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Daily News Egypt
3 days ago
- Business
- Daily News Egypt
CI Capital sets TMG share target price at EGP 152, sees 184% upside
CI Capital has set a target price of EGP 152 for the shares of Talaat Moustafa Group Holding (TMG), representing a 184% upside from its current price of EGP 53.3, citing the developer's 'meticulously executed strategic transformation.' In a research note, the investment bank said its valuation reflects the value of the company's commercial and residential projects, including the South Med development, as well as its expansion into Saudi Arabia and planned projects in Iraq and Oman. The valuation also incorporates TMG's hospitality portfolio. CI Capital said the current market price for TMG's stock does not reflect the full value of the group's projects in Egypt and abroad, particularly the growth in foreign currency revenues from its regional expansion with the launch of the Banan project in Saudi Arabia and the acquisition of seven hotel companies with a portfolio of 5,000 rooms. The report noted that TMG's cross-border expansion is supported by strong demand, government backing, and a self-financing model, which reduces risk and allows for attractive rates of return. Ongoing hotel renovations and efforts to improve contracts with hotel operators are also expected to boost financial efficiency, the note added. The investment bank forecast that TMG would achieve contractual sales of EGP 431bn in the current year, with about 85% of that coming from the Egyptian market. It projected that the group's projects outside Egypt would contribute more significantly to total sales from next year, accounting for an estimated 27% of the total, up from about 15% expected this year. CI Capital also projected a three-year compound annual growth rate (CAGR) of 24% for TMG's revenue, driven by its residential and hospitality sectors, with an average gross profit margin of approximately 37%.
Sky News
30-07-2025
- Health
- Sky News
A PATTERN OF DEADLY ATTACKS ON GAZA FAMILIES By Ben van der Merwe, Michelle Inez Simon, Kaitlin Tosh and Sophia Massam
This is Ahmed Al-Hatta. He was killed by an Israeli strike on his family home on 18 March. The strike took place at around 3am - when he was with his wife and their six children . All of them were killed. The youngest, twin girls Banan and Janan, were just six years old. Many more families were killed in their homes that night, by far the deadliest since late 2023. By sunrise, the Al-Hattas were among at least 242 people killed. By the end of the day, the total would stand at 465. Since then, over 8,500 people have been killed. That has brought the total number of fatalities during the conflict to over 60,000. Data shared exclusively with Sky News by Gaza's health ministry allows us, for the first time, to show the date of every death since the war began. Click to read how Sky News verified the data. Across almost two years of war, 17 days stand out as the deadliest – those when more than 450 people died. Women and children made up a much higher share of deaths on these days than on others. Looking further into the data, we found out why – a pattern of strikes on family homes. Click to read how Sky identified families in the data Almost half of all people killed on these days (44%) died alongside a family member, compared with less than a third (30%) on other days. Strikes on families reached their peak on 18 March, accounting for almost two-thirds of all deaths. The Israeli military said it was targeting Hamas, but most of those killed were women and children. Mourners pray next to the bodies of Palestinians killed in Israeli strikes, at Al-Aqsa Martyrs hospital in the central Gaza Strip on 18 March. Pic: Reuters/Ramadan Abed In order to understand how those strikes led to so many civilian casualties, Sky News analysed all 465 deaths recorded that day by Gaza's health ministry. Out of 112 strikes verified by Sky News, just 16 killed known or suspected Hamas officials and militants. On average, nine family members were killed alongside them. The 11 deadliest strikes on that day, those which killed 10 or more people, all took place before dawn – when families were most likely to be at home and sleeping. These 11 strikes killed six Hamas militants, along with 207 of their neighbours and family members "It's reasonable to expect when people go home at night they... will be surrounded by family members," says Brian Finucane, who spent a decade advising the US State Department on conflict law. In April 2024, Israeli outlets +972 and Local Call reported, based on conversations with six anonymous Israeli intelligence officers, that the Israel Defense Forces (IDF) was routinely targeting suspected militants in their homes at night. The officers reportedly said that this was "because, from what they regarded as an intelligence standpoint, it was easier to locate the individuals in their private houses". "It seems clearly an excessive use of force and not proportional." Dr Craig Jones, a senior lecturer at Newcastle University and an expert in conflict law, has been interviewing survivors of such attacks, which he terms "familicide". He says Israel has previously demonstrated the ability to wait until targets have left their family home before striking. "They're also showing now a capacity to wait, but... [they're now] waiting for the operative to go into a place where civilians are living," he says. "It seems clearly an excessive use of force and not proportional." In response to Sky's findings, an IDF spokesperson said its directives instruct commanders to apply the basic rules of the law of armed conflict, "particularly distinction, proportionality, and precautions". "Exceptional incidents are