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12 May 06:32 PM

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2 hours ago EGX starts week in collective-index decline
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed a downward performance at the end of Sunday’s session, with the EGX30 main index falling by 3.26% to 25,155.92 points. The small- and mid-cap EGX70 EWI retreated by 4% to close at …
Trading Activities
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3 hours ago NHC, TMG break ground on SAR 40bn Banan City project in Saudi Arabia
Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC), in collaboration with Talaat Moustafa Group Holding Company (TMG Holding), has laid the foundations for the Banan City project in Riyadh with SAR 40 billion (approximately $12 …
Real estate
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08:57 AM Alexandria Container’s profit leaps 26% YoY in 9M-23/24
Cairo – Mubasher: The net profit of Alexandria Container and Cargo Handling Company surged 26% year-on-year (YoY) to EGP 4.02 billion in the first nine months (9M) of fiscal year (FY) 2023/2024, versus EGP 3.19 billion. Sales jumped 21% YoY to EGP …
Financial Results
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07:57 AM CBE unveils T-bills worth EGP 60bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at an aggregated value of EGP 60 billion through two tranches on Sunday, 12 May 2024. The first auction, which stood at EGP 30 billion, holds a tenor of 91 days …
Banking and Finance
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9 May 03:19 PM EGX’s indices rise slightly on Thursday
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) inched higher at the end of Thursday’s session, with the EGX30 main index increasing by 0.05% to 26,003.16 points. The small- and mid-cap EGX70 EWI also grew by 0.13% to close at …
Trading Activities
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9 May 12:25 PM TAQA Arabia posts 16% YoY higher consolidated profit in Q1-24
Cairo – Mubasher: TAQA Arabia recorded a 16% year-on-year (YoY) jump in consolidated net profit to EGP 102.77 million in the first quarter (Q1) of 2024 from EGP 88.38 million. Consolidated revenues grew 22% YoY to EGP 3.57 billion in Q1-24 from …
Financial Results
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9 May 11:12 AM Faisal Islamic Bank's consolidated profit leaps 181% YoY in Q1-24
Cairo – Mubasher: The consolidated net profit of Faisal Islamic Bank of Egypt jumped 180.60% year-on-year (YoY) to EGP 6.16 billion in the first quarter (Q1) of 2024 from EGP 2.19 billion. Revenues soared 78.80% YoY to EGP 11.66 billion in Q1-24 …
Banking and Finance
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9 May 09:41 AM Egypt's non-oil private sector marks 41st consecutive month of contraction
Cairo – Mubasher: Egypt's non-oil private market continues its downturn in April 2024, accompanied by a significant easing of inflationary pressures. The S&P Global Egypt Purchasing Managers’ Index (PMI), which provides a snapshot of operating …
Macroeconomics
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9 May 08:55 AM Egypt’s annual headline inflation decelerates over 1% in April
Cairo – Mubasher: Egypt’s annual headline inflation rate declined by 1.30% to 31.80% in April 2024 from 33.10% in March. The shrinkage in the annual inflation is attributed to a 3.70% decline in grain and bread prices, and a 1.80% decrease in meat …
Macroeconomics
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9 May 08:08 AM CBE issues EGP 50bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 50 billion through two equal issues on Thursday, 9 May 2024. The first offering will mature in 182 days on 12 November this year, …
Treasury Bills
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8 May 05:41 PM EGX’s indices close Wednesday lower
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed a downward performance at the end of Wednesday’s session, with the EGX30 main index falling by 1.67% to 25,988.93 points. The small- and mid-cap EGX70 EWI also retreated by 1.86% …
Trading Activities
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8 May 03:22 PM Egypt to build int’l tourist port in New Ras El-Hekma
Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouly has approved building an international tourist port to accommodate tourist cruises and yachts in New Ras El-Hekma city. The Marine Transport and Logistics sector within the Ministry of …
Macroeconomics
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8 May 02:27 PM RAYA CX acquires 15% of Gulf Customer Experience Bahrain
Cairo – Mubasher: The board of Raya Customer Experience (RAYA CX) has acquired 59,170 shares in Gulf Customer Experience Bahrain, representing 14.97% of the company’s capital. The acquired stake was bought from an American investor, according to a …
