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Thursday, 27 April 2017

What we’re tracking on 27 April 2017

Shares in Raya Contact Center will start trading today under the ticker RACC, opening at EGP 16.50.Raya reported a consolidated net profit of EGP 118 mn for FY2016, up from EGP 30 mn in FY2015. Forex gains reached EGP 93 mn, largely on the back of the EGP float, the company said in a regulatory filing. EFG Hermes was sole global coordinator and bookrunner for the transaction. Dechert LLP was international counsel to the issuer, Zaki Hashem and Partners was local counsel to the issuer, and Matouk Bassiouny was local counsel to the sole global coordinator and bookrunner.

Pope Francis’ two-day visit to Egypt, the first by a sitting pope in 16 years, kicks off tomorrow (in case you have been hiding under a rock for the past month). He take part in a peace summit at Al Azhar, which is facing criticism that its teachings, though moderate, uphold strict adherence to doctrine. These criticisms were a driver behind MPs proposing a law that would impact appointments to its upper echelon. Al Azhar Sheikh Ahmed El Tayeb condemned the criticism at a meeting with the World Council of Churches delegation, Al Masry Al Youm reports.

The Islamic month of Sha’ban starts tonight, Dar Al-Ifta said in a statement, You can begin counting down 29-30 days until Ramadan from Friday.

Air travel to the United States could yet become even more unpleasant as the Guardian reports that all travelers from Europe could face a ban on electronics in aircraft cabins. Anyone out there predicting the revival of trans-Atlantic passenger boat route?

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