Podcasts about abdel fattah el sisi

VOV1 - Tổng thống Ai Cập Abdel-Fattah El-Sisi và Thủ tướng Hy Lạp Kyriakos Mitsotakis hôm qua đã ký tuyên bố Đối tác Chiến lược giữa hai nước. Tuyên bố này đánh dấu sự khởi đầu của một giai đoạn hợp tác chặt chẽ mới giữa hai nước trong nhiều lĩnh vực.

Prime Minister Mostafa Madbouly stated that the fifth review of the IMF loan program will start within few days, according to local press.              Egypt is committed to paying USD725 million to the IMF during the current month of May, and USD962 million in June, after paying USD1.56 billion during 4M2025.The Madbouly government expects to raise USD4-5 bn from selling stakes in 11 state-owned companies during the fiscal year 2025-2026, as a part of its privatization program.The government is putting together new incentive criteria and additional benefits for automakers participating in the Automotive Industry Development Program in a bid to boost local component rates to 65% from 45%. The revised incentive framework introduces a new methodology for calculating local component requirements and value-added metrics. The framework will be presented to Prime Minister Moustafa Madbouly before being submitted to President Abdel Fattah El Sisi for final approval.The cabinet approved the official rollout of the Universal Health Ins. System in Aswan starting 1 July 2025. As part of the plan, non-emergency medical services will be suspended for uninsured individuals beginning 1 January 2026.Egyptian Prime Minister Mostafa Madbouly said that Egypt is negotiating with Saudi Arabia on joint projects with the Egyptian private sector across different sectors.Egypt and Greece signed a strategic partnership yesterday during President Abdel Fattah El Sisi's visit to the country, according to an Ittihadiya statement. The two sides also inked agreements to boost cooperation in a number of fields.The Madbouly government increased Exxon Mobil's production share from the Masry and Cairo offshore concessions to 40%, up from 15%. The government also extended the concessions' cost recovery period to seven years from five to encourage the company to increase its investments in Egypt's energy sector.Thirty Egyptian companies are considering establishing new factories in Morocco in the coming period, to boost joint investments between the two countries.The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the economic outlook as the U.S. central bank grapples with the impact of Trump administration tariff policies.TMGH achieved impressive YTD sales of over EGP160.0 billion, up 127.0% y/y, driven by the launch of the second phase of SouthMed which generated sales of EGP70.0 billion in one day.AMOC released 3Q24/25 unaudited financial indicators. Net profit surged to EGP463 million (+18% YoY, +158% QoQ) in 3Q24/25. Over 9M24/25, net profit inclined 5% YoY to EGP1.1 billion. AMOC is currently trading at a FY24/25e PE of 10.7x.EGBE released key financial indicators with 1Q25 standalone bottom line recorded EGP781 million (+26% q/q, +45% y/y, and +14% higher than Al Ahly Pharos Estimates of EGP686 million). EGBE is currently trading at P/E25 of 2.6x and P/B25 of 0.6x. AGM approved the distribution of cash dividends of 0.59/share, which implies a payout ratio of 12% and DY of 3.7%.

Egypt will continue to rely on a flexible exchange rate regime as a first line of defense against global shocks, central bank Deputy Governor Ramy Aboul Naga said. Aboul Naga signaled that the central bank will cut interest rates when it's convinced inflation won't pick up again.The EGP continued to weaken against the USD in trading yesterday, slipping to fresh lows and ending the day at a selling price of around EGP 51.44-51.47 at public and private banks, marking the second consecutive day of an exodus of foreign investors from the local debt market.Egypt and France inked a strategic partnership agreement that will focus on areas including railway industry localization, technical and vocational training, AI, cybersecurity, and green hydrogen, President Abdel Fattah El Sisi said in a joint press conference with French President Emmanuel Macron.Thailand's Hi-Tech Apparel began construction on its USD 20 mn sportswear factory in the Qantara West Industrial Zone. The factory will have an annual production capacity of 6 million garments, which will be exported to markets including those in the Americas and Europe. It is expected to kick off production early next year.Energy giant Chevron will start surveying operations for the east Mediterranean seabed the upcoming summer, in preparation for the gas pipeline connecting the two countries, according to a statement from the Cypriot government.Net foreign reserves rose to USD 47.8 bn at the end of March 2025, marking a USD 363 mn increase from February, according to data from the Central Bank of Egypt (CBE).Egypt's population growth dropped to historic low in 1Q 2025, coming in at 1.3%, down from 1.4% during the same period last year and 1.6% for the quarter in 2023, according to a statement from the Health Ministry.Egypt signed nine financing agreements with the French Development Agency (AFD), totaling EUR262.3 million, as loans and grants, according to the Middle East News Agency.Hossam Heiba, Chair of the General Authority for Investment and Free Zones, said that ambitious targets have been set for the coming years, including attracting USD60 billion in foreign direct investment, raising the value of exports to USD145 billion, and working to achieve a private sector contribution of up to 65% of total investments by 2030.Foreign investors' net sales of treasuries in the secondary market amounted to approximately EGP26.34 billion, equivalent to c.USD511 million, since the beginning of this week, according to data from the Egyptian Stock Exchange.Egypt has reached an agreement with Germany to lease the gasification vessel "Energius Power" to receive liquefied natural gas (LNG) shipments for a period of five years, at USD80 million annually. The vessel's capacity is 500 million cubic feet of gas per day, and it is expected to arrive at the Sokhna port by next June.Al Arabiya revealed new details about Egypt's negotiations with foreign oil companies regarding the proposed increase in the purchase price of natural gas. A government official explained that the purchase price will rise from approximately USD2.7 per million British thermal units to more than USD4, and more than USD8 in deep offshore concession areas.EFID's general assembly approved distributing cash dividends of EGP1.14/share for FY24, to be distributed on two equal installments. This implies a payout ratio of 49% and dividend yield of 4.2%PHAR stated in an EGX release that the subscription coverage of the IPO second stage is 1.28x. The Company added that the allocation for subscribing shareholders in the second phase will be approximately 75.30%. HRHO is currently preparing 7 Gulf IPOs, 2 IPOs in Egypt and around 10 M&A transactions.

Oil Minister Karim Badawi met with CEO of US-based LNG solutions company Excelerate Energy Steven Kobos where they discussed leasing floating storage and regasification units to Egypt, sharing technical expertise, and LNG trade cooperation, according to a Ministry statement.A high-level investment delegation has received preliminary approval to visit Iraq, unnamed sources said. The Holding Company for Food Industries intends to list a number of its subsidiaries on the EGX in the coming period.Oil producer Capricorn Energy said it has reached a preliminary agreement with the EGPC to improve gas pricing to increase production, under terms aimed at boosting investment and production, along with updated commercial terms.British company BP seeks to increase gas production in Egypt by approximately 160 million cubic feet per day, from two wells in the King Mariout and Fayoum concession areas in the deep waters of the Mediterranean Sea, in 2H25.A government official said that the Ministry of Petroleum expects to receive four shipments of imported LNG during April. President Abdel Fattah El-Sisi approved a USD131 million loan agreement from the African Development Bank to help finance the first phase of the Private Sector Development and Economic Diversification Support Program, as part of the state budget support, according to a report published in the Official Gazette.SWDY reported steady 4Q24 results with attributable earnings coming in at EGP4.2 billion (+106% YoY, -13% QoQ). FY24 attributable earnings surged to EGP17.5 billion (+73% YoY). SWDY board of directors proposed a cash dividend distribution of EGP1.00/share, implying a payout ratio of 12.3% and a dividend yield of 1.2%. SWDY is trading at FY25e P/E of 9.7x and EV/EBITDA of 5.5x.EGAL signed a 25-year USD-denominated corporate Power Purchase Agreement with Scatec for a 1.1 GW solar plant and 200MWh battery energy storage system in Naga Hammadi backed by a sovereign guarantee. Scatec targets to reach financial close and start construction within the next 12 months. We expect the new plant to save around 10-15% of the company's electricity cost which could contribute to increasing our FV by EGP20.00/share to EGP175.00/share. We remind you that electricity represents more than 40% of production costs and EGAL's gross margin shrinks by 2-3% for every EGP0.25/kWh increase in electricity tariff, according to our calculations.CIEB lowered its proposed 2024 dividend payout to EGP3.20/share, representing 50.2% of distributable profits, down from a previously planned EGP3.82/share, or 60% of distributable profits, according to a Board decision. The payout remains subject to the general assembly's approval.OLFI is to distribute cash dividends of EGP2.00/share for FY24 on 27 March 2025, for shareholders on record on 24 March 2025, implying a DY of 10.4%.EFID's BoD is considering the approval of doubling the company's capital to EGP280 million. The proposed capital increase of EGP140 million will be distributed on 700 million shares and financed through the company's retained earnings of FY23. 

VOV1 - Thủ tướng Ai Cập Mostafa Madbouly hôm qua (25/2) cho biết, Tổng thống Abdel Fattah El-Sisi đã phê duyệt ngày khánh thành chính thức của Đại bảo tàng Ai Cập (GEM), dự kiến ​​vào ngày 3/7/2025.

