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6 February 03:05 PM Iran to export 300,000 bpd to Europe
Mubasher: Iran plans to sell 300,000 barrels of crude oil a day to European customers, the Iranian oil minister Bijan Zanganeh told state-run news agency IRNA Saturday. Iran will start implementing its contract with Total late this year, while …
President Abdel Fattah El-Sisi
6 February 01:08 PM El-Sisi: National projects should be tied to state budget
Mubasher: Egyptian President Abdel Fattah El-Sisi said on Saturday that national projects should be tied to the state budget and in light of the country's conditions, according to Oman News Agency. The President also stressed that Egypt needs the …
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6 February 12:19 AM U.S. oil drillers cut rigs for seventh week
Mubasher: U.S. energy firms cut oil rigs for the seventh straight week, data showed on Friday. Drillers removed 31 oil rigs in the week ended 5 February, bringing the total rig count down to 467, the least since March 2010, oil services company …
IMF
5 February 01:12 PM IMF calls for setting up global financial safety network
Mubasher: The International Monetary Fund (IMF) called on advanced and emerging market countries to implement the global regulatory reform agenda to help create a more resilient global financial system capable of coping with financial shocks and …
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5 February 01:09 PM Egypt's CIB asks NBE to bid for subsidiary's takeover deal
Cairo-Mubasher: The Commercial International Bank –Egypt (CBI) asked NBE Capital to submit a non-binding offer to acquire its investment arm CI Capital. CIB received a letter on Thursday from NBE Capital, a subsidiary from the National Bank of …
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5 February 12:50 PM European shares open mixed
Mubasher: European shares opened Friday on a mixed note. UK's FTSE 100 Index rose 0.43% to 4,924 points, while German's DAX slid 0.28% to 9,367. German factory orders fell more than anticipated in December, in a sign that a global trade slowdown …
Photo Credit: Arabianeye-Reuters
5 February 12:43 PM EGX30 jumps 3.6% in a week; gains EGP 9bn
Cairo-Mubasher: The Egyptian Exchange's (EGX) indices showed varied performance last week, with the market capitalisation rising EGP 9.37 billion ($1.2 billion) to EGP 400.69 billion, compared with EGP 391.32 billion a week earlier. The bourse got …
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5 February 12:39 PM Japan stocks continue 4-day decline
Mubasher: Japan stocks closed Friday in the red, extending their downward trend for the fourth straight day. Nikkei dropped 1.3% to 16,819.59 points, its lowest since 26 January 2015. The index slid 4% in a week. Meanwhile, TOPIX index fell 1.4% …
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5 February 01:46 AM NBE vies for CIB's investment arm takeover
Cairo – Mubasher: A subsidiary of National Bank of Egypt (NBE) joined the race for the acquisition of CI Capital, the investment arm of Commercial International Bank – Egypt, Reuters cited a source at NBE as saying. NBE Capital submitted a buy …
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4 February 11:49 PM Egypt oil exports decline 29.3%
Cairo – Mubasher: Egypt's oil exports fell by 29.3% to reach $280.2 million in October, 2015, compared with $396.3 million in the same month a year earlier, according to International Islamic News Agency (IINA). The country's imports of petroleum …
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4 February 09:10 PM Egypt forex reserve up $32m in January
Cairo – Mubasher: Egypt's foreign currency reserve rose in January by around $32 million, the central bank said on Thursday. Foreign currency reserve amounted to $16.477 billion, compared with $16.445 billion at the end of December, according to …
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4 February 05:32 PM Pyramisa Hotels board to tackle capital hike
Cairo – Mubasher: Pyramisa Hotels and Resorts said it will hold board of directors meeting on 8 February. The shareholders meeting will discuss raising the company’s issued capital to EGP 497 million, through the distribution of bonus shares at …
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4 February 05:07 PM Omega ups Marseilia stake to 25.71%
Cairo – Mubasher: Omega Real Estate Development raised its stake in Marseilia Almasreia Alkhalegeya Real Estate Investment to 25.71%, after buying 3.4 million shares for EGP 10.2 million. Before this transaction, Omega was holding 20.052% stake in …
