Sunday 24 June 2018

Qalaa sells 80pc stake in investment bank

Egypt's Qalaa Holdings, formerly Citadel Capital, has signed a deal to sell its 80 per cent stake in investment bank Pharos, Qalaa said in a statement on Tuesday. Qalaa, one of Egypt's largest investment companies, has som


Pharos Research cuts Ezz Steel fair value

Pharos Research cut its fair value on Al Ezz Steel Rebars to EGP17.3 from EGP18 to reflect the company's performance in the first half of the year. Last week, Ezz Steel, Egypt's largest steel producer, said its 2009 first-half net profit t


Pharos launches first equity fund

Pharos Asset Management, the youngest of Pharos Holding for Financial Investments' subsidiaries, has launched its first Egypt-centric, equity fund; Pharos Fund I. This comes following recent changes in Capital Market Authority (CMA) regula

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