*Key news articles for today* The Finance Ministry is set to reduce penalties for late tax payments by up to 90% as part of its larger tax relief package, in a move that aims to resolve thousands of disputes resulting from delayed tax return submissions or filing returns without paying the due tax. The countdown to the Grand Egyptian Museum's official opening is on 3 July launch after President Abdel Fattah El Sisi approved the date.The government sent a high-level delegation to Rabat earlier this week to push for the removal of recent restrictions that have left Egyptian exports piling in Morocco's ports for two weeks.Egypt and the UAE kicked off talks for a Comprehensive Economic Partnership Agreement, to strengthen trade, investment, industry, energy, and infrastructure collaboration.The government is negotiating with the countries of origin to import wheat under the equal deals system, in an attempt to secure its grain stock and relieve pressure on the dollar at present.The government paid about EGP6 billion in compensation for the Ras El-Hikma area, as part of the compensation and removal plan for the area.The House of Representatives approved in principle the draft labor law submitted by the government, during a session while discussing the report of the Manpower Committee on the draft.The government is studying amending the real estate tax law, and the Real Estate Tax Authority has submitted a proposal to raise the tax exemption limit for residential units, which currently stands at about EGP2 million, in light of rising real estate prices and increasing inflation rates. A source said that the limit might be raised to EGP3 - 4 million.Eroglu Garment, a subsidiary of Turkish clothing manufacturer Eroglu Holding, is investing some USD120 mn in a new integrated garment factory in the Qantara West Industrial Zone.UAE's Dana Gas has set a plan to invest around USD100 million in Egypt, including drilling 11 wells over the next two years, according to the company's head of investor relations.ISPH issued positive 4Q24 results where bottom line amounted to EGP208 million that is up by 12.5% QoQ and 4.3x YoY. On an full year basis, 2024 bottom line came in at EGP615 million that is up by 1.9x YoY. ISPH in trading at 2025 multiples of P/E of 8.9x.EGCH released 2Q24/25 unaudited financial indicators posting a significantly enhanced bottom line of EGP772 million, compared to EGP163 million in comparative quarter and only EGP38 million in previous quarter, which included EGP173 million in real estate revaluation gains. EGCH is currently trading at a 2024/2025e PE of 29.1x.United Bank (UBEE) 2024 net income after tax jumped 63% y/y, to record EGP 2.8 bn.CNFN has formed a strategic partnership with Auto Mobility, the official Geely agent, to offer full insurance solutions tailored for Geely vehicle owners. Egypt's financial inclusion rate, the percentage of citizens above the age of 15 who hold bank accounts, mobile wallets, or prepaid cards, jumped to 74.8% by the end of 2024 up from 71% at the end of 2023.OCDI Board approved merging seven of the company's subsidiaries, with authorized capital of the company post-merger amounting to EGP25.0 billion and paid-in capital amounting to EGP5.2 billion distributed on 1.3 billion shares. 

(00:45) Gekozen president Venezuela wacht arrestatie De Venezolaanse regering heeft 100.000 dollar uitgeloofd voor de tip die kan leiden tot de arrestatie van Edmundo González. González won in juli de presidentsverkiezingen, maar is nooit erkend door de zittende president Maduro. Hij vluchtte in september naar Spanje maar wilde juist komende week terugkeren naar Venezuela. In de studio collega en Venezuela-kenner Edwin Koopman.  (11:42) Egyptes strengste asielbeleid ooit Als het aan president Abdel Fattah El-Sisi ligt, krijgt zijn land het strengste asielbeleid ooit. Hij zette zijn handtekening onder een nieuwe wet die alle asielzaken uit handen van de VN trekt. Volgens mensenrechtenorganisaties ondergraaft de wet de positie van vluchtelingen, en dat terwijl de wet mede tot stand kwam onder druk van de Europese Unie. Daarover Egypte-correspondent Ruth Vandewalle.  Presentatie: Chris Kijne

Wataneya and Safi are named as among the up-to-four military companies to be offered up on the EGX, unnamed sources said. The National Service Products Organization-owned filling station operator and bottled water company are reportedly currently being reevaluated ahead of a listing scheduled for 1Q25. The EGP fell to its lowest level on Thursday since March's exchange rate liberalization, passing the EGP50.00 mark against the greenback.Egypt is to lease a second LNG floating regasification unit starting 2H25, following an agreement to lease a unit between US-based New Fortress Energy and Egyptian Natural Gas Holding Company (EGAS).The CBE sold only 6.2% of its target for year-long USD-denominated bills and 18.0% of its six-month bills as investors demanded higher interest rates during the bank's most recent auction on Thursday. US energy giant Exxon Mobil will start drilling a new offshore gas exploration well in the North Marakia concession in the western Mediterranean on 15 December, according to a statement from the Oil Ministry.The CBE gave the green light to a number of banks to start accepting Egypt-bound remittances from abroad through the Central Bank's payment platform Instapay, the bank said in a statement.The World Bank said that it had reached an agreement with the Egyptian government to extend the program to support the comprehensive health insurance system until September 2026, instead of October 2024. President Abdel Fattah El Sisi and Danish King Frederick X launched the Egypt-Denmark Business Council, which will serve as a “gateway for Danish economic and commercial bodies to explore investment opportunities in Egypt,” namely in the infrastructure, ICT, renewable energy, and transformative industries sectors.Egypt Post acquired EGP8.9 billion in shares owned by the National Investment Bank in seven EGX-listed companies, Asharq Business reports citing an informed government source. The shares were purchased from EAST, ABUK, ALCN, MFPC, EKHO, AMOC, and SKPC.The Finance Ministry will launch public consultations on its tax policy document in the first quarter of the next fiscal year, according to a statement by the Ministry. The General Authority for Supply Commodities (GASC) has been reportedly replaced by the Mostakbal Misr Agency for Sustainable Development of the Egyptian Armed Forces. Mostakbal Misr will “assume all jurisdictions previously held by GASC,” according to a letter from the Supply Ministry to Russia's Minister of Agriculture seen by Reuters.ETEL, alongside other mobile network operators, announced increasing the price of home internet packages and mobile packages by around 31-32%.ABUK has decided to replace part of the natural gas used in its ammonia production facility with 50 tons a day of green hydrogen, according to an EGX disclosure. The 12-month project is also expected to up production 100 tons to 1.2k tons a day. SUGR cash dividends of EGP5.00/share will be paid out in two equal installments, with the first to be paid on 26 December 2024 and the second on 22 January 2025. The record date is on 23 December 2024.DOMT has submitted documents to reduce the company's authorized capital to EGP282.6 million down from EGP500 million.BTFH is planning an issuance of securitization bonds with a value of EGP3 billion in 2025.

Pitch: Egypt Banking Sector| Rerating Is a MustThe Egyptian banking sector is poised for remarkable performance as we approach the release of third-quarter results for 2024. The combination of anticipated extraordinary results amid high interest rates and the compelling valuation metrics makes the Egyptian banking sector a prime candidate for investment. Our top picks for the sector are: ADIB (FV: EGP80.00, OW) and COMI (FV: EGP130.00, OW)The Madbouly government has reportedly asked the International Monetary Fund for an extension on the timeline for the implementation of economic reforms that were agreed upon as part of our loan program, an anonymous government official told CNN Business Arabic.The government is currently studying offers from local and foreign investors to build hospitals on ten plots of land across the country.The Planning Ministry is set to launch a national multidimensional poverty index without providing a timeline.A number of land freight service providers raised shipping rates by 20% over the weekend in line with the recent fuel price hike. The Ministry of Investment and Foreign Trade is considering postponing the implementation of a 15% increase in the usufruct fee collected from free zone companies for a year starting from January 2025.The government is looking to increase the contribution rates of free zone projects to Egypt's total exports by no less than 40% during the coming year.The government is planning to establish a cargo city, dubbed Cairo Cargo City, that will double the volume of goods transported.The heads of Brics nations, including President Abdel Fattah El Sisi, are in the Russian city of Kazan for the three-day Brics Summit to discuss economic cooperation, trade, and global governance.HELI Board approved a EGP667.5 million capital increase through the distribution of 2:1 stock dividends. ESRS submitted to EGX the documents needed to decrease its issued and paid-in capital by EGP4.55 million to reach EGP2.711 billion through cancelling 0.91 million treasury shares at a par value of EGP5/share. Raya Distribution, a subsidiary of RAYA, inked a partnership agreement with Italian appliance company De'Longhi Group, the owner of the De'Longhi, Kenwood, and Braun brands, to become the exclusive agent and official distributor for Kenwood's built-in kitchen appliances in Egypt.Raya Food's parent company, RAYA, will direct USD20 mn of Helios Investment Partners' USD40 mn bid for 49% of the subsidiary towards building a second factory partly dedicated to freeze-dried fruits and vegetables.ORWE has denied in an EGX release having any potential acquisition offer for its shares at the current time.The cabinet released a statement denying the existence of any car import quotas set by the government. This came in response to media reports claiming that the government plans to reduce the monthly car import quota from 10K to 8K units.BTFH subsidiary Beltone Leasing and Factoring has closed its first securitized bond issuance, raising some EGP1.3 billion. TBeltone Financial Holding and Italy's CRIF Ratings were chosen by the Financial Regulatory Authority to set up the country's second credit rating agency. SUGR's Chairman and Managing Director Ahmed Abdel Hafez submitted his resignation.US oil producer Apache plans to increase its daily natural gas production 11% to 500 million cf and invest some USD1.3 billion on its production of crude oil, through its JV with EGPC Khalda Petroleum, during the current fiscal year. Chemical Industries Holding Company (CIHC) is reportedly looking to appoint an investment bank to manage the listing of Sinai Manganese, Al Borsa reports. 

