Net foreign liability (NFL) position of banks records USD11.5 billion in January compared to USD10 billion in December

Suez Canal revenues rose by 15.1% in February 2022, to USD545.5 million

The government plans to buy 5.5 million tons of wheat from local farmers during the upcoming season, +38%

EAST declared yesterday a price increase for 7 of its local products; This rise in prices adds EGP1,659 mn to the top-line, on an annual basis, or EGP553 mn to the four-month period remaining in FY21/22; Adds to annual bottom-line EGP398 mn, or EGP132 mn for the four-month period remaining in FY21/22; This rise in prices is introduced to cover higher costs; These developments translate into revenues for FY21/22 that are above EGP17 bn and bottom line that is above EGP5.0 bn; EAST is trading at FY21/22 P/E of 5.7x and an EV/EBITDA of 3.0x

Phillip Morris followed EAST's track by raising selling prices of some of its products by EGP1.0-2.0/pack, effective today

Steel producers are searching for alternative markets to source iron ore and raw material, with the escalation of the Russian-Ukrainian conflict; ESRS has not raised prices yet, contrary to what is started in local media today

MCQE net attributable income reached EGP39 million in 4Q21 (+15% YoY); FY2021 bottom-line surged more than 4x to EGP146 million; MCQE is currently trading at a P/E of 11.6x, EV/EBITDA of 4.0x, and EV/ton of EGP416.3 (USD26.4)

LCSW losses narrowed to EGP23.3 million compared to EGP222.4 million, mainly due to sales and exports recovery, as well as a decline in net financing expenses

POUL net profit recorded EGP182 mn in 2021 (+76.3% YoY) due to higher revenues and lower interest expense; POUL is currently trading at a FY22 P/E of 6.8x and an EV/EBITDA of 4.5x

[Re-Run] GB Capital is mulling a partial sale of its Netherlands-based finance subsidiary MNT Investments, which is 57.26% owned by AUTO; The transaction will be a key catalyst for reminding the market of the value of GB Capital (c.EGP6.50/AUTO share) and AUTO stock in general (c.EGP8.00/share)

Passenger cars selling prices have been climbing and expected to witness a further rise due to shipping prices, as well as the rallying Palladium prices (sourced from Russia)

Taqa Arabia, on of CCAP’s subsidiaries, will invest USD11 million in 12 car gas stations in Tanzania

ETEL signed an agreement with AFR-IX Telecom, a telecom and infrastructure company in Barcelona, regarding the landing of the Medusa submarine cable in Egypt

Aman, a subsidiary of RAYA, targets a microfinance portfolio size of EGP2.5 billion in 2022, up from EGP1.3 billion currently

FRA has approved raising the maximum policy for microinsurance products to EGP200k from EGP100k

Administrative Capital for Urban Development is planning to IPO its subsidiaries in the fields of electricity and management on the EGX in around two years

CLHO purchased 11 million treasury shares to date

SPMD: Economic Court fined Mahmoud Lashin, personally EGP40 million in two lawsuits