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Wednesday, June 24, 2009

Egypt Companies news

Sawiris: Mobinil row affects our Morale but operations in the right track 24 Jun 09 03:56 PM
Orascom Telecom (ORTE)chairman said on Tuesday that France Telecom, its partner in the jointly owned Egyptian mobile firm Mobinil, was in the "business of value destruction".
9th of July listing El Shams Housing shares of capital increase 24 Jun 09 03:41 PM
The listing committee held on 24/06/2009 approved the following:
CMA studies Listing Orascom Development Holding’s Depositary Receipts 24 Jun 09 12:27 PM
Capital Market Authority’s administration will study in its meeting today adding Egyptian depositary receipts of international holding companies to the exception of listing in EGX without the condition of financial results of full year before the listing demand. Securities issuance only previously enjoyed this exception.
Thursday, Listing Belton Financial shares of capital increase 24 Jun 09 12:24 PM
The listing committee held on 11/06/2009 approved the following:
Cairo Radiology Center declares cash dividends of L.E 1.00 24 Jun 09 11:46 AM
Cairo Radiology Center - (RADI) declared cash dividends of L.E 1.00 per share payable on 01/07/2009, shareholders as of 28/06/2009 are entitled to cash dividends distribution.
United Bank BOD to decide on Lakah debts settlement next week 24 Jun 09 11:05 AM
United Bank BOD is considering Lakah debts settlement, which will not be concluded by National Bank consortium but by the united bank only. It is expected that settlement decision will be made soon.
Banks settle Enjoy’s deal in favor of Citadel Capital’s Gozour 24 Jun 09 11:02 AM
The lending banks of The Nile Company for Food Industries "Enjoy" settled the acquisition deal to Gozour Company, affiliated to Citadel Capital Group, after accepting the rescheduling debts plan which Gozour submitted in the framework of the deal.
Naeem Holding to acquire deals in Petrochemicals and packaging sectors 24 Jun 09 10:43 AM
Naeem Holding (NAHO) Executive Director and Corporate Strategic Planning, Sherif Bolbol stated that the company pumped 50% of its liquidity in four markets.
Egypt hopes France Telecom, Orascom agree on Mobinil 24 Jun 09 09:12 AM
The Egyptian minister of communications and information technology told Reuters on Tuesday that he hopes France Telecom and Orascom Telecom (ORTE) can work out their row over the ownership of Egyptian mobile operator Mobinil (EMOB).
Pachin’s affiliate signs a deal with Imperial Chemical Industries 23 Jun 09 05:26 PM
Paint & Chemicals Industries (Pachin) - (PACH) sent a release to EGX stating that its affiliate Al Obour Paint & Chemicals Industries signed a deal with Imperial Chemical Industries Limited
OT says Mobinil operations unaffected by France Tel row 23 Jun 09 05:25 PM
The head of Orascom Telecom, locked in a bitter dispute with France Telecom over Egyptian mobile firm Mobinil, said FT was "in the business of value destruction", but Mobinil operations were unaffected.
CI Capital sets Mobinil target price at LE 220 23 Jun 09 04:59 PM
CI Capital set, in a recent study, Mobinil (EMOB) target price at LE 220, on overall positive market.
CI Capital ups Orascom Telecom TP to L.E 45 23 Jun 09 04:51 PM
CI Capital set recently in a study Orascom Telecom (ORTE) share target price at L.E 45 which represent 6% increase from its L.E43 previous evaluation with “strong buy ” recommendation .
Orascom Telecom plans IPOs, mobile banking 23 Jun 09 04:21 PM
Orascom Telecom (OT) (ORTE) will launch a mobile banking operation in Pakistan this month and list shares in two North African subsidiaries by early 2010, the firm's chairman and chief executive told Reuters.
Assiut Islamic Trading confirms cash dividends last date 23 Jun 09 01:10 PM
Assiut Islamic Trading - (AITG) sent a release to EGX to confirm that today is cash dividends last date.
Cairo Cotton Center denies capital increase 23 Jun 09 01:09 PM
Cairo Cotton Center - (CCCR) sent a release to respond EGX inquiries about company capital increase.
Alkan Holding reports financial results 23 Jun 09 12:52 PM
Alkan Holding (ALKH) reports financial results posting a net profit of L.E 37,013,059 for the period from 01/01/2009 till 31/03/2009.
El-Rakaibi: Deposition of South Cairo & Giza Mills’ BODs due to disharmony 23 Jun 09 11:50 AM
Dr. Ahmed El-Rakaibi, Chairman of the Holding Co. for Food Industries, attributed South Cairo & Giza Mills & Bakeries’ - (SCFM) EGAM decision regarding the deposition of all BODs to the absence of harmony and cooperation between the board members.
GMC seeks splitting stock, increases capital to LE 34.9 m 23 Jun 09 11:40 AM
Ahmed Fouad, Investors relations Manager of GMC FOR INDUSTRIAL COMMERCIAL & FINANCIAL INVESTMENTS (GMCI), asserted that the company submitted the required documents for splitting the company’s stock nominal value to listing committee of EGX.
Egypt's Palm Hills looks to boost revenue growth 23 Jun 09 10:39 AM
Egyptian developer Palm Hills (PHDC) will focus on maximising returns from its existing land bank and aims for recurring revenue projects such as malls,hotels and leasing to contribute 30 percent of revenue within 5 years.

Daily Technical Report on 24 June 2009

Daily Technical Report on 24 June 2009




24 Jun 2009 07:50 PM


The Egyptian exchange index EGX 30 gone up today by the beginning of the session reached the area of 5672 then began to decline again and reached the area of 5586 because of the profit taking action triggered o the whole market today , accompanied with relatively modest volumes , if the market continue witness the profit taking action it will go for the area of 5,512 then 5,388 – 5,353 then 5,126 , on the other hand if the index bounce high again it will target the area of 5,921 then 6,196 then 6,379 then 6,417 then 6,781 then 7,000 – 7,140 then the level of 7,500 , generally we still see the index in a major sideways on the medium term and on the short term it is in a minor uptrend

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EGX30