Today’s Top News & Analysis
The government raised fuel prices by 8-21%
Egypt to recalculate fuel subsidies in FY25's budget
EBRD helps Egypt to secure a USD1bn from the IMF
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The government raised fuel prices by 8-21%
The Egyptian government raised prices of fuel across all segments on Thursday between 8-21% as follows:
· 95-Octane raised by 8% to EGP13.5/liter.
· 92-Octane raised by 8.7% to EGP12.5/liter.
· 80-Octane raised by 10% to EGP11/liter.
· Diesel was raised the most by 21.2% to EGP10/liter.
· Compressed natural gas raised by 18% to EGP6.5/cubic meter. (Enterprise)
Egypt to recalculate fuel subsidies in FY25's budget
The Minister of Finance said that the Egyptian government will recalculate the fuel subsidies for FY25 after the recent rise in fuel prices. The Ministry posted primary figures for the fuel subsidies to be EGP147bn vs. EGP130bn in FY24. (Asharq Business)
EBRD helps Egypt to secure a USD1bn from the IMF
The European Bank for Reconstruction and Development (EBRD) will help Egypt in securing a USD1bn from the International Monetary Fund (IMF) in support of the strategic partnership signed last week. The USD1bn loan is targeted for the facilitation of Egypt's energy transition. EBRD will be a mediator between the government and the private sector as the bank has almost 80% of its activity with the private sector. (Enterprise)
Markets Performance
Key Dates
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.