The Listing Committee held on 05/12/2022 has approved to list the shares of Port Said Container And Cargo Handling (Initial Listing) With an issued capital of EGP 164,112,105 , distributed over 32,822,421 shares, with a nominal value of EGP 5 per share, represented in three issuances in the Egyptian Securities Listing Schedule (Shares) ' 'Main Market', in accordance with Articles (1) bis, (6), (7) and (18) of the rules for listing and delisting securities on the Egyptian Exchange.
The company is committed to fulfilling clauses (1, 2 and 3) of Article (7) of the Listing rules and completing the registration procedures with ' FRA' in accordance with the rules set by the Authority's Board of Directors . The company undertakes to implement the offering of its shares within six months grace period from the date of the Initial Listing
In all cases, the company's shares shall not be traded during the period from the date of the Initial Listing until the start of trading on these shares, except with the approval of ( FRA ) , The Initial Listing shall be considered null and void in the event of the expiration of the 6 months grace period without fulfilling the rest of the conditions and requirements for the Final Listing . This deadline may be extended with the approval of the Authority in cases it deems appropriate based on the justifications and time plan provided by the company , the company, throughout the Initial Listing period, adheres to the obligations stipulated in clauses (1 to 4) of Article (48) of these rules.
The company's shares shall be added on the EGX's database under the sector of ' Shipping & Transportation Services ' as of Wednesday 07/12/2022 trading session .
The company is also obligated to provide the stock exchange with a letter from Misr for Central Clearing, Depository and Registry indicating the percentage of its shares to be Locked 'Up , in accordance with the provisions of Clause 7 of Article 7 of the listing rules, before the start of trading in the company's shares.

The value of Americana Restaurants rose by a remarkable $55 million a month (AED204 million) every month since it was taken over in 2016 by Mohamed Alabbar, according to new data obtained by Arabian Business.

The listing of America Restaurants will take place on the Abu Dhabi Securities Exchange and Saudi Arabia’s Tadawul on December 12, following its IPO which valued the group at $6 billion.

The decision comes as oil markets wait to see how a slowing Chinese economy and a G7 price cap on Russian oil would affect demand and supply fundamentals

OPEC+, the coalition of oil-producing nations led by Saudi Arabia, agreed to keep its oil output targets unchanged amidst the softening trend in oil prices.

The decision, taken at a virtual meeting of the grouping on Sunday, is widely seen as a move against trying to stop the slide in prices with cuts to the world’s oil supply.

The agreements included a framework cooperation agreement with Bpifrance, the French public investment bank, the Small Industries Development Bank of India (SIDBI), and the Industrial Bank of Korea

The Saudi Small and Medium Enterprise Bank signed a series of cooperation agreements with international partners and financing institutions to enhance financing solutions for the sector.

The agreements were signed with commercial banks, financing companies and financial technology companies.

The agreements also included a framework cooperation agreement with Bpifrance, the French public investment bank, the Small Industries Development Bank of India (SIDBI), and the Industrial Bank of Korea.

Credit Suisse rose as much as 7.5% on the prospect that Saudi Arabian Crown Prince Mohammed bin Salman will take a stake in the Swiss firm’s planned investment bank spin out.

An Egyptian delegation comprising officials from several ministries will head to the UAE to exchange expertise with Emirati officials who participated in last month's UN conference on climate change COP27 in Sharm El-Sheikh and to coordinate on COP28, to be held in Dubai in 2023, said Foreign Minister Sameh Shoukry.


Shoukry, who was the president of the COP27, was addressing members of the House of Representatives' Foreign Affairs Committee on Sunday.

"We gained much experience from this conference in terms of public relations, preparations, and negotiations," he added.

"COP27 was the biggest international conference in terms of participants, in addition to a record number of 33 presidents. Coordination among state ministries was effective to make this international gathering a success," said Shoukry.

The conference was also held amid the repercussions of the coronavirus pandemic and the Russia-Ukraine war, he added.

"As a result, the conference was a challenge to the Egyptian state and I think we made a big success in diplomatic, organisational, public relations, and logistical terms," said Shoukry, adding that "we will convey our experience to the UAE."

Minister of Environment Yasmine Fouad told MPs that the number of participants in COP27 hit a record 50,000, compared to 36,000 in COP26 in Glasgow, Scotland, in 2021.

"While we got 30,000 hotel rooms in Sharm El-Sheikh to accommodate guests, this was an organisational problem in Glasgow," said Fouad, adding that "it was also very difficult to turn Sharm El-Sheikh into a green city, but due to the excellent coordination among cabinet ministries and under direct supervision from Prime Minister Mostafa Madbouly we were able to achieve this objective a long time ahead of the conference."

"The size of offices and suites hosting COP27 guests reached 35,700 square metres, compared to 12,000 square metres in Glasgow," she said.

