Company: Sidi Kerir Petrochemicals
Symbols: EGS380S1C017
Reuters: SKPC.CA
Content: The company called on its Board of Directors to convene on 25/07/2019
Source: Sidi Kerir Petrochemicals

Nile Stock Exchange records a decrease of 0.26 % on Thursday 25 July 2019.recording 464.9 points on the shares of 9 companies during the 2,269 million shares executed over 462 transactions; the total value traded recorded 1,565 million. Total Market Cap LE 462 million

EGX 30 index closed at 13510.06 points recording 0.79% loss,
EGX 50 index closed at 2005.08 points recording 0.40 % loss, EGX 30 capped index closed at 16545.73 points recording 0.88% loss, EGX 70 index closed 532.96 points recording 0.02% gain, While EGX 100 index closed at 1375.77 points recording 0.08% loss on Thursday ,25 July 2019.

The total value traded recorded LE 1,013,598 billion while the total volume traded reached 122,842 million and 13,933 transactions. Total Market Cap LE 725,320,760,378.

For (Asek Company for Mining – Ascom) records 9.76% gains and closed at LE (7.760) followed by (Memphis Pharmaceuticals) Securities Brokerage EAC) Which 6.03% gains and closed at LE (9.150).

On the other hand (General Company For Land Reclamation, Development & Reconstru) records (9.80) % loss and closed at LE (10.400) followed by (Obour Land For Food Industries) recording (8.43) % loss and closed at LE (6.410).

The Egyptians controlled 82.17% of the value traded during the day recording net purchases of 62,055,389. Non-Arab foreign investor's accounted 30.67% recording net sales of LE 61,242,843.while Arab investor's captured 4.03 after excluding deals recording net sales of 812,546.The institutions accounted for 78.44%of the value traded, while the 21.55 % were for the individuals.

Company Name : Faisal Islamic Bank of Egypt
ISIN Code : EGS60321C014-EGS60322C012
Reuters Code : FAIT.CA-FAITA.CA
Content :
EGM minutes (before certification)
Assembly Date : 18/07/2019

EGM Minutes (1,917 KB)

Company Name : Dice Sport & Casual Wear
ISIN Code : EGS33321C018
Reuters Code : DSCW.CA
Content :
Release from FRA concerning company's capital increase.

FRA Release (25 KB)

Company Name : General Company For Land Reclamation,Development & Reconstruction
ISIN Code : EGS01081C016
Reuters Code : AALR.CA
Content :
Referring to the published announcement on trading screens on 18/07/2019 concerning an auction on 24/07/2019, a clarifying release was sent from the company concerning this.

The Release (179 KB)

Company Name : Union National Bank - Egypt "UNB-E"
ISIN Code : EGS60051C017
Reuters Code : UNBE.CA
Content :
Release was sent regarding the resignation of Mr. Mohamed Mostafa Ahmed.

The Release (168 KB)

Company Name : Rights Issue of Egyptian For Developing Building Materials-3
ISIN Code : EGS921S1C013
Reuters Code : EDBM_r3.CA
Content :
Release stating that the client\ Fath Elbab Sery Mahmoud Fath ELBAB purchased 157,479 shares of Rights Issue of Egyptian For Developing Building Materials-3, thus the percentage of his contribution reaches 5.10% of the company's shares.

The Release (30 KB)

Company Name : Sarwa Capital Holding
ISIN Code : EGS738I1C018
Reuters Code : SRWA.CA
Content :
Release from the company concerning the call for the AGM & EGM, which is scheduled to be held on 08/09/2019.

The Release (265 KB)

The price of Kuwait’s crude oil rose by 92 cents to reach $64.93 per barrel (pb) on Wednesday from $64.01 pb on Tuesday, according to the latest data showed by the Kuwait Petroleum Corporation (KPC).

Egyptian Investment Holding Group has sold its entire stake of 4.3% in Egyptians for Housing and Development (EHDR), Sigma Capital said.

Gold traded lower earlier on Thursday as the US dollar was close to multi-week peaks, while some investors booked profits ahead of monetary policy meetings by the world’s major central banks this month

Saudi-based Ajlan and Brothers seeks to obtain a land plot located on the Fayoum desert road to establish an industrial and residential complex in collaboration with Chinese investors and Egyptian real estate developers, the company’s vice chairman Mohamed Ajlan said in a statement

Electric car giant Tesla posted a net loss in the second quarter of this year, despite shipping a record number of vehicles.

Horizon for Real Estate Development plans to implement the multi-use commercial and medical project named Elite New Capital over 5,500 square metres in the New Administrative Capital.

The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MoF).

Volkswagen Group on Thursday announced that its post-tax earnings rose by 24.2% year-on-year in the second quarter of this year, as margins were boosted by growing demand for sports utility vehicles (SUVs) and luxury brands

Trading value for Thursday 25 July 2019 reached USD 0.12 million. 19,724 shares were traded through 23 transactions.

During the session 5 instrument(s) were traded, the prices of 1 instrument(s) rose, the prices of 4 instrument(s) decreased, while the prices of 0 instrument(s) remained unchanged.

The Stock Capitalization of the listed companies decreased by 0.32% to reach USD 8,325 million, against USD 8,352 million for the previous session.

Trading value for Thursday 25/07/2019 reached JD(4.9) million. (4.3) million shares were traded through (2,356).

The shares price index closed at (1880.39) point, a decrease of (0.26%).

The shares of (113) companies were traded, the shares prices of (38) companies rose, and the shares prices of (38) declined.

At the sector level, the Services index decreased by 0.60%, the Industrial index increased by 0.41%, and the Financial index decreased by 0.28%.

