Egypt: Brief corporate news
Suez Cement (SUCE.CA) has responded to our questions concerning recent market rumors surrounding its upcoming capital increase. A company official declared that SUCE is still considering its options for a capital increase, although nothing concrete has been decided. The company will announce details within one or two weeks, after which it will accept bids from interested parties.
The Central Bank of Egypt –CBE released its annual report for FY1999/2000. According to the report, nominal GDP grew 6.4 percent growth, up from 6 percent in FY99. Real GDP fared slightly better, growing at 6.5 percent compared to 6.1 percent in 1999. The relatively robust growth in real GDP is a natural outcome of a year with record low inflation. In 2000, the CPI annual index grew at a modest 2.5 percent compared to 2.9 percent n 1999.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)