Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: CIB nearly doubles its profits, Obour Land’s earnings decline, and Talaat Moustafa unveils a major new project.

🔔 EGX30 ended +1.42% by market close at 38,622 points, the EGX70 rose 0.71% to 12,163 points, and the EGX100 is also up 0.80% to reach 15,990 points.

💸 The number of transactions reached 147,349 spread across 1,462,579,111 stocks leading to a turnover of EGP 5.9 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included South Cairo & Giza Mills & Bakeries (+20%), Saudi Egyptian Investment & Finance (+12.96%), and El-Nile Co. For Pharmaceuticals And Chemical Industries (+9.85%).

📉 Top losers for the market included A Capital Holding (-6.32%), Copper For Commercial Investment & Real Estate Development (-5.25%), and Egyptian Iron & Steel (-4.98%).

⬆️ Top gainers for EGX30 included Emaar Misr (+5.0%), TMG Holding (+4.8%), and Palm Hills Developments (+4.5%).

⬇️ Top losers included Abu Qir Fertilizers (-2.1%), Mopco (-1.7%), and Fawry (-1.0%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,091 per gram, down 0.64% day-on-day but up 1.07% month-on-month.

💲 The USD reached EGP 47.2 at the National Bank of Egypt.

💸 CIB recorded a major profit surge in 3Q 2025, with net income jumping 94% year-on-year to EGP 28.8 billion on stronger revenues. The bank’s stock gained nearly 2% on the results and is up over 35% since the start of the year. (Read more in our Deeper Look section.)

🐮 Obour Land for Food Industries (OLFI) reported an 8.4% year-on-year drop in net profit to EGP 661 million during the first nine months of 2025, despite revenues rising to EGP 8.24 billion from EGP 6.67 billion a year earlier. In other news, the company approved plans to build a new dry cheese factory at its Obour Farm. The EGP 120–150 million project will be self-funded and aims to boost profitability and exports. The company’s share value rose 2.13% on the news yesterday, and is up 23.71% since the beginning of 2025.

🏘️ Talaat Moustafa Group Holding (TMGH) has begun developing a new USD 788 million integrated tourism project behind the Grand Egyptian Museum through its subsidiary, the Arab Company for Hotels and Tourism Investments, in partnership with the New Urban Communities Authority. The project includes a five-star hotel, retail, residential, and entertainment facilities. (Read more in our Deeper Look section.) 

👀 A fund tied to BlackRock bought a 1.8% stake in Fawry (FWRY) for EGP 876 million, a source familiar with the matter told EnterpriseAM, signaling renewed US investor interest in Egypt’s fintech market after Amazon’s purchase of a share in Valu. It is worth noting that Fawry doubled its profit in the first-half of 2025 profit to EGP 1.3 billion, with revenues climbing 64% to EGP 3.8 billion. The company’s share value is up 67.25% since the start of the year.

💰Taaleem Management Services (TALM) also saw a large block trade executed on its shares during Monday’s session, with 51.63 million shares changing hands for a total value of EGP 800.25 million. Earlier this week, the company reported a 5% year-on-year increase in FY 2024/2025 net profit to EGP 580 million, supported by higher enrollment and stronger operations. Taaleem’s stock has risen 55.10% since the beginning of 2025.

November 4, 2025 (today):

East Delta Flour Mills (EDFM) - dividend record date for EGP 23 per share. The distribution date is Sunday, November 9.

November 5, 2025:

Mansourah Poultry (MPCO) - record date for 0.52 bonus shares per original share. The distribution date is Thursday, November 6.

November 6, 2025:

North Cairo Mills (MILS) – dividend distribution date for EGP 3 per share. The record date was Sunday, November 3.

Middle Egypt Flour Mills (CEFM) – dividend distribution date for EGP 5 per share. The record date was Sunday, November 3.

Misr Chemical Industries (MICH) – dividend distribution date for EGP 2 per share. The record date was Sunday, November 3.

Alexandria Pharmaceuticals and Chemical Industries (AXPH) – dividend distribution date for EGP 62.95 per share. The record date was Sunday, November 3.

