MSCI said it would not “implement any changes as part of upcoming index reviews for any securities classified in Egypt.”
Inflation figures for April recorded 30.6% YoY from 32.7% YoY in March 2023.
Macro targets revealed by Ministry of Finance and Ministry of Planning for FY23/24:
Ration card holders will now face tighter limits on how much subsidized food they can buy per month under a Supply Ministry directive issued yesterday.
Abu Dhabi wealth fund, ADQ, is close to acquiring a 20-25% stake in Egyptian Linear Alkyl Benzene (Elab). The transaction is expected to be completed before the end of this month.
MOIL BoD approved yesterday the offer submitted from the Saudi company Al Gihaz Holding that allows the latter to buy the marine units owned by “Valentine Maritime” at a value of USD115.6 million (USD0.25 per share).
EMFD plans to open two new hotels, the Address Marassi Beach Resort and the Vida Marina Resort & Yacht Club Marassi, on the North Coast in 2023, and the Vida Residences Cairo Gate in Cairo in 2024.
The Universal Healthcare scheme is currently operational in Port Said and Luxor and is being trialed in South Sinai and Ismailia. The trial phase will also extend to Aswan and Suez within weeks.