Pre-Trading Thoughts
Manage episode 331930437 series 2987212
The Federal Reserve hiked interest rates by 0.75%.
Local exchange rate weakened to 18.77/USD during yesterday's trading.
Electricity prices for residential consumers will remain unchanged until at least the end of 2022.
Trade deficit decreased by 39.7% YoY in March, recording USD2.26 billion.
Egypt and Israel will increase gas exports to the EU under an MoU that will run for three years.
Italian government is participating with the Egyptian Ministry of Supply in the construction of 6 field silos for grain, with investments of USD367 million.
Grievance Committee at the General Authority for Investment and Free Zones (GAFI) has accepted ORHD's petition and cancelled the TDA's decision to reduce Makadi Heights land plot area by 1.75 million sqm.
Real Estate Finance Advisory Committee of the Financial Regulatory Authority submit real estate mortgage financing recommendations to the Authority’s Board. These recommendations, if approved, would mitigate affordability concerns and boost real estate sales.
23 local cement producers have addressed the Egyptian Competition Authority (ECA) demanding an extension to the decision of cement production “Quota System” for another two years.
RMDA acquired anticonvulsant molecule “Lacovimp” which is used to treat partial onset seizures. It expected to generate around EGP24 million with GPM north of 70% and EBITDA of EGP8 million annually.
HRHO’s Tanmeyah has acquired B2B e-commerce market place Fatura in a stock and cash transaction. The acquisition will allow Tanmeyah access to Fatura’s growing network of merchants.
Aman Microfinance, a subsidiary of RAYA, launched its first investment fund Aman Youm-B-Youm.
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