Top News & Analysis
MACRO NEWS
Prime Minister has met a number of global investors to promote investment opportunities in the Egyptian economy. (Cabinet)
The Trade Ministry has extended by three months its March 2022 ban on exports of wheat, flour, corn, lentils, pasta, fava beans, and vegetable oils. (Enterprise)
Households could see their electricity bills rise by as much as 21% starting July 2022. (Official Release)
CORPORATE NEWS
Integrated Diagnostics Holdings [IDHC] announced its Q1 2022 consolidated results, reporting a decrease in net profits reaching EGP314mn (-8.0% y/y) on the back of lower EBIT, reaching EGP396mn (-26.3% y/y). However, revenues showed an increase coming in at EGP1.2bn (+4.5% y/y). (Company disclosure: 1, 2)
The opening price of the rights issues for Dice Sport & Casual Wear [DSCW] was set at EGP0.077, scheduled to start trading next Monday 13 June 2022. (EGX, company disclosure)
PayTabs, the e-payments division of EFG Hermes Holding [HRHO], has announced the debut of PayTabs SwitchOn, its unified payment platform. (Enterprise)
Ezz Steel [ESRS] has been chosen by the World Steel Association (Worldsteel) as top producer in Africa and the Arab World, with 5.14mn tons in crude output in 2021. (Company release)
Elsewedy Electric [SWDY] succeed in a tender through a one of its subsidiaries to supply ready mix concrete for building a pier in Abu Qir port in Alexandria. (Al-Mal)