The poultry division of the Cairo Chamber of Commerce said that there is a slight decrease in prices, which is expected to decline in the coming days in light of the stability of the situation and the decline in demand relatively, as well as the high rates of production; thus increased supply in the market, which leads to price discipline and decline in the Next period.

The number of companies with the approval of the Authority for the issuance of electronic documents has reached 60% of the number of companies operating in the market, as part of the support of the Financial Supervisory Authority to transfer the insurance sector to the use of premium technology in the issuance and distribution of standard insurance, Which does not require complicated subscription steps, especially after the addition of personal accident insurance in the documents allowed to be issued electronically.

Total loan balances for banks' customers, excluding the central bank, rose by 16.55 billion pounds last February to reach 1.823 trillion pounds in February, compared with 1.8068 trillion pounds in the previous month.

European Union Ambassador to Cairo Ivan Sorcous said that the EU is Egypt's largest partner in about 30% of Egypt's trade with the world in recent years.

The Central Bank of Kuwait (CBE) announced a decline in the bank's securities portfolio for the second consecutive month in February.

During the last 24 hours, Damietta port has received two container ships and two general cargo ships, including a cargo of 10003 tons of wheat, while two container vessels and two general cargo ships have left.

Hisham Tawfiq, Minister of Public Enterprise, revealed to the world today that Emaar Misr Development Company and Al Nasr Housing have reached a final agreement to resolve the dispute in the city of Abu Dhabi.

The Red Sea Ports Authority announced that it achieved a circulation of 570 thousand tons of general cargo in the ports of the Authority during the month of April, an increase of 32% compared to the same period last year. The imports recorded 286 thousand tons, while exports recorded 284 thousand tons, an increase of 6% over the corresponding period of the year. the past .

 
Foreign investors' investments in government treasury bills rose by $ 650 million in March to reach $ 14.895 billion at the end of the period, compared to $ 14.245 billion at the end of February, the central bank announced today.

Banks' investments in government treasury bills fell by LE 6 billion in March, recording 703.482 billion pounds at the end of the month compared to LE 709.389 billion at the end of February.

Company Name : Delta Sugar
ISIN Code : EGS30201C015
Reuters Code : SUGR.CA
Content :
the Central Auditing Organization Report for the period ended on 31/03/2019 and the company's response on it.
The Report (503 KB)

Issuer Name : AlRehab For Securitization the Seventh Issue Tran C Aug 2023
ISIN Code : EGB69471S195
Reuters Code : EGREHB07C=CA
Interest Type : Floating
Coupon Interest : 17.19 %
Coupon Amount : EGP 1.3125479452
Coupon Number : 10
Coupon Date : 09/06/2019
Coupon Payment Date : 10/06/2019

Issuer Name : AlRehab For Securitization the Seventh Issue Tran B Aug 2021
ISIN Code : EGB69471S187
Reuters Code : EGREHB07B=CA
Interest Type : Floating
Coupon Interest : 16.59 %
Coupon Amount : EGP 1.2307030842
Coupon Number : 10
Coupon Date : 09/06/2019
Coupon Payment Date : 10/06/2019
Notes :
Bond Redemption: EGP 0.0393258503

Issuer Name : AlRehab For Securitization the Seventh Issue Tran A Sep 2019
ISIN Code : EGB69471S179
Reuters Code : EGREHB07A=CA
Interest Type : Floating
Coupon Interest : 16.04 %
Coupon Amount : EGP 0.114036255435
Coupon Number : 10
Coupon Date : 09/06/2019
Coupon Payment Date : 10/06/2019
Notes :
Bond Redemption: EGP 4.220779221

Company Name : Cairo Oils & Soap
ISIN Code : EGS30581C010
Reuters Code : COSG.CA
Content : EGX decided to resume trading on the company effective 22/05/2019 at 11:40 AM, as the company sent the AGM decisions held on 22/05/2019

Assembly Date : 22/05/2019

Company Name : Cairo Oils & Soap
ISIN Code : EGS30581C010
Reuters Code : COSG.CA
Content : EGX decided to resume trading on the company effective 22/05/2019 at 11:40 AM, as the company sent the AGM decisions held on 22/05/2019

Assembly Date : 22/05/2019

AGM And EGM Decisions (522 KB)

Company Name : Upper Egypt Flour Mills
ISIN Code : EGS30451C016
Reuters Code : UEFM.CA
Content :
EGX decided to resume trading on the company effective 22/05/2019 at 11:25 as the company sent the board of directors' meeting minutes held on 21/05/2019.

