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เนื้อหาจัดทำโดย Al Ahly Pharos เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก Al Ahly Pharos หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal
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Technical Analysis
Manage episode 439521189 series 2987212
เนื้อหาจัดทำโดย Al Ahly Pharos เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก Al Ahly Pharos หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal
Market Overview
MASR
TMGH
ORWE
HRHO
ETEL
prepared by: Mayada Amin- CETA, CFTe
1580 ตอน
Manage episode 439521189 series 2987212
เนื้อหาจัดทำโดย Al Ahly Pharos เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก Al Ahly Pharos หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal
Market Overview
MASR
TMGH
ORWE
HRHO
ETEL
prepared by: Mayada Amin- CETA, CFTe
1580 ตอน
ทุกตอน
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Al Ahly Pharos
The General Authority for Investment and Freezones is looking into setting up a freezone in Minya that would house textile projects from a Chinese investment alliance that is eyeing USD1.5 billion in initial investments. The Finance Ministry will launch an electronic tax system for clearing investors’ receivables and debts next month. Net foreign assets of the CBE were almost flat at EGP592.469 billion (c. USD11.7 billion) by the end of December 2024. The FRA issued a decree determining the minimum capital for insurance companies. The Authority obligates insurance companies to raise the minimum issued and paid-up capital in two stages over two years to reach EGP400 million in the first stage within one year, and in the second stage to EGP600 million by the end of the second year. NTRA is set to launch WiFi calling services in Egypt today. The new service will enable mobile phone users to make high-quality voice calls over internet connections, rather than via mobile networks. ESRS general assembly approved the issuance of corporate guarantees in favor of subsidiaries, sister companies, and related companies at a maximum of USD500 million or EGP equivalent. According to local media, HELI plans to develop a project on 25 feddans in New Heliopolis, with expected investment of EGP1.8-2.0 billion. The project is expected to generate sales of EGP4.0 billion. Social Impact Capital (SIC) will soon have increased its stake from 51.2% to 88.7% in CIRA . The additional 37.5% stake will officially transfer to SIC upon the completion of the Mandatory Tender Offer. Organi Group targets establishing a USD100 million chlorine pellets factory that will mark the Middle East’s first facility producing the swimming pool cleaner when it starts operations in 2025. The General Petroleum Company plans to drill 41 new oil and gas wells and repair or recomplete 39 others as part of its FY25/26 investment budget. MICH posted EGP314 million in 1H24/25 net profit, a 12% YoY growth, supported by a 14% YoY growth in revenue to EGP528 million in 1H24/25. Alamal Alsharif Plastics is expected to make its EGX debut through a direct listing in 2Q25. The listing will reportedly see the government-owned National Investment Bank divest its entire 29.5% stake in the company. Weekly Commodities Update | | Last Price | WoW Change, % | Brent, USD/bbl | 80.8 | 1.30% | Diesel-HSFO Spread, USD/ton | 302 | 8.60% | Egypt Urea, USD/ton | 431 | 1.70% | Polyethylene, USD/ton | 940 | 0.00% | Polypropylene, USD/ton | 953 | 0.00% | Iron Ore 65%, USD/ton | 122 | 1.10% | Steel/Iron Ore Spreads, USD/ton | 370 | -1.00% | LME Copper Cash Price, USD/ton | 9,082 | 1.00% | LME Aluminum Cash Price, USD/ton | 2,674 | 4.50% | Egyptia Retail Cement, EGP/ton | 2,847 | 0.00% | Steam Coal FOB Newcastle Australia, USD/ton | 117 | 3.30% | SMP, USD/MT | 2,682 | 0.00% | Last price may vary week over week in some indices due to time difference…
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Al Ahly Pharos
- Market Overview - CCAP - ALCN - OFH - SCEM - prepared by: Mayada Amin- CETA, CFTe
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Al Ahly Pharos
The CBE has released the Balance of Payment (BoP)'s performance report for 1QFY2024/25. The overall BoP recorded a deficit of USD991.2 million 1QFY 2024/25, as opposed to a surplus of c. USD230 million in the comparable period in the previous year. The current account deficit has surged by 110.5% YoY to USD5.9 billion in 1QFY2024/25 up from a deficit of 2.8 billion in 1QFY 2023/24, mainly fueled by a record-high trade deficit at USD14 billion, the highest trade deficit for a single quarter on our records which go back to 2001. The IMF and the WB have slashed Egypt's growth forecast for the current fiscal year and the upcoming fiscal year in their respective outlooks. The IMF now sees the economy growing at a 3.6% clip during the current fiscal year, down 0.5 percentage points from previous forecasts. The World Bank slashed this fiscal year’s growth forecast by 0.7 percentage points to 3.5%. The Cabinet approved the EGP30 