subject to lessons-learned processes and are thoroughly examined and addressed by the appropriate enforcement mechanisms," they added. "The IDF remains committed to the rule of law and will continue to operate in accordance with [the law of armed conflict]." Hamas did not respond to a request for comment. Palestinians inspect the site of an Israeli strike on a residential building in Jabalia in northern Gaza on 18 March. Pic: Reuters/Mahmoud Issa How the attacks on 18 March unfolded At around 8pm on the evening of 17 March, Palestinians started to notice flares in the skies over Gaza City. It was two months since a fragile ceasefire had been agreed, and negotiations over a second phase were about to collapse. Shortly after midnight, the bombing began. Using satellite imagery and more than 30 geolocated videos from social media, Sky's Data and Forensics Unit has mapped the violence that unfolded that night. The first airstrike, in North Gaza, was reported at 12.46am. Within minutes, there were reports of explosions across Gaza. Residents captured footage of the strikes as they landed through the night, like this video from Gaza City. Rescue workers immediately began searching the rubble for the dead and wounded. This video was posted at 2.53am. As the sun rose, bombs continued to fall on family homes. That included the home of Abdulqader and Wafa al Salihi, who lived with their one-year-old son Nasser in a block of flats in central Gaza. All three were killed in a strike on their building, along with Wafa's eight-year-old nephew. Sky News found no evidence that either parent had any ties to Hamas. Elsewhere, Palestinians surveyed the damage from the night before. The strike on this house killed Mohammed al Madi and his two adult daughters. One of the deadliest strikes on a family home that night, and among the deadliest of the entire war, happened here in eastern Rafah. The strike, which took place at around 1am, hit the home of the Jarghoun family. Among those killed were 71-year-old Eid Jarghoun and three of his adult children. Two of them were killed alongside their own wives and children. In total, 17 family members were killed, including four women and seven children. The youngest victim, Lian, had celebrated her second birthday just five days earlier. The video below, verified by Sky News, shows their bodies being retrieved from the rubble of the house. The IDF told Sky News that one of those killed, Jihad Jarghoun, ran a weapons manufacturing workshop for Hamas. Sky News could not independently verify this claim. Conflict-monitoring group Airwars, which has compiled reports on over 1,100 Gaza airstrikes, says the IDF frequently assassinates targets at night in their family homes, leading to large-scale civilian casualties. "This is actually the conflict we have documented with more families killed alongside each other than any other conflict we've looked at over the last decade," says Airwars executive director Emily Tripp. View of destruction in North Gaza, as seen from the Israeli side of the border between Israel and Gaza, 18 March 2025. Pic: Reuters/Amir Cohen As the number of deaths in Gaza passes 60,000, there is still no end to the war in sight. At around 10.30pm on Monday night, a bomb hit the tent of the Agha family, killing the parents, uncle and brother of 11-year old Safa al Agha. On Tuesday morning, Safa mourned over the body of her mother. "We haven't been happy yet," she said. "We were sitting in the living room, then all of sudden..." "Who did you leave us for?" she said. "My dear mama, may God have mercy on you." The Data and Forensics team is a multi-skilled unit dedicated to providing transparent journalism from Sky News. We gather, analyse and visualise data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite images, social media and other open source information. Through multimedia storytelling we aim to better explain the world while also showing how our journalism is done. CREDITS Data journalism: Ben van der Merwe Reporting: Ben van der Merwe, Kaitlin Tosh, Michelle Inez Simon and Sophia Massam Editors: Chris Howard and Natasha Muktarsingh Production: Michelle Inez Simon, Mary Poynter, Kaitlin Tosh and Reece Denton Shorthand development: Kate Schneider and Kaitlin Tosh Graphics: Taylor Stuart, Annie Adam and Bria Anderson Top Built with Shorthand
Yahoo
29-07-2025
- Business
- Yahoo
Asara Resources secures $16m for Guinea gold project
Asara Resources has secured firm commitments to raise A$25m ($16.4m) through an institutional placement of new fully paid ordinary shares to fund its exploration activities at the Kada gold project in eastern Guinea, West Africa. The placement involves the issuance of 500 million new shares at A$0.05 each. It saw strong support from both existing institutional shareholders and new investors from Australia and internationally. The first tranche of the placement will raise approximately A$13.76m through the issuance of 275.2 million new shares and is expected to settle by 1 August 2025. The second tranche, pending shareholder approval, aims to raise an additional A$11.24m by issuing 224.7 million new shares. Asara CEO Matthew Sharples said: 'We are delighted with the results of the placement and are pleased to welcome new investors to the share register. The strong demand from high-quality institutional investors reflects the significant growth potential of the Kada gold project and demonstrates a strong vote of confidence in the Asara team and our strategy to expand our land package and our systematic and structured exploration programme aimed at significantly growing the current mineral resource at Kada. 