As for sub sector indices, the Media, Tobacco and Cigarettes, Pharmaceutical and Medical Industries, Chemical Industries, Mining and Extraction Industries, Diversified Financial Services sectors increased by 3.12%, 0.83%, 0.72%, 0.40%, 0.27%, 0.12% respectively. While the Hotels and Tourism, Technology and Communication, Utilities and Energy, Commercial Services, Food and Beverages, Banks, Educational Services, Textiles, Leathers and Clothings, Electrical Industries, Insurance, Transportation, Engineering and Construction, Real Estate sectors decreased by 1.52%, 1.13%, 0.52%, 0.49%, 0.43%, 0.34%, 0.30%, 0.20%, 0.19%, 0.09%, 0.03%, 0.03%, 0.02% respectively.

The top five gainers were, the Arab Aluminium Industry /aral by (6.94%), Assas For Concrete Products Co. Ltd by (6.25%), Jordan Decapolis Properties by (4.76%), Alshamekha For Realestate And Financial Investments by (4.46%), and International Brokerage & Financial Markets by (4.17%).

The top five losers were, International Cards Company by (5.88%), Jordan Vegetable Oil Industries by (4.71%), Sabaek Invest Company P.l.c by (4.65%), Zara Investement Holding by (4.55%), and Akary For Industries And Real Estate Investments by (4.19%).

Ahram online
and Gas (PLC), an Irish-traded oil and gas exploration and development company, has announced a plan to acquire of Rockhopper Egypt Ltd from Rockhopper Exploration Plc in a deal worth $16 million.
The purchase, according to a statement issued on Wednesday, includes a non-operated 22 percent interest in the Abu Sennan concession in Egypt, as well as the existing assets of the business.
The transaction comprises a deposit of $0.3 million, payable on the signing of the sale and purchase agreement, while a further $15.7 million is payable upon completion of the transaction, according to the statement.
The balance sheet on the effective date includes cash of $0.65 million and receivables of $1.7 million, adding that the cash consideration for the transaction is $16 million, which is to be funded through a combination of prepayment finance, equity in United and the company's existing cash resources.
"This is a truly transformational deal for United. Not only will it deliver our first production, positive cash flow and significant reserves, but, it also offers very promising infill and exploration upsides. Having reviewed many opportunities in the last 18 months, Rockhopper Egypt was by far and away the most exciting opportunity and the best strategic fit for our business,” CEO of United Oil and Gas Brian Larkin said.
Larkin added that United has already built a world class portfolio of assets, combining high impact exploration in Jamaica and Benin, with low risk, low cost European assets in the UK and Italy. This diverse portfolio is already offering shareholders a range of options for value enhancement. The proposed acquisition announced today would deliver production and cash flow to this already impressive stable.
The balance of the cash component of the transaction cost, along with working capital, will be funded by a placing of new ordinary shares in United Company, along with the use of existing cash resources, including the proceeds from the Company's recently announced Crown divestment.
Rockhopper Exploration Plc has agreed to accept up to $5 million in consideration shares. Any consideration shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion, according to Larkin.

Ahram online
The head of Egypt's Financial Regulatory Authority (FRA) Mohamed Omran has announced that the FRA is set to establish a new centre that offers consultancy services for sustainability in the Middle East and North Africa (MENA) region.
Omran said that the United Nations Conference on Trade and Development (UNCTAD) is a partner in establishing this centre, which will serve as a source of raising awareness about sustainable development in MENA as well as promote the concept of a green economy.
Omran made the comments during a meeting with the manager of the Investment and Enterprise Division at UNCTAD James Zhan on Wednesday.
“The centre will be responsible for introducing technical support and advice to investors and government bodies with the aim of achieving the 17 sustainable development goals announced during the UN General Assembly meeting in 2015,” Omran added.

Ahram Online ,
Some 69 percent of Egyptian respondents participating in Bloomberg's New Economy Forum "NEF" survey 2019 strongly agree or agree that China and India have eclipsed the U.S as the world's center of technology innovation in the future.
Bloomberg's NEF survey 2019 covers 20 countries, including 11 emerging-market countries. According to Bloomberg, 2,000 of business professionals were the sample of the NEF survey this year.
Here are the percentages of Egyptian respondents:
36 percent of Egyptian respondents , higher than the global average of 28 percent , strongly agree or agree with the prediction that "Opec has been disbanded". It is the third highest level of agreement of all surveyed markets.
47 percent of Egyptian respondents strongly agree or agree with the prediction that " from the Middle East to South Asia , the liberation of women is leading to an economic renaissance in the developing world".
31 percent of Egyptian respondents strongly disagree or disagree with the prediction that "From the Middle East to South Asia , the liberation of women is leading to an economic renaissance in the developing world." It is considered the highest level of disagreement of all surveyed market.
54 percent of Egyptian respondents , higher than the global average of 52 percent strongly agree or agree with the prediction that "The world's G-10 economies no longer use cash as a medium of exchange.
77 percent of Egyptian respondents , higher than the global average of 68 strongly agree or agree with the prediction that "The next world war is cyber war , as national security increasingly is defined by achievement in artificial intelligence , next generation 5G mobile networks and quantum computing".
69 percent of Egyptian respondents , high than the global average of 64 percent strongly agree or agree with the prediction that "lifelong learning, often delivered via mobile technology is helping workers across the globe successfully adapt to the job market challenges proposed by artificial intelligence".
50 percent of Egyptian respondents , the same as the global average of 58 percent , strongly agree or agree with the prediction that " self-driving car shares are more common than individually owned automobiles"
50 percent of Egyptian respondents , still lower than global average of 58 percent strongly agree or agree with the prediction that "We are reaching to point of no return on climate change. Business leaders are forced to plan for worse case scenarios that will devastate coastal parts of Southeast Asia , trigger mass migration in Africa and lead to war over scarce water resources.
54 percent of Egyptian respondents , higher than the global average of 52 percent strongly agree or agree with the prediction that "The first low lying country has been wiped off the map by the rising sea levels".

