Cheap valuations, higher yields, faster growth, and the revival of the Chinese economy could make a bull case for EM assets, as per some global investment banks. (Bloomberg) 

There are signs that demand for fuel could begin to fall as soaring oil and gas prices increase economic pressure on consumers.

Foreigners' outstanding balance of T-bills plunged to around USD10 billion in March and USD9.7 billion in April, down from USD24 billion in September 2021.

Expedition Investments has submitted an official bid to acquire a 34% stake in Domty, at EGP 5.00/share. DOMT is currently trading at a FY22 P/E of 9.2x and an EV/EBITDA of 6.6x

JUFO dairy segment revenues recorded EGP1,299 million (+31% YoY). The concentrates segment showed QoQ growth of 42.2% to EGP64 million. However, the juice segment witnessed a QoQ drop of 5.7% due to fierce competition. 

POUL released a disclosure that it did not receive any acquisition offers from Almarai.

AUTO declared to the local media that its inventory of spare parts is around 3 months, after which it will be facing an issue if import controls remain.

MNHD Board approved signing a framework contract for the acquisition of MINKA and EgyCan until the updated IFA report is ready and until the final contract is signed to acquire the two companies at a maximum value of EGP200.0 million. 

SWDY aims to complete the development of the first phase of the Sokhna 360 project by 2025, on a total area of about 10 million square meters within the Suez Canal Economic Zone. 

Ministry of Public Enterprises is hoping the Saudi Public Investment Fund (PIF) takes a decision regarding its investment in EGAL before year-end.

Raya Electronics plans to invest EGP200 million to add 10 new shops in 2022, in order to reach a total of 70 shops by the end of the year.