2October2013

MENAdaily
MENAresearch

Agenda Oct2:ArabCottonGinningAGMand EGMtoapproveFY12/13resultsand approvemodifyingitsoperationsto allowittopartitionandsellitslandbank Oct2:ExdividenddateforAMOCsDPS ofEGP8.00 Oct3:OCIends1 phaseofpurchasing remainingsharesofcompanysminority shareholders Oct7:PaymentdateforAMOCsDPSof EGP6(firstinstallment) Oct8:EasternTobaccoAGMtodiscuss FY12/13results Oct8:RayaAGMandEGMtodiscuss bonussharesdistribution Oct8:QatarNationalBank3Q13 earningsrelease Oct9:Appealagainsttheacquittanceof AhmedEzzinthesteelmonopolycase
st

Egypt
Economicandgeneralnews EgyptwillrepayUSD1bntoQatarduringthenext2months,which representstheduesof2separate1yearbondsworthUSD500meachthat QatardepositedwiththeCBEattheendoflastyearandrefusedtorenew, theCBEgovernorsaid.Thefirstwillbereimbursedon1Novemberandthe secondon3December.(Mubasher) TheEgyptiangovernmentandpublicsectorrepresentativesfailedtoreach anagreementoverthemaximumwageinthepublicsector,anofficialfrom thegovernmentsaid.Thesuggestionofamaximumwageof EGP40,000/monthhasbeenrejectedbymanypublicentities.(AlMasryAl Youm)

TheEgyptianMinistryofFinanceapprovedtheallocationofEGP1.4bnfor Oct9:CitadelCapitalEGMtoapprove theGeneralAuthorityforSupplyCommodities,thePetroleumAuthority, thelaunchofanEGP3.7bncapital andtheHoldingCompanyforWaterandSanitation.(AlShorouk) increaseatparvalue Oct9:QatarFuel3Q13earningsrelease TheNewUrbanCommunitiesAuthority(NUCA)hasagreedtoallowsmall Oct10:Courtcaseregardingthe realestateinvestorstopayoninstallmentstheadministrativefeesfor annulmentofEgyptianResortsSahl Hasheeshlandcontract exceedingheightlimitationsinnewcities.Underthisnewpaymentplan, Oct 10:UnitedDevelopmentCompany theinvestorswillberequiredtopayhalfoftheamountimmediately,and 3Q13earningsrelease theotherhalfovera1yearperiodwithoutinterest.Inrelatednews,afinal Oct10:SembcorpSalalahPower& decisionregardingtherepaymentoflateduesofbiginvestorshasbeen WatersharestostarttradingonMuscat differeduntilthenextmeetingofNUCAsBODin2weeks.(AlMal) SecuritiesMarket Oct12:AlEzzDekheilaAGMtoapprove 1H13resultsandaDPSofEGP25 Egyptwillrepay25%to30%ofitsarrearstoforeignoilcompaniesinthe Oct15:BankMuscat3Q13earnings nearfuture,theministerofpetroleumsaidonTuesdayatanewsconference. release EgyptowesoilcompaniesUSD6.2bn.(Reuters) Oct19:RetrialofoustedPresident Mubarak,his2sons,andformer EgyptisnegotiatingwithSaudiArabia,Kuwait,andtheUAEtosupplyitwith MinisterofInteriorHabibelAdli petroleumproductsinto2014,EgyptianMinisterofPetroleumSherifIsmail Oct22:ExdividenddateforAbuQir FertilizersDPSofEGP13.17 saidonTuesday.The3Gulfcountriesarealreadyprovidingpetroleum Oct22:Egyptiancourttohearappeal productsuntiltheendofDecemberintheformofgrants.Thegovernmentis againstitsdecisiontobanMBandseize notplanningonraisingdomesticfuelpricesatpresentandisstudyingthe itsfunds bestoptionforcuttingsubsidies,theministeradded.(Bloomberg,Reuters) Oct23:Savola3Q13earningsrelease Oct23:AlexandriaSpinning&Weaving Some21newoildrillingagreementswithminimuminvestmentsof SPINALEXAGMtodiscussfinancial results USD700mwillbesignedduringthecomingperiod,theministerofpetroleum Oct24:PaymentdateforAbuQir said.(Bloomberg) FertilizersDPSofEGP13.17 Oct29:TrialofMuslimBrotherhood Egyptishopingtoimplementasmartcardsystematthestartof2014for leadersonchargesofincitingviolence fuelpurchasesbyvehicledrivers,theministerofpetroleumsaidonTuesday. Oct29:Appealhearingtoexemptthe (Reuters) EgyptianExchangefromthestamptax Nov6:GlobalTelecomtoannounce 9M13 financialresults Egyptgasoutputisstableat5.4bcf/dsinceJanuary,thechairmanofEGAS saidatmediaconferenceinCairo.(Mubasher) Pleaseseetheimportantdisclosuresonthelastpage

