Chipsy for Food Industries announced a significant new programme, specialised in the local production of potato seeds.
"This comes as a result of Chipsy's long journey of conducting scientific research and field trials, which saw it being rewarded (...)
Juhayna Food Industries, a leading Egyptian dairy, yoghurt, and juice manufacturer, announced on Monday its consolidated results for the first quarter (Q1) of 2018, reporting a 21% year-over-year rise in total consolidated revenue to EGP 1.53bn.
Net (...)
Egyptian shares are expected to move upwards this week, as foreign investors are likely to embark on building new positions in blue-chip stocks ahead of the imminent earnings season.
The indices of the Egyptian Exchange (EGX) are likely to see a (...)
Egypt's draft budget for fiscal year (FY) 2018/2019 suggests that the government is looking to tighten its finances and push ahead with fiscal reforms, which signals stable economic conditions in the most populous Arab country.
The government is (...)
Egypt kicked off its international roadshow for its upcoming eurobond issuance on Wednesday, as the most populous Arab country is getting ready to hit the global debt market again through a €1-1.5bn bond issuance, one governmental source told Daily (...)
Egyptian shares are expected to keep their rally alive after the Central Bank of Egypt (CBE) made another cut to interest rates at its Monetary Policy Committee (MPC) meeting.
The bank cut its key interest rates by 100 basis points for the second (...)
Egyptian shares kept their rally alive last week, although investors were booking gains from a sustained market rally, data compiled by the Egyptian Exchange, and obtained by Daily News Egypt, showed.
"We could see a profit-taking streak again this (...)
Egyptian shares are expected by analysts to halt their rally this week amid a profit-taking streak from a sustained market rally, but the mid-term outlook is still in an upwards trajectory, according to analysts polled by Daily News Egypt.
"We could (...)
Egypt shares are expected by analysts to keep their rally alive as the Central Bank of Egypt (CBE) is seen cutting interest rates at a faster pace, with inflation falling to its targets.
"The market will keep its rally alive in the medium-term. (...)
Egypt's shares are expected by analysts to move upwards in the few coming sessions, as foreign investors are expected to build new positions in large caps ahead of the earnings season.
The main index saw a return of purchasing powers, which helped (...)
For Jassim Alseddiqi, Abu Dhabi Financial Group (ADFG)'s chief executive officer, Egypt's economy is on track to attract more foreign inflows with investor confidence reinforced by the current reform programme, which is underway in full swing.
"The (...)
Porto Group Holding reported on Wednesday a 109% year-over-year hike in consolidated profits for 2017 as its revenues from main operations accelerated, the company said in a press release.
The Egyptian Exchange (EGX)-listed company net profit stood (...)
Samish Kumar, Transfast CEO, said Egypt is an important market for his company, which is expanding in the Middle East through launching a new product that mainly focus on small- and medium-enterprises that sell services and products online.
In an (...)
Beltone Financial Holding, through its subsidiary Misr – Beltone Financial, is set to manage a new sports fund launched by Banque Misr and licensed by the Egyptian Financial Regulatory Authority (FRA).
The fund's launch was announced at a press (...)
Egyptian shares are expected to resume their rally in the few coming weeks, after the Central Bank of Egypt (CBE) cut interest rates last week, a step seen by analysts to serve as the main boost to the market, with investors also likely to start (...)
With prices of coffee hovering around their lowest level in more than two years, this could be the best time to drink your cup of coffee amid a supply glut that is expected to last for at least two harvesting seasons.
Coffee, which is regarded as (...)
SHUAA Capital, the UAE-based integrated financial services firm, launched on Monday its operation in the Egyptian market amid a heavy presence from Egypt's top officials including Minister of Investment and International Cooperation Sahar Naser and (...)
A further fall in Egypt's inflation is paving the way for interest rates cuts, as the Central Bank of Egypt's Monetary Policy Committee (MPC) is scheduled to meet this week, a recent research note issued by London-based consultancy Capital Economics (...)
Dana Gas on Sunday said that its receivables from Egypt stood at $164m in Egypt in 2017, accounting for 129% of billings, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Accordingly, Dana's total receivable balance in Egypt fell (...)
Egyptian shares were not spared from the drama that afflicted stock markets around the globe last week, as investors embarked on a fresh sell-off streak amid fears arising from another rout in global shares.
"Last week's trade witnessed excessive (...)
A recent report issued by Capital Economics said that Egypt's gas sector is expected to play a key role in boosting the economy in the few coming years.
Last week, Egypt's President Abdel Fattah Al-Sisi inaugurated the Zohr gas field which, combined (...)
A recent report issued by Arqaam Capital expects Egypt's economy to keep its growth trajectory alive, with the government continually carrying out its reform plans.
According to the report, growth in Egypt is set to accelerate to 5-6%, contingent on (...)
Following a deterioration in December, business conditions in the Egyptian non-oil private sector broadly stabilised in January, Purchasing Managers' Index (PMI) data released by Emirates NBD on Monday suggested.
This mainly reflected stabilisation (...)
Amer Group Holding's consolidated net profit declined 50% in 2017, as the company revenues decelerate, the company said in a press release on Sunday.
Net profits stood at EGP 92.9m last year, versus EGP 184.4m profits in 2016.
Revenues narrowed to (...)
Egypt is likely to top African countries in terms of economic growth in 2018, according to a recent report by BMI Research, a Fitch Ratings research unit.
"While the region as a whole is set to see growth accelerate, Egypt stands out as the economic (...)