
EGX sees main indices barely holding onto the green zone amid Foreign selling
Cairo – March 10, 2025: The Egyptian Stock Exchange ended today's trading session on Monday with a collective rise in the indices.
Benchmark index EGX 30 closed with an increase of 0.02 percent, at a level of 31,125.5 points, with the Shariah index slipping 0.19 percent to reach 3,317.09 points.
EGX 70 inched upwards by 0.03 percent to reach 8,620.32 points, EGX 100 climbing up 0.11 percent to end the session with 11,969.41 points.
Monday trading reported over 1.181 billion shares exchanged with a turnover of LE 3.332 billion.
Market capitalization was recorded at LE 2.2891 trillion.
Trading on securities saw Egyptian and Arab investors as net buyers with LE 1.3 million and LE 137.2 million, respectively. Foreign traders were net sellers with LE 138.5 million.
Individual investors accounted for 68.75 percent of total market trading, while institutional investors made up 31.24 percent.
The top gains of the session were by Minapharm Pharmaceuticals which surged by 14.45 percent, Acrow Misr by 10.35 percent, and Upper Egypt Flour Mills by 6.48 percent.
The largest losses were by Asek Company for Mining – Ascom which fell by 5.52 percent, and El Ahram Co. For Printing And Packing by 3.7 percent.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Egypt Independent
5 days ago
- Egypt Independent
Egypt's inflation surges at fastest pace this year in May
Egypt's urban inflation rate saw its fastest acceleration of the year in May, reaching 16.8 percent year-on-year, up from 13.9 percent in April. This surge was primarily driven by increasing food prices, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Wednesday. This marks the third monthly acceleration in consumer price increases in Egyptian cities this year, following similar upticks in March and April. On a monthly basis, urban inflation stood at 1.9 percent in May, compared to 1.3 percent in April. Key drivers of inflationary pressure The rise in May was notably fueled by significant increases in food categories: fruit prices jumped 13.4 percent year-on-year, vegetables rose 2.1 percent, and fish increased by 2.4 percent. Additionally, prices for medical appliances and equipment saw a 6.9 percent increase. Central Bank's outlook and administrative decisions Despite the Central Bank of Egypt (CBE) noting a moderation in upward inflation risks in May, it cautioned that these risks 'remain present due to the effects of protectionist trade policies globally, escalating regional conflicts, and fiscal adjustment impacts exceeding expectations.' The CBE, in a statement accompanying its second interest rate cut this year on May 22, anticipated a continued decline in the annual general inflation rate for the remainder of 2025 and throughout 2026. It cited a slowdown in overall and core inflation, alongside a decrease in underlying inflation, as indicators of improved inflation expectations. Many of this year's inflationary pressures in Egypt have stemmed from administrative decisions. In April, Egypt raised fuel prices for the second time in six months, anticipating savings of LE35 billion in the current 2024-2025 fiscal year budget. This increase, averaging two LE per liter, affected all types of gasoline and diesel. Over the past year, the government has also increased prices for various goods and services. Metro and train ticket prices rose by 12.5 percent to 25 percent in August 2024 as part of efforts to reduce subsidies on essential services and goods. In a significant move, the price of subsidized bread was increased by 300 percent in May 2024, the first such hike in over three decades. This was followed by announced price increases for landline internet and mobile phone services, electricity, and construction materials, specifically cement and iron.


Egypt Today
6 days ago
- Egypt Today
Egypt Expands Export Rebate Program with LE 45 Billion Boost for 2025–2026
The Ministries of Investment and Foreign Trade, in collaboration with the Ministry of Finance, have officially launched an upgraded Export Burden Rebate Program for the 2025–2026 fiscal year, introducing broader support mechanisms and a restructured framework to empower Egyptian exporters. At the heart of the new program lies a significant financial expansion, with the total budget doubling to reach LE 45 billion. Of this amount, LE 38 billion is earmarked for targeted export sectors, while LE 7 billion has been allocated as a flexible reserve to respond to sector-specific challenges and emerging export opportunities. To guide equitable fund distribution, the government has adopted a comprehensive economic model that takes into account several key factors. These include value added by exports (50 percent), export growth rates (30 percent), production capacity (10 percent), and employment figures (10 percent). This structured approach ensures a data-driven and impact-oriented allocation process. The updated program introduces a two-tiered system of eligibility. Core criteria include export volume and the economic value generated, while additional factors consider broader developmental aspects such as participation in international trade fairs, penetration into strategic markets, branding efforts, logistics and transportation improvements, geographical expansion, adherence to international environmental standards, and energy efficiency. These additional criteria are weighted flexibly to reflect the varied priorities of each export sector. The LE 7 billion flexible reserve is specifically designed to target high-potential export products and launch incentive mechanisms based on the economic complexity of goods, starting with the engineering and chemical sectors. It will also support efforts to attract international companies to the Egyptian market, reinforce the growth of leading exporters, and fund infrastructure critical to export expansion. Among the standout features of the revamped program are its inclusivity, adaptability, and transparency. It supports businesses of all sizes — from small startups to large exporters — and offers clearly defined eligibility requirements alongside streamlined, timely disbursement. One of the most notable improvements is the commitment to settle dues within a maximum of 90 days, without deducting any outstanding tax liabilities, which marks a major step forward in restoring trust and boosting business confidence. The current 2024–2025 program, operating with a LE 23 billion budget, will continue without retroactive changes. For the first time, all disbursements under this cycle have been made within the promised 90-day period, and initial payments have been issued in full, free from tax-related deductions. To resolve longstanding arrears totaling LE 60 billion for shipments made before July 2024, the government has introduced a structured repayment mechanism. Half of the dues — approximately LE 30 billion — will be paid in cash over a period of four years. The remaining half will be offset through a clearing system that matches exporter claims with outstanding liabilities to government entities, including taxes, customs, utility providers, and social insurance institutions. In a joint statement, Minister of Investment Hassan El-Khatib and Minister of Finance Ahmed Kouchouk stressed that the revamped program was developed following extensive consultation with export councils. The government conducted detailed discussions with 13 sector-specific councils to gather insights, assess past challenges, and shape a solution-oriented strategy tailored to each sector's unique demands. The ministers emphasized that this initiative is part of a broader national agenda aimed at enhancing Egypt's overall investment landscape and export competitiveness. To support this, the government has adopted a flexible exchange rate, implemented supportive monetary policies, offered tax incentives, eased non-tax burdens, and introduced 29 specific trade facilitation measures to accelerate Egypt's integration into global markets. Concluding their remarks, Minister Kouchouk reaffirmed the government's commitment to business community collaboration, noting that LE 45 billion has already been allocated in the upcoming fiscal year's budget to support the new program. From 2019 to 2024, over LE 70 billion was disbursed to more than 2,800 exporting companies. For the first time, exporters' dues for the current fiscal year have been paid within the 90-day timeframe, demonstrating the government's resolve to create a predictable and business-friendly export environment.


