Today’s Top News & Analysis
The IMF’s board has put Egypt on its schedule
Egypt's net foreign reserves inch higher to USD33.53bn
The House approves amendments to Competition Act
Aifa Egypt to receive a loan from EBRD
EGBE expects 15% annual earnings growth in 2023
Dice denies opening a new factory
A shareholder fully exits Speed Medical
MACRO
The IMF’s board has put Egypt on its schedule
The IMF’s executive board will discuss Egypt’s request for a new extended fund facility on 16 December 2022, according to its calendar. (Enterprise)
Egypt's net foreign reserves inch higher to USD33.53bn
Egypt’s net foreign reserves inched up to USD33.53bn in November 2022, up from USDUSD33.41bn in October. (CBE)
The House approves amendments to Competition Act
The House of Representatives has approved amendments to the 2005 Competition Act following two days of debate. The amendments grant the Egyptian Competition Authority (ECA) the power to block M&A deals that it thinks could harm market competition and promote monopolistic practices. (Enterprise)
Aifa Egypt to receive a loan from EBRD
Aifa Egypt, subsidiary of Savola Group, may receive a loan from EBRD worth USD20mn in order to ease the payments for edible oil imports. (Enterprise)
CORPORATE
EGBE expects 15% annual earnings growth in 2023
Egyptian Gulf Bank [EGBE] expects annual net earnings growth in 2023 of 15%. We note that EGBE budgeted earnings growth for 2022 was 20%. Meanwhile, annual earnings growth for EGBE 9M 2022 is 23% (Company disclosure)
Dice denies opening a new factory
Dice Sports and casual Wear [DSCW] denied the rumors related to them opening a new zipper factory. (Company disclosure)
A shareholder fully exits Speed Medical
A shareholder has sold off his 6.2% stake in Speed Medical [SMPD] for EGP28.9mn or EGP0.43/share. (Company disclosure)
MARKETS PERFORMANCE
KEY DATES
Latest Research
