Egypt’s NIR inched up in January by USD45 million to record USD40.98 billion

Minister of Trade and Industry issued a decision to establish a council for the textile industries, which aims at developing the local textile industries 

The EGX has shuffled its list of securities eligible for same-day trading, margin trading and short selling 

MTIE announced signing a distribution agreement with Apple Trading Egypt to become a non-exclusive authorized distributor; Sales to start by 3Q22; Margins are expected to be close to Samsung at 6%; MTIE is trading at 2022f P/E of 13.5x and EV/EBITDA of 10.4x

FRA approved FWRY’s EGP800 mn capital increase; EGP400 million to expand in NBFS, EGP300 million to develop MyFawry SuperApp and EGP100 million for other investments

ValU, has partnered with AUC to offer financing plans for undergraduate and graduate degree programs

Banque Misr has contracted an IFA to value the intangible assets and FV of CICH

OFH's dot electronics and e-payments subsidiary "Klivvr" has signed a strategic partnership agreement with Visa 

A study is now underway to establish an Egyptian and Arab reinsurance company with paid-in capital that is not less than EGP1 billion

MCRO’s IPO retail component was 32x

AXPH released 1H21/22 bottom line at EGP57 million in 1H21/22 (-27.5% YoY), due to margin pressure; AXPH is currently trading at FY21/22 P/E of 7x

ALCN released 2Q21/22 net profit hit EGP381 million in 2Q21/22, a YoY rise of 9.8%; ALCN is currently trading at annualized FY21/22 PE of 7.9x and an EV/EBITDA of 7.8x

EFIC released standalone results for FY2021 with net profit reached EGP218 million compared to EGP72 million in FY2020, +203% YoY; EFIC is currently trading at a P/E multiple of 5.7x and EV/EBITDA of 2.5x

AMER appointed Hosny Hany as the company’s new CEO and Managing Director.

RTVC approved a new IFA valuation of its subsidiary, Amban Touristic Investments, of EGP364.4 million (EGP1.48/RTVC share)

The Emergency Benefit Fund intends to limit entitlement to monthly benefits for workers in the tourism sector to companies reporting losses this year

Dairy and juice producer Beyti plans to invest EGP250 mn in Egypt this year to add new production lines and expand the company’s distribution network