FX Gains and Losses| A Reminder of 1Q22

| Net FX Losses Percentage of Bottom Line, %
| Company  | 1Q22
| ESRS  | -149.3%
| IRAX  | -86.9%
| ARCC  | -86.8%
| AUTO  | -57.7%
| ORWE  | -25.0%
| ORHD  | -25.0%
| DOMT  | -23.7%
| OLFI  | -21.9%
| EKHO  | -9.6%
| *CCAP  | 209.9%
| *CCAP reported net bottom line losses in 1Q22

| Companies Expected to Report FX Gains
| Net FX Gains Percentage of Bottom Line, %
| Company  | 1Q22
| HRHO  | 165.1%
| LCSW  | 126.1%
| BINV  | 92.6%
| ADIB  | 87.1%
| FAIT  | 63.3%
| CICH  | 54.7%
| DSCW  | 42.0%
| CANA  | 36.9%
| TMGH  | 26.3%
| QNBA  | 25.9%
| CIEB  | 17.6%
| ALCN  | 17.2%
| EGBE  | 16.2%
| PACH  | 12.8%
| COMI  | 12.6%

The Qatar Investment Authority (QIA) is considering investing in a green hydrogen and ammonia project in the Suez Canal Economic Zone.

Egypt aims to sign projects with investments exceeding USD10 billion, on the sidelines of the upcoming climate summit in Sharm el-Sheikh.

The African Development Bank intends to provide more than USD1 billion financing to the government's program for eco-friendly green projects "Nouwfi". 

The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, exempting goods imported for private use before 26 October from import regulations. The decision will apply to individuals, companies and factories.

The House of Representatives approved disbursing a EGP300 bonus to public-sector employees and pensioners this month.

Domestic liquidity (M2) in the banking sector increased to EGP6.95 trillion during the 9M2022, from EGP5.82 trillion pounds in December 2021.

EGAL raised its selling prices in the local market by an average of EGP13-14k per ton for the month of November.

In line with yesterday's rebars price increases, ESRS (FV:EGP21.75, OW) raised flat steel price by c. EGP2,000/ton to EGP22,000/ton (including VAT) as of November 1, 2022, 10%.

Suez Cement is investing USD25 mn in the waste heat recovery facility at its Helwan plant. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant’s electricity needs.

 CLHO (FV: EGP6.25, OW) signed an 18-year concession agreement for Haven Hospital, an operating hospital located in 6th of October City. 

ADCI released 1Q22/23 initial indicators. Bottom-line increased by 7.8% YoY and 256.4% QoQ to record EGP27.7 million, implying NPM of 18%.

OLFI's (FV: EGP8.50, OW) factories have been non-functional for one week as their suppliers fail to provide the needed amount of palm oil as it's being held at ports. 

Rimco Investments acquired a 1.38% stake in EFID (FV: EGP12.00, OW) through buying 10 mn shares at a price of EGP10.15/share, and a total cost of EGP101.5 mn which brings Rimco Investment’s stake to 5.35% with an average transaction value of EGP9.78/share.

Al Moatabar Group’s Camel Flour Mills (CFM) has acquired a majority stake in the distressed flour producer Five Stars. CFM did not disclose the size and value of the transaction.

GB Auto raised the selling prices for their brand Haval by EGP70-100 thousand.

HELI (FV: EGP12.40, OW) Board proposed the distribution of EGP0.22/share cash dividends (DY of 3.8%).

According to local media, PHDC (FV: EGP3.37, OW) is raising selling prices by 10.0% this week.

Total deposits of banks in foreign currency, other than the government, rose to EGP898.57 billion by the end of September, compared to EGP650.82 billion at the end of last