Egyptian Media Production City (EMPC) logged consolidated net profit amounting to EGP 801.400 million

HD Bank generated 89.9% year-on-year (YoY) higher net profits after tax at EGP 12.454 billion in 2024

El Arabia for Land Reclamation turned profitable at EGP 3.047 million in the first half (H1) of fiscal year (FY) 2024/25

Egypt’s real gross domestic product (GDP) is predicted to hit 4.2% in the current fiscal year (FY) 2022/2023, compared to a growth rate of 6.6% in the previous FY, according to the Ministry of Finance’s draft budget report.

General Company for Land Reclamation, Development, and Reconstruction (AALR) achieved net profits after tax of EGP 3.02 million in the first half (H1) of fiscal year (FY) 2022/2023, versus net losses of EGP 31.62 million in the FY-ago period, according to financial indicators filed to the Egyptian Exchange (EGX) on January 31st.

Misr Oils and Soap Company (MOSC) achieved net profits after tax of EGP 492,000 during the first half (H1) of the current fiscal year (FY) 2022/2023, versus net losses of EGP 2.50 million in the comparable period a FY earlier, according to the unaudited financial indicators filed to the Egyptian Exchange (EGX) on February 1st.

Extracted Oils and Derivatives Company’s (ZEOT) net profits after tax declined 86.5% year-on-year (YoY) in the first half of fiscal year (FY) 2022/2023 to EGP 3.216 million from EGP 28.830 million, according to a filing to the Egyptian Exchange (EGX) on February 1st.

The International Monetary Fund (IMF) has downgraded its forecast for Egypt’s real gross domestic product (GDP) for fiscal year (FY) 2022/2023 to 4% from its previous projection of 4.4%, according to the IMF’s World Economic Update report for January.

AXA Egypt is targeting achieving a growth rate of 30% in its premium portfolio for fiscal year (FY) 2022/2023, according to an emailed press release to Arab finance on January 12th.

Arab Company for Land Reclamation (Arclam) (EALR) recorded a net loss of EGP 4.855 million after tax for the period ended December 31st, 2022, according to the unaudited financial statement sent to Egyptian Exchange (EGX) on Tuesday.

Egypt's President Abdel-Fattah El-Sisi is scheduled to arrive in New Delhi, India, on Tuesday, January 24th, in a three-day visit to participate for the first time ever in the South Asian country’s 74th Republic Day celebrations as the chief guest, India's Ministry of External Affairs said in a statement on January 21st.

The strategic objectives and financial targets of the government financial budget draft for the upcoming fiscal year (FY) 2023/2024 will be discussed in a community dialogue within the next few weeks, according to a statement by the Egyptian Ministry of Finance on January 23rd.

Alexandria Mineral Oils Company (AMOC) reported a consolidated net profit increase of 146% year-on-year (YoY) for the first half (H1) of fiscal year (FY) 2022/2023, according to the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) on Tuesday.

Egypt allocated a total of EGP 7.9 billion in the current fiscal year (FY) 2022/2023 budget to implement various projects in the Red Sea governorate, marking an 88% increase from the previous FY plan, according to a statement by the Planning Ministry on January 21st.

Egyptian Ministry of Planning and Economic Development will invest EGP 13.3 billion in Matrouh Governorate under the fiscal year (FY) 2022/2023 plan, minister Hala El-Said announced in a statement on January 28th.

Iron and Steel for Mines and Quarries (ISMQ) posted a 408.44% year-on-year (YoY) surge in net profit after tax in the first half (H1) of fiscal year (FY) 2022/2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on January 29th.

Misr Chemical Industries Company (MICH) reported a 191% year-on-year (YoY) hike in net profit after tax for the first half (H1) of fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX) on January 29th.

S&P Global Ratings has affirmed the local and foreign currencies credit ratings of Egypt at “B”, with a stable outlook for the second time in three months, Minister of Finance Mohamed Maait said in a statement on January 27th.