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Inflation recorded positive increase in September, lower than our expectations
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
We do not expect pressure on local currency after interest cut, exchange rate will average EGP 16-17 per US dollar, says Mamdouh
This conference aims to showcase the Egyptian economy’s latest developments, in light of the country’s economic reform programme, to inform investors in the UAE and international peers about investment opportunities in many sectors and companies listed in Egypt.
Arab African International Securities targets EGP 7bn in managed assets by year-end
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
The note added that the prices for higher consumption brackets, above 1,000 kW, remain unchanged at EGP 1.45/kW, as they already pay above the production cost of EGP 1.22/kW.
Beltone estimate that non-cheese revenue to grow by 61%, with Domty’s cheese sandwich revenues expected to double, due to the surprise price hike executed in the first quarter (Q1) of 2019 (factory price increased from EGP 2.5 to EGP 3.5).
Egypt continues to provide attractive investment opportunity supported by raised credit rating, pound appreciation
Bank maintains deposit portfolio of non-interest-bearing deposits, variable-rate deposits
Firm forecasts EGP 17.6 per USD in FY 2018/19, EGP 17.1 per USD in FY 2019/20
Decision confirms our vision to contain inflationary pressures in H1 of 2019
Decision will pave way for new reduction in interest rates in H1 2019
Reconciliation not mandatory for EFSA, does not cancel administrative decisions: Sources
Services sector will continue to outperform in FY 2018/19, rise in tourism revenues to $11.1bn
Beltone Financial announced on Monday that they have raised their estimate of the fair share value of Ibn Sina Pharma to EGP 16.50 per share, up from EGP 13.60 per share, while decreased their estimate for Telecom Egypt (TE) fair share value to EGP 16.5 per share, down from EGP 17.5. Yet, Beltone maintained the …
Ease in inflation levels brings average inflation reading to CBE’s target zone upper bond, 16%, in Q4 of 2018
Second phase of tenders’ programme expected to be announced before year-end: Tawfik
Move aims to increase tax revenues amid no new tax measures
“We maintain our view of a stable interest rates environment in till the end of 2018”: Mamdouh
FRA accuses firm of spreading misleading news about coverage of Sarwa Capital’s private offering
Group’s brokerage arm continues to conduct normal business operations
Company expects local currency will stabilise against dollar for rest of 2018, with possibility of slight fluctuation below EGP 18 per dollar
Stabilized returns on debt instruments at over 18% keep them attractive, says Beltone
Domestic engines of price inflation will stabilize in the Q4 2018, then likely to see easing of monetary policy: HC
Fuel subsidies to hit EGP 120bn, against government target of EGP 89bn as international oil prices rise
Company expects fuel prices to rise by 35-45% in July, CBE to keep interest rate unchanged
HDB, Credit Agricole Egypt, Faisal Islamic Bank results above expectations, ADIB’s lower than expected due to higher provisions