Company Name : Upper Egypt Flour Mills
ISIN Code : EGS30451C016
Reuters Code : UEFM.CA
Content :
EGX decided to resume trading on the company effective 22/05/2019 at 11:25 as the company sent the board of directors' meeting minutes held on 21/05/2019.

The Minutes (821 KB)

Company Name : Egyptian Starch & Glucose
ISIN Code : EGS30431C018
Reuters Code : ESGI.CA
Content :
The Board of Directors' decision held on 21/05/2019.
The Decision (392 KB)

Company Name : Al Bader Plastic
ISIN Code : EGS3A2Z1C015
Reuters Code : EBDP.CA
Content : Release from the company regarding the AGM to be held on 20/06/2019

The Release (968 KB)

Company Name : Cairo Oils & Soap
ISIN Code : EGS30581C010
Reuters Code : COSG.CA
Content :
EGX decided to suspend trading on the company effective 22/05/2019 till the announcement of a disclosure concerning EGX inquiries regarding the company's AGM & EGM decisions held on 22/05/2019.

Company Name : Upper Egypt Flour Mills
ISIN Code : EGS30451C016
Reuters Code : UEFM.CA
Content :
EGX decided to suspend trading on the company effective 22/05/2019 till the announcement of a disclosure concerning EGX inquiries regarding the company's Board of Directors' decisions held on 22/05/2019.

Trading value for Wednesday 22 May 2019 reached USD 2.74 million. 678,116 shares were traded through 08 transactions.

During the session 5 instrument(s) were traded, the prices of 2 instrument(s) rose, the prices of 1 instrument(s) decreased, while the prices of 2 instrument(s) remained unchanged.

The Stock Capitalization of the listed companies decreased by 0.04% to reach USD 8,636 million, against USD 8,639 million for the previous session.

SPA --Amman Stock Exchange (ASE) opened trading on Wednesday with a rise to 1,817 points compared to 1,816 points of last session closure, according to market sources.
The market index fluctuated between 1,817 points and 1,818 points in the first 15 minutes of today's session with a trading volume of JD 300,000.
--SPA

SPA -- U.S. stocks traded higher Tuesday.
The Dow Jones industrial average rose 197.43, or 0.8 percent, to 25,877.33. Twenty-five of the index’s 30 components gained, led by Intel and Caterpillar, which each surged more than 2 percent. Apple and United Technologies each climbed nearly 2 percent. Boeing advanced 1.7 percent.
The broader Standard & Poor’s 500 index rose 24.13, or 0.85 percent, to 2,864.36. Technology rebounded 1.5 percent, leading advancing sectors and partially recovering from Monday’s 2 percent plunge.
The technology-heavy Nasdaq composite index rose 83.35, or 1.1 percent, to 7,785.72, led by Apple and Intel. Netflix climbed 1.8 percent, and Facebook added 1.2 percent. Amazon shares declined slightly.
--SPA

Muscat: Two Omani diplomats will be honoured by the Government of Japan on Thursday at a ceremony to be held at the Imperial Palace in Tokyo.

“The Government of Japan announced on May 21, 2019 the conferment of the ‘The Order of the Rising Sun, Golden & Silver Star’ on Mohammed bin Yousuf Al Zarafi, Undersecretary of the Ministry of Foreign Affairs (MoFA) for Administrative and Financial Affairs and Ambassador Khalid bin Hashil bin Mohammed Al Muslahi, Chief of the Secretary General Office Department, MoFA in recognition of their outstanding contributions to the developments of friendly relations between Japan and the Sultanate of Oman,” the Embassy of Japan in Oman said in a press statement.

Mohammed Al Zarafi and Khalid Al Muslahi are former Ambassadors of the Sultanate of Oman to Japan. Zarafi served as Ambassador to Japan for seven years from 2000 to 2007 and Al Muslahi served as Ambassador for 10 years from 2008 to 2018.

During their tenures in Japan, both of the career diplomats have contributed to the promotion of mutual understanding between Japan and Oman and the enhancement of bilateral relations in various fields. They also contributed to the high-level visits and exchanges between the two countries.

Mohammed Al Zarafi and Khalid Al Muslahi will get an opportunity, along with other recipients of the Order, to have an audience with His Majesty Emperor Naruhito of Japan.