 President Abdel Fattah El Sisi pointed to the economic pressures the nation is enduring as the country undergoes reforms as part of its loan agreement with the IMF. “If this challenge forces me to place unbearable pressure on the public, we must review the situation with the IMF,” El Sisi said.Finance ministers, central bank governors, and other big names in the worlds of finance and policy are in Washington DC for the International Monetary Fund and World Bank Group Annual Meetings that run until Saturday.Japanese real estate mogul and Titan Capital owner Kanazawa Kiyokyo is considering moving a portion of his USD8 billion in investments to the Egyptian market, he said during a meeting with the Housing Minister.The Housing Ministry has published new income limits for low- and middle-income citizens wishing to apply for subsidized housing under the new offering by Social Housing and Mortgage Finance Support Fund.The cost of the interest subsidy initiative for tourism company loans is estimated at EGP3.5 billion annually, government sources said.Helios Investment Partners fund plans to invest about USD250 million in Egypt during the coming period.The Egyptian government intends to reduce the cap on car imports by about 20% starting this month to 8,000 cars per month instead of the 10,000 cars set last June.The Egyptian arm of Polish grain silo company Feerum has reportedly pulled out of an agreement to set up a factory to manufacture grain silos with with Egyptian construction and engineering firm Samcrete and the state-owned Egyptian Holding Company for Silos and Storage.The government reportedly plans to launch a tender to purchase 20 LNG cargoes during 1Q25. DOMT BoD has given the greenlight for Arla Foods to begin its due diligence process. According to local media, DOMT has invested EGP150 million this year to expand its bakery business and seize new export opportunities. The company plans to invest another EGP200 million in 2025 to purchase a new plot of land for expansion and to increase its production capacity.Moroccan Ministry of Industry and Trade announced yesterday the start of an investigation to combat dumping imports of CR steel that are coming from Egypt, after a complaint submitted by the sole flat steel producer Maghreb Steel, claiming that Egyptian imports are sold in the Moroccan market at unfair prices.RAYA gave the preliminary greenlight to Helios Investment Partners' acquisition bid to acquire 49% of Raya Foods for USD40 million.RAYA's automotive unit Raya Auto plans to invest over EGP300 million in EVs over the next three years.Weekly Commodities Update  |   | Last Price | WoW Change, % | Brent, USD/bbl | 73.1 | -7.6% | Diesel-HSFO Spread, USD/ton | 184 | -18.0% | Egypt Urea, USD/ton | 406 | 0.0% | Polyethylene, USD/ton | 980 | 0.0% | Polypropylene, USD/ton | 970 | 2.7% | Iron Ore 65%, USD/ton | 118 | -6.5% | Steel/Iron Ore Spreads, USD/ton | 419 | 1.0% | LME Copper Cash Price, USD/ton | 9,503 | -1.5% | LME Aluminum Cash Price, USD/ton | 2,579 | -1.3% | Egyptia Retail Cement, EGP/ton | 2,763 | 0.0% | Steam Coal FOB Newcastle Australia, USD/ton | 145 | -0.9% | SMP, USD/MT | 2,745 | -1.8% | Last price may vary week over week in some indices due to time difference

President Abdel Fattah El Sisi yesterday inaugurated the country's newest and largest railway station, Giza's Bashteel Station.The CBE's MPC is scheduled to meet on Thursday, 17 October. We expect the CBE to prefer to hold rates unchanged in its upcoming meeting.The Suez Canal Authority has rolled out fresh incentives and facilities for yachts passing through the waterway in a bid to promote yacht and marine tourism along the Red Sea coast — effective 1 November.Russia is pushing for the nine-member bloc that includes Egypt to adopt changes to how local currency transactions are made between member nations to bypass the world's dominant financial systems. The IMF is slashing surcharges - additional fees imposed on countries that borrow beyond their quota or delay loan repayments — by 36% on average starting 1 November. The Grand Egyptian Museum is to launch partial trial operations on Wednesday ahead of grand opening, Prime Minister Moustafa Madbouly said in a televised statement. The General Authority for Investment and Freezones (GAFI) will set up five more freezones under the special freezones system in response to investor demand.State-owned Egyptian Company for Natural Gas Distribution — more commonly known as Town Gas — signed contracts with Romania's Cis Gaz to manage linking natural gas distribution grids in Romania.The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) signed an agreement with Romania's Economy, Entrepreneurship, and Tourism Ministry to enhance cooperation in SME development, focusing on sectors such as agriculture, textile, and technology.Egypt is expected to launch trial operations of the first phase of its USD1.8 billion Egypt-Saudi interconnection project in April 2025 instead of May. The Arab Organization for Industrialization (AOI) is close to producing batteries for electric vehicles, Al Borsa writes, citing the Chairman of AOI's Kader Factory Amr Abdel Aziz.Pharos Energy revealed that it received USD20 million of its arrears in Egypt during the 1H24.According to local media, GBCO's NBFS arm GB Capital is reportedly looking to secure its license to promote and cover subscriptions from the Financial Regulatory Authority as part of its efforts to become an investment bank.HRHO's leasing and factoring arm is considering issuing securitization bonds with a total value of up to EGP2.0 billion next year.Garawany Group subsidiary International Steel Industry is looking to invest EGP5.5 billion to upgrade and expand state-owned Delta Steel through a nine-year lease agreement, according to the Group's CEO. Suez Canal shipping volume witnessed a 70% YoY decline in 3Q24.

Egypt's total public debt declined by about 2.1% during the last quarter of FY23/24 to EGP12.52 trillion.The European Bank for Reconstruction and Development (EBRD) raised Egypt's growth forecast for 2025 to 4.5% from 4.4%.The Central Bank of Egypt intends to launch a version for commercial transactions via InstaPay for transactions between individuals and merchants.The Ministry of Transport has begun talks with international financing institutions to obtain financing of up to USD300 million to finance the extension of the third metro line to Cairo International Airport.President Abdel Fattah El Sisi has directed the government to scrap the construction licensing requirements put forward in 2021 and reinstate the full provisions of the 2008 Building Law and its executive regulations. The decision will ease barriers to accessing building permits and support and energize the construction sector in the process, Qasem added. EAST's general assembly approved cash dividends of EGP2.7/share for FY23/24, implying dividend payout ratio of 88.2% and dividend yield of 10.4%.POUL's general assembly approved cash dividends of EGP0.85/share for FY23, implying dividend payout ratio of 28.0% and dividend yield of 8.1%.ABUK's general assembly approved distributing cash dividends of EGP7.5/share over three installments, implying a dividend yield of 12.2%. CIRA's BoD approved cash dividends of EGP0.26/share for FY23, pending general assembly's decision on 15 October 2024. This implies dividend payout ratio of 120% and dividend yield of 1.9%. RMDA (FV: EGP3.97, OW) achieved strong sales in August 2024, with a YoY increase of 73% compared to the average pharmaceutical market YoY increase of 45%. Volume increased by 20% YoY. This assures our positive outlook for 3Q24 results. According to local media, MASR (FV: EGP5.24, OW) is taking out a EGP9.0 billion loan.

*Key news articles for today* The government raised electricity prices in Egypt by rates ranging between 14% and 39% for domestic use. The new increases in electricity chip prices actually took effect 3 days ago. The commercial and industrial sectors will also see price hikes, reportedly ranging from 23.5-46% and 21.2-31%, respectively, from the beginning September.President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the acting governor of the Central Bank of Egypt for another one-year term, according to a decree published in the Official GazetteThe Supply Ministry will halt the distribution of additional quantities of subsidized sugar via ration cards from the beginning of September, reverting to the standard two-kilogram allocation in a bid to prevent additional sugar from reaching the black market.The ministry is also considering raising the price of sugar on ration cards, Minister said, adding that it is difficult to continue offering sugar at the price of EGP12.60 per kg.The ministry is studying a proposal to sell subsidized bread by weight instead of the current system of five loaves per person a day.The government will announce the purchase of 3.8 mn tons of wheat before the end of the year. GASC is looking into importing wheat from Turkey and is exploring other sources.The Russian company Transmash is considering launching a maintenance workshop in the Abu Zaabal area of the Railway Authority, with investments of USS300 million.Electricity tariff for energy-intensive industries reportedly increased to EGP1.60 per kWh up from the previous rate of EGP1.32 per kWh. EGAL is affected the most with any change in electricity price, where electricity alone constitutes around 40% of its production costs. EGAL's gross margin shrinks by c. 5% for every EGP0.25/kWh increase in electricity tariff. We remind you that we already incorporate an annual electricity tariff increase of c. 20% starting 2025 into our models. ETEL intends to borrow USD150 million in two months to restructure its debts and lengthen its tenors.AMOC's BoD proposed distributing a cash dividend worth EGP0.7/share for FY23/24, implying a dividend yield of 7.4%. More meds price hikes are in the pipeline where some 1.6k pharma products will be subject to price hikes between September and end of 2025. Companies could receive the greenlight to hike the prices of some 600 types of meds before the end of the year.EXPA is set to launch a digital platform for small- and medium-sized exporters next October. The platform will connect exporters with international importersBINV Managing Director Abdel Monem Omran has been appointed chairman of OFH and BINV Board Member Mostafa El Anwar was appointed his deputy. 