billion initiative to support companies in priority industrial sectors during its weekly meeting last week. Egypt imported a record 981 mn cfd of natural gas from Israel last year, up 18.2% y-o-y, according to a report from industry publication Mees. Agricultural exports were up 15% y-o-y in 2024, increasing by 1.1 million tons on the year before to come in at 8.6 million tons, Agriculture Minister Alaa Farouk said. Egypt's 5-year CDS rates slid down to 5.35% from 5.96% on 14 January on the declaration of Gaza ceasefire agreement, as, if maintained, it is expected to have positive effect on external finances, including Suez Canal revenues as well as tourism in Sinai. The Ministry of Planning signed the terms of the executive agreement for the soft loan from Japan worth USD230 million to support the budget, empower the private sector, and diversify the economy. French yeast producer Lesaffre Egypt will receive the golden license for its EUR120 million yeast production and packaging facility to be set up in Beheria. Finnish food packaging manufacturer Huhtamaki secured the golden license for its EGP1.5 billion factory. EGCH inked a seven-year agreement with Saudi capital-backed Al Sharq Real Investment, under which the latter will operate and maintain an electric arc furnace for silico-manganese alloys production. ABUK's BoD approved proceeding with the second phase of the company's solar energy project and starting the procedures for tendering the installation of new solar energy stations in several locations within the company with a capacity of 2.5 to 3 MWp. The National Investment Bank is targeting to sell its 30% stake in Alamal Alsharif Plastics after listing the company's shares on EGX. Oil and gas companies have drilled 105 wells over the past six months. These wells — 95 oil and 10 natural gas — have added 63.7k bpd of oil and 271 million cfd of natural gas to the country’s daily local energy production, which will help the state save some USD1.5 billion in oil imports. Prime Minister expects Egypt to get back to importing natural gas by 2027. Chevron plans to invest USD150 million to drill a second exploratory well in the Mediterranean’s Nargis gas field next month. The company will get started on drilling the second well after completing and sealing the first well. Gas production is expected by late 2026. EFID acquired 49% of Baghdad-based snack maker Tuama Jebur Abbas (TJA) for USD8 million through a capital increase. The acquisition includes a factory equipped with three production lines, two for cakes and one for biscuits. This marks EFID’s first entry into the Iraqi market, with plans to invest around USD27 million over the next three years. Social Impact Capital’s acquisition of CIRA nears its close with 96.5% of targeted shares responding to the offer.…
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Al Ahly Pharos
- Market Overview - BTFH - SKPC - ABUK - EKHO - prepared by: Mayada Amin- CETA, CFTe
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Al Ahly Pharos
Organi Group is going to increasingly focus on expanding its presence in the automotive and tourism sectors over the next five years and invest USD1 bn in the two sectors by 2030. The Egyptian National Railways (ENR) has partnered with Italian rail construction and maintenance firm Salcef Group to form a new joint venture, Salcef Track, that will oversee the development, renewal, and maintenance of Egypt's railway infrastructure over the next 25 years. ExxonMobil Corporation announced a new discovery of natural gas off the coast of Egypt in the Mediterranean Sea. Katia & Bony, a Turkish textile firms whose parent company Bonysocks exports to global brands like H&M and Carrefour, will be launching sock manufacturing operations in Egypt with investments of USD50 mn. Ahmed Ezz, the main shareholder in ESRS , submitted a request to appeal against the exclusion of his shares and the shares of related parties from voting on the general assembly’s decisions related to the delisting of the stock from EGX. The result of the complaint will be announced on 22 January 2025. ESRS decided to self-finance the markup in the delisting price from the previously offered price of EGP120.00/share and the IFA fair value of EGP138.15/share. FRA is currently studying a new regulatory framework that would govern fractional investments in the real estate sector, with the authority currently in talks with real estate developers interested in adopting the approach. MASR signed a partnership with GTCI to construct energy and infrastructure projects worth more than EGP263 million in Taj City. Hazem Helal has been appointed CEO of O West, Makadi Heights, and Byoum by ORHD .…
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Al Ahly Pharos
- Market Overview - ABUK - MFPC - AMOC - SKPC - Prepared by: Mayada Amin- CETA, CFTe
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Al Ahly Pharos