Companies Investments
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8 May 01:46 PM Air Cairo chooses Seera’s Almosafer as exclusive agent in Saudi Arabia
Riyadh – Mubasher: Egypt’s hybrid national airline Air Cairo has partnered with the Saudi travel company Almosafer, a subsidiary of Seera Group Holding, to become the exclusive general sales agent (GSA) of Air Cairo in Saudi Arabia, according to a …
Companies Investments
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8 May 01:11 PM Mastercard restructures leadership roles in MENA
Riyadh - Mubasher: Payments giant Mastercard announced restructuring its regional operations, appointing new division leaders as it aims to step up growth across the Middle East and North Africa (MENA). This initiative forms part of the company's …
Companies Investments
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8 May 10:21 AM Beltone, UAE’s Comera partner to boost digitalisation in Egypt
Cairo – Mubasher: Beltone Holding has signed a strategic partnership agreement with Abu Dhabi-based Comera Financial Holding to bolster digital transformation and customer experience in Egypt. Under the agreement, the two companies will join …
Companies Investments
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8 May 08:58 AM Egypt int’l reserves hit 4-year high in April 2024
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) rose by around $690 million to more than $41.05 billion at the end of April 2024 from $40.36 billion in March. The recent increase brought reserves to its …
Central Banks
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7 May 03:40 PM EGX’s indices end Tuesday higher; market cap hits over EGP 1.7trn
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) ended in a positive performance at the first session after the Labour Day and Eastern Christian Easter holidays, with the EGX30 main index increasing by 1.21% to close at 26,429.69 …
Trading Activities
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7 May 03:05 PM Qalaa Holdings registers EGP 11.8bn consolidated profits in 2023; revenues up 17%
Cairo – Mubasher: Qalaa Holdings logged consolidated net profits after tax valued at EGP 11.80 billion in 2023, lower year-on-year (YoY) than EGP 18.74 billion, including non-controlling interest. Meanwhile, the consolidated revenue grew 17% to …
Financial Results
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7 May 02:29 PM ASCOM registers leap in 2023 consolidated profits
Cairo – Mubasher: The consolidated net profits after tax of Asec Company for Mining (ASCOM) widened to EGP 1.95 billion in 2023 from EGP 96.90 million as of 31 December 2022. The EGX-listed firm generated revenues valued at EGP 1.92 billion last …
Financial Results
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7 May 02:15 PM FABMISR opens 2 new branches in Giza, Cairo
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has inaugurated two new branches in Egypt. The new branches, the bank’s 66th and 67th in the country, are located on El-Haram Street in Giza …
Banking and Finance
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7 May 12:19 PM Egypt buys 1.8 tonnes of wheat from local farmers
Cairo – Mubasher: Egyptian farmers have supplied around 1.80 tonnes of wheat to the government since the start of the harvest season on 13 April 2024, said Ahmed Kamal, Assistant Minister of Supply and Internal Trade for Projects and Media. The …
Macroeconomics
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7 May 10:28 AM Masdar to expand green hydrogen projects in Egypt’s SCZONE, Mediterranean coast
By: Mahmoud Gamal UAE – Mubasher: Abu Dhabi Future Energy Company (Masdar) is planning to expand its green hydrogen production in Egypt’s Suez Canal Economic Zone (SCZONE) and along the Mediterranean coast, Mohammad Abdelqader El-Ramahi, Chief …
Companies Investments
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5 May 12:18 PM Egypt’s foreign currency reserves to soar $16.2bn in FY24/25 – Report
Cairo – Mubasher: Egypt’s international reserves are expected to surge by $16.20 billion during the fiscal year (FY) 2024/2025, according to a report by JPMorgan, an American multinational finance company. The report expected the country’s …
Macroeconomics
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5 May 10:42 AM ADES Holding wins SAR 161m contract for works in Egypt
Riyadh – Mubasher: Egypt-based Suez Oil Company (SUCO) has awarded ADES Holding Company a SAR 161 million contract to use a standard jackup unit from the Saudi company’s fleet. The jackup unit will be used for drilling works at the Gulf of Suez, …
Global Economy