Ahram online
The head of Egypt's Financial Regulatory Authority (FRA) Mohamed Omran has announced that the FRA is set to establish a new centre that offers consultancy services for sustainability in the Middle East and North Africa (MENA) region.
Omran said that the United Nations Conference on Trade and Development (UNCTAD) is a partner in establishing this centre, which will serve as a source of raising awareness about sustainable development in MENA as well as promote the concept of a green economy.
Omran made the comments during a meeting with the manager of the Investment and Enterprise Division at UNCTAD James Zhan on Wednesday.
“The centre will be responsible for introducing technical support and advice to investors and government bodies with the aim of achieving the 17 sustainable development goals announced during the UN General Assembly meeting in 2015,” Omran added.

Ahram online
Egypt’s Ministry of Investment and Cooperation Sahar Nasr signed on Wednesday a $14 million agreement with the OPEC Fund for International Development (OFID) to establish two wheat silos in the western Port Said seaport.
Egypt’s Prime Minister Mostafa Madbouly said that this agreement comes as part of Egypt’s plan to achieve food security and ensure that the basic necessities of citizens are met.
Minister Nasr asserted the necessity of fully utilising Port Said harbour in shipment and storage operations.
Minister of Supply and Internal Trade Ali El-Meselhi said that the project aims to increase the storage capacity in Egyptian ports in order to reduce the burden on Damietta and Alexandria ports.
The project also aims to reduce the time consumed in transferring wheat from the ports to silos in the country's governorates, as well as create new job opportunities.
In the same vein, head of OFID Abel-Hamid El-Khalifa said that the fund is a key partner for Egypt to achieve strategic and developmental purposes in all service and economic sectors.
El-Khalifa said that OFID’s portfolio in Egypt stands at $750 million.

Ahram Online ,
IMF to put fifth review of Egypt’s economic reform program on agenda next Wednesday

IMF to hand Egypt final tranche of $12 Bln July 24: Prime minister

Egypt must complete its current reform program before negotiations of a new program: IMF

What comes after Egypt's agreement with the IMF concludes?

IMF reaches staff-level agreement to disburse final $2 billion tranche of loan to Egypt

The International Monetary Fund (IMF) has given the green light to disburse the final $2 billion tranche to Egypt, completing a $12 billion loan package.
“Egypt has successfully completed the three-year arrangement under the Extended Fund Facility and achieved its main objectives," David Lipton, Acting Managing Director and Chairman of the Board, said.

"The macroeconomic situation has improved markedly since 2016, supported by the authorities’ strong ownership of their reform program and decisive upfront policy actions. Critical macroeconomic reforms have been successful in correcting large external and domestic imbalances, achieving macroeconomic stabilization and a recovery in growth and employment, and putting public debt on a clearly declining trajectory."
The decision comes a few weeks after Egypt implemented a fresh round of fuel subsidy cuts, which raised domestic prices between 16 to 30 percent, bringing them in line with their real cost.

Egypt first reached a staff-level agreement with the IMF in August 2016 over the loan after the IMF endorsed the Arab nation's fiscal reform programme, which the government embarked on in 2014 in an attempt to curb the growing state budget deficit, estimated at 12.2 percent of the GDP in 2015/16.

Last month, Egypt said that it is in talks with the IMF for a non-loan programme, and hopes to reach an agreement by October.

Egypt is set to begin repaying the loan in tranches after five years of receiving the first tranche of the $2.75 billion in November 2016, shortly after it floated its currency in an unprecedented move.

Relying heavily on imports, Egypt suffered from an acute foreign currency shortage following the 2011 revolution and the ensuing unrest, which spooked investors and tourists before its economcy started to recover.

SPA -- Asian shares are mostly higher on Thursday, AP reported.
Japan's Nikkei 225 index added 0.2% to 21,756.55 while the Kospi lost 0.4% to 2,074.48. In Hong Kong, the Hang Seng gained 0.3% to 28,594.30. The Shanghai Composite index climbed 0.5%, to 2,937.36. Australia's S&P ASX 200 advanced 0.6% to 6,818.00. India's Sensex edged 0.2% higher to 37,911.43. Shares also rose in Southeast Asia.
Benchmark crude oil added 38 cents to $56.26 per barrel in electronic trading on the New York Mercantile Exchange. It fell 89 cents to settle at $55.88 a barrel on Wednesday. Brent crude oil, the international standard, picked up 48 cents to $63.66 per barrel. Overnight, it fell 65 cents to close at $63.18 a barrel.
The dollar fell to 108.09 Japanese yen from 108.10 yen. The euro weakened to $1.1133 from $1.1142.
--SPA

