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01 May 05:17 PM

Egypt news

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1 hour ago EGX ends Wednesday in green; market cap hits EGP 1.7trn
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) rose at the end of Wednesday’s session, with the EGX30 main index gaining by 3.36% to 25,270.55 points. The small- and mid-cap EGX70 EWI tumbled 1.74% to close at 5,670.65 points. The …
Trading Activities
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2 hours ago DFM launches ARENA platform for MENA companies, investors
Dubai– Mubasher: Dubai Financial Market (DFM) has launched ARENA, an innovative platform for initial private offerings. ARENA by DFM will support the growth of companies and investors in the Middle East and North Africa (MENA) region through …
Initial Public Offerings
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3 hours ago Madinet Masr launches Sheya project, achieves EGP 5.1bn in sales
Cairo – Mubasher: Madinet Masr Housing and Development has launched the Sheya project in Sarai, its mega mixed-use development. Located on a 228,212 square metre area near the New Administrative Capital, Sheya includes 744 mixed-use residential …
Real estate
Mostafa Abdelaziz, Managing Partner at Act Financial
3 hours ago Act Financial plans EGX listing in Q2-24 after decade of continuous work – Abdelaziz
By: Abdel Razek El-Showeikhy Cairo – Mubasher: Act Financial is in negotiations to acquire equities in four companies that plan to list their shares on the Egyptian Exchange (EGX), Managing Partner Mostafa Abdelaziz told Mubasher in an interview. …
Companies Investments
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5 hours ago EFIC posts 19% profit decline in Q1-24
Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) registered a 19% year-on-year (YoY) drop in net profit after tax to EGP 70.93 million in the first quarter (Q1) of 2024 from EGP 87.26 million. Revenues surged 103% YoY to EGP …
Financial Results
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11:22 AM Crédit Agricole Egypt logs EGP 2.3bn consolidated profits in Q1-24
Cairo – Mubasher: Crédit Agricole Egypt recorded consolidated net profit after tax of EGP 2.28 billion in the first quarter (Q1) of 2024, a jump from EGP 1.22 billion in the same quarter a year earlier. Net interest income leapt to EGP 2.68 …
Banking and Finance
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09:49 AM Abu Qir Fertilizers’ net profit dips 3% YoY in 9M-23/24
Cairo – Mubasher: Abu Qir Fertilizers reported a 3.16% year-on-year (YoY) decline in net profit after tax to EGP 12.14 billion in the first nine months (9M) of the fiscal year (FY) 2023/2024 from EGP 12.53 billion. Revenues dropped 18.84% YoY to …
Financial Results
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09:20 AM amana's strategy reinforces MENA trading volumes by 190%
UAE – Mubasher: Dubai-based neobroker amana launched a groundbreaking strategy to boost access to the MENA stock markets for its customers, according to a press release. In February, the investment service provider developed an initiative to …
Global Economy
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08:55 AM CBE issues debt instruments worth EGP 49bn
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 45 billion through two offerings on Wednesday, 1 May 2024. With a tenor of 182 days until 5 November this year, the first tranche stood …
Treasury Bills
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30 April 04:25 PM Egyptian Exchange’s indices tumble on Tuesday
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) dropped at the closure of Tuesday’s session, with the EGX30 main index dropping by 6.01% to 24,448.73 points. The small- and mid-cap EGX70 EWI tumbled 4.92% to close at 5,573.72 points. …
Trading Activities
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30 April 03:58 PM Constructor Capital opens regional office in UAE
UAE – Mubasher: Constructor Capital, a venture capital (VC) fund investing in technology startups, has made a debut in the UAE with a new regional office. Constructor Capital's latest move signals a deeper foray into quantum technology within the …
Companies Investments
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30 April 03:02 PM Sidpec registers 7% YoY higher profit in Q1-23
Cairo – Mubasher: Sidi Kerir Petrochemicals Company (Sidpec) recorded a 7.50% year-on-year (YoY) growth in net profit after tax to EGP 559 million during the first quarter (Q1) of 2024 from EGP 520 million. Sales decreased by 4.12% YoY to EGP 3.46 …
Financial Results
Mohammed Al Ballaa, Chairman of Mubasher Financial Group
30 April 01:38 PM Highlights of Chairman Al Ballaa’s speech during AFCM 2024