TEMP CHECK 7:00 - Let's break down Australian B-girl, Raygun's....interesting performance in breakdancing, including her signature boomerang moves. 12:45 - Five days after gymnast Jordan Chiles won the bronze medal in the individual floor competition, the IOC sided with a challenge from Romania and wants Chiles to give back the medal. Will Chiles return the medal with a frowny face note? Or will the US counter challenge be successful? MAIN NEWS 19:15 - Sometimes it seems like folks are so creative in their hate, but in fact, no, they aren't. They're simply repeating the decades old talking points, ideology and strategies of olde. Today we dissect the John Birch Society. Founded in 1958 by a man who did not trust outsiders and shares Donald Trump's fear of being poisoned. (In addition to being the creator of the Sugar Daddies candy) 33:00 - Is Mr. Beast, famous YouTuber, running a real life Squid Games? There are some allegations around his reality TV show's inhumane practices including withholding clean clothes, water, and proper medical attention. 38:45 - New reporting on Donald Trump's $10M windfall in 2016 from Egyptian dictator Abdel Fattah El-Sisi, and what he did for Egypt in return. And you'll never guess who shut down the FBI investigation into it two years later. DOWN BALLOT ERA 44:30 - Dissecting Cori Bush's primary loss to Wesley Bell, and how she was defeated by a mix of AIPAC funding and messaging that effectively painted her as someone more concerned with foreign policy than district issues. Today is also Ilhan Omar's primary race against Don Samuels, who she defeated in the 2022 primary by just 2 points. Samuel's campaign looks a lot like Bell's, but without the support from AIPAC, but he's also highlighting Omar's husband's...interesting business practices and questionable income. Learn more about your ad choices. Visit megaphone.fm/adchoices

*Key news articles for today*Egypt's external debt has decreased by 8.43% after hitting USD153.86 billion at the end of May 2024 compared to USD168.03 billion at the end of December 2023. This is mainly attributed to the waiver of UAE's deposits in the CBE, amounting to USD11 billion.Egypt's expected external debt obligations in May during the 12 months ending in May 2025 declined by about 16.7% to USD37.5 billion, compared to April's position at USD45 billion.Egypt's foreign reserves can now cover around 7.9 months of merchandise imports, “greatly exceeding internationally recognized safe levels,” a CBE source said.US oil giant Apache has plans to expand its operations in Egypt, and boosting production over the coming period.Energy consumption reached its highest level ever on Sunday at around 165 mn cubic meters of fuel equivalent, the Oil Ministry said.Egypt's wheat imports jumped 34% y-o-y in the first six and half months of 2024, rising to 7.5 mn tons, with private sector imports leading the increase.The World Bank will discuss in September approving two programs, one of which is worth USD300 million to support the competitiveness of SMEs, and the other, worth USD250 million, for the climate-resilient agriculture program, in addition to USD500 million for the state companies reform program, which will be discussed in November.The Chairman of the EGX revealed that work is being done to complete the registration procedures for 11 new companies, which are planned to be listed before the end of this year, 8 of which are in the main market and 3 in the small and medium enterprises market “NileX”.Lotus for Agricultural Investments and Development has moved from the EGX's small and medium enterprises market to the main market.OLFI reported outstanding 2Q24 financial results, showing:o                 Record high net profit of EGP266 million, bringing 1H24 bottom-line to EGP 422.9 million (+99.3% YoY), on the back of the trickling down of an outstanding gross profitability in addition to FX gains of EGP30 million. This increase came despite a hike in interest expenses.o                 OLFI is currently trading at a 2024f P/E of 5.3x.OLFI aims to expand into new markets, especially Russia, England, and America, during the year, additional to their current 25 export markets. Also, the company has contracted to purchase a machine for manufacturing processed cheese, to begin production early next year. In addition, the Obour Farm is still in the construction phase and expected to begin production early 2025.MASR signed a co-development agreement with Midar for Investment and Urban Development to co-develop a 1.0 million sqm land plot in Mostakbal City in East Cairo on a revenue-share basis, with MASR entitled to 62% of revenue as the developer and Midar entitled to 38% of revenue as the land owner. PHDC and Arco are co-developing Arco's 0.2 million sqm land plot in West Cairo on a revenue-share basis, with PHDC entitled to 65% of revenue.Al Ahly CIRA, has received the greenlight from President Abdel Fattah El Sisi to commence operations at the Saxony Egypt University of Applied Sciences and Technology (SEU). Egyptian companies are racing against time for rapid transformation of ammonia production via green hydrogen and clean energy, after one of the local entities acquired export contracts for green ammonia to European market worth EUR397 million which indicates an increasing European demand.Marriott and Reliance Egypt's hospitality arm, Reliance Ventures, are partnering up to repurpose part of downtown's Lazoghly complex, formerly the offices of the Interior Ministry, into a Moxy Hotel. The hotel is set to open in 2029.

The IMF is in discussions with the new cabinet over its policy and goals for the coming three years, these talks should wrap up next week. The Oil Ministry is set to receive two LNG shipments within the coming ten days.Suez Canal revenues fell 23% y-o-y during the fiscal year 2023-2024 to record USD7.2 bn.Egypt and Saudi Arabia have completed 60% of the electrical interconnection project between the two countries, and the first phase of operation is scheduled to begin in July 2025, at a cost of USD1.8 bn.The real estate tax revenues from buildings recorded EGP7.0 bn during 2023/24, compared to EGP5.9 bn in 2022/23.Some 73k families were added to the Takaful and Karama social safety program in July. The program currently includes around 5.2 mn families — 21 mn citizens.ETEL announced a new partnership with Nokia to bring 5G technology to Egypt. Deployment will take place later this year.MOIL posted its consolidated financial results for the year ended 31 March 2024 with net profit more than doubled to USD20.4 million up from USD8.1 million a year ago. Informed sources expect the government to move the price of subsidized fertilizers, early next year, to range between 8-10k per ton up from the current 5k per ton. ALCN will carry out a three-phase development plan put forward by a global consultant to help it improve operations and increase competitiveness. The development plan will take place over the course of five years.GBCO, Nissan and General Motors have registered in the National Automotive Industry Development Program (AIDP), which is scheduled to be implemented during the upcoming period.President Abdel Fattah El Sisi has given the final approval for the Unified Insurance Law, which will draw up new, comprehensive rules for regulating the insurance industry and widen compulsory coverage. 

*Key news articles for today*The World Bank has announced that it will be providing Egypt with USD700 mn. The funding comes as part of a three-year USD6 bn financing package from the bank that was announced in March.The government announced that it will carry on extending load-shedding for an “extra hour” until the end of the week.The EGP weakened against the greenback to its lowest level since 21 April by the time banks closed yesterday, with the national currency settling at EGP 48.37 at the Central Bank of Egypt and other local lenders.French glass and building materials manufacturer Saint-Gobain has filed a proposal to set up a new USD40 mn glass factory in the Sadat City.The Korean Economic Development Cooperation Fund made available USD100 million financing with a 20-year term, including a 5-year grace period, at an interest rate of 1.5%.The Egyptian-European Investment Conference will kick off in Cairo next Saturday for two days, and is expected to witness the conclusion of a number of investment deals and memorandums of understanding.ADIB's 1:5 bonus shares record date is 10 July, 2024 while distribution date is 11 July, 2024.COMI will reduce its FX markup fees and increase local and international transaction limits for credit cards, effective as of tomorrow.According to Fitch, foreign currency inflows and exchange rate stability following the float of the EGP in March and the country securing some USD57 bn in financing in 2024 have improved the forecasts for Egypt's banking sector. Fitch expects banks to direct the uptick in inflows towards those importing non-essential goods and tackle any import backlogs, in addition to making arrear payments to oil companies and increase FX lending to companies. Lastly, Fitch believes that the EGP float will have a limited impact on the balance sheets and capital position of Egyptian banks as the sector is able to absorb the rise of the USD against the EGP by about 35%.ETEL and Post for Investment are studying the acquisition of a 100% stake of Egypt Trust. OLFI aims to pump investments worth no less than EGP350 million during 2024 to expand dairy production capabilities and establish a new processed cheese factory. Also, the company seeks to double its export revenues during the current year to reach USD40 million compared to around USD20 million achieved last year.Friday Food Industries Company intends to list part of its shares on the Egyptian Stock Exchange by the end of 2026, following the completion of their project for the largest ice cream factory in the Middle East.President Abdel Fattah El Sisi on Sunday ratified a bill allowing private entities to set up, manage, and operate healthcare facilities and public hospitals for a period of 3-15 years, according to the Official Gazette. OCDI is planning to open its commercial project, EDNC, located in Eastown in East Cairo, in September 2024.CCAP's MD, Hisham Alkhazendar, declared that the stake of Citadel Capital Partners - the principal shareholder- will not exceed 33%, up from 23.49% before the debt purchase deal. The government's digital customs window Nafeza has been non-operational for more than a month and a half, resulting in a backlog of 8k-9k imported cars stuck at the country's ports, which is creating a shortage of vehicles in the market and pushing car prices up.

