Zawya.com - Egypt SE News

Pioneers Holding To Merge With Beltone Financial Holding

Sun, 08 Nov 2009 11:04:54 GMT

Pioneers Holding announcing that the Board of Director has approved the merger between the company and Beltone Financial Holding.

CICR: Hunting High Dividend Yields (04-Nov-09)

Wed, 04 Nov 2009 07:40:00 GMT

Hunting high dividend yields

Milling companies brought down the curtain on their recent AGM?s with the approval of their FY08/09 financial statements (ended June 30, 2009) and their proposed DPS. Alexandria Mills (AFMC) was the odd one out, increasing its DPS from LE 0.7/share to LE 0.75/share so as to match last year?s pay-out. Despite a 26% decline in aggregate earnings in FY08/09 (vs. FY07/08), milling companies maintained last year?s DPS. There was, inevitably an exception to the rule ? Central Egypt Mills (CEFM). CEFM decreased its DPS to LE 0.5/share (vs. LE 0.8/share a year ago).

NBD Opens and Renovates 28 Branches Across Egypt

Tue, 03 Nov 2009 14:47:07 GMT

As part of the National Bank for Development's commitment towards constant growth and development, the bank is opening and renovating 28 branches in governorates across Egypt.

Activity declines in ME IPO market in Q3 of 2009: E&Y

Mon, 02 Nov 2009 10:51:18 GMT

The initial public offering (IPO) market in the Middle East has declined according to the figures in the Ernst & Young Middle East IPO Update for the third quarter (Q3) of 2009.

CICR: Consumer Sector - Cofidence is trickling back (02-Nov-09)

Mon, 02 Nov 2009 07:47:00 GMT

Consumer confidence has started to return on seasonality, and is expected to be reflected in a positive performance for those consumer industries correlated with the overall business cycle. Despite encompassing a number of different industries, consumer sector companies are all reliant upon, and determined by, customer sentiment. Defensive industries such as the Food & Beverage have managed to remain largely sheltered from global recessionary trends whilst other industries, such as Consumer Durables, Electronics and Clothes ? all highly correlated with the economic business cycle ? have been severely impacted. While many consumer sectors were backed into a tricky economic corner (one characterised by reduced spending habits, a loss of consumer confidence, surplus inventories and lower demand) Oriental Weavers Carpets (OWC) found a way out. As a result, we have upgraded our recommendations for OWC ? the star in our coverage universe ? from Hold to BUY. Our other covered stocks include Eastern Company, Al-Arafa for Investment & Consultancies, Olympic Group (OG) and Raya Holding. We have upgraded EC from underweight to BUY. We maintain our Underweight recommendation for Al-Arafa, a HOLD recommendation for Olympic Group and SELL recommendation for Raya Holding.

Performance YTD: Year-to-date, the MENA Focus List has risen 44.7% versus 27.1% for the MSCI Arabian Markets Index and 18.5% for the MSCI Arabian Markets ex Saudi Arabia Index. The Focus List continues to lag the continued strength of emerging markets, with the MSCI Emerging Markets benchmark having risen 61.7% year-to-date.

Increasing High-Beta Names: We see growing institutional interest in MENA markets, which have lagged larger emerging markets in the 2009 rally. We believe that the ongoing resolution of Dubai?s debt should support performance in the UAE and our economists see strong growth underpinned by a fiscal stimulus across much of the region. Fund flows into EMEA and MENA-related funds are positive, and the global monetary environment favours continuing strength in risk assets. We therefore take profits on a number of lower

LINKdotNET signs on with Effective Measure

Thu, 29 Oct 2009 12:52:30 GMT

In a productive move, Online publishing giant LINKonLINE has further strengthened Effective Measure?s position as the de-facto audience measurement currency for the MENA region, electing to back the standard exclusively as a usual attempt from LINKonLINE to better serve its clients and fulfil their demands.

JLL: Pulse - MENA House View (Oct-09)

Thu, 29 Oct 2009 08:07:00 GMT

This is a PDF report.

Arab Cotton denies SpinAlex stake

Wed, 28 Oct 2009 08:08:48 GMT

Arab Cotton Ginning (ACGC) denied that it was in negotiations to acquire Misr Insurance?s stake in Alexandria Spinning and Weaving (SpinAlex), according to the stock exchange website.

Arab Cotton Ginning divests land holdings

Tue, 27 Oct 2009 06:55:30 GMT

Egypt's Arab Cotton Ginning Company (ACGC) is splitting off its real estate holdings from its core cotton production business by offering its land for real estate projects, chairman Hani Olama said.

Mobinil May Issue Local Bonds

Tue, 27 Oct 2009 06:53:02 GMT

The Egyptian Company for Mobile Services (Mobinil) said it is considering the issuance of local bonds in order to further finance its network expansion plans, the company said in a statement on the stock exchange website.

Orascom Development Ventures Into Montenegro

Mon, 26 Oct 2009 10:57:20 GMT

Orascom Development Holding (ODH) will acquire a 90 percent stake in Lustica Development AD Podgorica to develop a total area of 6.8 million square meters in Tivat, Montenegro.

Orascom Telecom to reduce paid-up capital

Mon, 26 Oct 2009 07:40:20 GMT

Orascom Telecom Holding (OTH) said it will reduce the company's paid-up capital, according to a statement on the stock exchange website.

Raya To Bid For Triple-Play License In Egypt

Mon, 26 Oct 2009 07:39:44 GMT

Raya Holding said it will bid for one of the two licenses offered by the National Telecommunications Regulatory Authority (NTRA) to provide integrated telecommunications services in closed residential compounds.

TresVista: MENA Monthly News (Oct-09)

Thu, 01 Oct 2009 11:11:00 GMT

This is a PDF report.