Beltone Investment Banking, an affiliate of Beltone Financial Holding, will organize a conference for investment opportunities in Egypt in Dubai next week
It also approved to grant a shareholder’s loan to its subsidiary Beltone Financial Holding amounting to $1.55 million.
“There is another room for another 100bps which was pending confirmation on eased inflation with April reading.”
Bassem Azab, CEO Beltone Financial, Beltone Financial, received the bt100 crystal award on behalf of Beltone Financial for being the best asset manager in Egypt.
The bill included LE 1.6 billion for the purchase of Sarwa Capital's 261.8 million shares at a price of LE 7.36 per share representing 30 percent of the issued share capital.
Egypt’s Beltone Financial Holding has paid a settlement of 16 million Egyptian pounds ($914,800) to end the suspension of its underwriting unit.
Beltone’s expectation came as the inflation outlook will remain hostage to the uncertain trajectory of volatile food prices.
“Our expectations for rebalancing suggest that eight companies from the EGX30 may be de-listed due to non-meeting of the trading value criteria,” Beltone stated.
The Egyptian economic performance is very promising, it added in an annual report on the Egyptian economy released on Wednesday.
The Grievance Committee of the commission decided to accept Beltone Financial's grievances' form and reject its subject.
Beltone received 10 mandates from companies for share offerings, acquisitions and other services.
Beltone said that FRA’s decisions are surprising and that the company is yet to be informed of reasons for their issuance and their stipulations.
The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that annual consumer price inflation slipped to 13.8 percent in June 2018.
It said that inflation rates, on an annual basis, dropped 11.4 percent in May from 13.1 percent in April against expectations that it would reach 13 percent.
Beltone expects a total cut of the interest rates by 400 basis points during fiscal year 2017/2018.
Beltone Financial announced Monday that it reported earnings after minority amounting to LE 9 million in 2017, compared to LE 44 million in 2016.
A wrap-up of the most prominent business news of the day.
Beltone Financial anticipated that the company’s market stake would increase to 12 percent by 2022 with 14.5 million subscribers.
Beltone expected that direct foreign investments and the recovery of consumption rates will lead the growth rates of fiscal year 2017/2018.
Egyptian financial services group Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September.