The Order of the Rising Sun was first introduced in 1875. It is the first ever order to be conferred by the Government of Japan.Times of oman

Muscat: A tender of Government Treasury Bills, issue number 492 was held at the Central Bank of Oman (CBO) this week.

The results of the issue are as follows: The total value of the allotted Treasury bills amounted to OMR22,500,000 for a maturity period of 91 days, from Wednesday May 22, until August 21, 2019.

The average accepted price reached 99.381 for every OMR100 while the minimum accepted price arrived at 99.375 per OMR100.

The average discount rate and the average yield reached 2.48236 per cent and 2.49782 per cent respectively.




The interest rate on the Repo operations with CBO is 2.936 per cent for the period from 21/5/2019 to 27/5/2019 while the discount rate on the Treasury Bills Discounting Facility with CBO is 3.686 per cent for the same period.

The Treasury Bills are short-term highly secured financial instruments issued by the CBO on behalf of the Government, which helps the licenced commercial banks to gainfully invest their surplus funds, with the added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the CBO. Furthermore, the Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government (MOF) may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.

Egypt’s minister of electricity announced that six electricity control centres are being established at a combined cost of EGP 5.4 billion.

In addition, 6,574 out of total 8,229 electricity substations were installed, replaced, and renewed across all governorates in the country, Mohamed Shaker said in a press conference on Tuesday.

The UK’s consumer price index (CPI), the headline gauge for the country’s inflation, edged up to 2.1% year-on-year in April, from 1.9% in March, official data showed on Wednesday.
The rate rose mainly due to a surge in prices for energy products fuels and airfares, which climbed by the timing of Easter, the Office for National Statistics (ONS) said.
However, the gain was partially offset by a fall across a slew of recreational and cultural goods, including computer games and package holidays.

The price of Kuwait’s crude oil decreased by 86 cents to settle at $72.1 per barrel (pb) on Tuesday, compared to $72.96 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC).

Oil futures settled lower on Tuesday on worries over the impact of Sino-American spat and the tensions in the Middle East on demand.
June Nymex WTI lost $0.11, or 0.2%, to close at $62.99 per barrel.

(CPI FINANCAI) Oman has hired a syndicate of international banks including HSBC and Standard Chartered for a planned international bond issuance which could go up to $2 billion in size.
The Sultanate’s finances have depleted owing to a slump in oil prices over the past few years, leading the government to rely on external funding, through bonds and loans, to refill its coffers, while it tried to implement fiscal reforms to reduce a widening budget deficit.

(Bloomberg) --Turkey has imposed settlement delays on sizable foreign-currency purchases by retail investors, saying that the restriction was intended to stem market speculation.
Turkish lenders are required to settle all retail transactions valued at $100,000 or higher one working day later.
Under the current system, transactions are settled on the same day.
Last week, authorities asked some of the nation’s primary dealers to support the government’s borrowing drive.

(CPI FINANCIAL)
CI Ratings has affirmed its BBB- long-term foreign currency rating (FCR) of Bank Muscat, National Bank of Oman (NBO) and Oman Arab Bank (OAB) with a stable outlook.
The rating agency stated that the stable outlook balances challenges relating to slower economic growth and still elevated credit risk against the Omani banking sector’s good financial position, sound risk management as well as prudent lending policies.
Bank Muscat, NBO and OAB’s FCR are set one notch above bank standalone ratings (BSR) of bb+, reflecting the moderate likelihood of official extraordinary support given the lenders’ position in the country, with well-established franchises and sizeable government shareholding as well as the government’s strong track record of providing assistance to the sector in need.
Additionally, the banks’ ratings are said to be driven by solid and strengthening capital ratios, sound loan asset quality metrics as well as large customer deposit base and resilient profitability ratios.
CI Ratings said that Bank Muscat has a good credit risk absorption capacity and its strong capital position would provide an additional buffer in the event of a significant weakening of asset quality.
Similarly, NBO’s ratings are supported by the bank’s generally sound financial metrics and performance, in particular, the solid capital position as well as sound liquidity and resilient profitability metrics, while OAB’s ratings are supported by the bank’s solid capital position, comfortable liquidity and resilient profitability.
However, the rating agency said that the Sultanate banking sector’s main challenges are due to the difficult operating environment, given that the economy and the public finances remain negatively impacted by low oil prices as well as elevated credit risk due to ongoing delays in payments by the government and the lagged effect of slower economic growth on asset quality.