Fouad revealed that Egypt's financial needs for fighting climate change until 2023 are estimated at $20 billion.

"We were able to ink $15 billion worth of deals at COP27. The sum will be allocated to funding nine green projects over the next five years," said Fouad.

She stressed that COP27 shed light on the negative impact of climate change on Africa.

"COP27 was the voice of Africa and we were able to secure funding to African countries to contain climate change, including $150 million from the US and £200 million from the UK," said Fouad.

Egypt’s Purchasing Managers’ Index (PMI) for the non-oil private sector dropped from 47.7 in October to 45.4 in November, marking the second lowest level since June 2020 and extending the current sub-50 sequence to two years, with readings below 50.0 indicating a contraction, Standard and Poor’s (S&P) Global said on Monday.


In its report on Egypt, S&P explained that Egyptian companies in the non-oil sector experienced a marked contraction in operating conditions in November, as business activity and demand were undermined by inflationary pressures.

Egypt’s annual headline inflation accelerated to 16.2 percent in October to surpass the 15.7 percent mark registered in November 2018, according to the latest readings released by the Central Agency for Public Mobilisation and Statistics (CAPMAS).

The sector’s output fell at the sharpest rate since the initial COVID-19 lockdown in May 2020, as a strong depreciation of the Egyptian pound caused purchase prices to accelerate at the sharpest pace in over four years, read the S&P report.

Employment rates in the non-oil private sector increased in November for the fourth time in five months, while business confidence recovered slightly from October's low despite the rapid fall orders, the report added.

"Egyptian firms faced an immediate hit to demand from a rapid depreciation of the pound since late October, with the November PMI results signalling the worst drops in output and new orders since May 2020. Outside of the initial COVID-19 lockdown stage, the fall in activity was the quickest since the beginning of 2017,” economist at S&P Global Market Intelligence David Owen explained.

He added that the depreciation of the Egyptian pound against the US dollar led to a significant increase in prices of raw materials, which have already hiked due to import restrictions since early 2022.

“Purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month. Notably, this proportion was three times higher than those registering an increase in their selling prices in November (14 percent), suggesting that most firms were shouldering the burden of rising costs as demand continues to worsen,” Owen noted.

He added that the latest downturn occured during an emergency two percent hike in interest rates and continued efforts to bring inflation down from its current four-year high of 16.2 percent.

The Central Bank of Egypt (CBE) hiked the key interest rates in October in an unscheduled meeting about a month before the anticipated meeting of the board of directors of the International Monetary Fund (IMF), expected in December, to discuss the fund’s staff-level report on Egypt. The meeting will decide on greenlighting a $3 billion loan for Egypt under a 46-month economic reform programme.

The S&P report expected demand to slow and commodity prices to descend over the medium term.

“Central to the downturn was a rapid decrease in business activity, as survey panellists reported that accelerated cost rises and falling new orders forced them to cut output. The rate at which activity declined was the sharpest for two-and-half years, and the most severe since January 2017 when excluding the initial phase of the COVID-19 pandemic. The rate of decline in new orders deepened in November amid reports of spending cuts by customers due to rapid inflation and elevated interest rates. Like output, new business fell to the greatest degree since May 2020. Export sales also decreased amid slowing global economic conditions,” read the report.

The report added that the latest decline in operating performance came due to the sharp depreciation of the Egyptian pound against the US dollar in order to enable the approval of a new IMF deal.

Accordingly, the purchase price inflation significantly sped up to a 52-month high, the report noted.

“Notably, over 42 percent of surveyed businesses saw their overall costs increase since October, three times the proportion of firms that saw a concurrent rise in selling prices (14 percent). Output charge inflation, nevertheless, quickened from the previous month, although the results signalled some hesitancy to raise charges as sales continue to fall,” according to the report.

As per the report’s survey, Egyptian firms were slightly more optimistic about future output in November, while their concerns about high inflation, rising interest rates, currency weakness, and the global economic slowdown remain.

Contact Creditech, the digital consumer finance arm of Contact Financial Holding (CNFN), has signed a cooperation agreement with Option Travel to offer exclusive services for women of all ages, according to an emailed press release on December 5th.

The women-focused services aim at improving the quality of Egyptian woman’s life.

All female users will have free access to the services.

The services come in line with Contact Financial Holding’s policy to provide high-quality services at convenient prices.

Contact Financial Holding, formerly Sarwa Capital, is a non-bank financial services provider, changing the way people and businesses access finance and insurance.

Derayah Financial Co has sold 5,000 shares in International Company for Medical Industries (ICMI) for EGP 6,300 or EGP 1.26 per share, according to a shareholding disclosure on December 5th.

Accordingly, Derayah cut its stake in ICMI to 9.99% from 10%.

Established in 2004, ICMI operates within the healthcare equipment and services sector focusing on healthcare equipment.

