Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …
Cairo – Mubasher: Orascom Financial Holding (OFH) turned to a consolidated net loss of EGP 22.81 million in the first quarter (Q1) of 2024, versus a net profit of EGP 19.81 million in the equivalent quarter the year before. Revenues soared to EGP …
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced treasury bills (T-bills) at a combined value of EGP 45 billion through two auctions on Thursday, 6 June. Holding a tenor of 182 days until 10 December 2024, the first tranche stood at EGP …
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) reached a historic high of $46.12 billion at the end of May 2024. This marks an increase of approximately $5.06 billion from $41.05 billion at the end of …
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) closed the financing arrangements for the Juranah Independent Strategic Water Reservoir …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a value of EGP 3 billion through one issue on Monday, 3 June. The offering will mature in three years on 4 June 2027, according to official data. Additionally, …
Cairo – Mubasher: EFG Hermes ONE, the online trading platform of EFG Hermes, and has entered into a partnership with Banque Misr and PayTabs Egypt. The partnership allows for the introduction of a new debit card top-up feature on the EFG Hermes …
Cairo – Mubasher: Qalaa Holdings has announced the opening of the first phase for applications to participate in the purchase of the company’s debt owed to certain banks and financial institutions. The first phase will be open between 2 and 9 …
Cairo – Mubasher: Egypt’s foreign asset deficit declined about 12.65% month-on-month (MoM) to EGP 174.38 billion ($3.70 billion) in April 2024, a new record low after reaching a 25-low in March. Total foreign assets in the Egyptian banking system …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through two issues on Sunday, 2 June. The first tranche stood at EGP 30 billion and will mature in 91 days on 3 September 2024, …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, achieved a 108% year-on-year (YoY) jump in net profit to EGP 9.90 billion during the first quarter (Q1) of 2024. FABMISR said it …
Cairo – Mubasher: The consolidated net profits after tax of Housing and Development Bank (HD Bank) increased to EGP 2.80 billion in the first quarter (Q1) of 2024 from EGP 1.33 billion in Q1-23. Net interest income widened to EGP 3.71 billion in …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 45 billion through two tranches on Thursday, 30 May 2024. The first auction was valued at EGP 25 billion and will mature in 182 days on 3 …
Mubasher: The Middle East ranked as the fastest-growing real-time payment market for the second consecutive year in 2023, according to the 2024 Prime Time for Real-Time report by ACI Worldwide and GlobalData. The region's real-time payment market …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a combined value of EGP 3.50 billion through two tranches on Monday, 27 May. The first auction stood at EGP 3 billion and will mature in three years on 7 May …
Cairo – Mubasher: Beltone Holding shifted to a consolidated net profit of EGP 548.20 million in the first quarter (Q1) of 2024, versus a net loss of EGP 52.03 million in Q1-23. Consolidated total revenues soared to EGP 1.36 billion in Q1-24 from …
Riyadh – Mubasher: National Bank of Kuwait - Egypt (NBK Egypt) has posted a 96.32% year-on-year (YoY) surge in net profit to EGP 1.28 billion (KWD 11.71 million) in the first quarter (Q1) of 2024 from EGP 652 million (KWD 6.88 million). Net …
Cairo – Mubasher: Egyptian logistics solution company OneOrder has raised $16 million in equity and debt in a Series A funding round. The funding is aimed at enabling the company to expand into the GCC region in autumn 2024, build up financing …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 60 billion through two tranches on Sunday, 26 May 2024. With a tenor of 91 days until 27 August this year, the first issue was valued at …
Riyadh – Mubasher: Goldman Sachs Group Incorporation became the first Wall Street bank to establish a Middle Eastern headquarters (HQ) in Saudi Arabia, according to Bloomberg. Goldman obtained a licence from the Saudi Ministry of Investment (MISA) …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 50 billion through two equal auctions on Thursday, 23 May 2024. The first tranche will mature in 182 days on 26 November this year, while the …
Cairo – Mubasher: The National Bank of Egypt (NBE) has secured $119.5 million (EUR 109 million) from the European Bank for Reconstruction and Development (EBRD) to support Egyptian micro, small and medium-sized enterprises (MSMEs). The loan aims …
Cairo – Mubasher: The consolidated net profits after tax of the Export Development Bank of Egypt (EBank) surged to EGP 1.09 billion in the first quarter (Q1) of 2024 from EGP 563.87 million in the equivalent quarter a year earlier. Consolidated …
Cairo – Mubasher: Cash for Microfinance, a subsidiary of Beltone Holding, has signed a cooperation protocol with Microfinanza Italia to launch a EUR 2.20 million project for the economic support and empowerment of entrepreneurs. The agreement aims …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 4 billion through one issue on Monday, 20 May 2024. The tranche will mature in three years on 7 May 2027, according to official data. The CBE also …