SPA -- SAGIA announces that it has signed a memorandum of understanding with GlaxoSmithKline Saudi Arabia (“GSK”), which will result in significant localization of GSK’s operations in the Kingdom.
As part of the agreement, GSK intends to expand the local manufacturing capacity of its innovative pharmaceutical portfolio and double its full manufacturing by 2022. GSK will also explore additional opportunities for technology transfer and to attract and develop more Saudi employees and local capabilities.
The agreement was signed in a ceremony in Riyadh today attended by Emin Fad?ll?o?lu, Emerging Markets Central Senior Vice President of GSK, Senior Vice President, GSK, Luciano Andrade, VP & General Manager of GSK Saudi Arabia, and HE Ibrahim Al Omar, Governor, SAGIA.
“Saudi Arabia has the highest expenditure on healthcare in the MENA region and with the population expected to grow by more than a quarter by 2030, there is real opportunity for international investors in the sector. This agreement reflects not only the potential for healthcare investment, but also for greater localization of healthcare manufacturing to meet that growing demand,” said HE Ibrahim Al Omar, Governor, SAGIA.
Luciano Andrade, VP & General Manager of GSK Saudi Arabia, said: “For over 65 years, GSK has been committed to improving patients’ access to innovative medicines across Saudi Arabia. The MoU we have signed today aims to expand our local manufacturing capacity in the areas of Respiratory, Antibiotics, HIV and Central Nervous Systems and reinforces our commitment to work with Saudi Government for a sustainable ecosystem that encourages innovation and investment in healthcare and Saudi talent development”.
Saudi Arabia has seen rapid growth in the number of investment licenses issued – the number of licenses issued in the first quarter of 2019 was 70% higher than that in the same period in 2018. There has been particularly strong growth in the number of UK companies; 24 licenses were awarded to UK firms in Q1 2019 alone – the equivalent of two a week.
GSK has been operating in Saudi Arabia for more than 65 years and was the first multinational pharmaceutical company to establish a manufacturing facility in the Kingdom in the early 1990s. Today, 80% of GSK medicines supplied to Saudi patients are manufactured at its facility in Jeddah.
--SPA

SPA -- The Standard & Poor’s 500 and Nasdaq indexes hit new record highs Wednesday.
The Dow Jones industrial average fell 79.15, or 0.3 percent, to 27, 270.04.
The broader Standard & Poor’s 500 index rose 14.09, or 0.5 percent, to 3,019.56.
The technology-heavy Nasdaq composite index rose 70.10, or 0.85 percent, to 8,321.56.
--SPA

SPA -- Amman Stock Exchange (ASE) Thursday opened trading with a drop to 1,879 points compared to 1,885 points of last session closure.
During the first 15 minutes of today's trading, the market index fluctuated between 1,879 points and 1,884 points with a trading volume of JD1.4 million, the ASE sources said.
--SPA

Investing.com –

Turkey stocks were higher after the close on Wednesday, as gains in the Leasing & Factoring, Chemical, Petroleum & Plastic and Wholesale & Retail Trade sectors led shares higher.
At the close in Istanbul, the BIST 100 added 0.88% to hit a new 3-months high.
The best performers of the session on the BIST 100 were Ihlas Holding AS (IS:IHLAS), which rose 9.30% or 0.040 points to trade at 0.470 at the close. Meanwhile, Gersan Elektrik Ticaret ve Sanayi AS (IS:GEREL) added 7.76% or 0.170 points to end at 2.360 and Ihlas Gayrimenkul Proje Gelistirme ve Ticaret AS (IS:IHLGM) was up 5.56% or 0.050 points to 0.950 in late trade.
The worst performers of the session were Is Gayrimenkul Yatirim Ortakligi AS (IS:ISGYO), which fell 2.94% or 0.030 points to trade at 0.990 at the close. VestelElektronik Sanayi ve Ticaret AS (IS:VESTL) declined 2.32% or 0.230 points to end at 9.700 and Metro Ticari ve Mali Yatirimlar Holding AS (IS:METRO) was down 1.80% or 0.020 points to 1.090.
Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 201 to 142 and 66 ended unchanged.
Gold Futures for August delivery was down 0.00% or 0.05 to $1421.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.19% or 0.11 to hit $56.66 a barrel, while the September Brent oil contract rose 0.27% or 0.17 to trade at $64.00 a barrel.
USD/TRY was down 0.39% to 5.6947, while EUR/TRY fell 0.48% to 6.3441.
The US Dollar Index Futures was down 0.03% at 97.393.

Investing.com –

Denmark stocks were higher after the close on Wednesday, as gains in the Healthcare, Software & Computer Services and Technology sectors led shares higher.
At the close in Copenhagen, the OMX Copenhagen 20 added 1.20%.
The best performers of the session on the OMX Copenhagen 20 were Novo NordiskA/S Class B (CSE:NOVOb), which rose 3.20% or 10.2 points to trade at 331.1 at the close. Meanwhile, Genmab (CSE:GMAB) added 1.77% or 21.5 points to end at 1238.5 and GN Store Nord (CSE:GN) was up 1.62% or 5.1 points to 320.7 in late trade.
The worst performers of the session were Vestas Wind Systems A/S (CSE:VWS), which fell 1.21% or 7.2 points to trade at 588.8 at the close. AP Moeller - Maersk A/S B (CSE:MAERSKb) declined 1.02% or 80 points to end at 7766 and Danske Bank A/S (CSE:DANSKE) was down 0.77% or 0.8 points to 103.0.
Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 63 to 58 and 21 ended unchanged.
Shares in Genmab (CSE:GMAB) rose to 52-week highs; up 1.77% or 21.5 to 1238.5.
Crude oil for September delivery was down 0.25% or 0.14 to $56.63 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.36% or 0.23 to hit $64.06 a barrel, while the August Gold Futures contract rose 0.12% or 1.75 to trade at $1423.45 a troy ounce.
USD/DKK was up 0.07% to 6.6974, while EUR/DKK rose 0.05% to 7.4676.
The US Dollar Index Futures was down 0.09% at 97.333.

