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10 June 10:16 AM

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37 minutes ago CBE announces debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a combined value of EGP 3 billion through two issues on Monday, 10 June. The offering stood at EGP 2.50 billion and will mature in three years on 4 June 2027, …
Bonds
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1 hour ago Nokia’s manufacturer plans to produce 4m phones in Egypt annually
Cairo Mubasher: HMD Global, the Finnish manufacturer of Nokia mobile phones, plans to produce four million traditional and smartphones annually in Egypt for African exports starting in 2024. The company also intends to export an additional 200,000 …
Companies Investments
Mohamed Abbas Fayed, CEO of FABMISR, and Mahmoud Hassan, Founder and CEO of Cayesh.
1 hour ago FABMISR, Cayesh team up to reshape fintech finance in Egypt
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, penned a deal with Cayesh, the first supply chain finance company in Egypt. The two entities will join forces to leverage innovative …
Companies Investments
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2 hours ago GCC dominates Forbes Middle East’s 2024 top 100 listed companies list
Mubasher: The GCC region has reigned over Forbes' 2024 list of top 100 listed companies in the Middle East by sales, assets, and profits. The list was led by the UAE with 32 firms, followed by Saudi Arabia with 31, according to a press release. …
Companies Investments
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9 June 02:54 PM EGX’s indices flag in red on Sunday
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) showed a negative performance on Sunday, with the EGX30 main index down 2.91% to 25,659.13 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI indices ended the session lower …
Trading Activities
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9 June 02:19 PM Alexandria Container’s EGM approves capital raise
Cairo – Mubasher: The extraordinary general meeting (EGM) of Alexandria Container and Cargo Handling Company approved increasing the authorised capital to EGP 2 billion from EGP 1 billion. The shareholders also agreed to raise the issued and …
General Assembly
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9 June 01:54 PM EdVentures, Mastercard Foundation launch edtech fellowship in Egypt
Cairo – Mubasher: EdVentures, the investment arm of Nahdet Misr Group, has partnered with the Mastercard Foundation to launch the Mastercard Foundation EdTech Fellowship in Egypt. This five-year initiative aligns with Egypt's Vision 2030, focusing …
Companies Investments
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9 June 01:51 PM El Ebour announces project contracts in Saudi Arabia, UAE
Cairo - Mubasher: El Ebour Real Estate Investment agreed to conclude contracting agreements in Saudi Arabia and the UAE, according to a bourse disclosure. The EGX-listed firm plans to ink a subcontracting contract between the company’s branch in …
Companies Investments
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9 June 01:15 PM Madinet Masr, CIRA Education introduce Project Kayan in Taj City
Cairo – Mubasher: Madinet Masr Housing and Development has announced Project Kayan in collaboration with Lemania Swiss International School (LSIS), managed by CIRA Education’s subsidiary Eduhive, and Klub Kayan, operated by Blue Ribbon in Taj …
Companies Investments
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9 June 11:41 AM EgyptAir to launch new flights to Alamien City, 3 African destinations
Cairo – Mubasher: EgyptAir is set to operate its first flight to Alamein City on the North Coast on 11 July 2024. This seasonal flight will operate until 14 September 2024, according to the State Information Service (SIS). EgyptAir noted that the …
Companies Investments
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9 June 10:42 AM Electro Cable Egypt’s consolidated profit leaps to EGP 535m in Q1-24
Cairo – Mubasher: Electro Cable Egypt posted a consolidated net profit of EGP 535.32 million in the first quarter (Q1) of 2024, up from EGP 202.17 million in the equivalent period a year earlier. Consolidated sales jumped to EGP 3.07 billion in …
Financial Results
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9 June 10:28 AM Juhayna Food Industries inks EGP 450m credit facility with HSBC
Cairo – Mubasher: Juhayna Food Industries has signed a credit facility worth EGP 450 million with HSBC, renewing a working capital financing agreement. Signed in November 2023, the credit facilities include a package of benefits by the bank linked …
