Today’s Top News & Analysis
IMF third review still on time
The government studies raising subsidized fertilizer prices
MACRO
IMF third review still on time
Sources said the International Monetary Fund (IMF) briefly postponed its third review for Egypt's loan before it backed down and decided to keep the review on 29 July as scheduled. The third review should open the door for a USD820mn tranche of the total loan of USD8bn. (Enterprise)
The government studies raising subsidized fertilizer prices
Sources said the Egyptian government is currently studying the rise of subsidized fertilizer prices by 30% from EGP4,800/ton to c.EGP6,250/ton to cover the increasing costs of production. (Asharq Business)
MARKETS PERFORMANCE
Key Dates
22-Jul-24
BIOC: Cash dividend / Payment date for a dividend of EGP0.75/Share.
24-Jul-24
IFAP: EGM / Amending Articles No. 3, 4 & 6 of the company's bylaws.
EAST: OGM / Approving the sale of a plot of land and netting contracts.
EAST: EGM / Amending Article No. 7 of the company's bylaws.
28-Jul-24
EGBE: Stock dividend / Last date for eligibility for a 0.021-for-1 stock dividend.
29-Jul-24
EGBE: Stock dividend / Date for distributing a 0.021 for-1 stock dividend.
31-Jul-24
TMGH: Cash dividend / Payment date for a dividend of EGP0.11/Share (2nd installment)
ACAMD: EGM / Amending Article No. 21 of the company's bylaws.
MTIE: Stock dividend / Last date for eligibility for a 0.25-for-1 stock dividend.
1-Aug-24
MTIE: Stock dividend / Date for distributing a 0.25 for-1 stock dividend.
5-Aug-24
Egypt PMI / July 2024 reading.