading on the dollar due to the erosion of foreign currency reserves
The agreement will contribute to listing Bahraini companies in the EGX and Egyptian companies in the Bahrain Bourse, said Ibrahim Bin Khalifa
The settlement of the conflict alleviates the legal disputes facing the company, according to an official in the Egyptian Resorts Company