Top News & Analysis
MACRO NEWS
Passenger car sales fell for the third consecutive month in May against the backdrop of continued economic headwinds and import restrictions. Passenger vehicle sales dropped by more than 22% y/y last month to 11,800 vehicles, according to figures provided by the Automotive Information Council (AMIC). (Enterprise)
CORPORATE NEWS
B Healthcare Investments, the healthcare arm of B Investments [BINV], acquired a 51% stake in the Egyptian IVF Center in a deal worth EGP126mn. (Enterprise)
Elsewedy Electric [SWDY] will get a USD150mn loan from the International Finance Corporation (IFC) to acquire renewable energy plants outside Egypt. (Company disclosure)
Heliopolis Housing & Development [HELI] approved the final draft contract for the development of the Heliopark project with Mountain View. (Mubasher)
e-finance [EFIH] signed a contract with the Ministry of Petroleum to develop infrastructure for the digitization of gas stations across the country. (Company disclosure)