Business News Wrap-Up

EGX ends 2nd session of week in red, market cap. gains LE 1.1B

The Egyptian Exchange (EGX) ended Monday's session in green, and market capitalization gained LE 1.1 billion ($62.31 million) amid Arab and foreign purchases.

The benchmark EGX30 rose 0.86 percent, or 142.62 points, to close at 16,791.09 points.

EFG Hermes acquires TMG’s schools for LE1B

EFG Hermes announced on Monday signing an agreement with Talaat Moustafa Group Holding (TMG Holding) to acquire a portfolio of schools in an LE 1 billion ($55.75 million) investment.

Chemical Industries approves offering 4% of Eastern Tobacco

The extraordinary general assembly of Chemical Industries Holding Company approved issuing 4 percent of its stake in Eastern Tobacco on the Egyptian Exchange (EGX).

Egypt pays $40M to Dana Gas

The UAE-based Dana Gas (DANA) announced the receipt of $40 million from the Egyptian government as a part of the company’s receivables, upgrading the total paid amount to $88.8 million during 2018.

Mona Aboud: A woman with many hats

Property developments expert and women’s empowerment advocate, Mona Aboud has left her mark in Egypt’s economic and social worlds. Facing many challenges and difficulties when she first set off to establish her real development company, The Egyptian Arab Company for Modern Building & Reconstruction, Aboud managed to make an unforgettable impression on the sector.

National Cement Co. records loss of LE 744M in 9 months

National Cement Company recorded a net loss of LE 744 million before taxes during the first nine months of fiscal year 2017/2018, compared to a loss of LE 615.6 million during the same period of 2016/2017.