Madinet Nasr Housing and Development (MNHD) has participated in the 38th Annual African Union for Housing Finance Conference (AUHF), which took place in Cairo from November 28th to 30th, according to an emailed press release on December 5th..

Hosted under the name of “A Green Urban Future for Affordable Housing”, the conference was organized by the Social Housing and Mortgage Finance Support Fund, in partnership with the African Union for Housing Finance.

The conference was attended by members of the Board of Directors of the African Union for Housing Finance, representatives of the World Bank and the International Finance Corporation (IFC), the United Nations Human Settlements Program UN-Habitat, Habitat for Humanity International organization, and CAHF organization, along with several African official figures Egyptian and real estate developers and financing companies.

MNHD is an Egypt-based real estate development company that operates in the development of land, buildings, and facilities.

Total global spending on information technology is expected to reach $4.6 trillion in 2023, rising by 5.1% from 2022, Egyptian Minister of Communication and Information Technology Amr Talaat stated during an event on December 5th.

Freelancers now account for about 15% to 25% of the global labor market, Talaat said, adding that this percentage is likely to increase to about 35% to 40% by 2025.

The communication and information technology sector is the fastest-growing sector in Egypt over the past four years a half, with growth rates ranging between 15% and 17%, the minister noted.

Talaat previously announced that the telecommunication and IT sector in Egypt recorded an average growth rate of 16%, the highest growth for three consecutive years.

The Egyptian government is expected to invest around EGP 22.8 billion in the communication and IT sector in fiscal year (FY) 2022/2023.

Egypt Post has signed a cooperation protocol with Khazna to provide the postal services agency’s customers of pensioners with convenient financial services via Khazna App, in collaboration with Prime Business Consulting, according to a statement issued on December 4th.

The framework of this project, which has been designed by Prime Business Consulting, enables Egypt Post’s customers of pensioners of receiving an advanced payment of their pensions which they can settle later in installments.

The protocol has been signed by Vice Chairman for postal areas affairs at Egypt Post Abdo Elwan and Co-Founder and CEO of Khazna Omar Saleh, in presence of Atef Helmy, Chairman of Prime Business Consulting.

Commenting on the cooperation, Chairman of Egypt Post Sherif Farouk said: “This protocol will enable Egypt Post’s customers of pensioners to get an advanced payment that is three times higher than their pensions via Khazna App and settle the amount in installments over up to 12 months through more than 4,300 post office across the country.”

The extraordinary general meeting (EGM) of Marseilia Almasreia Alkhalegeya for Holding Investment (MAAL) has agreed to splitting the nominal value of the company’s stock to EGP 0.5 from EGP 1, according to a disclosure filed to the Egyptian Exchange (EGX) on December 5th.

Accordingly, the company’s capital will be distributed over 207.648 million shares.

Moreover, the EGM endorsed the amendment of Article 6 and 7 of the Articles of Association.

Meanwhile, the company’s ordinary general meeting (OGM) has approved the finance lease contracts signed with Ui Finance, according to a separate disclosure.

Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.

One Finance has signed a partnership agreement with ADVA to launch consumer financing services, according to an emailed statement on December 5th.

Under the partnership, consumer financing services will be offered through eight different categories, including finishing, education, health, travel, car maintenance, weddings, and insurance.

“One Finance will be able to benefit from ADVA’s network of service providers, which amounts to 2,000 providers and its customers base of 15,000 clients to offer bespoke programs tailored to individual needs with different repayment methods,” Chief Marketing and Partnerships Officer of One Finance Mohamed Samir said.

“The company offers an interval of financing limit starting from EGP 10,000 and up to a maximum of EGP 6 million, the highest credit limit among operating companies in the market, along with various payment plans and facilities, and convenient installment plans,” Samir added.

Commenting on the announcement, Founder and CEO of ADVA Rania Gaafar said: “We are excited to cooperate with One Finance which marks a significant step towards strengthening ADVA’s role in the consumer finance sector as a mediator between customers, service providers, and collection partners.”

For his part, Hazem Madany, Deputy Chairman, Managing Director, and CEO of One Finance, stated: “Signing this partnership with ADVA is part of One Finance’s commitment to expand its service offering and reach out to a new pool of customers, by providing an integrated consumer financing experience through a one-stop-shop for different categories.”

The Egyptian Ministry of Agriculture and Land Reclamation announced the release of 84,000 tons of corn and soybean feed from ports last week at a value of around $51 million, according to an official statement on December 5th.

In coordination with the Central Bank of Egypt (CBE), nearly 32,000 tons of corn and 52,000 tons of soybeans were released at a value of $11 million and $37 million, respectively.

Additionally, around $3 million worth of feed additives were also released from ports.

This brings total releases during the period from October 16th to December 1st to 960,000 tons at a value of $483 million, including 643,000 tons of corn, 317,000 tons of soybean and feed additives.