• Wednesday, 8 September 2021

    Fawry shareholders green-light plans to buy back stakes held by CIB, Banque Misr

    Fawry’s shareholders greenlit the acquisition of CIB and Banque Misr’s stakes in subsidiary Fawry Plus, the e-payments giant announced in a bourse filing (pdf). Fawry will buy each of the two bank’s 15% stakes in its subsidiary at EGP 1.15...
  • Wednesday, 8 September 2021

    Customs + trade headline the talk shows on 8 September 2021

    Last night’s talk shows focused on President Abdel Fattah El Sisi’s tour of Alexandria Port, during which he inspected development work on a new multi-purpose logistics station, sea docks and storage warehouses, as well as new train carriages and the...
  • Thursday, 2 September 2021

    Is a golden era for EM equities around the corner?

    Is a golden era for emerging market equities around the corner? Investors are banking on a rebound in EM stocks, with EM equity funds having seen USD 81 bn in inflows so far this year, despite market volatility caused by...
  • Thursday, 2 September 2021

    Más pesos

    Egyptian exports heading to South America will as of today be charged lower customs rates under a trade agreement signed in 2010, according to a ministry statement. Customs paid on some 6.9k goods heading to countries in the Mercosur trading...
  • Tuesday, 31 August 2021

    First a global chip shortage, now the capacitors used in electronic devices?

    Aluminum prices are touching highs last seen a decade ago, buoyed by strong demand from buyers rushing to line up metal can, aircraft and building material shipments, the Wall Street Journal reports. Prices are currently almost 80% higher than their...
  • Tuesday, 31 August 2021

    Egycomex to go live in 1Q2022

    Egypt’s long-awaited commodities exchange (Egycomex) is set to start full operations in 1Q2022, Ibrahim Ashmawy, head of the Internal Trade Development Authority and chairman of the new exchange, told Akhbar Al Youm. The commodities exchange began trading on a pilot...
  • Monday, 30 August 2021

    Israel attacks gaza + Libyan oil minister attempts to oust National Oil Corporation head

    The Israeli air force attacked two Hamas sites in Gaza Sunday, the IDF tweeted, in response to the launching of incendiary balloons into southern Israel and border clashes that have continued for the second week running, Reuters reports. There were...
  • Tuesday, 24 August 2021

    Suez Canal revenues are up

    Suez Canal revenues rose almost 11.2% y-o-y to USD 3.88 bn from January to August, compared with the preceding year when revenues came in at USD 3.49 bn, Suez Canal Authority (SCA) boss Osama Rabie told a Sada El Balad...
  • Monday, 23 August 2021

    A rain check on the new customs system, please?

    The business community is once more calling for the postponement of the ACI: Importers and exporters are lobbying for a multi-month extension of the 1 October deadline for registering on the Advanced Cargo Information (ACI) pre-registration system — also known...

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