Egyptian Stock Exchange
Talaat Moustafa Holding Group (TMG Holding) announced a significant surge in net profit for the first half of the year, with a 310% year-on-year increase. According to the company's consolidated financial statements released on Tuesday, revenues climbed substantially, reaching EGP 17 billion.
To be included in the index, companies are required to ensure that their activities, as well as financial and accounting conditions, are in line with the provisions of Islamic Sharia law
These gains reflect the continued optimism among investors about the performance of the Egyptian economy.
Benchmark index EGX 30 climbed by 2.37 percent to 17,642.97 points, while EGX 50 surged by 2.98 percent to end the session at 3,139.38 points
Trading on securities saw Egyptian and Arab investors as net sellers with LE 4.02 million and LE 13.39 million, respectively. Foreign investors were net buyers with LE 17.41 million
Egypt's Prime Minister Mostafa Madbouli issued a decree on Thursday appointing Ramy El-Dokany as head of the Egyptian Stock Exchange (EGX) board and Hebatallah El-Serafy as his deputy for a one-year term.
The President issued directives for the government to continue the IPO program during the coming period to expand the base of ownership in the Egyptian Stock Exchange and attract direct investments.
Rameda said that trading will be made in two tranches and will be priced at LE 4.66 per share.
The market capital lost about EGP 13.6 billion to hit EGP 962 billion amid transactions that hit EGP 1.4 billion.
Foreign investors have been lured to invest in Egypt's assets on the back of President Abdel-Fatah al-Sisi’s bold economic reform program.
Prime Minister Sherif Ismail on Monday affirmed his government's determination to complete the reform policy in all sectors.
Mohamed Farid participated in the 57th annual meeting of the World Federation of Exchange (WFE) hosted by the Stock Exchange of Thailand on September 6-8.
New trading mechanisms are to be offered to advance the Egyptian capital market through use of modern technology.
Misr Fertilizers Production Company’s (MOPCO) posted a net profit of LE 393.7 billion ($21 billion) in Q1 2017.
Egypt hopes a stamp tax on trades in the Egyptian Exchange (EGX) will generate revenues ranging between 1-1.5 billion EGP in 2017/18.
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