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 …
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 …
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: 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 …
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: 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 …
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 …
Cairo – Mubasher: Sharm Dreams Company for Touristic Investment logged net profits after tax valued at EGP 2.18 million in the first quarter (Q1) of 2024, versus losses worth EGP 1.68 million in Q1-23. Earnings per share (EPS) hit EGP 0.04 as of …
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 …
UAE – Mubasher: Dubai-based AI startup qeen.ai has secured a $2.20 million pre-Seed funding round to reshape the global e-commerce landscape in the MENA region, according to a press release. The fundraising was led by Wamda Capital, along with …
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) closed Wednesday’s trading session with a negative performance after the EGX30 main index fell by 1.25% to 2,6634.30 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI …
Cairo – Mubasher: Alexandria Spinning and Weaving Company (Spinalex) logged net profits after tax worth EGP 103.23 million in the first nine months (9M) of fiscal year (FY) 2023/2024, an annual leap from EGP 69.86 million. The sales hiked to EGP …
Mubasher: UAE-based traveltech Tumodo has partnered with Saudi fintech Tabby to accelerate growth in the UAE travel industry, which is projected to reach $1.40 trillion by 2024. Integrating Tumodo's services into Tabby's business processes will …
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 …
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended Tuesday’s trading session with a positive performance, after declining in the previous session. The EGX30 main index rose by 0.52% to 26,973 points. The small- and mid-cap EGX70 …
Cairo – Mubasher: Egypt's House of Representatives has approved a new budget for the fiscal year (FY) 2024/2025, increasing public expenditures by approximately 29% year-on-year (YoY) to EGP 3.87 trillion, or 22.60% of GDP, Finance Minister …
Cairo – Mubasher: Ericsson teamed up with Vodafone Egypt to expand the latter’s mobile network with the introduction of Ericsson’s triple-band radio, supporting Time Division Duplex (TDD) and Frequency Division Duplex (FDD) spectrum. Radio 4466, …
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 Egypt Purchasing Managers’ Index (PMI) rose in May 2024 to its highest level since August 2021, reaching a point close to the growth threshold of 50, as cooling inflation since early 2024 encouraged demand stabilisation. The …
Cairo – Mubasher: GYPTO Pharma, an Egyptian medical city, has entered into a strategic partnership agreement with the US-based pharmaceuticals manufacturer, Abbott, to produce six painkillers and antibiotic medications. The partnership aims to …
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) closed Monday’s trading session with a negative performance after the EGX30 main index fell by 0.13% to 26,834.47 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI indices …
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, …
Abu Dhabi – Mubasher: Burjeel Holdings has signed a framework agreement to establish a joint venture (JV) AL KALMA with Keralty S.A.S, a Colombia-based multinational health organization. The alliance plans to develop and operate an integrated …
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: Egypt-focused insurtech company Mal Bazaar has acquired licensed insurance brokerage and securing approvals from the Egyptian Financial Regulatory Authority (FRA). The recent approvals will serve as a launchpad for Mal Bazaar to …