Investing.com –

Russia stocks were lower after the close on Wednesday, as losses in the Oil & Gas, Telecoms and Manufacturing sectors led shares lower.
At the close in Moscow, the MOEX Russia declined 0.67% to hit a new 1-month low.
The best performers of the session on the MOEX Russia were RusHydro JSC (MCX:HYDR), which rose 2.24% or 0.0125 points to trade at 0.5700 at the close. Meanwhile, United Company Rusal Plc (MCX:RUAL) added 2.10% or 0.585 points to end at 28.425 and ALROSA ao (MCX:ALRS) was up 1.91% or 1.510 points to 80.760 in late trade.
The worst performers of the session were Gazprom PAO (MCX:GAZP), which fell 2.48% or 5.39 points to trade at 212.00 at the close. SG mechel (MCX:MTLR) declined 1.66% or 1.04 points to end at 61.73 and Moskovskaya Birzha OAO(MCX:MOEX) was down 1.65% or 1.51 points to 90.00.
Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 126 to 94 and 17 ended unchanged.
The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 0.61% to 19.880.
Gold Futures for August delivery was up 0.08% or 1.15 to $1422.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.26% or 0.15 to hit $56.92 a barrel, while the September Brent oil contract rose 0.72% or 0.46 to trade at $64.29 a barrel.
USD/RUB was down 0.09% to 63.1025, while EUR/RUB fell 0.13% to 70.3400.
The US Dollar Index Futures was down 0.06% at 97.357.

DUBAI — Two preliminary agreements between global trade enabler DP World and Indonesia’s leading conglomerate Maspion Group were signed today to create a $1.2 billion container port and industrial logistics park in East Java.

The exchange of agreements was witnessed by HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces, and Joko Widodo, President of Indonesia. Also present at the signing ceremony were the Indonesian Minister of Transportation, Budi Karya Sumadi, and Minister of State-Owned Enterprises (BUMN) Mrs. Rini Soewarno. It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion, within the context of co-operation in maritime services with the state-owned maritime services operator Pelindo III.

Two term sheet agreements* aim to create a modern, integrated container terminal and industrial logistics park, expected to play a vital role as a trade gateway for Eastern Java. It includes cooperation in setting up Maspion International Container Port in Gresik, East Java, with an investment of $1.2 billion and 3 million TEU’s of capacity using electric power in its operations to help cut carbon emissions.

An integrated 360 hectare industrial and logistics park could also provide a world class trade environment for Indonesian and international businesses to help drive economic growth and job creation.

The project is expected to break ground later this year and commercial operations are being planned for the first half of 2022. The vision is to support East Java’s infrastructure as part of President Joko Widodo’s program to accelerate economic growth.

Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO and Chairman of Ports, Customs & Free Zone Corporation, said: “This partnership will be a major addition to our global portfolio and a new step in our ongoing expansion. It will also enhance our continuing commitment to Indonesia, one of the most important world economies.

“Our business model and vision are aligned with President Jokowi’s commitment to continue his infrastructure focus and to make sure it is interconnected. We believe it will further consolidate the excellent relations between the UAE, the Indonesian government and Pelindo 3 and take DP World’s presence in the country to a new level”.

DP World ended its concession agreement with Pelindo 3 at the Surabaya Container Terminal in April 2019. The new agreements confirm a long-term strategic partnership in the economic development of the country which has been growing rapidly in recent years. Indonesia has the fastest rate of growth in electronic retail in South East Asia.

Dr Alim Markus, President Director and CEO of Maspion Group said: ”This collaboration is a major development for the two groups, and a new step in Maspion Group’s ongoing expansion.” — SG

Investing.com –

France stocks were lower after the close on Wednesday, as losses in the Foods & Drugs, Gas & Water and General Financial sectors led shares lower.
At the close in Paris, the CAC 40 fell 0.22%, while the SBF 120 index lost 0.11%.
The best performers of the session on the CAC 40 were Dassault Systemes SE (PA:DAST), which rose 4.68% or 6.30 points to trade at 140.95 at the close. Meanwhile, STMicroelectronics NV (PA:STM) added 3.56% or 0.605 points to end at 17.600 and TechnipFMC PLC (PA:FTI) was up 2.80% or 0.65 points to 23.89 in late trade.
The worst performers of the session were Veolia Environnement VE SA (PA:VIE), which fell 1.41% or 0.320 points to trade at 22.450 at the close. ArcelorMittal SA (AS:MT) declined 1.35% or 0.214 points to end at 15.678 and L’Oreal SA (PA:OREP) was down 1.28% or 3.20 points to 247.10.
The top performers on the SBF 120 were Nexity (PA:NEXI) which rose 10.76% to 43.84, Ingenico Group SA (PA:INGC) which was up 6.43% to settle at 82.42 and Dassault Systemes SE (PA:DAST) which gained 4.68% to close at 140.95.
The worst performers were Tarkett (PA:TKTT) which was down 17.83% to 16.50 in late trade, SEB SA (PA:SEBF) which lost 6.76% to settle at 151.70 and Technicolor (PA:TCH) which was down 4.66% to 0.696 at the close.
Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 281 to 278 and 88 ended unchanged.
Shares in Tarkett (PA:TKTT) fell to all time lows; falling 17.83% or 3.58 to 16.50. Shares in Ingenico Group SA (PA:INGC) rose to 52-week highs; gaining 6.43% or 4.98 to 82.42. Shares in Technicolor (PA:TCH) fell to all time lows; falling 4.66% or 0.034 to 0.696.
The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 6.61% to 13.32.
Gold Futures for August delivery was up 0.09% or 1.25 to $1422.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.30% or 0.17 to hit $56.94 a barrel, while the September Brent oil contract rose 0.72% or 0.46 to trade at $64.29 a barrel.
EUR/USD was down 0.04% to 1.1146, while EUR/GBP fell 0.54% to 0.8916.
The US Dollar Index Futures was down 0.07% at 97.352.