Photo Credit: Arabianeye - Reuters
4 February 04:20 PM EGX benchmark leaps 2.24%; equities gain EGP4 bln
Cairo – Mubasher: The Egyptian Exchange (EGX) indices closed on mixed note on Thursday, as the benchmark index EGX30 advanced 2.24% or 135.68 points closing at 6,202.22 points. The market capitalization gained EGP 4 billion ($516 million) reaching …
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4 February 04:00 PM United Housing to sell 37 land plots
Cairo – Mubasher: United Company for Housing and Development said it would offer 37 land plots for selling. The land plots are located in Alexandria, said a bourse statement. Earlier, the company said it delivered 92 units as part of one of its …
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4 February 03:28 PM MubasherTrade Research maintains Elsewedy Electric rating
Cairo - Mubasher: MubasherTrade Research said it will maintain its rating for Elsewedy Electric at buy/moderate, with target price of EGP 58.55 per share. The target price implies a total return of 67%, noted the research unit. Earlier, Elsewedy …
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4 February 03:07 PM Bank of England maintains interest rate
Mubasher: The Bank of England on Thursday kept interest rate unchanged at 0.5%, backed by the approval of its nine-member monetary policy committee. Further, the committee also voted unanimously to maintain the stock of purchased assets financed …
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4 February 02:37 PM EU economy continues growth for 4th year
Mubasher: The European economy continued its moderate rise for the fourth straight year, boosted by consumption, according to a statement from the European Commission. Europe recorded this modest growth at a time most several global economies …
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4 February 01:52 PM Financial advisor sets Alexandria Medical Services fair value
Cairo – Mubasher: Alexandria Medical Services (Alexandria New Medical Center) said that Egy Trend Financial Consultant has finished off setting the company’s fair value between the range of EGP 14.89 and EGP 20.64 per share. Last October, The …
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4 February 01:12 PM CIB leads Egypt’s GDRs gains on London bourse
Cairo – Mubasher: Global depository receipts owned by Egyptian companies advanced on Thursday on London Stock Exchange (LSE). The GDRs of the Commercial International Bank (CIB) went up 1.93% to $3.96.The lender’s stocks also gained 5.9% on …
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4 February 12:10 PM Credit Agricole – Egypt profits climb 53.5% in 2015
Cairo – Mubasher: Credit Agricole – Egypt saw registered an increase of 53.5% y-o-y in net profits for 2015, as it reached EGP 1.037 billion. The lender reported net profits of EGP 675.7 million for the previous year. Meanwhile, the lender posted …
Arabianeye - Reuters
4 February 11:43 AM EGX opens on positive note on Arab, foreign buying
Cairo – Mubasher: The Egyptian Exchange (EGX) indices collectively opened Thursday’s early trading on a higher note, amid strong buying by Arab and foreign investors. The main benchmark EGX30 edged up by 0.63%, gaining 38 points to move above the …
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4 February 11:34 AM Japanese stocks fall; foreign stock investments rise
Mubasher: Japanese stocks saw a negative performance on Thursday, shrugging off the rise of foreign stock investments. The foreign investments rose to reach a record of ¥364.1 billion as at the week ended 29 January, compared to ¥190.4 billion the …
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4 February 11:32 AM China eyes 6.5% economic growth in 2016
Mubasher: The Chinese government targets an economic growth rate ranging from 6.5% to 7% this year, compared with 7% last year, State Council Information Office said. The world's second-largest economy grew 6.9%last year, which is the weakest …
Photo Credit: Arabianeye - Reuters
4 February 11:29 AM IFC pledges $144m to boost Egypt’s ports
Cairo - Mubasher: IFC, a member of the World Bank Group, said it will provide a financing package of $144 million to Egypt - based Sonker Bunkering Company. The move aims to boost the performance and competiveness of Egypt’s ports, as well as …
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