August 16th, 2019 | 0 commentsEgyptAir on Thursday announced that it has operated five flights to bring home 900 Egyptian pilgrims from Saudi Arabia after performing Hajj (Islamic Greater Pilgrimage) rituals. On Wednesday, the national flag carrier began an airlift for transferring more than 70,000 Egyptian pilgrims on board of 424 flights. The company said it will op...
August 16th, 2019 | 0 commentsEgypt's Ministry of Electricity stressed that the country's national project for the peaceful uses of nuclear energy at Dabaa nuclear power plant is constructed according to state-of-the-art technologies and the highest levels of safety measures adopted worldwide . The ministry said in statement to Al-Ahram newspaper on Thursday that a co...
August 16th, 2019 | 0 commentsThe Central Bank of Egypt (CBE) will issue EGP 19 billion worth of treasury bills (T-bills) on Thursday in collaboration with the Ministry of Finance (MoF) to finance the country’s budget deficit. The first tranche of the T-bills will be offered through 182-day notes at a value of EGP 9.25 billion, while the second tranche will be offered...
August 16th, 2019 | 0 commentsEastern Co on Thursday announced the new prices of some of its products after applying the value-added tax (VAT) on 14 August. The price of Mondial will be EGP 17.5 instead of EGP 16.5, according to the company’s statement to the Egyptian Exchange (EGX). Meanwhile, Black Label’s price will be EGP 23 instead of EGP 22. It is worth noting t...
August 16th, 2019 | 0 commentsThe consolidated income statements of the Egyptian International Pharmaceutical Industries Company (EIPICO) for the first six months of fiscal year 2019 showed a marginal increase in profits when compared to the corresponding half a year earlier. EIPICO achieved EGP 398.3 million worth of profits in the interim consolidated financials of...
August 16th, 2019 | 0 commentsEgypt’s external debt rose by 20.4% year-on-year to $106.2 billion during the first quarter of 2019 from $88.16 billion, the World Bank announced in a recent report. The country’s external debt recorded $96.6 billion by the end of fiscal year 2018, according to the World Bank. In May 2019, total external debt rose by 3.4% to $96.6 billion...
August 16th, 2019 | 0 commentsThe Egyptian Exchange’s (EGX) indices ended lower on Thursday, dragged down by selling pressure. The main index, EGX30, declined by 245.42 points, or 1.69%, to close at 14,295 points, while the small and medium companies index, EGX70, inched up to close at 540 points. The EGX100 index lost 0.76% to close at 1,420 points, while the EGX50 i...
August 16th, 2019 | 0 commentsPharos Research has set the fair value (FV) of the Egyptian International Pharmaceutical Industries Company (EIPICO) at EGP 95.3, with an overweight recommendation, according to a report released on Thursday. EIPICO can enhance its operations through the introduction of new products and the revision of medicine prices, along with the redu...
August 16th, 2019 | 0 commentsThe Central Bank of Egypt (CBE) stated on Thursday that the returns on 182-day and 364-day bills have reached EGP 17.215 billion. The average return on 182-day treasury bills registered 17.7%, with a total turnover of EGP 7.022 billion. Meanwhile, the average return on 364-day treasury bills hit 17%, with a total turnover of EGP 10.193 bi...
August 16th, 2019 | 0 commentsEgypt’s President Abdel Fattah al-Sisi on Thursday approved an agreement with the European Investment Bank (EIB), for a EUR 350 million loan. The loan will be used for the renovation and development of the First Line of Cairo Metro, according to a statement released on the Official Gazette. In July, the Egyptian transport ministry unveile...
