EGX 30 slips 0.18% as Elsewedy unit joins rail consortium

The EGX 30 fell 0.18% to 52,585.7 on June 22, extending the near-flat market tone flagged on June 21, when PHAR jumped 5.7% on EGP 176.4 million in turnover, according to analyst notes. Elsewedy Electric said its Rowad Modern Engineering unit has joined an Alstom-led consortium for rail projects in Egypt, ZAWYA reported. In technology, Telecom Egypt, the NTRA and the Arab Academy launched the first Cybersecurity Innovation Lab, according to Tech Review Africa. Corporate news flow stayed active with at least 8 filings on June 21, including AGM resolutions, board meetings and disclosure forms for AREH, MICH, DSCW, SPMD, GMCI, ELWA, MASR, PRDC and BINV.