🇪🇬EgyptNorth Africa
Egyptian Exchange receives new listing requests from two state-owned companies
via Egypt Today2 min read
The Egyptian Exchange EGX announced on Sunday that it has received applications to list shares of two companies affiliated with the Ministry of Public Business Sector: the National Investment and Development Company NIRCO and the Egyptian Contracting Company “El Abd.” The EGX's listing department is currently reviewing NIRCO’s application for the small and medium enterprises market. NIRCO's issued capital is approximately LE 45 million, divided into 9 million shares with a nominal value of LE 5 per share. The EGX also confirmed receiving a listing request from El Abd to join the main market. El Abd’s issued capital amounts to around LE 369.43 million, distributed over 73.89 million shares at a nominal value of LE 5 per share. Both applications will be published for five working days in accordance with Article 20 of the listing and delisting rules. These applications are part of a broader pipeline of state-affiliated offerings, following earlier requests from Nasr Housing and Development and Spring Manufacturing and Transport Equipment Company. The Egyptian Cabinet also plans to begin procedures for the temporary listing of 10 petroleum sector companies. Last week, the EGX approved the temporary listing of six state-owned firms, including Misr Mining, Alexandria Refractories, and Nasr Glass and Crystal. NIRCO, established in 1978, is largely owned by the public business sector, holding a 74.17 percent stake, with total public ownership reaching about 99.17 percent. El Abd, fou
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Must ReadKuwait's Ministry of Foreign Affairs announced a reduction in the staff of the Iranian Embassy and declared two diplomatic mission members persona non grata. This action followed the summoning of Iran’s chargé d’affaires in Kuwait and the delivery of an official protest note concerning Iranian attacks. The Ministry condemned an attack carried out by Iran on Wednesday, which caused damage to vital facilities, including diplomatic missions, and resulted in one death and several injuries. Kuwait emphasized its rejection of Iran’s acts of aggression, stating they escalate tensions, undermine regional security, and violate international law, the UN Charter, and Security Council Resolution 2817 2026. The Ministry affirmed that the security, sovereignty, and safety of Kuwait’s citizens and residents are inviolable, and that the recurrence of such attacks reflects a systematic and aggressive approach that Kuwait will not tolerate. Kuwait also asserted its right to take appropriate measures in response to these repeated attacks. This incident marks the third attack on Kuwait in less than a week, with the Kuwaiti Army having intercepted missile and drone attacks of unspecified origin on Monday and Thursday.
Must ReadEgypt has strongly condemned an Iranian attack on Kuwait International Airport, which resulted in injuries and significant damage to facilities. The Egyptian foreign ministry described the attack as a flagrant violation of Kuwait’s sovereignty and territorial integrity, calling it a "dangerous escalation" that threatens security and stability in the Arabian Gulf and the wider Middle East. Egypt expressed full solidarity with Kuwait, supporting all measures taken to safeguard its security, stability, and critical infrastructure. Cairo reiterated that the security of Gulf Arab states is a core pillar of Arab national security and reaffirmed its rejection of actions that violate state sovereignty or threaten territorial integrity. Kuwait’s defense ministry reported that drones struck Terminal 1, causing damage and injuries, leading to flight suspensions and diversions. US Central Command stated it intercepted Iranian ballistic missiles and drones and conducted strikes on an Iranian military ground control station on Qeshm Island in response to attempted attacks across the Middle East. Iran’s Revolutionary Guard claimed responsibility for targeting the US Navy’s Fifth Fleet headquarters in Bahrain and another regional location, in retaliation for a US strike on an oil tanker. These attacks occurred amidst ongoing talks between Washington and Tehran to preserve a ceasefire and reach a broader agreement to end the war that began on February 28.
Egypt's trade deficit expanded by 48.8 percent year-on-year in March 2026, reaching $4.6 billion, up from $3.1 billion in March 2025, according to the Central Agency for Public Mobilization and Statistics CAPMAS. Exports decreased by 2.5 percent to $4.6 billion in March 2026, compared to $4.8 billion in the previous year. This decline was primarily due to reduced exports of fertilizers, various food preparations, potatoes, and crude oil. Conversely, petroleum products, ready-made garments, fresh fruits, and plastics in primary forms saw increased exports. Imports rose by 17.8 percent to $9.3 billion in March 2026, from $7.9 billion a year prior. This increase was largely driven by higher imports of petroleum products, natural gas, crude oil, and wheat. However, imports of raw materials of iron or steel, corn, organic and inorganic chemicals, and pharmaceuticals and pharmaceutical preparations all declined.
Must ReadEgyptAir has announced the cancellation of its flights to Kuwait Airport for Wednesday and Thursday. This decision follows a recent Iranian attack targeting Kuwait International Airport. The airline stated that the cancellations are made out of concern for passenger safety until the regional situation stabilizes. EgyptAir is closely monitoring developments in coordination with relevant authorities and the Civil Aviation Authority. Passengers with bookings to and from Kuwait are advised to contact the EgyptAir call center to review their travel plans. Egypt has condemned the Iranian strike on Kuwait International Airport, describing the incident, which caused injuries and facility damage, as a “heinous attack.”