valU, a subsidiary of EFG Hermes Holding (HRHO), has fully acquired Paynas, a digital platform that provides financial services to micro, small, and medium enterprises (MSME), according to a press release on August 22nd.

The Saudi Egyptian Investment Company, a newly launched investment firm of the Kingdom’s Public Investment Fund (PIF), has agreed to acquire minority stakes in four large listed Egyptian companies, with a total investment of $1.3bn.

The Commercial International Bank (CIB) reported on Monday a consolidated net income of EGP 3.51bn — or EGP 1.58 per share — in the second quarter (2Q) of 2022 — up by 9% from 2Q 2021.

The Egyptian Cabinet has agreed to prepare both Wataniya Petroleum Company and the National Company for Producing and Bottling Water (Safi), the subsidiaries of the National Service Projects Organization (NSPO), for listing on the Egyptian Exchange (EGX).