Investing.com –

U.K. stocks were lower after the close on Wednesday, as losses in the Automobiles & Parts, Mining and Industrial Metals & Mining sectors led shares lower.
At the close in London, the Investing.com United Kingdom 100 fell 0.65%.
The best performers of the session on the Investing.com United Kingdom 100 wereITV PLC (LON:ITV), which rose 6.59% or 7.00 points to trade at 113.25 at the close. Meanwhile, Informa PLC (LON:INF) added 6.53% or 54.00 points to end at 881.00 and Taylor Wimpey PLC (LON:TW) was up 3.86% or 6.45 points to 173.50 in late trade.
The worst performers of the session were Rio Tinto PLC (LON:RIO), which fell 4.60% or 222.00 points to trade at 4606.50 at the close. Standard Chartered PLC (LON:STAN) declined 4.51% or 32.20 points to end at 682.40 and BHP Group PLC (LON:BHPB) was down 4.00% or 81.70 points to 1960.80.
Falling stocks outnumbered advancing ones on the London Stock Exchange by 1100 to 1030 and 211 ended unchanged.
Shares in Informa PLC (LON:INF) rose to all time highs; up 6.53% or 54.00 to 881.00.
Gold Futures for August delivery was up 0.01% or 0.15 to $1421.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.04% or 0.02 to hit $56.75 a barrel, while the September Brent oil contract rose 0.44% or 0.28 to trade at $64.11 a barrel.
GBP/USD was up 0.48% to 1.2495, while EUR/GBP fell 0.53% to 0.8917.
The US Dollar Index Futures was down 0.03% at 97.393.

Investing.com –

Germany stocks were higher after the close on Wednesday, as gains in the Technology, Software and Construction sectors led shares higher.
At the close in Frankfurt, the DAX rose 0.26%, while the MDAX index climbed 0.52%, and the TecDAX index gained 1.18%.
The best performers of the session on the DAX were Covestro AG (DE:1COV), which rose 3.25% or 1.410 points to trade at 44.820 at the close. Meanwhile, Thyssenkrupp AG O.N. (DE:TKAG) added 3.01% or 0.350 points to end at 11.970 and Daimler AG NA O.N. (DE:DAIGn) was up 2.44% or 1.170 points to 49.215 in late trade.
The worst performers of the session were Deutsche Bank AG NA O.N. (DE:DBKGn), which fell 1.85% or 0.132 points to trade at 7.002 at the close. Beiersdorf AG O.N. (DE:BEIG) declined 1.67% or 1.800 points to end at 105.850 and Bayer AG NA (DE:BAYGN) was down 1.46% or 0.89 points to 60.10.
The top performers on the MDAX were Siltronic AG (DE:WAFGn) which rose 5.12% to 74.280, Norma Group AG NA O.N. (DE:NOEJ) which was up 4.56% to settle at 33.460 and Fraport AG (DE:FRAG) which gained 3.92% to close at 78.000.
The worst performers were Kion Group AG (DE:KGX) which was down 2.37% to 49.48 in late trade, Software AG (DE:SOWGn) which lost 1.96% to settle at 25.550 and Hugo Boss AG NA O.N. (DE:BOSSn) which was down 1.67% to 57.700 at the close.
The top performers on the TecDAX were Siltronic AG (DE:WAFGn) which rose 5.12% to 74.280, SLM Solutions Group AG (DE:AM3D) which was up 4.86% to settle at 11.66 and Aixtron SE NA O.N. (DE:AIXGn) which gained 4.22% to close at 8.5040.
The worst performers were Software AG (DE:SOWGn) which was down 1.96% to 25.550 in late trade, SMA Solar Technology AG (DE:S92G) which lost 1.87% to settle at 24.100 and Sartorius AG VZO O.N. (DE:SATG_p) which was down 1.45% to 190.200 at the close.
Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 432 to 258 and 70 ended unchanged.
Shares in Software AG (DE:SOWGn) fell to 3-years lows; losing 1.96% or 0.510 to 25.550. Shares in Software AG (DE:SOWGn) fell to 3-years lows; losing 1.96% or 0.510 to 25.550.
The DAX volatility index, which measures the implied volatility of DAX options, was up 3.02% to 14.33.
Gold Futures for August delivery was up 0.02% or 0.35 to $1422.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.07% or 0.04 to hit $56.73 a barrel, while the September Brent oil contract rose 0.41% or 0.26 to trade at $64.09 a barrel.
EUR/USD was down 0.09% to 1.1141, while EUR/GBP fell 0.54% to 0.8916.
The US Dollar Index Futures was down 0.02% at 97.395.

Investing.com –

Netherlands stocks were higher after the close on Wednesday, as gains in the Healthcare, Financials and Consumer Services sectors led shares higher.
At the close in Amsterdam, the AEX rose 0.20% to hit a new 5-year high.
The best performers of the session on the AEX were Akzo Nobel NV (AS:AKZO), which rose 3.89% or 3.21 points to trade at 85.71 at the close. Meanwhile, Koninklijke KPN NV (AS:KPN) added 2.75% or 0.071 points to end at 2.650 and ASML Holding NV (AS:ASML) was up 1.72% or 3.55 points to 209.45 in late trade.
The worst performers of the session were Randstad NV (AS:RAND), which fell 1.63% or 0.78 points to trade at 46.82 at the close. ArcelorMittal SA (AS:MT) declined 1.35% or 0.214 points to end at 15.678 and Galapagos NV (AS:GLPG) was down 1.08% or 1.750 points to 160.100.
Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 69 to 57 and 12 ended unchanged.
Shares in Akzo Nobel NV (AS:AKZO) rose to all time highs; up 3.89% or 3.21 to 85.71. Shares in ASML Holding NV (AS:ASML) rose to all time highs; gaining 1.72% or 3.55 to 209.45.
The AEX Volatility, which measures the implied volatility of AEX options, was up 2.95% to 11.83.
Crude oil for September delivery was down 2.18% or 1.24 to $55.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 1.60% or 1.02 to hit $62.81 a barrel, while the August Gold Futures contract rose 0.02% or 0.25 to trade at $1421.95 a troy ounce.
EUR/USD was down 0.13% to 1.1137, while EUR/GBP fell 0.49% to 0.8920.
The US Dollar Index Futures was up 0.02% at 97.438.