Mid East Info
6 days ago
- Mid East Info
StashAway Appoints New Country Manager, Reaffirms Commitment to Financial Education in the UAE - Middle East Business News and Information
Raaed Sheibani will lead growth and financial inclusion efforts in the UAE Dubai, UAE –June 2025 – StashAway, a digital investment platform across Asia and the Middle East, has appointed Raaed Sheibani as its new country manager for the United Arab Emirates (UAE). His appointment comes as StashAway joins the Dubai International Financial Centre's (DIFC) '1 Million Learners' initiative as a founding partner, as part of StashAway's longstanding commitment to financial education in the UAE. Raaed will lead StashAway's strategic growth in the UAE, with a focus on empowering both young professionals and high-net-worth (HNW) individuals to build long-term wealth. Under his leadership, the company plans to broaden its private market and Shariah offerings, enhance customer experience, and expand financial education outreach in the UAE. 'The UAE is a strategic market for us. With its thriving expat community and a rising generation of young investors, we're seeing strong demand for sophisticated, globally diversified investment solutions,' said Michele Ferrario, Co-founder and CEO of StashAway. 'Raaed brings deep local insights and a genuine passion for financial inclusion – exactly what we need to drive our next chapter in the UAE.' Raaed brings a breadth of experience across fintech, strategy consulting, business development, and product management. Most recently, he was Head of Growth and Operations at Qlub, a global SaaS payments innovator, where he led customer and product development for the UAE. 'I'm excited to join a company that's truly focused on empowering people to invest, save, and learn,' said Raaed Sheibani. 'There's a clear need in the UAE for an investment platform that's simple, transparent, and cost-effective. I look forward to deepening our local impact by enhancing our offering to serve the unique needs of UAE investors and expanding our financial education efforts.' Driving financial inclusion through education and innovation: StashAway is a founding partner of DIFC's newly launched '1 Million Learners' Sustainability Initiative, which aims to equip one million people with essential knowledge in finance, sustainability, and technology. This builds on StashAway's longstanding commitment to financial literacy, delivered through: StashAway Academy: Free educational resources, including webinars, articles, and e-newsletters, that explain complex investment topics in simple, jargon-free language. Financial Wellness Programme: A non-commercial initiative that helps companies empower employees with essential financial knowledge, offered entirely free of charge. StashAway has also spearheaded innovation in the UAE's financial services industry. It introduced the country's first open banking-powered recurring deposit feature, allowing clients to automate investments through a partnership with Lean Technologies. In 2024, StashAway launched StashAway Reserve in the UAE – a dedicated offering for HNW investors. Reserve offers access to unbiased wealth advisory and private markets at significantly lower minimums and fees compared to traditional banks. StashAway is licensed by the Dubai Financial Services Authority (DFSA) to provide investment advisory and asset management services to both retail and professional clients in the UAE. About StashAway StashAway is a digital investment platform that was launched in 2017 to empower people to build and protect wealth in the long term. Offering simple, intelligent, and cost-effective investment and cash management solutions, StashAway has led the way in transforming the way people invest and grow wealth. Today, StashAway operates in five markets, Singapore, Malaysia, Hong Kong, the UAE, and Thailand, with billions of dollars in assets under management. The company was recognised by The World Economic Forum as a Technology Pioneer in 2020 and ranked among CNBC's World's Top Fintech Companies in 2023 and 2024. About Raaed Sheibani, Country Manager, UAE, at StashAway Raaed is the Country Manager for the UAE at StashAway, a leading digital investment platform. He is responsible for driving StashAway's strategic growth in the region, overseeing customer acquisition, education, partnerships, and operations. StashAway is known for its data-driven investment strategies and is trusted with billions of dollars by clients across Asia and the Middle East. Raaed brings a breadth of experience across fintech, strategy consulting, business development, and product management. Prior to joining StashAway, he was Head of Growth and Operations for the UAE at Qlub, a global SaaS payments company, where he shaped customer and product experiences. Raaed also spent several years in management consulting, including at McKinsey & Company, advising public and private sector leaders across the MENA region. Earlier in his career, Raaed was a Product Manager at CarSwitch, a leading automotive startup in the UAE. Raaed holds a Bachelor of Engineering in Electrical and Electronic Engineering from The University of Manchester.