FDA authorized Pfizer’s at-home pill, which was proven to be effective against the Omicron variant. Such news should reduce Omicron-induced volatility in global markets.

President El-Sisi stated the government is to limit the number of beneficiaries from ration cards. 

CCAP’s Egyptian Refining Company (ERC) is close to reaching a preliminary debt restructuring agreement for its USD2.35 bn debt. 

A group of fertilizers producers asked for setting up an auction through the commodity exchange market to sell 10% of their production at liberalized prices. 

Orascom Construction/Hassan Allan and Other consortia should hear back from the government on their bids, worth a combined USD 3 bn, to build desalination plants in 1H2022. 

Global production of steel dropped by 9.9% on a monthly basis in November 2021 to 143.3 million tons. Bodes well for exports of Egyptian producers. 

HELI sold a plot of land to ZMID, for EGP 108 million, with an area of 31.2 thousand sqm in New Heliopolis at a price of EGP3,470 per sqm. 

Ministry of Tourism estimated the number of hotel rooms to be added in 2022 at about 8.5 thousand rooms (+50% YoY).

The window to subscribe to CI Capital’s voluntary tender offer for 26% of CLHO will be over on Sunday, 26 December.

ALCN and Canal Ports go to court for disputes related to the execution of Pier 96 project. ALCN is suing for EGP610.3 million in forgone profits due to 4 years’ delay in project execution, while Canal Ports is suing for EGP60 million for additional construction costs. 

A consortium of 3 companies, including Damietta Container Handling Company (20% owned by CSAG), is studying the construction and operation of the dry port located in Damietta Governorate.

FAIT finalized a capital increase worth USD101.25 mn (EGP1,609.8 mn) financed from retained earnings, translating into 0.20 bonus shares/share. Record date is 5 January 2022 while distribution date is 6 January 2022. 

EGBE's BOD has approved the targeted growth in bottom-line in 2022 to be 15%.