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Manage episode 437825788 series 2987212
*Key news articles for today*
The headline PMI rose in August to 50.4, rising from 49.7 in July, to signal the first improvement in the health of the non-oil private sector since November 2020.
The industry, transport, and investment ministries are mulling the creation of a freezone for African investors as part of the government’s long-term goal of increasing trade with the continent.
The IMF revealed that Egypt aims to gradually reduce government guarantees in the coming period.
Saudi Arabia and Libya have financed the purchase of gas cargoes worth at least USD200 million to help Egypt ease its energy crisis.
The Italian Eni is planning to increase the production of “Zohr” field to nearly two billion cubic feet per day early next year.
The Ministry of Petroleum intends to import between 6-8 LNG shipments in September.
The Egyptian General Petroleum Corporation (EGPC) reached an agreement with the Egyptian Railways Authority to pay off a debt owed to the authority amounting to EGP6 billion over 5 years.
Indonesia plans to ink USD3.5 billion worth of trade and investment agreements with African countries — with a particular focus on Egypt, Kenya, South Africa, and Nigeria.
The CBE sold some EGP23.2 billion of EGP-denominated three-year treasury bonds yesterday — over 3.5 times its target of EGP5 billion, with an average interest rate of 25.2%.
The government is planning to up its strategic wheat reserves from six-months’ supply to nine months if it secures the necessary funds.
EGCH released 4Q23/24 unaudited financial indicators posting net losses worth EGP32 million during 4Q23/24 as compared to a net profit of EGP46 million in 4Q22/23 and a net loss of EGP411 million in 3Q23/24 due to growing interest expenses. On an annual basis, net profit declined by 94% YoY to EGP70 million in FY23/24, from EGP1.2 billion in FY22/23. EGCH is currently trading at a FY2024/2025 PE of 20.5x.
The government plans to limit providing subsidized fertilizers to 8 strategic crops only in order rationalize fertilizers subsidies.
Indian companies study injecting investments in Egypt fertilizers, green hydrogen and food industries.
TMGH expects its USD revenue to reach USD856.0 million by 2028, supported by the company's hotel portfolio.
OCDI launched Ogami, its project situated on 440 feddans in Ras El Hekma on the North Coast. The project offers 1,900 units and is home to the Nobu Hotel and Residences.
HRHO have launched asset servicing arrangement and custody arrangement services, which aim to address the unique challenges faced by high-net-worth individuals, family offices, and small- to mid-sized funds in accessing custody arrangement services.
1457 ตอน
Manage episode 437825788 series 2987212
*Key news articles for today*
The headline PMI rose in August to 50.4, rising from 49.7 in July, to signal the first improvement in the health of the non-oil private sector since November 2020.
The industry, transport, and investment ministries are mulling the creation of a freezone for African investors as part of the government’s long-term goal of increasing trade with the continent.
The IMF revealed that Egypt aims to gradually reduce government guarantees in the coming period.
Saudi Arabia and Libya have financed the purchase of gas cargoes worth at least USD200 million to help Egypt ease its energy crisis.
The Italian Eni is planning to increase the production of “Zohr” field to nearly two billion cubic feet per day early next year.
The Ministry of Petroleum intends to import between 6-8 LNG shipments in September.
The Egyptian General Petroleum Corporation (EGPC) reached an agreement with the Egyptian Railways Authority to pay off a debt owed to the authority amounting to EGP6 billion over 5 years.
Indonesia plans to ink USD3.5 billion worth of trade and investment agreements with African countries — with a particular focus on Egypt, Kenya, South Africa, and Nigeria.
The CBE sold some EGP23.2 billion of EGP-denominated three-year treasury bonds yesterday — over 3.5 times its target of EGP5 billion, with an average interest rate of 25.2%.
The government is planning to up its strategic wheat reserves from six-months’ supply to nine months if it secures the necessary funds.
EGCH released 4Q23/24 unaudited financial indicators posting net losses worth EGP32 million during 4Q23/24 as compared to a net profit of EGP46 million in 4Q22/23 and a net loss of EGP411 million in 3Q23/24 due to growing interest expenses. On an annual basis, net profit declined by 94% YoY to EGP70 million in FY23/24, from EGP1.2 billion in FY22/23. EGCH is currently trading at a FY2024/2025 PE of 20.5x.
The government plans to limit providing subsidized fertilizers to 8 strategic crops only in order rationalize fertilizers subsidies.
Indian companies study injecting investments in Egypt fertilizers, green hydrogen and food industries.
TMGH expects its USD revenue to reach USD856.0 million by 2028, supported by the company's hotel portfolio.
OCDI launched Ogami, its project situated on 440 feddans in Ras El Hekma on the North Coast. The project offers 1,900 units and is home to the Nobu Hotel and Residences.
HRHO have launched asset servicing arrangement and custody arrangement services, which aim to address the unique challenges faced by high-net-worth individuals, family offices, and small- to mid-sized funds in accessing custody arrangement services.
1457 ตอน
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