Ezz Steel reported a 1Q2016 net loss after tax and minority interest of EGP 136.90 mn even though sales grew to EGP 4.97 bn from EGP 4.79 bn a year ago. Ezz Steel blames “weak exports and a chronic gas shortage” as factories were operating at less than 50%, Reuters notes.

Net profits after tax of the Egyptian Gulf Bank increased by 99.7% to EGP 240.6 mn y-o-y in 1H16, the bank said in its disclosure. The bank gave loans of EGP 4.4 bn in loans in 1H16, increasing its loan portfolio to a total of EGP 12.6 bn in funding end of June compared.