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20 September 06:25 AM

Egypt news

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19 September 04:00 PM EGX closes Thursday’s session up
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) showed a positive performance on Thursday, with the EGX30 main index up 1.69% to 30,937.69 points. The small- and mid-cap EGX70 EWI as well as EGX100 EWI indices closed the session …
Trading Activities
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19 September 03:30 PM Egypt’s edtech Farid drives regional expansion plans via funding round
Cairo – Mubasher: Farid, an emerging Egyptian EdTech Startup, has secured $250,000 in a pre-seed funding round from Saudi businesswoman Amal bint Abdulaziz Al Ajlan. This funding aligns with the company’s strategic partnerships with schools across …
Companies Investments
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19 September 03:15 PM Qalaa Holdings registers 45% higher revenues in Q1-24
Cairo – Mubasher: Qalaa Holdings posted revenues valued at EGP 37.60 billion in the first quarter (Q1) of 2024, marking a 45% year-on-year (YoY) surge. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at EGP 7.70 …
Financial Results
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19 September 01:49 PM Egypt’s SETTLE secures $2m pre-Seed funding
Cairo – Mubasher: SETTLE, an Egypt-based business-to-business (B2B) payment platform, has raised $2 million in a pre-seed funding round led by Shorooq Partners, according to a press release. El Sewedy Capital Holding, Acasia Ventures, and Plus VC …
Companies Investments
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19 September 01:12 PM Mesh, CoinMENA FZE to boost Crypto transactions in MENA
UAE – Mubasher: Mesh entered into a strategic partnership with CoinMENA FZE, a leading digital assets trading platform in the Middle East, according to a press release.   This collaboration will improve digital asset transfer services by allowing …
Global Economy
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19 September 12:11 PM Apex Group anchors Phoenix Venture Partners’ MENA expansion plans
UAE – Mubasher: Apex Group Limited obtained a licence from the Abu Dhabi Global Market (ADGM) fund manager for Phoenix Venture Partners, according to a press release. Phoenix Venture Partners Limited (PVP) came together as a Technology Venture …
Global Economy
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19 September 10:31 AM PIF-backed eWTP Arabia Capital anchors MENA’s business via new rebrand
Riyadh – Mubasher: eWTP Arabia Capital, backed by the Saudi Public Investment Fund (PIF), has rebranded as ewpartners, according to a press release. eWTP Arabia Capital, the first international private equity firm to establish an Asia-Saudi …
Companies Investments
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19 September 09:27 AM CBE offers T-bills worth EGP 55bn end-week
Cairo - Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 55 billion through two issues on Thursday, 19 September 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 25 …
Banking and Finance
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18 September 06:51 PM Wizz Air unveils 1st long-haul route from Zayed airport to Milan
UAE – Mubasher: Wizz Air revealed plans to launch its first long-haul route connecting Abu Dhabi with Milan through the Airbus A321XLR aircraft. The one-way daily trip is set to commence on 2 June 2025. Meanwhile, the tickets are already available …
Companies Investments
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18 September 03:41 PM EGX closes Wednesday’s session in green
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) showed a positive performance on Wednesday, with the EGX30 main index up 0.61% to 30,342.46 points. The small- and mid-cap EGX70 EWI as well as EGX100 EWI indices closed the session …
Trading Activities
Zaid Aloul, Chief Commercial Officer of GTN Middle East
18 September 11:37 AM Zaid Aloul promoted to Chief Commercial Officer of GTN Middle East
UAE - Mubasher: GTN, a global fintech redefining trading and investing for all, is pleased to announce the promotion of Zaid Aloul to Chief Commercial Officer (CCO) for the Middle East. In this new role, Zaid also joins the GTN Middle East …
Global Economy
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18 September 11:32 AM Egyptian businessmen launch $42m NextEra Education
Cairo – Mubasher: Egyptian leading business figures established NextEra Education with investments exceeding $42 million (EGP2 billion), according to a press release. A coalition between EYouth and Egyptian businessmen, including Mohamed Farouk, …
Companies Investments
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18 September 10:28 AM Sultan Ventures acquires Acasia to bolster footprint in MEA
