Top News & Analysis
MACRO NEWS
The government will reportedly freeze electricity prices to ease financial pressure on the public, which is already coping with high inflation. (Enterprise)
The government launched the start of consultations with experts over its privatization plans. (Enterprise)
El-Nasr Automotive Co. signed MoU with the Chinese BAIC Group to manufacture electric vehicles locally, and plans to sign the final contracts by the end of next July. (Enterprise)
CORPORATE NEWS
South Valley Cement [SVCE] announced its Q1 2022 results where the company continued to endure losses reaching EGP31.2mn compared to a net loss of EGP35.7mn a year earlier.
Elsewedy for Technological Education, a subsidiary of Elsewedy Electric [SWDY], has signed a contract with Amity University to build Elsewedy university for technology with the first branch to be in the 10th of Ramadan City
Abu Dhabi Islamic Bank – Egypt [ADIB] announced that the IFA study concluded a pre-money fair value of EGP38.29/share and a post-money fair value of EGP22.44/share.
North Cairo Flour Mills [MILS] BoD decided to dispose the company’s land and buildings.