El Sisi held a meeting with a delegation of Egyptian business leaders and investors from a range of industries. El Sisi said import issues will be resolved in a month or two.

Foreign companies rejected the Egyptian Electricity Transmission Company’s decision to pay the value of contracts and tenders for the supply and installation of station equipment in EGP-equivalent instead of USD.

The House of Representatives’ general assembly gave its final approval yesterday to two separate bills of particular interest to car assemblers and distributors. The 

OLFI reported positive 3Q22 attributable of  EGP145.7 mn (+31% YoY, +61.5% QoQ), backed by a trickling down of record-breaking revenues and gross profit. OLFI is currently trading at a FY23 P/E of 4.2x and an EV/EBITDA of 3.6x.

EFIH led a USD3 million financing round for a minority stake in “Nexta” to generate operational synergies between Nexta and the Group’s subsidiaries.

The volume of e-commerce in Egypt has reached about USD6 billion through payment cards, whether visa or direct debit cards (e-aswaaq of EFIH).

The Egypt Education Platform alliance and Egypt’s Sovereign Fund acquired 56% of Selah EL Telmeez for EGP500 million. 

OIH's BoD agreed to obtain an interest-free loan from its North Korean subsidiary amounting to EUR81.7 million and to purchase 10% treasury shares.

Aman for Financial Services, a subsidiary of RAYA, intends to issue securitization bonds of EGP600 million.

EGAL’s general assembly approved a cash dividend distribution for FY2021/22 of EGP4.50/share; DY of 18.7%.