 - Hôm nay (2/4), Tổng thống Ai Cập Abdel Fattah El Sisi tuyên thệ nhậm chức nhiệm kỳ 3 trước Quốc hội. Chủ đề : Tổng thống, Ai Cập --- Support this podcast: https://podcasters.spotify.com/pod/show/vov1tintuc/support

 - Sau khi nhận được 89,6% phiếu bầu trong cuộc bầu cử tổng thống vào tháng 12/2023, Tổng thống đương nhiệm Abdel Fattah El-Sisi dự kiến sẽ tuyên thệ nhậm chức vào ngày 02/4 tới tại Hạ viện Ai Cập. Chủ đề : Tổng thống, Ai Cập --- Support this podcast: https://podcasters.spotify.com/pod/show/vov1tintuc/support

O presidente Lula já está no Egito E tem agenda marcada com o presidente Abdel Fattah El-Sisi, no Cairo. Também está prevista uma possível visita à Liga Árabe, grupo de países árabes que tem sua sede no Cairo.Acompanhe O Antagonista no canal do WhatsApp. Boletins diários, conteúdos exclusivos em vídeo... e muito mais. Link do canal: https://whatsapp.com/channel/0029Va2SurQHLHQbI5yJN344 Ser Antagonista é fiscalizar o poder. Aqui você encontra os bastidores do poder e análises exclusivas. Apoie o jornalismo independente assinando O Antagonista | Crusoé: https://hubs.li/Q02b4j8C0 Não fique desatualizado, receba as principais notícias do dia em primeira mão se inscreva na nossa newsletter diária: https://bit.ly/newsletter-oa Leia mais em www.oantagonista.com.br | www.crusoe.com.br

Join Jim and Greg as they break down many aspects of what may be one of the most damaging days to Joe Biden's presidency.First, they begin with the news that Special Counsel Robert Hur is recommending no charges against Biden despite his conclusion that Biden "willfully retained and disclosed classified material.” But Biden's day got much worse very fast when Hur said one of the reasons there would be no charges is because a jury would likely see Biden as "a sympathetic, well-meaning, elderly man with a poor memory," who could not remember when exactly he was vice president or when his son, Beau, died. That left the Biden team crowing about the absence of charges but denouncing one the of the key arguments about why there should be no charges.Then they break down the disastrous Biden press conference, in which he denied disclosing any classified material, blamed any improper storage of classified documents on his staff, and then wrongly said Abdel Fattah El-Sisi was president of Mexico instead of Egypt.Finally, they shake their heads at assertions that the reporters at the press conference were behaving in an "awful" and "revolting" manner and wonder what Biden's communications team was thinking setting up this press conference in the first place.Please visit our great sponsors:4Patriothttps://4Patriots.com/martiniStay connected with the Patriot Power Solar Generator 2000X on sale now.

In the 5 AM: Larry O'Connor and Julie Gunlock discussed: Speaker Mike Johnson on X: "This immigration bill is dead on arrival in the House. We will not pass immigration legislation that further incentivizes illegal immigration, does not reform asylum and parole in a meaningful way, and empowers President Biden and his cabinet, Senate Republicans weigh tanking Wednesday border deal vote Maj. Gen. Patrick Ryder says no Iranians were killed in the strikes against Iran-backed targets in Iraq and Syria. This is Biden's "deterrence" strategy, after waiting days to retaliate for the deaths of three U.S. heroes — then telegraphing the strikes ahead of time US Secretary of State Antony Blinken arrived in Egypt on Tuesday to meet with Egyptian president President Abdel Fattah El-Sisi. It is the second stop on Blinken's Middle East tour as the US seeks to advance an Israel-Hamas hostage deal, get more aid into Gaza and ensure the war doesn't escalate regionally. Joe Biden Reportedly Calls Benjamin Netanyahu 'A Bad F**king Guy' David Frum on X: "Trump wants Russia to win, so Republicans are doing their utmost that Ukraine lose." Where to find more about WMAL's morning show:  Follow the Show Podcasts on Apple podcasts, Audible and Spotify. Follow WMAL's "O'Connor and Company" on X: @WMALDC, @LarryOConnor,  @Jgunlock,  @patricepinkfile and @heatherhunterdc.  Facebook: WMALDC and Larry O'Connor Instagram: WMALDC Show Website: https://www.wmal.com/oconnor-company/ How to listen live weekdays from 5 to 9 AM: https://www.wmal.com/listenlive/ Episode: Tuesday, February 6, 2024 / 5 AM Hour  O'Connor and Company is proudly presented by Veritas AcademySee omnystudio.com/listener for privacy information.

On this edition of Parallax Views, Amb. Karim Haggag, Amb. Karim Haggag joins us to offer his thoughts and commentary on Israel/Palestine and the Gaza War with a particular focus on the transformation of the Israel-Palestine conflict over the past three decades, the dangers of the current moment, the divisions in the Palestinian national movement, the Israeli settlement project and the influence of the far-right in Israel, the existential narratives at work in both Israeli and Palestinian political and social life, and the erosion of the two-state solution paradigm. Karim Haggag served for twenty-five years in Egypt's diplomatic corps, is a former Egyptian Press & Information Office Director, a professor of practice at the School of Global Affairs and Public Policy at the American University in Cairo, and co-managing editor of the Cairo Review of Global Affairs and director of Masters of Global Affairs. Other topics covered in the course of our conversation: - Israel's 2018 Jewish State Law, the rise of the messianic Jewish far-right in Israel and the mainstreaming of expulsioninist rhetoric in Israel, and Palestinians fears of a new Nakba (referring to the 1948 expulsion of Palestinians) - The Israeli intelligence ministry concept paper that lays out a program for pushing Palestinians from Gaza into Egypt's Sinai Peninsula and how Egypt & President Abdel Fattah El-Sisi's objections to this plan - El-Sisi's core considerations: 1.) not wanting Egypt to be party to another expulsion of Palestinians (we discuss this in relation to criticisms arguing that Egypt simply doesn't want to accept refugees), 2.) the security threat potentially posed by such an expulsion (ie: if Gazans are pushed into the Sinai so too will Hamas) - Criticism of Israel's lack of clearly stated strategic goals in the current war beyond "the destruction of Hamas", the logic of Israel's previous "mowing the grass" military approach to the conflict in the past and its failure, and the maximalist approach Netanyahu is taking to the Gaza War - The failure Western diplomatic approach to the conflict and the assumption that there will be a "Day After" scenario where Hamas is destroyed - Entrenched divisions in the Palestinian national movement between Hamas and Fatah -  The Camp David 2000 Summit that brought together Bill Clinton, Ehud Barak, and Yasser Arafat in peace talks; the narrative that Arafat passed up a "generous offer" from Israel - And much, much more!

Despite the Gaza War, almost 1.5 million tourists visited Egypt in October, up 8% y-o-y, while arrivals in the first three weeks of November were 5-10% higher, Tourism Minister said.President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the acting governor of the Central Bank of Egypt for a second one-year term as part of a wider board shuffle.Goods worth a combined USD63 billion have been released from our ports since the beginning of the year. The still-piled up goods at ports are estimated at about USD5 billion.The Ministry of Transport initially approached five international institutions to obtain soft financing worth USD2.7 billion to complete the construction of the second and third lines of the electric train network. FWRY revealed that the company's testing environment, where FWRY tests applications before launching to the end-user, was breached by LockBit. The company's live production environment, the one that FWRY's clients interact with when they use the company's services, was not subject to any compromise. The compromise on the testing environment included only personal data - no data that would allow someone to use that information to execute financial transactions. Personal data may include some customer's names, their addresses, and email addresses.CLHO reported positive 3Q23 results. Net attributable profit came in at EGP132 million in 3Q23 (+60.4% YoY, +36.9% QoQ), bringing 9M23 net attributable profit to EGP311 million (+25.9% YoY). During 3Q23 and the 9M period, bottom line growth came on the back of revenue growth and sequential margin expansion.BTFH released 9M23 results where 3Q23 net profit recorded EGP232 million compared to a loss of EGP34 million in 3Q22. This brought 9M23 net profit to the green where it stood at EGP86 million (+161% y/y).Raya Information Technology, a subsidiary of RAYA, is in the negotiations phase of acquiring a local player operating in the field of applications developments, according to local press.APM Investment Holdings, a subsidiary of EGX-listed ASCOM, has sold its 35% share in the Ethiopia-based gold mining project dubbed Kurmuk Gikd Project to Canadian gold producer Allied Gild Corporation (AGC) in exchange for 11.5 million shares in the latter and USD65 million. We note that CCAP owns 54.1% in ASCOM, according to the company's latest disclosure published in September 2023.Supply Minister declared to local media that if sugar prices do not stabilize in the market within 10 days, price controls will be introduced.Weekly Commodities Update |   | Last Price | WoW Change, % | Brent, USD/bbl | 80.6 | 0.0% | Diesel-HSFO Spread, USD/ton | 425 | 7.0% | Egypt Urea, USD/ton | 400 | 0.0% | Polyethylene, USD/ton | 990 | 0.0% | Polypropylene, USD/ton | 935 | -0.8% | Steel/Iron Ore Spreads, USD/ton | 347 | 1.0% | LME Aluminum Cash Price, USD/ton | 2,176 | 0.3% | Egyptian Retail Cement, EGP/ton | 2,015 | -2.8% | Steam Coal FOB Newcastle Australia, USD/ton | 122 | -1.0% | SMP, USD/MT | 2,622 | -3.7% | Last price may vary week over week in some indices due to time difference