'This raising ensures that the company is well positioned for the next 12–18 months of exploration, and I am looking forward to updating the market as exploration at Kada progresses.' Proceeds from the placement will be used for exploration activities. These activities will encompass resource extension and infill drilling at the Massan site, as well as reverse circulation and auger drilling operations at the newly acquired Talico and Banan licences. Comprehensive mapping, trenching and geophysical surveys are also planned across the entire project area. Additionally, the investment will support enhancements to the exploration camp, cover transaction-related expenses and bolster the company's general working capital. Canaccord Genuity (Australia) and Argonaut Securities were joint lead managers and bookrunners, with Tamesis Partners being co-manager for the placement. "Asara Resources secures $16m for Guinea gold project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Daily News Egypt
24-06-2025
- Business
- Daily News Egypt
TMG named top Developer at Egypt's Top 100 List
Talaat Moustafa Group (TMG) Holding was named Egypt's top real estate developer for 2025 and topped a list of the country's 100 strongest companies at the Egypt toward the Best Summit held on Monday under the patronage of Prime Minister Mostafa Madbouly. The summit, organised to honour influential companies and figures in the Egyptian economy, awarded TMG Holding, led by CEO Hisham Talaat Moustafa, its most prominent prize by placing it first on the 'Top 100' list. According to the organisers, the list is compiled by Amwal Al Ghad magazine and investment banks, based on a study of companies listed on the Egyptian Exchange, using criteria including revenues, net profits, market value, and assets. TMG also won the award for the Number One Real Estate Developer in Egypt. Organisers attributed this to the company securing the largest share of the Egyptian market in 2024, accounting for 43% of total sales estimated at EGP 1.17 trillion. TMG achieved contractual sales of EGP 504 billion last year, representing 253% growth. The summit's organisers classified TMG as the largest real estate developer in Egypt, with a land portfolio of 125.9 million square metres across Egypt, Saudi Arabia, Oman, and Iraq. The company's sales nearly tripled in 2024, driven by the launch of its Banan project in Saudi Arabia and the South Med project in Egypt, which has generated EGP 352 billion in sales since its launch in July 2024. The company's projects include the integrated cities of Al-Rehab and Madinaty in New Cairo, the Celia project in the New Administrative Capital, and the Noor smart city in Capital Gardens. Omar Abdel Rahman, TMG's Deputy CEO for Marketing, accepted the awards on behalf of the CEO in the presence of the ministers of local development and labour. The summit, held under the theme 'Makers of Achievement… An Eye on the Future,' was attended by senior officials including Presidential Advisor for Economic Affairs Hala El-Said, Financial Regulatory Authority Chairman Mohamed Farid, Egyptian Exchange Chairman Ahmed El-Sheikh, and the heads of the Egyptian Space Agency and the Grand Egyptian Museum.
Egypt Today
17-06-2025
- Business
- Egypt Today
TMG climbs to 4th in Forbes' Top 50 Public Companies in Egypt' list on surging sales, assets
Talaat Moustafa Group Holding (TMG) has climbed to fourth place on the Forbes Middle East list of 'Top 50 Public Companies in Egypt for 2025', following a substantial increase in sales and assets. The real estate developer was also named the leading company in its sector for the year. The company advanced two places to secure the fourth position. The ranking reflects growth that saw the company's sales rise to $837m from $593m, while net profits increased to $284m from $70m. Total assets grew to $7bn from $4.2bn. TMG's performance was supported by its operations as Egypt's largest real estate developer, with a land portfolio of 125.9 million square metres across Egypt, Saudi Arabia, Iraq, and Oman. In 2024, the group's sales tripled to $10bn, driven by the launch of the 'Banan' project in Saudi Arabia and the 'SouthMed' project in Egypt. The 'SouthMed' project has generated $7bn in sales since its launch in July 2024. In 2025, TMG continued its regional expansion with projects in Iraq and Oman, increasing its international land portfolio to 29 million square metres. The company said it anticipates generating approximately $33bn in sales from its projects across the three regional markets. The performance of Egyptian companies listed in the 'Top 50' showed broad growth over the past year. According to the report, the total assets of these companies grew by 33% to $118.8bn by the end of December 2024, a figure equivalent to over 34% of Egypt's GDP. Combined sales for the 50 firms increased by 34.5% to $35.6bn, and net profits rose by 45% to $6.5bn. Their collective market capitalisation reached $35.1bn as of market close on 25 April 2025, a 19.6% increase from the previous year's $29.4bn. The banking and financial services sector had the largest representation on the list with 17 companies, which together accounted for $13.5 billion in sales and $78.4bn in total assets. The industrial, real estate, and construction sectors followed, each with seven companies on the list. According to the publication, its research team gathered financial data from the Egyptian Exchange to compile the ranking. Companies were classified using four equally weighted metrics: sales, total assets, and net profits for the 2024 fiscal year, along with market capitalisation based on market close on 25 April 2025. Companies with equal scores received the same rank. Firms that had not disclosed their audited 2024 financial statements by 25 April 2025 were excluded from the list. The report used foreign currency exchange rates from 25 April 2025.
