CAIRO: Egypt’s Purchasing Managers’ Index for non-oil business rose slightly in July to 46.4, up from a two-year low of 45.2, according to Standard & Poor’s Global.
Although the rise in the index was the largest seen in over a year, it still remains well-below the 50.0 crucial mark, signaling a deterioration in the non-oil sector’s operating conditions.
Suez Canal
Egypt’s Suez Canal Authority is considering listing three companies on the Egyptian stock market by the end of this year, its chairman told Al-Arabiya.
Osama Rabie explained that around 10 to 15 percent stake of the selected companies will be shared on the bourse, adding that studies are currently underway with the Ministry of Finance and Investment.
EFG Hermes
Egyptian Financial Group Hermes Holding has appointed Aladdin ElAfifi as the new CEO of its non-bank financial institutions, according to a statement.
With his appointment, the new official will hold the responsibility in leading the current EFG Hermes NBFI portfolio with the exception of the firm’s buy now, pay later fintech platform valU.