Today’s Top News & Analysis
Al Kraida Dates to invest in Egypt in 2024
EIB addresses its partners through a hub in Cairo
Egypt resumes LNG exports
Valu partners up with Kazyon
PIF exits PHAR
MACRO
Al Kraida Dates to invest in Egypt in 2024
Sources said that the Saudi-based Al Kraida Dates is interested in investing in Egypt through 2024 building a 10,000 sqm date factory. The factory should be dedicated to local production through its first year of operations. (Enterprise)
EIB addresses its partners through a hub in Cairo
The European Investment Bank (EIB) launched a new regional hub in Cairo to ease and enhance cooperation with its private and public partners in the MENA region. (Bank disclosure)
Egypt resumes LNG exports
Egypt is preparing to resume exports of liquefied natural gas (LNG) concurrently with an increase in the flow of Israeli gas imports to levels exceeding those before the Israeli war on Gaza. The current quantities of gas from Israel amount to about 850mn CBT/day, and will increase further in the coming days after the activation of the East Mediterranean offshore gas pipeline between Egypt and Israel. (Asharq business)
CORPORATE
Valu partners up with Kazyon
Valu the consumer finance arm of EFG Holding [HRHO] signed a strategic agreement with the supermarket chain Kazyon offering financing solutions and BNPL services. (Company disclosure)
PIF exits PHAR
Sources said that the Saudi Public Investment Fund (PIF) sold its 4.6% stake in EIPICO [PHAR] before the end of Q2 2023. Sources added that the exit took place at the time of PHAR's capital increase. (Al-Mal)
MARKETS PERFORMANCE
Key Dates
23-Nov-23
EGAL: Cash dividend / Payment date for a dividend of EGP6.5/share.
CSAG: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
CSAG: EGM / Approving increasing the issued capital & amending Article No. 3 of the company's bylaws.
TALM: OGM / Approving financial statements ending 31 August 2023 and the proposed dividends.
EFID: Conference Call / Discussing Q3 2023 financial results.
26-Nov-23
EFID: EGM / Discussing capital reduction & amending Articles No. 3, 6 & 7 of the company's bylaws.
27-Nov-23
ETEL: EGM / Amending Article No. 5 of the company's bylaws.
EFID: Cash dividend / Deadline for eligibility for a dividend of EGP0.428/Share.
DOMT: Cash dividend / Deadline for eligibility for a dividend of EGP0.20/Share.
30-Nov-23
DOMT: Cash dividend / Payment date for a dividend of EGP0.20/share.
EFID: Cash dividend / Payment date for a dividend of EGP0.428/share.
ZMID: Cash dividend / Payment date for a dividend of EGP0.10/share (2nd installment).