Negotiations are currently underway to open branches of Egyptian universities overseas, with the efforts taking place within a push internationalize the higher education sector in Egypt and education service exports. The Egyptian Customs Authority (ECA) has begun procedures to release the roughly 30k vehicles currently stranded at the country’s ports that violated previous personal import or disabled-accessible vehicle import regulations, according to a document from the authority. Lawmakers gave the final sign-off to a government-drafted law that directs cash-based subsidies to citizens who fall below the poverty line and lack access to social ins. initiatives. MPs signed off on a EUR 135 mn grant from the European Investment Bank to support the Environment Ministry’s Sustainable Green Industry project, which will support the greening of the country's industrial sector by implementing climate change and environmental sustainability measures. Egypt's fuel imports amounted to c.USD15.5 billion in 2024, an increase of 26% YoY. According to a government official, petroleum products imports accounted for the largest share of the import bill last year, at a value of nearly USD10 billion. ESRS board of directors decided to continue the procedures for delisting its shares from the EGX, pending the general assembly’s approval. Objecting shareholders can sell their shares back to the company at the independent financial advisor’s fair value of EGP138.15/share. The Parliament greenlit the Finance Ministry guaranteeing EGAL's financial commitments with Norwegian renewables firm Scatec under a power purchasing agreement between the two. MBSC inked an EGP298 million agreement to build a solar power plant, at the company's facility in Beni Suef, in partnership with Chinese tech giant Huawei, Chinese solar module manufacturer Jinko Solar, and local renewables company Integrated Renewable & Sustainable Communities. The solar project will support the company’s efforts to power its industrial activities with renewables. ExxonMobil has found natural gas at its Mediterranean’s North Marakia offshore concession after drilling at the block began in mid-December. The size of the find has yet to be determined, but pre-drill estimates came in at around 3.5 trillion cubic feet, the report reads. Chemicals and Fertilizers Exports Council is asking for increasing export subsidy to a minimum of EGP50 billion, from EGP23 billion currently to be able to increase exports to EGP100 billion. Tasaheel micro finance issues sukuk with a value of EGP7 billion next month.…
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Al Ahly Pharos
- Market Overview - COMI - OFH - ABUK - EKHOA - ALCN prepared by: Mayada Amin- CETA, CFTe
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Al Ahly Pharos
The Finance Ministry is preparing to release the new public debt policy document by the end of March, which will outline its plans for public and foreign debt, including the issuance of green bonds, sukuk, and international bonds. The government is currently working on two parallel budgets, with the upcoming FY 2025-2026 budget being simultaneously developed alongside a comprehensive three-year budget that will establish longer-term spending caps that can only be exceeded under very limited circumstances. European glass fiber producers have filed a complaint to the European Commission alleging that Chinese glass fiber manufacturers based in Egypt have been benefiting from unfair subsidies and have managed to bypass anti-dumping duties directed at Chinese companies. The government is working on cutting customs clearance times down from eight days to just two, Investment Minister Hassan Al Khatib said. The government is working to replace the numerous non-tax financial burdens and fees imposed by state entities with an additional income tax, Investment Minister Hassan Al Khatib said, according to a ministry statement. The government will engage in negotiations with the European Union in April over the second tranche from its EUR 5 bn package of concessional loans. The government is now planning to up renewables’ contribution to the energy mix to 65% by 2040, according to comments by Electricity Minister Mahmoud Esmat. The average yield on two-year fixed coupon t-bonds fell 2.03 percentage points to 23.46% during the Central Bank of Egypt’s latest issuance that raised EGP 21.6 bn in the heavily oversubscribed issuance, according to data from the central bank. Three-year bonds fell 0.68% percentage points to an average yield of 22.58%. Tax revenues grew by 40% during the first 6 months of the current fiscal year, compared to the same period of the previous fiscal year, sources said A source in the Ministry of Petroleum revealed that Egypt seeks to resume exporting natural gas by the end of 2027. China's largest tire maker is planning to expand its Egypt operations, with China National Tire and Rubber Company looking to expand into passenger vehicle tire manufacturing in Egypt through its wholly-owned subsidiary Prometeon Tyre Egypt, according to a cabinet