Etihad Credit Insurance (ECI) has signed a reinsurance agreement with the Arab Investment and Export Credit Guarantee Corporation (Dhaman) to support the growth and expansion of the UAE businesses.
ECI stated that it will support international business expansion plans of UAE-based firms by covering higher risk percentage, which will strengthen and enable the businesses to explore wider opportunities thus broadening their regional and global footprint.
Massimo Falcioni, CEO at ECI, said, “The agreement supports ECI’s substantial role in the transformation of the UAE’s economy by driving the non-oil sectors as well as stimulating advancement in the various trade sectors.
Additionally, the collaboration will further allow ECI to cover more risks that will help UAE-based businesses to grow and compete in the international markets.”
The partnership between ECI and Dhaman will further enhance the inter-Arab trade and UAE exports globally, in line with the country’s non-oil diversification strategy and Vision 2021.

(Bloomberg) --Saudi Arabia’s sovereign wealth fund is weighing an initial public offering (IPO) of Tahakom, the Kingdom’s traffic-management firm.
The shares will be listed on the Kingdom’s stock exchange, Tadawul. A final decision hasn’t been made, and the parties may decide not to proceed with the sale or offer a different amount to the public.
The Public Investment Fund is transforming from a domestically-focused holding company into a major global investor under the Kingdom’s economic transformation programme, Vision 2030.
The fund aims to control more than $2 trillion by 2030, and currently has assets of about $290 billion. In addition to making international investments, the PIF is also developing new domestic industries as well as privatising some state-owned firms.
Saher was launched about 10 years ago as a country-wide system to monitor traffic flow through a network of cameras and radar.
A spokesman for Tahakom confirmed the company was considering an IPO without giving further details.

(Bloomberg) --Oil held gains on signs that Organisation of Petroleum Exporting Countries (OPEC) and its allies will extend production cuts beyond June, while prices remained capped by worsening trade relations between the US and China.
Saudi Energy Minister Khalid Al-Falih urged the OPEC+ coalition to stay the course on output limits.
The possible extension of supply curbs by OPEC and its allies could be a catalyst for oil to resume its rally after floundering over the past month.
Rising tension in the Middle East and involuntary output cuts from Venezuela to Russia have also been boosting prices, while rising stockpiles in the US and the breakdown in relations between the world’s two biggest economies keeps gains in cheque.
Al-Falih said the Kingdom is not fooled by crude prices and believes the market is still fragile.
Additionally, Russian Energy Minister Alexander Novak said his country would still comply with any agreed output limit until year-end, while suggesting he is open to relaxing the cuts.

(Bloomberg) --Egypt’s new banking law may raise the minimum capital requirements for lenders tenfold, in a move that could pave the way for mergers among the country’s smaller lenders, according to local newswire, the Middle East News Agency.
A draft of the law raises the amount of capital needed to EGP 5 billion ($294 million) from EGP 500 million.
Additionally, branches of foreign banks will require at least $150 million up from $50 million.
Yehia Abou Elfotouh, the Deputy Chairman of the National Bank of Egypt, said, “We are likely to see mergers and acquisitions for some small banks which are unable to raise capital.”
The increase in capital requirements would ensure sustainability and strengthen the financial foundations of banks, said Elfotouh.
Nancy Fahmy, the Head of Financials for the Middle East and North Africa at Renaissance Capital said that any of Egypt’s more than three-dozen banks have paid-in capital bases well below the proposed amount, adding that for listed banks, the strategies could include supporting their capital bases through their retained earnings via stock-dividend distribution.
Many banks in Egypt are supported by foreign parents who could also back their subsidiaries if needed, while for smaller, non-listed banks the possibility of M&A activity cannot be ruled out, Fahmy said

(Bloomberg) --Saudi Arabia’s sovereign wealth fund is weighing an initial public offering (IPO) of Tahakom, the Kingdom’s traffic-management firm.
The shares will be listed on the Kingdom’s stock exchange, Tadawul. A final decision hasn’t been made, and the parties may decide not to proceed with the sale or offer a different amount to the public.
The Public Investment Fund is transforming from a domestically-focused holding company into a major global investor under the Kingdom’s economic transformation programme, Vision 2030.
The fund aims to control more than $2 trillion by 2030, and currently has assets of about $290 billion. In addition to making international investments, the PIF is also developing new domestic industries as well as privatising some state-owned firms.
Saher was launched about 10 years ago as a country-wide system to monitor traffic flow through a network of cameras and radar.
A spokesman for Tahakom confirmed the company was considering an IPO without giving further details.

