• Thursday, 26 May 2022

    Earnings watch: HDB + Heliopolis Housing report 1Q 2022 results

    EARNINGS WATCH-Housing and Development Bank’s (HDB) net income fell 3.5% y-o-y in 1Q 2022 to EGP 628 mn, according to the bank’s latest financial statement (pdf). The bank’s net interest income rose 18.6% y-o-y to EGP 976.50 mn.Heliopolis Housing and...
  • Monday, 31 January 2022

    State privatization program to resume in March -Maait

    Privatization program to resume in March -Maait: We can expect more state-owned companies to offer shares on the EGX in the coming weeks, according to Finance Minister Mohamed Maait, who told Bloomberg Asharq (watch, runtime: 3:26) yesterday that the state...
  • Monday, 3 January 2022

    Egypt preparing bid for 2036 Olympics

    Egypt wants to host the Olympics: Egypt plans to submit an official bid to host the 2036 Summer Olympics, according to Sports Minister Ashraf Sobhi, who told Sky News Arabia the government is working on a “comprehensive file” to submit...
  • Wednesday, 15 December 2021

    HHD’s losses widen + Arafa’s earnings fall 81% in 3Q2021

    MARKET NEWS-Heliopolis Housing and Development Company’s (HHD) losses widened to EGP 75.2 mn in 3Q2021, falling 82% y-o-y, according to the company’s financials (pdf). The company’s revenues came in at a negative, reporting a loss of EGP 41.7 mn, compared...
  • Thursday, 4 November 2021

    Heliopolis Housing wants to ride that e-Finance wave

    Heliopolis Housing and Development’s plan to tap the EGX appears to have been brought back from the dead in the wake of e-Finance’s recent IPO, with the state-owned real estate company now looking to pull the trigger on a secondary...
  • Wednesday, 3 November 2021

    TONIGHT: A new corporate green bond sale in the works + what’s up with Uber’s GPS? Plus: Supply chain woes aren’t doing Egypt’s private sector any favors

    Good afternoon, ladies and gents, and welcome to a busy second-to-last day of the workweek. A relatively calm news cycle this morning was pierced by news that Egypt has a fresh corporate green bond sale in the works, and indications...
  • Wednesday, 13 January 2021

    Also on our radar on 13 January 2021

    EBRD, UN to help Egypt’s tourism industry get back on its feet post-covid: The European Bank for Reconstruction and Development (EBRD) and the UN World Tourism Organization are providing a technical assistance package for Egypt’s tourism industry that has been...
  • Tuesday, 17 November 2020

    Earnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena)

    EARNINGS WATCH- Fawry’s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 mn from EGP 59.7 mn last year, according to a company earnings release (pdf). Revenues rose 45% to EGP 892.7 mn from EGP 614.9 mn last year....
  • Wednesday, 14 October 2020

    HCCD kicks off restructuring plans to streamline operations

    M&A WATCH- The new, slimmer HCCD: The state-owned Holding Company for Construction and Development (HCCD) is merging 11 of its subsidiary companies into just five in a bid to streamline the company and make it more efficient, Chairman Hesham Aboul...

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