Mubasher: Chairman of Mubasher Financial Group, Mohammed Al Ballaa, stated that the emergence of the fintech industry helped with the success witnessed in stock exchanges and different sectors over the past years. Al Ballaa noted, during the third …
Global Economy
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30 April 12:09 PM AMOC sees higher consolidated profits at EGP 1.3bn in 9M-23/24
Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) logged consolidated net profits after tax amounting to EGP 1.31 billion in the nine months (9M) of fiscal year (FY) 2023/2024. The recorded net profits were higher by 19% year-on-year (YoY) …
Financial Results
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30 April 11:54 AM Beltone’s investment arm to launch $100m credit platform for Egyptian exporters
Cairo – Mubasher: Beltone Investment Holding (BIH), a subsidiary of Beltone Holding, is set to launch a $100 million private credit platform. The new platform will serve Egyptian exporters, according to a press release. The platform will …
Banking and Finance
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30 April 11:04 AM EFG Hermes advises on HSB's EGP 600m short-term note issuance
Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has announced that its investment banking division closed the issuance of an EGP 600 million senior unsecured short-term note for the Hermes Securities Brokerage Company (HSB). This …
Companies Investments
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30 April 10:08 AM GSK Egypt obtains shareholders’ nod for 2023 cash dividends
Cairo – Mubasher: GlaxoSmithKline (GSK Egypt) plans to disburse cash dividends valued at EGP 0.75 per share for 2023, according to a bourse filing. The board members greenlighted the cash dividends last March, while the shareholders granted their …
Cash Dividends
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30 April 09:48 AM Egypt Aluminum’s net profit soars 33% YoY in 9M-23/24
Cairo – Mubasher: Egypt Aluminum recorded a 33% year-on-year (YoY) surge in net profit after tax to EGP 5.22 billion during the first nine months (9M) of the fiscal year (FY) 2023/2024, versus EGP 3.91 billion. Revenues jumped 52% YoY to EGP 22.46 …
Financial Results
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30 April 09:17 AM Delta Sugar posts 33% lower net profits in Q1-24
Cairo – Mubasher: Delta Sugar witnessed 33% lower net profits after tax at EGP 216.75 million in the first quarter (Q1) of 2024, compared to EGP 323.78 million in Q1-23. The lower net profits were attributed to an increase in the prices of …
Financial Results
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29 April 06:05 PM EGX’s indices surge on Monday amid over EGP 1.76trn market cap
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) recorded a positive performance at the end of Monday’s session, with the EGX30 main index rising by 5.57% to 26,011.28 points. The small- and mid-cap EGX70 EWI added 2.59% to close at …
Trading Activities
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29 April 04:01 PM Remco suffers higher net losses at EGP 1.5bn in 2023
Cairo – Mubasher: Remco for Tourism Villages Construction incurred non-consolidated net losses valued at EGP 1.55 billion in 2023, an annual hike from EGP 210.60 million. The loss per share enlarged to EGP 6.31 last year from EGP 0.85 in 2022, …
Real estate
Mohammed Rashid Al Ballaa, Chairman of MubasherTrade Global
29 April 02:44 PM Mubasher aims at broadening investors base in Arab exchanges – Chairman Al Ballaa
Mubasher: MubasherTrade Global seeks to increase the number of investors in the Arab stock markets, Chairman Mohammed Rashid Al Ballaa said at the third Arab Federation of Capital Markets (AFCM) Annual Conference. The number of traders in the Arab …
Global Economy
Mohammed Rashid Al Ballaa, Chairman of MubasherTrade Global
29 April 01:42 PM Mubasher Global has the largest network, covers 3m investment tools – Chairman Al Ballaa
Mubasher: Mubasher Global has the largest network that connects the markets across the globe through its company Global Trading Network (GTN), Chairman of MubasherTrade Global, Mohammed Rashid Al Ballaa, stated during the third Arab Federation of …
Global Economy
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29 April 11:09 AM CBE unveils EGP 65.5bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 60 billion through two equal auctions on Monday, 29 April 2024. The first auction will mature in 91 days on 30 July this year, while the …
Companies Investments
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29 April 09:28 AM Egyptian Resorts turns to EGP 112.5m consolidated losses in 2023
Cairo – Mubasher: Egyptian Resorts Company shifted to consolidated net losses after tax valued at EGP 112.57 million in 2023, against net profits amounting to EGP 67.50 million in 2022. Earnings per share (EPS) plunged to EGP 0,078 in 2023 from …
Real estate