Egypt news

Cairo Poultry posts 5% profit growth for H1
27 July 04:07 PM Cairo Poultry posts 5% profit growth for H1
Cairo-Mubasher: Cairo Poultry posted a 5% rise in net earnings for the first half of 2015. Consolidated net earnings reached EGP 88.12 million, compared with EGP 84 million a year earlier. Consolidated revenues amounted to EGP 1.1 billion, …
Egypt equities shed EGP 1.7 bln , EGX hits two-week low
27 July 04:07 PM Egypt equities shed EGP 1.7 bln , EGX hits two-week low
Cairo – Mubasher:The Egyptian Exchange(EGX)indices reiterated collectively on Monday, while the market capitalisation shed nearly EGP 1.7 billion on selling pressures from local and Arab institutions. The benchmark EGX30 hit two-week low as it …
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27 July 03:31 PM Middle and West Delta Mills doubles annual earnings to EGP 73m
Cairo-Mubasher: Middle and West Delta Flour Mills Co. posted a 117% jump in its net earnings for the fiscal year ended 30 June compared with a year earlier. Net earnings reached EGP 73.39 million, compared with EGP 62.59 million in 2014. Reveues …
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27 July 03:01 PM Alexanderia Container annual profits rise to EGP 840m
Cairo-Mubasher: Alexanderia Container and Cargo Handling Co. posted a 55.88% jump in its net earnings for the fiscal year ended 30 June compared with a year earlier. Net earnings reached EGP 839.7 million ($106.9 million), compared with EGP 538.69 …
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27 July 11:54 AM Amoc insures assets for EGP 5.9m ayear
Cairo-Mubasher: Alexanderia Mineral Oils Co. (Amoc) said the board approved renewing its insurance policy against fire and explosion with Misr Insurance, with a yearly premium of nearly EGP 5.9 million including fees and stamps, starting from 1 …
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27 July 11:20 AM AMOC posts EGP 341m profits in year
Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC)reported EGP 341 million in net profits for the fiscal year ended June 2015, a decline of 53% from EGP 718.1 million for the same period of the previous year. AMOC's revenues reached EGP 6.4 …
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27 July 11:02 AM Misr Oils suffers EGP 10.79m in losses in H1
Cairo – Mubasher: Misr Oils and Soap suffered EGP 10.79 million in losses for the first half of 2015, compared with EGP 10.1 million for the same period of 2014. The company's revenues reached EGP 939.43 million in H1-2015, compared with EGP …
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27 July 10:46 AM El Arabia Land Reclamation awarded 3 projects worth EGP 27m
Cairo-Mubasher: El Arabia for Land Reclamation said on Monday it won three projects at a total value of EGP 26.5 million. The company said in a bourse statement that the first project is to complete the industrial operations on branch 1, 2 Toshka …
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27 July 10:27 AM EGX likely to face selloffs Monday –analysts
Cairo-Mubasher: Egypt’s stock market is expected to witness selling pressures on Monday after the rallies seen by the benchmark over the last five sessions, technical analysts told Mubasher. EGX30 closed Sunday with a loss of 1.02% or 82.41 points …
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27 July 09:09 AM Egypt’s c.bank to issue T-bills worth EGP 6.75bn
Cairo-Mubasher: The Central Bank of Egypt (CBE), on behalf of the finance ministry, will offer treasury bills at a total value of EGP 6.750 billion. The bank said the T-bills will be offered in three issues, a 1.5-year issue at EGP 2 billion, a …
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26 July 03:58 PM EGX indices end on mixed note, equities shed EGP 1.1 bln
Egypt’s stock market indices ended on mixed note on Sunday as the market capitalization lost nearly EGP 1.1 billion ($141.5 million) pressured by local and foreign institutions sell-off. The benchmark index EGX30 reversed its early gains, ending …
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26 July 12:58 PM Land Reclamation shareholders OK loss carryover
Cairo-Mubasher: The General Company for Land Reclamation said the ordinary general meeting, held on 25 July, endorsed financial statements for the fiscal year ended 30 June 2015. Meanwhile, the extraordinary meeting gave the go-ahead for the …
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26 July 12:52 PM Audi Bank earns $202m in H1