Abdel Fattah el-Sisi has been the President of Egypt since 2014. Egypt perennially struggles economically and politically, with high inflation, widespread youth unemployment and military dictatorship. In fact, Egypt has been under military dictatorship for nearly seventy uninterrupted years- nearly, because after the 2011 Egyptian Revolution, democratically elected Mohamed Morsi, of the Muslim Brotherhood, came to power. But he was soon deposed in a military coup in 2013. The man who took his place was Sisi, today's subject.But as you're about to hear, Sisi's Egypt is far from stable, his continued leadership far from assured. He walks a constant tightrope, lurching from one crisis to another, painfully aware that among his three immediate predecessors as President, one was assassinated, another forced to resign, and the third imprisoned, later dying behind bars. My guest today is Amy Hawthorne. Amy is a Middle East specialist who has formally worked with the US State Department, the Carnegie Endowment for International Peace, and the Project in Middle East Democracy. As well as Sisi's leadership style and background, we discuss the 2011 Revolution, the Muslim Brotherhood, Egypt's dire economic situation, and Egypt's perspective on the War in Gaza.

- Theo lời mời của Thủ tướng Israel Benjamin Netanyahu, hôm nay (18/10), Tổng thống Mỹ Joe Biden có chuyến thăm Ten Avid nhằm thể hiện sự ủng hộ với quốc gia đồng minh hàng đầu tại khu vực Trung Đông. Nhà lãnh đạo Mỹ cũng có kế hoạch tới Am-man gặp Nhà vua Gioóc-đa-ni Abdullah, Tổng thống Ai Cập Abdel-Fattah El-Sisi và Tổng thống chính quyền Palestine Mamoud Abbas. Giới quan sát nhận định, chuyến thăm của Tổng thống Biden mang tầm quan trọng chiến lược đối với toàn bộ khu vực Trung Đông, nhằm ngăn chặn xung đột lan rộng và quân sự leo thang - vốn đang ảnh hưởng nghiêm trọng đến an ninh và ổn định của khu vực. Thế nhưng, chuyến thăm cũng đặt ra loạt thách thức chính trị và an ninh cho chính quyền Tổng thống Biden tại khu vực địa chiến lược Trung Đông đang ngày càng nóng bỏng. Chuyên gia các vấn đề quốc tế Phạm Phú Phúc - người có nhiều năm công tác tại Mỹ và Trung Đông phân tích rõ hơn vấn đề này. Chủ đề : Tổng thống Mỹ Biden, thăm Israel, tìm giải pháp hạ nhiệt --- Support this podcast: https://podcasters.spotify.com/pod/show/vov1sukien/support

The CBE decided to keep interest rates unchanged at 19.25% and 20.25% for overnight deposit and overnight lending rates, respectively, citing a slight decline in core inflation and a moderation of real GDP growth.Egypt is in talks with an Abu Dhabi-based bank for a loan facility that would finance wheat purchases from Kazakhstan, as a cheap alternative to grain from Russia.The Asian International Infrastructure Bank (AIIB) is holding its annual meeting in Sharm El-Sheikh on 25-26 September. AIIB's current investment portfolio in Egypt amounts to USD1.3 billion. The most important part of the portfolio is the Benban Solar Park project with anticipated investments in the pipeline total just over USD1 billion, mainly in infrastructure financing.The Ministry of Petroleum has upped its investment forecast for the oil and gas sector to USD8.5-9 billion in FY2023/24 up from its previous estimate of USD7.7-8 billion.The Trade Ministry will bring its three-month export ban on onions into effect on 1 October. The USD index reached its highest level in six months, rising by more than 6% since its recent low in mid-July, as investors took a pessimistic view on interest rates in the wake of the Fed's indication that interest rates will need to stay higher for longer.The CBE directed banks to repeal the subsidized interest rate on loans and facilities obtained by government economic authorities, as the CBE had been granting economic authorities loans at a subsidized interest of 5% for two years, which was objected to by an international agency.The government intends to grant tax incentives and exemptions recently approved, including exemption from all types of taxes for up to 5 years, except for value-added tax, to investments worth more than USD500 million, especially in sectors that have an import gap.Suez Canal revenues recorded USD888.6 million in August 2023, compared to USD745.6 million in the same month last year, an increase of 19.2% YoY.The government-owned real estate company Mohammed Alabbar is reportedly considering to acquire through his Eagle Hills company is City Edge, according to local media.SKPC decided to postpone the acquisition of Ethydco until finalizing the study of an offer by a strategic investor to acquire a share of Ethydco's capital through a partial exit of some of the company's existing shareholders.The government hopes to sign final contracts with ADQ before the end of this week for the sale of shares in Egyptian Ethylene and Derivatives Company (Ethydco), Egyptian Linear Alkyl Benzene (Elab), and Egyptian Drilling Company (EDC). It came to an initial agreement with the Abu Dhabi wealth fund earlier this year to sell 25-30% stakes in the three companies for USD800 million.President Abdel Fattah El Sisi has signed a law authorizing Oil Minister Tarek El Molla to contract Chile's Enap Sipetrol and the Egyptian General Petroleum Corporation to carry out oil exploration and extraction in the Gulf of Suez.OIH's Board has agreed to sell 100% of the assets it owns in Brazil.Ashry Steel submitted an offer to the state-owned Metallurgical Industries Holding (MIH) to acquire its subsidiary Delta Steel, according to local media.The Trade Ministry has extended its sugar export ban for another three months until 20 December.MNT-Halan issued a securitization worth EGP1.04 billion, as part of a three-year program worth EGP3.0 billion. This is the second issuance in the program. 

El Sisi yesterday instructed cabinet to implement a package of incentives to support industrial activity and accelerate localization.-Provide new industrial projects in specific sectors a five-year exemption from all taxes, excluding VAT, provided the projects are up and running within three years.-Businesses that get their projects operational in half the agreed upon time frame will receive a 50% discount on the price they paid for the land.-Expand the granting of golden licenses to all the projects working to enhance localization.EXPA, the Agricultural Bank of Egypt, and aiBank have until 23 August 2024 to align their regulations with the 2020 Banking Act, after President Abdel Fattah El Sisi ratified the bill of establishing laws. Delegations from Egypt, Ethiopia, and Sudan met in Cairo on Sunday to begin a new round of talks over the Grand Ethiopian Renaissance Dam.General Authority for Investment and Free Zones received requests from Chinese investors to inject investments into the local market in yuan to escape the dollar dominance.Chinese textile manufacturer Zhejiang Cady Industry will invest USD 60 mn to establish a factory in Ain Sokhna.Network International intends to invest EGP1 billion in the Egyptian market over the coming three years. Unnamed investors are eyeing the purchase of Gulf Capital's entire 37% stake (23.1 mn shares) in EGX-listed Middle East Glass (MEG).The government is planning to issue six more pellet steel production licenses to major foreign investors or local-foreign consortiums in 2024. Government is now prioritizing foreign companies to attract FX into the country.Russia-based steel maker Novostal M plans to invest USD400-500 million to set up a steel factory in Egypt.The government broke ground on its EGP1.5 billion strategic warehouse in Luxor yesterday which is planned to take 18-24 months to build. ORAS (FV: EGP181.70, OW), Hassan Allam Utilities, and Samcrete are executing the project. Misr Chemical Industries issued the net profit figure for July 2023 that amounted to EGP38 million, up 6% MoM and 71% YoY.  MICH stated in its BoD release that net profit for July 2023 increased thanks to higher production volumes and sales prices. MICH is trading at FY22/23 P/E of 3.37x.Weekly Commodities |  Last Price           WoW Change, %Brent, USD/bbl  84.5      -0.4%Diesel-HSFO Spread, USD/ton     413.3    8.1%Egypt Urea, USD/ton      467.0    0.0%Polyethylene, USD/ton  1,070.0 0.0%Polypropylene, USD/ton              940.0    2.2%Steel/Iron Ore Spreads, USD/ton             377.1    0.0%LME Aluminum Cash Price, USD/ton        2,113.7 1.2%Egyptian Retail Cement, EGP/ton             1,917.5              12.1%Steam Coal FOB Newcastle Australia, USD/ton    149.4              -0.1%SMP, USD/MT   2,333.0 -4.9%