Investing.com –

U.S. stocks were mixed after the close on Wednesday, as gains in the Telecoms, Technology and Financials sectors led shares higher while losses in the Consumer Goods, Basic Materials and Utilities sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average fell 0.29%, while the S&P 500 index added 0.47%, and the NASDAQ Composite index gained 0.85%.
The best performers of the session on the Dow Jones Industrial Average were Intel Corporation (NASDAQ:INTC), which rose 2.26% or 1.17 points to trade at 52.92 at the close. Meanwhile, Visa Inc Class A (NYSE:V) added 1.34% or 2.43 points to end at 183.33 and Goldman Sachs Group Inc (NYSE:GS) was up 1.18% or 2.60 points to 222.03 in late trade.
The worst performers of the session were Caterpillar Inc (NYSE:CAT), which fell 4.48% or 6.19 points to trade at 131.91 at the close. Boeing Co (NYSE:BA) declined 3.12% or 11.64 points to end at 361.43 and UnitedHealth Group Incorporated (NYSE:UNH) was down 1.52% or 3.88 points to 251.13.
The top performers on the S&P 500 were Navient Corp (NASDAQ:NAVI) which rose 10.15% to 15.09, Edwards Lifesciences Corp (NYSE:EW) which was up 9.94% to settle at 214.88 and WW Grainger Inc (NYSE:GWW) which gained 9.07% to close at 304.07.
The worst performers were Amphenol Corporation (NYSE:APH) which was down 6.08% to 92.38 in late trade, Norfolk Southern Corporation (NYSE:NSC) which lost 5.94% to settle at 184.99 and FLIR Systems Inc (NASDAQ:FLIR) which was down 4.86% to 52.04 at the close.
The top performers on the NASDAQ Composite were SigmaTron International Inc (NASDAQ:SGMA) which rose 39.25% to 3.690, Jiayin Group Inc (NASDAQ:JFIN) which was up 26.94% to settle at 15.36 and Nuvectra Corp (NASDAQ:NVTR) which gained 26.70% to close at 2.61.
The worst performers were Obalon Therapeutics Inc (NASDAQ:OBLN) which was down 40.41% to 0.57 in late trade, Regulus Therapeutics Inc (NASDAQ:RGLS) which lost 34.82% to settle at 0.743 and Pluristem Therapeutics Inc (NASDAQ:PSTI) which was down 25.08% to 0.4260 at the close.
Rising stocks outnumbered declining ones on the New York Stock Exchange by 2150 to 847 and 98 ended unchanged; on the Nasdaq Stock Exchange, 1866 rose and 794 declined, while 87 ended unchanged.
Shares in Navient Corp (NASDAQ:NAVI) rose to 52-week highs; gaining 10.15% or 1.39 to 15.09. Shares in Edwards Lifesciences Corp (NYSE:EW) rose to all time highs; rising 9.94% or 19.42 to 214.88. Shares in Visa Inc Class A (NYSE:V) rose to all time highs; up 1.34% or 2.43 to 183.33. Shares in Regulus Therapeutics Inc (NASDAQ:RGLS) fell to all time lows; down 34.82% or 0.397 to 0.743. Shares in Pluristem Therapeutics Inc (NASDAQ:PSTI) fell to 5-year lows; losing 25.08% or 0.1426 to 0.4260.
The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 4.28% to 12.07 a new 3-months low.
Gold Futures for August delivery was up 0.31% or 4.45 to $1426.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 1.53% or 0.87 to hit $55.90 a barrel, while the September Brent oil contract unchanged 0.00% or 0.00 to trade at $63.12 a barrel.
EUR/USD was up 0.04% to 1.1144, while USD/JPY fell 0.03% to 108.14.
The US Dollar Index Futures was down 0.06% at 97.362.

Investing.com –

Canada stocks were higher after the close on Wednesday, as gains in the IT, Industrials and Clean Technology sectors led shares higher.
At the close in Toronto, the S&P/TSX Composite added 0.24% to hit a new 1-month high.
The best performers of the session on the S&P/TSX Composite were Sandstorm Gold Ltd . (TSX:SSL), which rose 5.42% or 0.460 points to trade at 8.950 at the close. Meanwhile, Pan American Silver Corp (TSX:PAAS) added 5.02% or 1.03 points to end at 21.54 and Canfor Corporation (TSX:CFP) was up 4.91% or 0.52 points to 11.12 in late trade.
The worst performers of the session were CannTrust Holdings Inc (TSX:TRST), which fell 21.87% or 0.7500 points to trade at 2.6800 at the close. Hexo Corp (TSX:HEXO) declined 5.23% or 0.3100 points to end at 5.6200 and NexGen Energy Ltd.(TSX:NXE) was down 3.48% or 0.070 points to 1.940.
Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 618 to 428 and 127 ended unchanged.
Shares in Sandstorm Gold Ltd. (TSX:SSL) rose to 5-year highs; rising 5.42% or 0.460 to 8.950. Shares in CannTrust Holdings Inc (TSX:TRST) fell to 52-week lows; losing 21.87% or 0.7500 to 2.6800.
The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 2.01% to 9.76 a new 52-week low.
Gold Futures for August delivery was up 0.31% or 4.45 to $1426.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 1.53% or 0.87 to hit $55.90 a barrel, while the September Brent oil contract unchanged 0.00% or 0.00 to trade at $63.12 a barrel.
CAD/USD was up 0.05% to 0.7611, while CAD/EUR rose 0.01% to 0.6829.
The US Dollar Index Futures was down 0.06% at 97.362.

