Latest News

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) started the week with strong performance, with the EGX30 index rising by 1.23% to close at 27,539.21 points on Sunday. Similarly, the EGX70 EWI grew by 1.65% to 6,038.28 points, while …

Cairo – Mubasher: Madinet Masr Housing and Development logged a consolidated net profit after tax and non-controlling interest of EGP 1.17 billion in the first quarter (Q1) of 2024, a 287.53% year-on-year (YoY) surge from EGP 304.36 million. …

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 …

Abu Dhabi – Mubasher: Big data analytics company Presight AI Holding, a subsidiary of UAE's G42, has signed a memorandum of understanding (MoU) with Dell Technologies to accelerate digital transformation and innovation across various sectors in …

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 …

Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has decided to maintain interest rates. The MPC kept the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25%, …

Mubasher: Dubai-based Centena Group has announced the launch of AtlabShoponline platform as an educational eCommerce platform in Saudi Arabia to promote a knowledge-based economy across the region while further solidifying its presence in the …

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) registered a mixed performance on Thursday for the second day in a row, with the EGX30 index inching lower by 0.08% to 27,205.14 points. On the other hand, the EGX70 EWI rose by 0.82% to …

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 consolidated net profits after tax of EFG Holding jumped to EGP 2.11 billion in the first quarter (Q1) of 2024 from EGP 920.12 million a year earlier. The EGX-listed group posted revenues valued at EGP 8.55 billion in Q1-24, …

Mubasher: MENA’s largest digital manufacturer Immensa has penned a strategic collaboration agreement with Pelagus 3D, an on-demand digital manufacturing partner for the maritime and offshore industry. The two parties will integrate their strengths …

Riyah – Mubasher: The General Authority of Civil Aviation (GACA) has organised the first Arab Forum for Aviation Security in cooperation with the Arab Civil Aviation Organization. The forum was attended by 120 leaders in the aviation sector and …

Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources plans to operate a new transportation pipeline for petroleum products on the Mediterranean coast, according to Al Arabiya Business. The new pipeline will link the MIDOR oil …

UAE – Mubasher: Microsoft Corporation and UAE’s G42 announced an initial invetments of $1 billion in digitalisation projects in Kenya in collaboration with the country’s Ministry of Information, Communications, and the Digital Economy. The …

Cairo – Mubasher: Philip Morris International (PMI) has acquired a 14.70% stake in Eastern Company. The two companies also signed a nonexclusive letter of intent (LOI) to explore potential strategic areas for mutual long-term collaboration, in the …

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 …

UAE – Mubasher: Huspy, a property technology firm headquartered in the UAE, has raised a funding round led by Balderton Capital, along with existing investor Fifth Wall as well as other investors. The fundraising had a considerably higher …

Riyadh – Mubasher: The third edition of the Future Aviation Forum has witnessed the signing of several agreements on the first two days of the event, which had nearly 5,000 delegates from over 100 countries to elevate global connectivity. On top …

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) registered a varied performance on Wednesday, with the EGX30 index inching higher by 0.01% to 27,227.44 points. The EGX70 EWI declined by 0.35% to 5,891.86 points, while the EGX100 EWI …

Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, has directed the disbursement of EGP 500 million as additional financing for the timely payment of salaries of employees at special funds and accounts across governorates, …

Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has acquired a minority stake in  Copenhagen-based fintech Kenzi Wealth, according to a press release. The Danish digital wealth manager uses advanced AI-powered asset management …

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 …

Riyadh – Mubasher: flyadeal unveiled a landmark order for 51 narrow-body Airbus aircraft to boost its expansion plans, according to a press release. The announcement is a part of Saudia Group’s deal for a record 105 aircraft order, which was …

Cairo – Mubasher: The consolidated net losses after tax of Remco for Tourism Villages Construction hiked to EGP 1.83 billion in 2023 from EGP 283.53 million at the end of December 2022 Revenues amounted to EGP 744.26 million last year, higher than …