statement. QNBE 4Q24 consolidated net profit recorded EGP6.34 billion (+0% q/q, +71 y/y) bringing FY24 net profit to EGP26.40 billion (+63% y/y, and 6% higher than Al Ahly Pharos Estimates). The FRA approved HDBK ’s request to increase its authorized capital from EGP10 billion to EGP30 billion and paid-up capital from EGP5.31 billion to EGP10.6 billion, an increase of EGP5.31 billion distributed over 531.3 million shares by distributing a free share for each original share. OFH ’s board has greenlit selling its entire 99.0% stake in Klivvr Electronics to the Sawiris family-owned Klivvr Holding. For EGP11 per share, valuing the total transaction at some EGP657.7 mn. BDO Keys for Financial Consultancy, the Independent Financial Advisor (IFA), has concluded its fair value report associated with the delisting of ESRS (FV: EGP120.21, EW) shares. Kingdom Holdings inked an agreement with SWDY's subsidiary Elsewedy Industrial Development to develop a USD60 million textiles factory in its Industria Sadat zone in Sadat City. A local-international consortium of France’s Engie, ORAS (FV: EGP425.00, OW), Japan’s Toyota Tsusho, and Eurus Energy is looking to build a 1 GW wind project in Egypt, with the companies aiming to finalize the project’s contracts next year in order to build it by 2028. TMGH announced that Hisham Talaat Moustafa, CEO and Managing Director of the company, purchased 500,000 shares of the company's capital during last Sunday's session.…
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Al Ahly Pharos
Market Overview Prepared by Mayada Amin- CETA, CFTe
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Al Ahly Pharos
A new unified subsidy card system that will also be able to be done through your mobile system is on its way, cabinet spokesperson Mohamed El Homsani said. The unified card will not just provide access to food subsidies, but also cover health ins. coverage, and other services, according to El Homsani. Trial operations of the EGP 15 bn integrated tourist city in South Sinai’s St. Catherine will kick off in April or May, an unnamed source said. Foreign investors’ net purchases of Egyptian debt came in at EGP875 bn during 2024, split between EGP625 bn in short-term debt purchases and the remaining EGP 250 mn for long-term debt purchases, according to the EGX’s 2024 report. Egypt's wheat imports jumped to a 10-year high in 2024, reaching 14.2 million tons compared to 10.8 million tons in 2023, an increase of 31%, mainly due to the USD abundance in 2024 compared to the year before, in addition to the decline in average global wheat prices to USD240 per ton, compared to USD350 per ton in 2023. The Investment Authority intends to prepare a new draft law for companies as an alternative to Law No. 159 of 1981, to be suitable for the wide use and reliance on electronic documents, according to Hossam Heiba, CEO of the Authority. UAE-based Nas Investment Holding intends to submit a mandatory tender offer for an additional 57.5% stake, represented in 5.5 million shares, in EGX-listed fertilizers player EgyFert (SMFR) , the Financial Regulatory Authority (FRA) said. BP has completed the drilling of two gas production wells at the Raven natural gas field in its North Alexandria concession, with gas production expected to begin in February, according to an Oil Ministry statement. EGAS agreed with Eni to study establishing a fixed regasification unit in Damietta costing USD190 million. ENPPI and Petrojet alliance has been awarded a contract worth USD1.24 billion by Adnoc Gas for Ruwais LNG project. The FRA has issued a decision approving Arla Foods’ request to extend the deadline for submitting a potential mandatory tender offer for DOMT ’s shares by an additional 60 working days, starting from the original deadline of January 9. EFID will utilize its distribution network to distribute kiosk favorite Raw chips through a third-party distribution agreement with the kettle chip brand owner Prisma Food. According to local media, CIRA is branching out into the care economy with the launch of CIRA Care, a new arm focused on care economy services. The new venture will be set up with a capital of EGP60 mn and provide early childhood care, healthcare services, disability support, and elderly care services.…
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Al Ahly Pharos
- Market Overview - SKPC - AMOC - ABUK - OLFI - prepared by: Mayada Amin- CETA, CFTe
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Al Ahly Pharos