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NegotiationstoamendthecontractsforthesaleofEgyptiangasare ongoing,theministerofpetroleumsaid,emphasizingthatthereisnofixed globalpriceforgas.(Mubasher) NegotiationswithLibyaandIraqovercrudeshipmentsarenowstalled,the ministerofpetroleumsaid.(AlAkhbar) TheEgyptianMinistryofPetroleumhasagreedwithforeignpetroleum companiestoexpeditetheirgasfielddevelopmentprojectsofa7tcf7.5tcf reservescapacity,whichisexpectedtoincreaseproductionfromthe current5.4bcf/dayto7bcf/day,theministerofpetroleumsaid.Egypts productionofcrudeandcondensatesincreasedto695,000bpd,andofnet crudeto600,000bpd.(AlMal) AnagreementhasbeenmadewiththeCBEtodelaythepaymentof tourismbasedsectorduestoMarch2014,theheadoftheEgyptianChamber ofTourismEstablishmentssaid.(AlAlamAlYom) Some12countrieshaveliftedtheirtravelwarningtoEgyptasofyesterday, theministeroftourismsaid.(AlAhram) TheEgyptianMinistryoftheElectricitywillpresentalistof10projectsfor theproductionandtransmissionofelectricitytotheWorldBankdelegation, whichiscurrentlyvisitingEgypttonegotiatetheirpossiblefinancing. (Mubasher) TheMinistryofElectricityandEnergywillsoonauctionaprojectforcoal basedpowergeneration,theministerofpetroleumsaid.(AlMal) TheEuropeanInvestmentbankwillprovideEUR77m(USD104m)infunding foraEUR164mwastewaterprojectintheKafrElSheikhgovernorate.The projectconsistsofthebuildingof2treatmentplants,theexpansionof3 others,andtheconstructionofalmost700kilometersofsewersinthe northernDeltapartoftheNileRiverswesternbranch.(Bloomberg) Some790plantsacrossthecountryarecurrentlystalled,theministerof tradeandindustrysaid.(AlMal) EgyptresumeddepositauctionsonTuesdayandaccepted7daydeposits worthEGP15bn(USD2.18bn)atafixedinterestrateof9.25%,theCBEsaid. (Reuters) AnEgyptiancourtwillhearanappealon22Octoberagainstitsdecisionto bantheMuslimBrotherhood(MB)andseizeitsfunds,courtsourcessaid. (Reuters)

Agenda(continued) Nov8:Meetingbetweenthe governmentandtheprivatesectorto discussminimumwage Nov17:RetrialofformerMinisterof HousingIbrahimSuleiman Nov19:Appealofajudgmentthat invalidatingCentaminscontractto exploittheSukarimine Dec4:FirstsessionofAhmedEzzs retrialinAlEzzDekheilaSteelcase Dec5:RetrialofAhmedEzzoncharges relatedtotheillegalsaleofsteellicenses Dec16:AdministrativeCourttolookinto lawsuitfiledbyHamdyFakharany invalidatingacquisitionofEzzSteels stakeinAlEzzDekheila Dec16:Cairocourttolookintolawsuit torecoversmuggledfundsbyfiguresof Mubarakregime

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Companynews CommercialInternationalBank(COMIEY,UnderReview)|Mobinil(EMOB EY,Suspended):Mobinilreceived3financingoffersduringthepastweek fromtheNationalbankofEgypt,BanqueMisr,andCIBforitsEGP2.5bnloan. (Mubasher) EFGHermesHolding(HRHOEY,UnderReview):ThecompanyhiredAmrSeif, previouslythemanagingdirectorofFinanceUnlimitedatCitadelCapital,as headofassetmanagement,accordingtoanemailedstatementfromthe company.(Bloomberg) OrascomDevelopmentHolding(ODHNSW,UnderReview):Thecompany sentareleasedenyinganyundisclosedmaterialeventsinresponsetoEGX inquiries.(Reuters) AbuQirFertilizers(ABUKEY,NotRated):Thecompanywilldistributeon24 OctoberaDPSofEGP13.17forshareholdersasof21October.(Reuters)

Qatar
Companynews CommercialBankofQatar(CBQKQD,NotRated):Thebankboughta3.4% stakeinAlternatifbank,raisingitstotalmajoritysharetoc74.2%.(Bloomberg)

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