The Federal Reserve hiked interest rates by 25 bps yesterday stating that the committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge.  The Electricity Ministry expects the ongoing rolling blackouts to continue until the middle of August as pressure on the country's power generation infrastructure continues amid the summer heat.  A number of banks are studying the possibility of issuing high-yield dollar certificates, after NBE and Banque Misr did.  President Abdel Fattah El Sisi landed in St. Petersburg yesterday, where he met with President Putin to discuss ongoing projects and the impact of the ongoing war in Ukraine on African countries ahead of the Russia-Africa Summit, which kicks off today.   OLFI released 2Q23 results showing net profit of EGP97 mn (+7.5% YoY, -15.8% QoQ) with a weak margin of 6.5% compared to 10.3% in 2Q22 and 7.8% in 1Q23. The squeeze in margins came backed by weaker gross profitability due to rising costs and an increase in interest expenses. Revenues climbed by 70.1% YoY and 1.1% QoQ to reach EGP1,486 mn driven mainly by the aggressive prices increase. OLFI is trading at a FY23 P/E of 8.1x and an EV/EBITDA of 4.3x. Head of tobacco industries has requested granting EAST LCs to import the needed raw materials as their current inventory is sufficient for only one month worth of production. SPMD reported 4Q22 consolidated financial results with net loss of EGP63.5 million in 4Q22 compared to a net loss of EGP30.7 million in 4Q21. The negative bottom line is mainly attributed to the decline in revenues, recording expected credit loss of EGP13 million and impairment of inventory of EGP9.5 million.  On annual basis, bottom line recorded a net loss of EGP146.2 million in FY22 (-207% YoY), compared to a net profit of EGP136.1 million in FY21. SPMD is currently trading at 2023f P/E of 78.6x and EV/EBITDA of 15.3x. An official decision was sent to the fertilizers factories that the government will cut natural gas supplies (and so companies will cut its production) by 20% in order to save natural gas amid the recent electricity crisis. The decision will be applied this week. While the face value of the news is negative, the Impact depends on whether the 20% reduced output will be from local quota or exports. It should be from local quota. Higher urea prices should alleviate some of the effect. MFPC decided in its latest BoD to contribute in the establishment of a new company to produce Green Hydrogen, that will be used in the production of Green Ammonia.  Singapore-based chemical company Indorama has laid the groundwork for expanding its presence in Egypt after signing an MoU with the Sovereign Fund of Egypt (SFE), to explore options in several sectors including fertilizer production, phosphate extraction, renewable energy, and medical fibers. ORAS and French electricity and renewables company Engie are in talks with the government to install solar power plants at two of EGAL's production facilities. The Electricity Ministry is cutting the cement industry's natural gas supply, but the extensive use of coal, together with the fact that plants are only running at 50-60% capacity due to the cement supply glut, should mean that operations remain unaffected. The government to offer four water desalination plants in three months with investments estimated at USD300 million as part of the 5-year national plan to present 21 water desalination projects to the private sector. Hotel occupancy rates in Egypt reached 80% in 1H23, compared to 65% in 1H22.  According to JLL, resale real estate unit prices in West Cairo and Ea

- Sáng 25/6, Tổng thống Ai Cập Abdel Fattah El-Sisi đã trao tặng Thủ tướng Ấn Độ Narendra Modi phần thưởng danh dự cấp nhà nước cao nhất của nước này, “Huân chương sông Nile” trong một buổi lễ tại thủ đô Cairo. Chủ đề : Ai Cập, Thủ tướng Ấn Độ Narendra Modi, Huân chương sông Nile --- Support this podcast: https://podcasters.spotify.com/pod/show/vov1tintuc/support

President Abdel Fattah El Sisi received a phone call from IMF Managing Director yesterday, discussing the government's economic reform program. New rules making it easier for foreigners to get citizenship were signed into law by El Sisi, including the purchase of real estate units for a value of USD350k. TMGH is a key beneficiary.  The cabinet approved a recent decision by the Interior Ministry to amend the Investment Act regulations to allow foreign investors to acquire year-long non-touristic residencies when proposing investment plans to GAFI.  Finance Minister Mohamed Maait expressed optimism that the New Development Bank — the multilateral lender set up by the BRICS — will provide Egypt with concessional loans to fund infrastructure projects. Some prepaid cards can no longer be used to make international transactions, according to the CBE, cards that aren't linked to bank accounts, and issued by digital payments companies Klivvr, Nexta, and Telda. Importers can now pay just 1% of the tax and fees required to proceed with the customs clearance process before the arrival of imports, down from 30% previously, according to a Finance Ministry decision. The remaining 99% is to be paid upon the arrival of imports. The decision went into effect on 30 May. The developers of Cyprus' Aphrodite field plan to build a subsea pipeline linking the offshore gas reservoir to an Egyptian LNG processing facility. Trade and Industry Minister issued a decision allowing industrial investors to pay for licenses every three or five years, instead of annually.  An energy firm will make its debut on the EGX within two months, according to EGX head Ramy El Dokany.  The exchange is terminating its EGX50 index due to its limited usefulness and will launch a new Sharia-compliant index. Negative net foreign position fell in April for the first time since December, by USD 162.7 million, reaching USD 24.1 billion, compared to USD 24.3 billion during last March, supported by a decrease in the commercial banks negative NFA, while it widened at the CBE. SWDY (FV: EGP22.87, OW) achieved solid 1Q23 results recording a surge in net attributable income to EGP2.9 billion in 1Q23, almost 4-fold the earnings in 1Q22 and 25% higher than 4Q22. Bottom-line growth was accelerated by higher profitability across all business segments, coupled with higher FX gains that partially offset rising financing costs and SG&A expenses. SWDY is currently trading at FY23e P/E of 4.4x and EV/EBITDA of 4.7x. Please refer to our note published earlier today for further details. ORAS general assembly approved the purchase of 6,517,444 of its own shares (the “Shares”), representing 5.58% of the Company's total issued share capital at a price of USD3.00/share. Consumer Staples  OLFI (FV: EGP14.11, OW) released 1Q23 financial results: Net profit for the quarter recorded EGP115.2 mn (+27.1% YoY, -15.2% QoQ) with a margin of 7.8% versus 9.8% in 1Q22 and 9.6% in 4Q22. The sequential pressure in net profitability came backed by FX losses. The rise in net interest expense took a toll on bottom-line as well due to the rise in the company's net debt. We raise our FV for OLFI to reach EGP14.11/share from a previous EGP11.60/share and uplifting our recommendation to Overweight. OLFI is currently trading at a FY23 P/E of 9.7x and and EV/EBITDA of 5.2x. POUL (FV: EGP5.90, EW) POUL achieved record breaking results for the quarter. Net profit recorded EGP556.1 mn compared to EGP52.5 mn in 1Q22 and EGP76.7 mn in 4Q22. The huge peak is backed by a sur

MSCI February Rebalancing: Standard Index Egypt: No ChangeSmall Cap Index Egypt: ESRS and HELI added with no deletionsCore inflation hit 31.2% in January, up from 24.4% in December. President Abdel Fattah El Sisi denied there is any tension with Saudi Arabia. The government is ready to offer up stakes in all military-owned firms as part of the state privatization program and partner with private-sector players.Planning Minister is leading a business delegation to a number of Gulf countries along with Sovereign Fund of Egypt head to drum up interest in the offering program.International oil companies intend to invest USD1.5 billion in FY23/24 to develop natural gas fields in Egypt.Kuwait will look into amending its policies on providing aid to Arab and developing countries through its Kuwait Fund for Arab Economic Development.Cabinet has denied a media report last week that it is planning to introduce a mechanism to price electricity on a quarterly or semi-annual basis.Moody's downgraded the ratings of five banks (NBE, Banque Misr, Banque Du Caire, COMI to B3 from B2 and Bank of Alexandria to B2 from B1). The outlook on deposits' ratings changed from negative to stable.Seif Thabet, JUFO's previous CEO, is back on the company's management team. However, title is still unannounced. OCDI achieved solid 4Q22 sales of EGP9.5 billion, up 59.0% y/y and 85.4% q/q, bringing FY22 sales to EGP21.3 billion, up 87.4% y/y. Net profit in 4Q22 declined 83.3% y/y and 39.0% q/q to EGP86.5 million due to EGP542.0 million in provisions in light of EGP devaluation, bringing FY22 net profit to EGP520.1 million, down 39.5% y/y.Abou Ghaly Motors is introducing Chinese automaker Geely's Geometry C electric car to the local market. To obtain the car, its amount must be paid in USD through Abou Ghaly's freezone company in Alexandria.Three international companies submitted technical and financial offers to the National Authority for Tunnels of the Ministry of Transportation to develop the infrastructure and electronic systems of the first line metro Helwan-New Marg.An Italian company offered to establish a wind power station with investments amounting to EUR200 million.The state wants to make it easier for manufacturers of pharma products and medical supplies to get licenses.