Investing.com –

Australia stocks were higher after the close on Thursday, as gains in the Healthcare, IT and Industrials sectors led shares higher.
At the close in Sydney, the S&P/ASX 200 rose 0.61% to hit a new 5-year high.
The best performers of the session on the S&P/ASX 200 were Ioof Holdings Ltd (ASX:IFL), which rose 6.92% or 0.380 points to trade at 5.870 at the close. Meanwhile, Nufarm Ltd (ASX:NUF) added 6.03% or 0.280 points to end at 4.920 andNRW Holdings Ltd (ASX:NWH) was up 5.70% or 0.130 points to 2.410 in late trade.
The worst performers of the session were Iluka Resources Ltd (ASX:ILU), which fell 6.73% or 0.670 points to trade at 9.290 at the close. Northern Star Resources Ltd (ASX:NST) declined 5.83% or 0.810 points to end at 13.090 and Fortescue MetalsGroup Ltd (ASX:FMG) was down 5.50% or 0.480 points to 8.250.
Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 677 to 504 and 363 ended unchanged.
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.45% to 11.186.
Gold Futures for August delivery was up 0.11% or 1.55 to $1425.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.45% or 0.25 to hit $56.13 a barrel, while the September Brent oil contract rose 0.43% or 0.27 to trade at $63.45 a barrel.
AUD/USD was down 0.10% to 0.6969, while AUD/JPY fell 0.15% to 75.35.
The US Dollar Index Futures was down 0.01% at 97.447.

Investing--

Japan stocks were higher after the close on Thursday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.
At the close in Tokyo, the Nikkei 225 gained 0.22% to hit a new 1-month high.
The best performers of the session on the Nikkei 225 were Advantest Corp. (T:6857), which rose 20.23% or 700.0 points to trade at 4160.0 at the close. Meanwhile,CyberAgent Inc (T:4751) added 11.49% or 455.0 points to end at 4415.0 and Shin-Etsu Chemical Co., Ltd. (T:4063) was up 7.24% or 745.0 points to 11035.0 in late trade.
The worst performers of the session were Hitachi Construction Machinery Co(T:6305), which fell 2.89% or 80.0 points to trade at 2686.0 at the close. Canon Inc (T:7751) declined 2.79% or 87.0 points to end at 3036.0 and Dentsu Inc. (T:4324) was down 2.41% or 90.0 points to 3650.0.
Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2243 to 1223 and 284 ended unchanged.
Shares in Advantest Corp. (T:6857) rose to 5-year highs; gaining 20.23% or 700.0 to 4160.0.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00% to 14.95.
Crude oil for September delivery was up 0.63% or 0.35 to $56.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.49% or 0.31 to hit $63.49 a barrel, while the August Gold Futures contract rose 0.12% or 1.65 to trade at $1425.25 a troy ounce.
USD/JPY was down 0.10% to 108.06, while EUR/JPY fell 0.19% to 120.27.
The US Dollar Index Futures was up 0.02% at 97.472.

Insider Trading Executions: Trading Session 24/07/2019
Company Name : International Company For Fertilizers & Chemicals
Position : Related Parties
Type of Transaction : Buy
Volume : 70,039

Insider Trading Executions: Trading Session 24/07/2019
Company Name : Giza General Contracting
Position : Board Member
Type of Transaction : Buy
Volume : 3,000

Insider Trading Executions: Trading Session 24/07/2019
Company Name : Engineering Industries (ICON)
Position : Board Member
Type of Transaction : Buy
Volume : 50,000

Insider Trading Executions: Trading Session 24/07/2019
Company Name : Egyptian Gulf Bank
Position : Reward and Incentive System for Employees
Type of Transaction : Buy
Volume : 92,362

Insider Trading Executions: Trading Session 24/07/2019
Company Name : Al Arafa Investment And Consulting
Position : Related Parties
Type of Transaction : Sell
Volume : 1,432,629

Insider Trading Executions: Trading Session 24/07/2019
Company Name : Brothers Solidarity For Real Estate Investment&Food Security
Position : Board Member
Type of Transaction : Buy
Volume : 23,000

            

CPI FINANCIAL
The purchase will almost double Alghanim Group’s stake to about 33 per cent from a previous level of around 16.7 per cent.
Kuwait Investment Authority (KIA) has sold a 16.1 per cent stake in Gulf Bank to Alghanim Trading Group for KWD 152.93 million ($503 million), making the business conglomerate the biggest shareholder of the country's fourth-biggest lender.
Boursa Kuwait stated that the Kuwaiti sovereign wealth fund sold its 490 million shares stake in Gulf Bank at an initial price of 312 fils per share.
Alghanim, which has interests in manufacturing, automotive and food businesses, is controlled by Omar Kutayba Ahmad Alghanim, the Chairman of Gulf Bank.

Company Name : International Company For Fertilizers & Chemicals
Position : Related Parties
Type of Transaction : Buy
Volume : 70,039

Company Name : Giza General Contracting
Position : Board Member
Type of Transaction : Buy
Volume : 3,000

Company Name : Engineering Industries (ICON)
Position : Board Member
Type of Transaction : Buy
Volume : 50,000

Company Name : Egyptian Gulf Bank
Position : Reward and Incentive System for Employees
Type of Transaction : Buy
Volume : 92,362

Company Name : Al Arafa Investment And Consulting
Position : Related Parties
Type of Transaction : Sell
Volume : 1,432,629

Company Name : Brothers Solidarity For Real Estate Investment&Food Security
Position : Board Member
Type of Transaction : Buy
Volume : 23,000