Cairo - Mubasher: US-based venture firm Sultan Ventures has acquired Acasia Group, Egypt’s angel investment syndicate and incubator, to expand its footprint in the MEA region. The transaction aligns with Sultan Ventures’ commitment to fuel global …
Global Economy
Egypt’s Prime Minister, Mostafa Madbouly, and Saudi Crown Prince Mohammed bin Salman
18 September 10:00 AM Egypt unveils investment plans with Saudi PIF, ACWA Power
Cairo - Mubasher: The Saudi Public Investment Fund (PIF) is expected to invest $5 billion in Egypt as part of the first phase of investments in the Arab Republic, according to an official statement. Egypt’s Prime Minister, Mostafa Madbouly, …
Companies Investments
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18 September 08:42 AM MENA-focused Arqaam Capital to commence operations in Saudi Arabia
Riyadh – Mubasher: MENA-focused investment banking institution Arqaam Capital obtained the approval of the Saudi Capital Market Authority (CMA) to begin operations in the Kingdom, according to a press release. The CMA’s approval boosts the firm's …
Companies Investments
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17 September 05:17 PM EGX closes Tuesday in red zone
Cairo – Mubasher: The EGX30 main index of the Egyptian Exchange (EGX) retreated by 0.33% to 30,159.15 points at the end of Tuesday’s session. Similarly, the EGX100 EWI closed the session lower by 0.91% at 9,987.36 points and the Shariah index fell …
Trading Activities
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17 September 04:43 PM Crypto exchange Bybit obtains VARA provisional approval; building on its int’l HQ in Dubai
Mubasher: Bybit, the second-largest cryptocurrency exchange by trading volume on the global level, was granted a provisional (non-operational) approval from the Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Asset Service …
Companies Investments
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17 September 03:20 PM Global startups event Expand North Star to launch in October to cement Dubai's position
UAE – Mubasher: Expand North Star will launch at Dubai Harbour as the world's largest event for global startups and investors over three days from 13 to 16 October 2024, according to a press release. The event is organised by Dubai World Trade …
Global Economy
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17 September 02:00 PM GFH extends strategic partnership with FII Institute ahead of FII8 event in Saudi Arabia
Mubasher: Cross-listed GFH Financial Group has renewed its groundbreaking strategic partnership with FII Institute, a global non-profit foundation in Saudi Arabia, for three years to foster global innovation and sustainable development. Extending …
Companies Investments
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17 September 12:27 PM Aviation Future Week to make debut in UAE mid-October
UAE – Mubasher: The first Aviation Future Week is scheduled to take place in Dubai from 15-17 October 2024, hosted by the UAE flag carrier Emirates and the Museum of the Future. The three-day event in Dubai will bring together UAE ministers, …
Event
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16 September 04:03 PM EGX’s indices close Monday’s session down
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended Monday’s trading session with a negative performance, with the EGX30 main index down 0.78% to 30,260.24 points. The small- and mid-cap EGX70 EWI as well as EGX100 EWI indices …
Trading Activities
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16 September 09:40 AM CBE offers T-bills, T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 60 billion through two auctions on Monday, 16 September 2024. The first tranche was valued at EGP 35 billion and will mature in 91 days …
Banking and Finance
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16 September 09:00 AM TAQA announces new brands following companies merger
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has unveiled a new brand identity for its group of companies, according to a press release. This move aligns with TAQA’s strategy and transformation objectives to expand through …
Global Economy
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15 September 10:49 AM Xpence, Paymob join forces at 24 Fintech to reshape digital payment landscape
Mubasher: Xpence, a B2B payments platform in the GCC, has entered a strategic partnership with MENA’s leading financial services enabler Paymob at the 24 Fintech conference in Riyadh. The partnership agreement is set to bolster the digital payment …
Event
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15 September 10:02 AM Kazakhstan's Air Astana bolsters operations in Middle East
Mubasher: Air Astana, an airline and the flag carrier of Kazakhstan, has expanded its presence in the Middle East, with new services to Dubai, Abu Dhabi, and Jeddah, according to a press release. The airline will launch new services from Atyrau in …
Global Economy