Today’s Top News & Analysis
CBE Governor and Prime Minister discuss the state of imports
The House of Representatives to discuss the new draft Labor Law
Egypt Aluminum appoints an IFA
Shareholders of CSAG approve cash dividends and the appointment of a new chairman
GSSC mulls establishing a new company
MACRO
CBE Governor and Prime Minister discuss the state of imports
The CBE Governor and Prime Minister were discussing the coordinated efforts to provide FX liquidity in order to secure strategic imports and factors of production. (Cabinet)
The House of Representatives to discuss the new draft Labor Law
The House of Representatives Manpower Committee will discuss the new draft Labor Law today and tomorrow. Among the important points of discussion are maternity leave, notice periods, working hours cap, and changes in minimum raise increments. (Enterprise)
CORPORATE
Egypt Aluminum appoints an IFA
Egypt Aluminum [EGAL] appointed Premiere as an IFA to prepare a fair value study ahead of potential acquisition through a capital increase by Public Investments Fund (PIF). (Al-Borsa)
Shareholders of CSAG approve cash dividends and the appointment of a new chairman
Canal Shipping Agencies’ [CSAG] shareholders approved a cash dividend of EGP0.79/share, which implies a dividend yield of 3.8%. Meanwhile, CSAG shareholders approved the appointment of Dr. Ahmed Abdel-Hafez Abdel-Wahab as the company’s new chairman. (Company disclosure)
GSSC mulls establishing a new company
General Company for Silos & Storage [GSSC] mulls establishing a new company that specializes in establishing and managing silos and storage warehouses. (Arab Finance)
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