Corporate news: Egypt
Alexandria Cement (ALEX.CA) has registered its shares in the central depositary system effective February 7. Egyptian Gulf Bank (EGBE.CA) has registered its shares in the central depositary system effective January 30.
Prime Minister Atef Ebeid announced in his speech to the parliament yesterday new regulations to bring stability to the exchange rate market. The new system would be controlled by the Central Bank of Egypt and would limit exchange rate fluctuations by a maximum of 2 percent around the average of the previous three months’ rates.
The Central Bank of Egypt announced the acceptable bids for its 182-day T-Bill auction, from which 47 out of 55 bids were accepted with a total face value of LE800.700 million. The annual interest rate ranged between 9.011 percent and 9.125 percent with an average of 9.119 percent.
Prime Securities S.A.E.
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