As Egypt President Abdel Fattah El-Sisi landed in India yesterday and is the chief guest of this year's Republic Day celebrations, ThePrint Editor-in-Chief Shekhar Gupta explores the country's running romance with dictators, El-Sisi's international popularity and relationship with India, in episode 1160 of ‘Cut the Clutter'. Brought to you by  @KiaInd  ----more----Read Snehesh Alex Philip's PastForward article here: https://theprint.in/past-forward/with-rajnath-singh-in-cairo-india-egypt-pick-up-nehru-nasser-thread-left-off-in-the-60s/1133839/

By Amy Goodman & Denis Moynihan President Biden should work for the immediate release of Alaa Abd El-Fattah and many more Egyptian political prisoners before granting Egyptian dictator President Abdel Fattah El-Sisi a plum White House meeting.

COP27 is underway. In this quick chat, ESG Talk host Mandi McReynolds reflects on President Abdel Fattah El-Sisi's opening remarks and asks business leaders to pause and reflect on the difficult questions that will determine our impact on business and society. Stay tuned for a follow up episode featuring CDP Chairman Paul Dickinson that will explore reflections from the remainder of COP27 and what's to come in the year ahead.  Resources: 1) COP27 - https://cop27.eg/#/  2)President Abdel Fattah El-Sisi Opening Speech - https://www.sis.gov.eg/Story/172566/President-El-Sisi's-Speech-at-the-Opening-Session-of-COP-27?lang=en-us 

Listen to an interview with Egyptian activist, writer and photographer Hossam El Hamalawy @elhamalawy speaking on the current state of social movements in Egypt. In this exchange, recorded in Berlin, Hossam talks about the ways that state repression in Egypt has been deepened in recent years under the authoritarian government of Abdel Fattah El-Sisi. A key to this conversation is the ways that the complicity of western governments with the state repression in Egypt is a reality, largely contextualized by Hossam as related to the sale of military hardware by major French and German corporations of the military industrial complex which are making profits from selling to the Egyptian state. Music on this interview is by Anthony Sahyoun @asahyoun. Photo taken by Hossam "El-Darb el-Ahmar الدرب الأحمر" The accompanying photo is taken by Hossam who wrote at the time "the front page of the liberal daily Ad-Dustour with news on the solidarity protest held in London against the trial of the Mahalla 49." This is important context to highlighting Hossam's long term involvement with social movements in Egypt, including the organizing of factory workers in Mahalla industrial district who held strikes leading up to the 2011 uprising which created pivotal momentum toward the uprising. You can view this photo here: https://www.flickr.com/photos/elhamalawy/2746692189/ View Hossam's beautiful photo stream here: https://www.flickr.com/photos/elhamalawy Free City Radio is hosted and produced by Stefan @spirodon Christoff and airs on @radiockut 90.3m and @cjlo1690am in Tiohti:áke/Montréal, on @ckuwradio 95.9 in Winnipeg and on @cfrc 101.9 fm in Kingston, Ontario. Now also broadcasting on @cfuv 101.9 FM in Victoria, BC. Also Free City Radio is a podcast through both Spotify and Apple Podcasts, please encourage a friend to tune-in !

President Abdel Fattah El Sisi has called for drawing up a clear-cut African strategy for eradicating extremism and terrorism and drying up their sources of financing. Prime Minister Mostafa Madbouli reiterated Egypt's commitment to providing anti-terrorism training assistance to sisterly African nations, contributing to UN peacekeeping missions, and maintaining efforts through the Sahel and Sahara Counter-terrorism Centre in Cairo. He says Egypt is also willing to offer more support on that score, whether through bilateral cooperation or AU cooperation mechanisms. Sisi says that Egypt will spare no efforts to address the challenges facing the Dark Continent and achieve the aspirations of all African peoples.

President Abdel Fattah El Sisi has called for drawing up a clear-cut African strategy for eradicating extremism and terrorism and drying up their sources of financing. Prime Minister Mostafa Madbouli reiterated Egypt's commitment to providing anti-terrorism training assistance to sisterly African nations, contributing to UN peacekeeping missions, and maintaining efforts through the Sahel and Sahara Counter-terrorism Centre in Cairo. He says Egypt is also willing to offer more support on that score, whether through bilateral cooperation or AU cooperation mechanisms. Sisi says that Egypt will spare no efforts to address the challenges facing the Dark Continent and achieve the aspirations of all African peoples.

President Abdel Fattah El Sisi has called for drawing up a clear-cut African strategy for eradicating extremism and terrorism and drying up their sources of financing. Prime Minister Mostafa Madbouli reiterated Egypt's commitment to providing anti-terrorism training assistance to sisterly African nations, contributing to UN peacekeeping missions, and maintaining efforts through the Sahel and Sahara Counter-terrorism Centre in Cairo. He says Egypt is also willing to offer more support on that score, whether through bilateral cooperation or AU cooperation mechanisms. Sisi says that Egypt will spare no efforts to address the challenges facing the Dark Continent and achieve the aspirations of all African peoples.

- Diễn đàn Thanh niên Thế giới lần thứ 4 khai mạc ngày 10/1 tại thành phố Sharm El-Sheikh của Ai Cập, với sự tham dự của Tổng thống nước chủ nhà Abdel-Fattah El-Sisi cùng nhiều lãnh đạo và đại biểu từ các quốc gia trên thế giới. Tác giả : Ngọc Thạch/VOV Ai Cập Chủ đề : khai mạc, diễn đàn, thanh niên, thế giới --- Support this podcast: https://anchor.fm/vov1tintuc/support

«Η Άγκυρα εξακολουθεί να μην αντιλαμβάνεται τα μηνύματα των καιρών», δήλωσε ο πρωθυπουργός της Ελλάδας, Κυριάκος Μητσοτάκης κατά τη διάρκεια των κοινών δηλώσεων με τον πρόεδρο της Κυπριακής Δημοκρατίας, Νίκο Αναστασιάδη και τον πρόεδρο της Αιγύπτου, Abdel Fattah El-Sisi, στο πλαίσιο των εργασιών της 9ης Τριμερούς Συνόδου Κορυφής.

Hội nghị thượng đỉnh hợp tác 3 bên giữa Thủ tướng Iraq Mustafa al-Kadhimi, Tổng thống Ai Cập Abdel Fattah El-Sisi và Quốc vương Jordan Abdullah II vừa diễn ra tại thủ đô Baghdah của Iraq. Hội nghị đã bàn thảo nhiều vấn đề từ thương mại tới các thách thức an ninh truyền thống, phi truyền thống, cho thấy tham vọng rất lớn của ba nước Iraq – Ai Cập – Jordan nhằm xây dựng một liên minh chiến lược mới ở Vùng Vịnh. --- Support this podcast: https://anchor.fm/vov1thegioi/support

In this episode, Stephen looks into the 3 ways representatives explored developing Africa, entrepreneurship, intra-Africa trade, and Chinese investment.Africa 2017, Held under the High Patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt 7 – 9 December 2017 Sharm El Sheikh, Egypt.Africa 2017 is a unique platform for public-private sector cooperation. It is a Business to Business and Government to Business Forum bringing together policymakers, financiers, leading industrialists and young entrepreneurs in the promotion of Intra-African trade and investment focusing on key strategic sectors.The 2017 edition builds on the success of the inaugural Africa 2016, which saw participation from six heads of state and more than 1,000 delegates from 45 countries. This year the program has been enhanced with exclusive Presidential Roundtables with African leaders and CEO's and a Young Entrepreneurs' Day.--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/appSupport this podcast: https://anchor.fm/thats-all-i-have-to-say-about-that/support

In this episode, Stephen looks into the 3 ways representatives explored developing Africa, entrepreneurship, intra-Africa trade, and Chinese investment.Africa 2017, Held under the High Patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt 7 – 9 December 2017 Sharm El Sheikh, Egypt.Africa 2017 is a unique platform for public-private sector cooperation. It is a Business to Business and Government to Business Forum bringing together policymakers, financiers, leading industrialists and young entrepreneurs in the promotion of Intra-African trade and investment focusing on key strategic sectors.The 2017 edition builds on the success of the inaugural Africa 2016, which saw participation from six heads of state and more than 1,000 delegates from 45 countries. This year the program has been enhanced with exclusive Presidential Roundtables with African leaders and CEO's and a Young Entrepreneurs' Day.--- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/appSupport this podcast: https://anchor.fm/thats-all-i-have-to-say-about-that/support

Komende maandag is het vijf jaar geleden dat activisten in Egypte de straat op gingen en het Tahrirplein in Cairo bezetten. Na achttien dagen dwongen zij president Mubarak tot aftreden. Van die revolutie is weinig over. Het oude regime zit met de nieuwe president Abdel Fattah El Sisi weer stevig in het zadel. We spreken erover met correspondente Ruth Vandewalle in Cairo.