If History Were to Repeat Itself, Post-2016 Flotation Moves: Stocks that rose more than 75% in 2 months: ESRS, IRAX, ALCN, AMOC, ORWE, ECAP, LCSW, ADIB, CIEB

Net Foreign Assets (NFAs) in the banking system remained broadly stable in July at USD-19.4 billion compared to USD-19.7 billion in June. 

El-Sisi issued a decision yesterday to increase the exceptional financial support for families using ration/subsidy cards to EGP300 instead of EGP100.

The government will pay farmers an indicative price of EGP 1k per ardeb of wheat next season, a hike of nearly 15%.

It is expected that the final draft of the state ownership policy document will be prepared within the next few days. 

The government plans to announce a tender to launch 3,000 electric car charging stations next October, with an initial cost of about USD450 million.

The consortium behind the 100-MW green hydrogen plant being built in Ain Sokhna — Norway’s Scatec, Fertiglobe, and Orascom Construction — will receive land under the usufruct system.

Siemens got the nod from the Cabinet for a contract to improve energy efficiency in North Cairo, Alexandria, and the Delta.

Building materials exports increased by 20% during 1H2022, recording USD3.69 billion. Cement exports surged 71% YoY to USD336 million.

Phillip Morris started manufacturing cigarettes locally through United Tobacco Company (UTC), after reaching an agreement with EAST earlier this year. 

So far, 14.3% of DOMT's shareholders responded to Expedition Investment offer.

EGTS reported 2Q21 net loss of EGP6.2 million, bringing 1H22 net loss to EGP77.2 million, compared to 1H21 net loss of EGP12.7 million.

PHDC is purchasing treasury shares during the period 31 August 2022 to 30 November 2022.

ACAMD and the Egyptian Company for Housing and Development - RAMW approved the agreement to co-develop ACAMD’s 24.8k sqm Tanta land plot whereby ACAMD’s revenue share would be 29.0% and RAMW would pay EGP40.0 million as a down payment upon contract signing.

AMES has appointed Anderson as its financial advisor to study Tawasol/LimeVest's acquisition bid.

GSK net profit witnessed a surge in 1H2022 to record EGP871.8 million versus EGP20.7 million in 1H2021. 

MIPH net profit increased by 7% to record EGP273.5 million in 1H2022.  

Atico Pharma Egypt intends to invest EGP450 mn to build two new lines to produce vaccines by 1H2023.