Cairo-Mubasher: Audi Bank posted a 7% rise in its consolidated net earnings for the six-month period ended 30 June 2015. H1 earnings reached $202 million (EGP 1.6 billion), the lender said in a press statement. Customer deposits totalled nearly …
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26 July 12:02 PM Americana Egypt posts 47% drop in H1 profits
Cairo-Mubasher: Egyptian Co. for International Tourism Projects (Americana Group-Egypt) reported a 47% drop in its consolidated earnings for the six-month period ended 30 June 2015. The earnings reached EGP 65 million ($8.3 million), compared with …
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26 July 11:41 AM UNB-Egypt profits up three-fold in six months
Cairo – Mubasher:Union National Bank(UNB) - Egypt reported nearly three-fold increase in its net profits for the six-month period ended July 2015. The lender's net profits jumped 307% to EGP 71.75 million for this period of 2015, compared with EGP …
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26 July 11:37 AM Alexandria Flour Mills annual profits edge up 0.6%
Cairo – Mubasher: Alexandria Flour Mills reported net profits of EGP 38.52 million for the fiscal year ended July 2015, up 0.6% from EGP 38.3 million for the previous year. The firm's revenues reached EGP 1.3 billion in the FY ended July 2015, …
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26 July 11:35 AM Arab Polvara widens Q1 losses
Cairo-Mubasher: Arab Polvara Spinning posted a 29.6% rise in its losses for the first quarter ended 31 March. The company said in a bourse statement that net losses after taxes reached EGP 29.6 million, compared with EGP 22.5 million in the …
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26 July 11:14 AM Eastern Company annual earnings rise 19%
Cairo-Mubasher: Eastern Company posted a 19.2% increase in its earnings for the fiscal year ended 30 June 2015. The company said in a bourse statement that the net earnings amounted to EGP 1.08 billion ($141 million), compared with EGP 908.4 …
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26 July 10:37 AM EGX indices to see positive movements this week – Analysts
  Cairo – Mubasher: Egyptian Stock Exchange (EGX) indices are expected to see upward-sideways movements during the week, with the EGX30 index poised to target the levels of 7,950 points and 8,125 points, respectively, analysts told Mubasher. Last …
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26 July 10:28 AM UAE fuel subsidy move may affect region positively – Fitch
  UAE – Mubasher: It is expected that the removal of transport fuel subsidies in the UAE may have a positive fiscal effect for other sovereigns in the region, Fitch Ratings said in a statement. Sovereigns whose public finances are under more …
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26 July 10:16 AM Pioneers submits offer to buy up Cairo Housing
Cairo-Mubasher: Egypt-based Pioneers Holding said its board approved an offer to purchase the remaining shares of Cairo for Housing and Development at EGP 11.80 ($1.51) per share for a full acquisition. Pioneers Chairman Walid Zaki said the …
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26 July 09:40 AM CBE issues EGP 7bn T-bills on Sunday
  Cairo – Mubasher: The Central Bank of Egypt (CBE) said it will issue treasury bills worth EGP 7 billion on behalf of the ministry of finance. The first tranche due in 91 days is worth EGP 3 billion in T-bills, while the second tranche amounts to …
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25 July 12:33 PM Egypt starts trial run on new Suez Canal
Cairo-Mubasher: Three cargo ships have passed through Egypt's new Suez Canal, ahead of the new waterway's official opening on 6 August. The trial run aims to demonstrate the new channel's potential capacity, said head of the traffic department at …
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24 July 05:39 PM Banque Misr claims EGP 1bn from investment firm
Cairo-Mubahser: A Cairo court has adjourned the lawsuit filed by Banque Misr against Sofisat Communication since 30 November 2012 until fully repaying EGP 967,979,000 the lender claims from the company, in addition to the contractual return on the …
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23 July 08:29 PM Emaar Misr shareholders continue support for stock
By Ahmed Allam: Cairo – Mubasher: A total of 21.28 million shares in Emaar Misr for Development were placed for selling, in a bid by investors to prop up the company’s stock, according to OPR data on the Egyptian Exchange. A fund was launched to …
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