Mohamed Ahmed

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Banks, pharmaceutical shares expected to attract investors in 2017

The flotation of the Egyptian pound will play an influential role in determining the attractiveness of shares for investors during 2017, especially after the price of the US dollar increased to more than EGP 19, which will affect companies’ activities and their ability to make a profit. Financial and technical analysts expect that the most …

Mohamed Ahmed

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AMOC revenues poised to grow at an average 72% annually until 2018/2019

Floating the exchange rate has boosted expected financial results of Alexandria Mineral Oils Company (AMOC). Specialised in turning heavy fuel oil into high-value petroleum products, the company’s output is valued according to the price of the US dollar, while the greenback accounts for 88% of its inputs of raw materials. According to a report by …

Mohamed Ahmed

SISI in suez canal anniversary 4

318 ships transit Suez Canal last week carrying 17.26m tonnes

Suez Canal traffic data showed that 318 ships transited the canal, with a total load of 17.26m tonnes, between 6-12 January. An average of 45.43 ships transited the canal per day during that period, with an average load of 2.47m tonnes per day. The average load per ship was about 54,280 tonnes during that period. …

Mohamed Ahmed

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Bedaya Fund aims to acquire stakes in 2 companies for EGP 20m in Q1 2017

Bedaya Fund for Small- and Medium-Sized Enterprises (SMEs) aims to acquire stakes in two companies for a total value amounting to EGP 20m in the first quarter (Q1) of 2017, according to a source close to the management. The two companies are among 15 SMEs and startups. The source said that the fund’s management has …

Mohamed Ahmed

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KIMA pays Tecnomont EGP 1.3bn for planned Aswan expansion

Maher El-Abd, the head of investor relations in the Egyptian Chemical Industries Company (KIMA), said that the company has paid EGP 1.3bn by the end of 2016 to the Italian company Tecnomont. The money is meant to be spent on construction and operational processes to establish new production units, and carry out the rehabilitation of …

Mohamed Ahmed

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Mubasher offers consulting for 3 deals worth EGP 150m

Mubasher Advisory for Securities is offering a package of financial consulting services to a number of companies, said board member Ehab Rashad. The companies, he explained, aim to register on the Egyptian Exchange (EGX), Nile Stock Exchange, or implementing expansions. Rashad noted that the first deal, to which Mubasher is advising, includes three deals for …

Mohamed Ahmed

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Hermes to cover 50% of Vortex acquisition of solar projects 

EFG-Hermes intends to play the role of initial public offering (IPO) underwriter for a 50% ratio of the capital of the agreement entered into by Vortex Company to acquire various solar power projects owned by Terra Form Power in the United Kingdom at a value of ÂŁ470m. EFG-Hermes will retain 5% of the value of …

Mohamed Ahmed

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293 ships transit the Suez Canal in 6 days carrying 15.3m tonnes

Suez Canal traffic data showed that 293 ships transited the canal, with a total load of 15.3m tonnes, in the last six days of last week. An average of 48.83 ships transited the canal per day during that period, with an average load of 2.55m tonnes per day. The average load per ship was about …

Mohamed Ahmed

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EGX30 targets 13,100 points this week

Technical analysts predicted that the Egyptian Exchange (EGX) will continue to take advantage of the falling price of the pound, and aims to achieve a new record level near 13,050-13,100 points in this week’s trading after the New Year’s celebrations and Christmas holidays. The EGX30 closed at a new level of 12,824.3 points, with weekly …

Mohamed Ahmed

zahraa maadai

ZMID aims to collect instalments worth EGP 169m within one year

Zahraa Maadi Investment and Development company (ZMID) aims to collect the instalments generated from the sale of land and housing units worth EGP 169m within a year in order to support the company’s liquidity, according to a source in the company. The source noted that these units and lands are located in Zahraa Maadi city. …

Mohamed Ahmed