Regulatory approval will be required before conducting due diligence on non-banking financial institutions, according to a decision announced by FRA; Requirement will come into effect when it’s published in the Official Gazette

CBE is launching an initiative with the Credit Guarantee Company to help cover the risks associated with issuing letters of credit from banks

The House of Representatives approved the amendment to the Capital Market Law to allows legal entities or projects to issue securitized bonds in exchange for future cash flows

CIRA and ACH to finance 50% of Saxony University from internal funds; Phase I investment cost is EGP1.4 bn

ADIB 4Q21 consolidated net profit pre minority interest recorded EGP381 million (+8% y/y); 2021 profit hit EGP1,451 million (+21% y/y); Stock is trading at P/E 22 of 1.9x and P/B 22 of 0.3x, on ROAE of 19%

CANA's 4Q21 net profit pre-minority interest and appropriations recorded EGP228 million (+67% q/q, -8% y/y). 2021 bottom-line recorded EGP605 million (+1% YoY); The stock is currently trading at P/B22 of 0.5x and P/E22 of 5.1x

EGBE released consolidated financial results where the bottom-line recorded EGP695.33 mn compared to EGP624.88 mn in 2020 (+11.27% y/y); Stock is trading at 2022 P/E of 4.6x

ELEC and its subsidiaries signed a financing contract worth EGP450 million with HDBK to finance working capital

ETRS consolidated net profit reached EGP18 million, 40% up from EGP13 million during FY2020; ETRS is currently trading at P/E of 15.2x

Alexandria Port Authority has studied the implementation of a new liquid bulk terminal; Transportation Ministry intends to sign a contract for the management and operation of the Sokhna and Dekheila stations with a foreign consortium next month; This will raise competition for ALCN 

AMER disclosed that it has not received any official letters regarding its development rate in Porto Minya

The Economic Affairs Committee of the House of Representatives has given preliminary approval to amendments regarding real estate brokerage regulation

Mobile phone sales in Egypt grew by 11% YoY in 2021; Samsung topped the list with a market share of 32%

The Suez Canal Authority plans to list two of its subsidiaries on the EGX next year

A consortium of Gulf banks, arranged a joint loan to Banque Misr worth USD250 million over a three-year term

Egypt raised the self-sufficiency rate of wheat production to 62% in 2021 from 51% in 2020

Preparations to extend the Advance Cargo Information (ACI) system to air freight are underway