Egypt’s annual urban inflation rate fell to 24.1% YoY in December, as expected, from 25.5% in November, its lowest in two years. On a monthly basis, urban prices rose by 0.2% compared with 0.5% in November. Core inflation recorded 23.2% in December 2024, compared with 23.7% in November 2024, while monthly core inflation recorded 0.9% in December 2024, compared with 0.4% in November 2024. The government’s new social protection package will contain raises in the minimum wage, tax thresholds, social protection coverage, and pensions, two government sources said. The government is planning on raising the minimum wage for civil servants and workers at state-owned enterprises, and the Finance Ministry is looking into raising the personal income tax exemption threshold to EGP 65k — up from EGP 60k previously — while keeping other income brackets unchanged, sources said. EGX is looking forward to listening new 11 companies in 2025. An unnamed company real estate giant from the private sector will be joining the EGX this month, EGX boss Ahmed El Sheikh said. Egypt has secured enough energy supplies to ensure that the nation’s power plants can run at full capacity when the summer season approaches and demand jumps, Electricity Minister Mahmoud Esmat told Asharq Business. Madrid-based business process outsourcing (BPO) firm Konecta will kick off operations in Egypt, set up a regional HQ in the country, and invest USD100 mn in the country over the coming three years under an MoU inked with the Information Technology Industry Development Agency (ITIDA), according to a cabinet statement. ORAS announced the start of commercial operations of 306 MW at the newly expanded 650 MW Build-Own-Operate (BOO) wind farm in Ras Ghareb, Egypt, four months ahead of schedule and exceeding the contractual target by 56 MW. The remaining capacity is on track to be gradually connected to the national grid by Q32025, making the project the largest operational wind farm in the Middle East and Africa. Naguib Sawiris has transferred his entire 5.8% stake in ORAS to his brother Nassef Sawiris, as part of asset re-allocation among the family, and bringing the latter’s stake and entities held for his benefit in the firm up to 42.4%. The Sawiris family’s total ownership in ORAS remained unchanged at 54.9%. Social Impact Capital (SIC) amended its mandatory tender offer to acquire CIRA following the release of the company’s fair value study done by BDO Keys Financial Consulting which determined CIRA’s fair value at EGP17.95/share. In response, SIC raised its offer price to EGP15.50 per share, up from the previous EGP15.00. China’s Asia Potash International Investment announced plans to set up a phosphate fertilizer industrial complex in Upper Egypt, which is set to have a final investment ticket of USD7-10 billion, company representatives said during a meeting with General Authority for Investment and Freezones boss Hossam Heiba. Kuwait Energy is allocating USD43.8 million to complete exploration works during FY25/26. FRA announced PHAR’s capital increase’ (from EGP1.487 billion to EGP1.687 billion, an increase of EGP200 million) record date on 21st January 2025. Subscription period is set to start on 26 January 2025 to 24 February 2025. A Qatari-Egyptian consortium is studying the establishment of a steel factory in Qena governorate with initial investments of up to USD100 million.…
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Al Ahly Pharos
-Market Overview - EPCO - POUL - PHAR - CIRA - CCAP Prepared by: Mayada Amin - CETA, CFTe
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Al Ahly Pharos
Banque Misr is preparing to appoint an advisor for the offering of its subsidiary Banque du Caire. Emirates NBD is reportedly considering the acquisition of a controlling stake in BdC, as the bank is currently in the final stages of due diligence with the acquisition expected to go through in 1Q 2025. The government has its sights set on tackling the backlog of dues owed to exporters, with the Finance Ministry and the Investment Ministry announced a new mechanism to clear EGP60 bn in overdue payments to exporters. Sisi and his Greek counterpart discussed the two sides’ joint economic projects, including the 3-GW Greece-Egypt Interconnector (GREGY) led by Greek contractor Copelouzos Group and expanding regional energy cooperation. Prime Minister revealed the government's intention to announce new companies to be offered to the private sector during the current year, in addition to the 10 companies that were announced earlier. A government official revealed that Egypt has saved USD1 billion during the last quarter of 2024 compared to the previous year in the consumption of fuel used in generating electricity. Eni is working on increasing Zohr field production through operations in two to three wells with investments ranging from USD60-90 million, during the current year. The health of Egypt’s banking sector continued to improve throughout 9M2024, with the sector’s capital adequacy ratio (CAR) increasing 0.5 percentage points from the end of 2023 to clock in at 19.1% by the end of 3Q2024. HRHO announced the successful completion of its advisory role in the initial public offering (IPO) of 30% of the issued capital of Nice One Beauty. HRHO aims to inject new financing worth EGP5 billion during this year, including EGP2 billion in the first quarter, distributed between financial leasing and factoring activities.…
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