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November 30 .. Polvara bidding for the sale of 50 thousand square meters in Alexandria


Arab Polvara Company for Spinning and Weaving, announced bidding for the sale of unused land with a total area of ​​50 thousand square meters.

The company added in a statement to Al-Ahram newspaper, it was determined November 30 to open the envelopes for the sale of two plots of land surface area of ​​33 thousand square meters, and 17 thousand square meters area swords in Alexandria.

The company sold about 26 thousand square meters and a total value of 104.5 million pounds in the first week of November, with an average price of four thousand pounds of the meter.

The company's shares rose by 1.88% at 2.17 pounds at today's meeting.

Egyptian Ministry of Finance data showed high yield of Government Treasury Bills during the tenders on Sunday.

The ministry added via the website, the average yield on treasury bills for 91 days rose to 18.186% from 17.744% giving the same week Almadi.autam covered 1.8 times,

The ministry pointed out that the average yield on treasury bills for 273 days increased to 18.475% from 17.610% bid last Sunday, and covered the tender offers made by about 4 times.

The central bank announced the launch day treasury bills worth 9.25 billion pounds, in coordination with the Ministry of Finance; to finance the budget deficit.

The Central Bank of Egypt decided early November, liberalization of the exchange rate Pound, and raise interest rates to absorb the inflationary effects of the Egyptian market; what jumped at the yield on government debt above 20% before retreating during the bids last two weeks less than the 18% level.

The Egyptian government is heading for internal borrowing by introducing bills and treasury bonds, in an effort to bridge the budget, which recorded the level of 12.2% of GDP in fiscal deficit (2015-2016).

Abu Dhabi Islamic Bank has approved the appointment of Chief Executive Officer of the Board of Directors and acting CEO, succeeding Nevin Lutfi.

He said the bank in a statement to the Stock Exchange Egypt on Sunday, he was appointed Zuhair Idris acting executive director, serves as a unique Bilbeisi position of Chairman of the Board non-executive.

The bank announced on Tuesday for the death of Nevin Lutfi, CEO and Managing Director and Acting Chairman of the Board.

The Lutfi joined the Abu Dhabi Islamic Bank - Egypt in 2008, after working at Citigroup Commercial Bank for Europe, Middle East and Africa, based in London.

Bank shares fell 1 percent at 4.93 pounds by the end of today's meeting.

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