Russian forces stepped up their assault in Kyiv overnight; Select Russian banks are about to be cut off from the global banking system

CBE: Foreign investments in Egyptian T-bills recorded a lower decline in December 2021, recording a balance of USD20.48 billion

Remittances from Egyptians working abroad increased by 6.6% YoY during the 11M2021, recording USD28.9 billion

State grain buyer GASC will look to buy 55,000-60,000 tons of wheat in an international tender tomorrow.

Tender for the Tenth of Ramadan EGP 3.5 bn dry port will be held today, with four consortiums competing including Orascom Construction-Abu Dhabi Ports and Elsewedy Electric-CMA CGM

Transport Ministry and the consortium of Siemens Mobility, Orascom Construction and Arab Contractors will sign final contracts for the second and third lines of the high-speed rail line next month 

AUTO consolidated attributable 4Q21 net profit for the quarter amounted to EGP472 mn (+42.1% QoQ, +64.2% YoY); FY21 consolidated bottom-line amounted to EGP1,478 mn, +61.2% YoY; Expects 2021 dividends to be in the range of EGP0.30-0.35/share, DY of 6.5%; AUTO is currently trading at a FY22 P/E of 4.4x and EV/EBITDA of 7.2x

EAST's BoD decided to centralize the production capacities of the company’s factories in different governorates gradually in EAST’s industrial complex in 6th of October city; Booking of early retirement provisions will continue until the end of FY21/22

RMDA reported 2021 attributable net profit of EGP181.1 million in 2021 (+61.4% YoY), On a quarterly basis, attributable net profit came in at EGP74 million in 4Q21 (+70.1% YoY, +63.3% QoQ); RMDA is currently trading at 2022f P/E of 12.0x and EV/EBITDA of 7.6x

SPMD’s BoD appointed Dr. Ahmed Sameh Hosny Farid, former Minister of Health, as Chairman; Eng. Hazem Farouk El Far as Vice Chairman and Managing Director; SPMD is currently trading at 2022f P/E of 8.2x and EV/EBITDA of 5.9x

CNFN released consolidated net attributable income expanded by 32% y/y recording EGP465 million. CNFN is currently trading at P/E22 of 8.6x, and P/B of 1.6x

Etisalat Group has changed its brand identity to e& and is eyeing a transaction related to Egypt’s fintech sector as part of its expansion plans

ACAMD Board is negotiating better offer by El Rawasy for Real Estate Development to co-develop ACAMD's Zefta land plot

Tourism sources expect Russian demand for reservations to decline by 7-11% during the next two months if economic sanctions continue and expect a bigger decline in Ukrainian demand during the next two months