(CPI FINANCIAL) Saudi Aramco has signed an initial LNG sale and purchase agreement with Sempra Energy and also plans to take a stake in the project.
The state-owned oil giant stated that the agreement anticipates the negotiation and finalization of a definitive 20-year LNG sale-and-purchase agreement for five million tonnes per annum of LNG offtake from Phase 1 of the Port Arthur LNG export-project under development.
Additionally, the agreement also includes the negotiation and finalization of a 25 per cent equity investment in Phase 1 of Port Arthur LNG.
Amin Nasser, the President and CEO of Saudi Aramco, said, “The agreement with Sempra LNG is a major step forward in the company’s long term strategy to become a leading global LNG player.”
The deal, if completed, would be the first long-term LNG purchase by Saudi Arabia’s state oil giant, giving the company access to gas that it can ship home for use in power plants or trade on global markets.
“With global demand for LNG expected to grow by around four per cent a year and likely to exceed 500 million metric tons a year by 2035, we see significant opportunities in this market and we will continue to pursue strategic partnerships which enable us to meet rising global demand for LNG,” Nasser said.

Company Name : Wadi Kom Ombo Land Reclamation
ISIN Code : EGS01071C017
Reuters Code : WKOL.CA
Content : Release from the company regarding assigning renovation works for the internal reclamation of 100 feddan within the project of 21,800 feddans in Bahariya Oasis worth EGP11679713

The Release (528 KB)

Company Name : Arab Real Estate Investment CO.-ALICO
ISIN Code : EGS65011C016
Reuters Code : RREI.CA
Content : Referring to the Company's financial statements for the period ended 31/03/2019 posted on the trading screens on 15/05/2019, the company sent the board of directors' meeting minutes held on 14/05/2019

The Minutes (390 KB)
News Attachement (504 KB)

Company Name : Heliopolis Housing
ISIN Code : EGS65591C017
Reuters Code : HELI.CA
Content : The company's estimated budget for the year 2019/2020

Estimated Budget (7,397 KB)

Company Name: Upper Egypt Flour Mills
ISIN Code: EGS30451C016
Currency: Egyptian Pound
F/S (Consolidated) Period: From 01/07/2018 to 31/03/2019
Net profit: 118,828,034
F/S (Consolidated) Period: From 01/07/2017 to 31/03/2018
Net Comparative profit: 148,685,942
Audit Status: Reviewed
Source: Upper Egypt Flour Mills

Taking minority rights into consideration

Company Name: Upper Egypt Flour Mills
ISIN Code: EGS30451C016
Currency: Egyptian Pound
F/S (Consolidated) Period: From 01/07/2018 to 31/03/2019
Net profit: 118,828,034
F/S (Consolidated) Period: From 01/07/2017 to 31/03/2018
Net Comparative profit: 148,685,942
Audit Status: Reviewed
Source: Upper Egypt Flour Mills

Taking minority rights into consideration
The Financial Statements (6,018 KB)

Company Name : Marsa Marsa Alam For Tourism Development
ISIN Code : EGS70P91C010
Reuters Code : MMAT.CA
Content : Release from the company regarding the AGM to be held on 18/06/2019

The Release (392 KB)

Company Name : Medinet Nasr Housing
ISIN Code : EGS65571C019
Reuters Code : MNHD.CA
Content : AGM and EGM minutes before certification,Note that the EGM which was scheduled to be held on 15/05/2019 has been postponed to 28/05/2019 due to the lack of quorum of the Assembly
Assembly Date : 15/05/2019

AGM & EGM Minutes (4,624 KB)

Company Name : Juhayna Food Industries
ISIN Code : EGS30901C010
Reuters Code : JUFO.CA
Content :
The EGM minutes held on 2019/03/07 (Certified), including GAFI's notes
Assembly Date : 07/03/2019

EGM Minutes (1,162 KB)

Company Name : Obour Land For Food Industries
ISIN Code : EGS30AL1C012
Reuters Code : OLFI.CA
Content : Referring to the announcement posted on 15/05/2019 regarding the minutes of the Board of Directors meeting held on 14/05/2019, the company sent a correction regarding the BOD eighth resolution

The Minutes (1,424 KB)
News Attachement (329 KB)

Company Name : Global Telecom Holding
ISIN Code : EGS74081C018
Reuters Code : GTHE.CA
Content :
EGM minutes before certification
Assembly Date : 15/05/2019

EGM Minutes (10,787 KB)