💰 Egypt’s first local sukuk issuance drew heavy demand, with bids totaling EGP 14.9 billion — nearly five times the EGP 3 billion on offer. The strong appetite drove yields down to 21.56% from 28%, as the Finance Ministry accepted just ten out of sixty-three bids. The three-year ijara sukuk, backed by ministry-owned assets in the Red Sea’s Ras Shukeir area, comes under a newly expanded EGP 200 billion program aimed at lowering debt servicing costs.

⬆️ Egypt’s budget deficit widened slightly to 2.5% of GDP in the first quarter of FY 2025–26, despite a strong revenue performance that saw tax receipts climb 37% year-on-year to EGP 556.2 billion. The primary surplus nearly doubled to EGP 178 billion — or 0.9% of GDP — supported by better tax collection and tighter fiscal control. Still, soaring interest payments, which hit EGP 695.2 billion in the quarter, kept overall spending high at EGP 1.2 trillion.

Commercial International Bank “CIB” (COMI) posted a sharp jump in profits for the third quarter of 2025, with net income climbing 94% year-on-year to EGP 28.8 billion. Revenues during the quarter also moved higher, rising 13% y-o-y to reach the same level.

The company’s share value rose 1.91% by market close yesterday on news of its financial results, and is up 35.02% from the beginning of 2025.

It is important to note that the bank comprises approximately a third of the EGX 30 index weight.

For the first nine-months of 2025, CIB’s net profit  hit EGP 62.1 billion, up 47% from last year, supported by a 16% increase in total revenues to EGP 83.7 billion.

The bank continued to grow its core operations, with the gross loan portfolio expanding 30% since the start of 2025 to EGP 519 billion, and deposits up 8% to EGP 1.04 trillion.

Management attributed the strong quarterly results to the bank’s steady digital transformation, describing it as clear proof of the strength of CIB’s technology platform and the returns from sustained investment in innovation.

Talaat Moustafa Group Holding (TMGH) announced that its subsidiary, the Arab Company for Hotels and Tourism Investments (ICON), has begun developing a new USD 788 million integrated tourism project located behind the Grand Egyptian Museum, in partnership with the New Urban Communities Authority.

The details:

The 42.4-feddan project will include a five-star luxury hotel with 495 rooms managed by an international operator, along with restaurants, retail spaces, serviced apartments, office units, and a world-class entertainment area. The project is expected to generate recurring annual income exceeding USD 82 million and total property sales revenues of around USD 233 million over its lifespan.

The group is also restoring and redeveloping the historic Mena House hotel to its original state, alongside upgrades to other landmark hotels such as the Marriott Zamalek and Luxor’s Winter Palace, in line with Egypt’s tourism modernization strategy.

The company’s share value rose 4.84% by market close yesterday on news of the project, and is up 10.73% from the beginning of 2025.

Strong half-year performance:

TMGH reported a 69% year-on-year surge in net profit for 1H2025, booking EGP 8.11 billion, according to its latest earnings release. Revenues rose 44% YoY to EGP 24.4 billion, supported by robust performance across the company’s Egypt and Saudi Arabia project portfolio.

Sales driven by Egypt–KSA demand:

Group sales climbed 59% year-on-year to reach EGP 211 billion during 1H2025, driven by strong demand from Madinaty, Noor, Celia, Privado, Banan in Riyadh, and the North Coast’s South Med.

New coastal development in Sharm El Sheikh:

The company also announced plans to launch a new mega-development, “Sharm Bay,” in Sharm El Sheikh. The project will include around 3,000 residential units and is projected to generate EGP 120 billion in total sales, with an estimated net profit margin of 20% and recurring revenue of EGP 30.2 billion.

Expanding regional footprint:

TMGH recently signed an agreement with Iraq’s National Investment Commission to develop a 14 million square meter integrated city south of Baghdad, modeled on its established community approach in Egypt and Saudi Arabia. The project will house around 46,000 multi-use units and is expected to generate USD 17 billion in total sales.

This follows the launch of the USD 17.5 billion Banan project in Riyadh and a major project in Oman, expected to generate approximately USD 4.7 billion in sales. Collectively, the group forecasts USD 33 billion in revenues from its regional pipeline, with expected post-tax margins of 12–17%.

With a total land bank of 125.9 million sqm, TMGH says it now ranks among the top three publicly listed developers in the region.

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.