Banking and Finance
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9 June 10:05 AM TMG Holding achieves EGP 122bn sales in 5M-24
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) has achieved total sales of EGP 122 billion in the first five months (5M) of 2024, up from EGP 45 billion in the same period the year before. The surge in sales include EGP …
Real estate
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9 June 08:26 AM Al Ahly FC names UAE’s Palms Sports official operator of mega sports complex
Cairo – Mubasher: Al Ahly FC has appointed UAE’s Palms Sports, a subsidiary of International Holding Company (IHC), as the official operator of the El-Qalaa El-Hamraa mega sports complex project. This partnership is set to enhance the value of …
Companies Investments
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9 June 08:18 AM CBE offers T-bills worth EGP 55bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth EGP 55 billion through two tranches on Sunday, 9 June. The first auction stood at EGP 30 billion and will mature in 91 days on 10 September 2024, according to …
Macroeconomics
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9 June 07:44 AM Elevate fuels expansion plans via $5m funding round
UAE – Mubasher: Elevate, a London and Dubai-based fintech, has secured $5 million in a pre-Series A funding round to boost its expansion into the Middle East and Africa, according to a press release. Founded in 2021 by Faris Keenan, Khalid Keenan, …
Global Economy
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9 June 07:17 AM Riyadh Air, EgyptAir ink strategic MoU to offer greater benefits to travellers
Riyadh – Mubasher: Riyadh Air has signed a strategic cooperation memorandum of understanding (MoU) with EgyptAir. The MoU will provide guests of both carriers a variety of exclusive benefits when travelling between Saudi Arabia and Egypt, …
Companies Investments
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9 June 06:55 AM Egypt to receive $820m from IMF after 3rd loan programme review
Cairo – Mubasher: The International Monetary Fund (IMF) has reached a staff-level agreement with the Egyptian authorities on a set of comprehensive policies and reforms needed to complete the third review of the loan programme signed in December …
Macroeconomics
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6 June 02:40 PM Egyptian Exchange sees negative performance on Thursday
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended in the red on Thursday, with the EGX30 main index inching lower by 0.77% to 26,428.65 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI indices closed the session …
Trading Activities
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6 June 02:14 PM Egypt's agricultural exports increase $500m in 5M-24
Cairo – Mubasher: The value of Egypt's agricultural exports increased by $500 million to approximately $2.60 billion in the first five months (5M) of 2024 compared to the corresponding period in 2023, according to El-Sayed El-Quseir, Minister of …
Macroeconomics
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6 June 01:37 PM Saudi Arabia, UAE, Egypt secure 92% of MENA’s VC funding in 2023 – Report
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 …
Macroeconomics
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6 June 12:09 PM Misr Beni Suef Cement’s net profit shrinks to EGP 41m in Q1-24
Cairo – Mubasher: Misr Beni Suef Cement’s net profit declined to EGP 41.52 million in the first quarter (Q1) of 2024 from EGP 61.36 million in the equivalent period the year before. Net sales leapt to EGP 666.59 million in Q1-24 from EGP 276.32 …
Financial Results
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6 June 11:38 AM OFH swings to consolidated loss in Q1-24
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 …
Banking and Finance
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6 June 10:30 AM Elsewedy Electric’s consolidated profit leaps 33% YoY in Q1-24
Cairo – Mubasher: Elsewedy Electric Company has reported a 33.33% year-on-year (YoY) surge in consolidated net profit to EGP 4.23 billion in the first quarter (Q1) of 2024 from EGP 3.17 billion. Consolidated revenues soared 35.70% YoY to EGP 45.24 …
Financial Results
Sunita Bottse, the CEO for Ooredoo's Mena Digital Hub
6 June 09:35 AM Ooredoo names Bottse as CEO of Mena Digital Hub
Mubasher: National Mobile Telecommunications Company (Ooredoo) appointed Sunita Bottse as the CEO for Mena Digital Hub, which became effective on 26 May 2024, according to a press release. Mena Digital Hub, Ooredoo’s carrier-neutral data centre …
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