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EGX ends Wednesday in red; market cap hits 2 month-low
28 - Thu - Nov - 2019
EGX ends Wednesday in red; market cap hits 2 month-low
The Egyptian Exchange (EGX) closed Wednesday’s trading session in red territory, while market capitalization hit its lowest level in two months in tandem with the release of the IPO prospectus of Rameda.Market capitalization shrank by EGP 1.2 billion to EGP 699.7 billion on Wednesday.The main EGX30 index…
Ghana’s C.Bank weighs issuing digital currency
28 - Thu - Nov - 2019
Ghana’s C.Bank weighs issuing digital currency
Ghana could soon issue a digital currency to boost the expansion of electronic payment systems, including mobile money.The Bank of Bank is also in discussion with key stakeholders to explore a pilot project, and could issue in “the near future” central bank electronic currency, “e-cedi,”…
Emaar Misr eyes EGP 49bn investments in Sheikh Zayed
28 - Thu - Nov - 2019
Emaar Misr eyes EGP 49bn investments in Sheikh Zayed
 Emaar Misr for Development has signed two agreements with the Egyptian New Urban Communities Authority (NUCA) to establish two urban projects at a combined area of 621 feddans with total investments of EGP 49.3 billion in Sheikh Zayed Extension, according to a statement released by the Egyptian…
Upper Egypt Flour Mills’ profit drops 18% in Q1-19/20
28 - Thu - Nov - 2019
Upper Egypt Flour Mills’ profit drops 18% in Q1-19/20
The consolidated financial statements of Upper Egypt Flour Mills reported an 18% year-on-year profit decline during the first quarter of fiscal year 2019/2020.Net profits retreated to EGP 31.428 million in the three-month period ended 30 September, compared to EGP 38.29 million in the year-ago period, including minority…
Egypt’s housing ministry inks 2 deals with Emaar Misr
28 - Thu - Nov - 2019
Egypt’s housing ministry inks 2 deals with Emaar Misr
The Egyptian Ministry of Housing signed two agreements with Emaar Misr for Development, Akhbar El-Yom reported on Wednesday.The first one is a settlement agreement between the real estate developer and the Egyptian government, while the second includes the allocation of 500 feddans in Sheikh Zayed for the…