Today’s Top News & Analysis
World Bank to give Egypt USD6bn package
S&P upgrades Egypt's outlook to positive
Ras El Hekma will has a free zone
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World Bank to give Egypt USD6bn package
The World Bank to give Egypt a USD6bn package over three years, expected to be approved by the end of June 2024. We note that the Minister of Finance recently said that we expect a USD3bn package, however, this changed to USD3bn for government support and USD3bn for the private sector. (Enterprise)
S&P upgrades Egypt's outlook to positive
S&P Global Ratings upgraded Egypt's outlook from stable to positive due to the increase in foreign direct investments and the recent measures made by the Central Bank of Egypt (CBE). The agency affirmed the foreign and local currency sovereign credit at a B- rating for Egypt's long-term and a B rating for the short-term. (Enterprise)
Ras El Hekma will has a free zone
Sources said that the joint project between Egypt and ADQ, Ras El Hekma, will include a free zone that eases investments through customs advantages and tax concessions for investors. (Asharq Business)
Markets Performance
Key Dates
20-Mar-24
EGCH: OGM / Approving the estimated budget of FY 2024/2025.
EGCH: EGM / Approving increasing the issued capital & amending Articles No. 6 & 4 of the company's bylaws.
21-Mar-24
ADIB: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
ADIB: EGM / Approving increasing the issued capital & amending Articles No. 6 & 7 of the bank's bylaws.
23-Mar-24
TMGH: OGM / Approving financial statements ending 31 Dec. 2023.
MICH: BoD meeting / Follow up on production, sales and exports.
25-Mar-24
SAUD: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
CERA: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
PHDC: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
FAIT: Cash dividend / Deadline for eligibility for a dividend of EGP1.853/Share.
COMI: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
COMI: EGM / Discussing agenda items.
27-Mar-24
EXPA: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
GBCO: EGM / Amending Articles No. 5 of the company's bylaws.
28-Mar-24
FAIT: Cash dividend / Payment date for a dividend of EGP1.853/share.
CIEB: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
MCQE: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
HDBK: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
EMFD: OGM / Approving financial statements ending 31 Dec. 2023.
ISPH: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
EFID: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
30-Mar-24
PHAR: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
31-Mar-24
ARCC: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
LCSW: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
EFIH: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
RACC: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.
RACC: EGM / Amending Articles No. 6 & 7 of the company's bylaws.
EKHO: OGM / Approving financial statements ending 31 Dec. 2023 and the proposed dividends.