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28 March 03:15 PM IDH’s consolidated profit dips 11% YoY in 2023
Cairo – Mubasher: Integrated Diagnostics Holdings (IDH) recorded an 11% year-on-year (YoY) decline in consolidated net profit to EGP 468 million in 2023 from EGP 527 million. Revenues increased by 14% YoY to EGP 4.12 billion last year from EGP …
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28 March 02:38 PM EBank’s shareholders pass EGP 2.4bn dividends for 2023
Cairo – Mubasher: The ordinary general meeting (OGM) of the Export Development Bank of Egypt (EBank) approved the distribution of EGP 2.45 billion in cash dividends for 2023, according to a bourse filing. EBank’s consolidated net profits after tax …
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28 March 12:42 PM MM Group posts EGP 700m consolidated profit in 2023; dividends ratified
Cairo – Mubasher: MM Group for Industry and International Trade logged a consolidated net profit of EGP 699.15 million in 2023, up from EGP 346.25 million a year earlier. The company’s net sales soared to EGP 10.35 billion last year from EGP 6.90 …
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27 March 02:14 PM e-finance’s board greenlights bonus share dividends
Cairo - Mubasher: The board members of e-finance for Digital and Financial Investments agreed, on 26 March 2024, to disburse a bonus share dividend to shareholders at a rate of 0.25 for each original share. This will be financed from the reserve …
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26 March 01:48 PM Telecom Egypt’s OGM endorses EGP 2.5bn dividends
Cairo – Mubasher: Telecom Egypt’s ordinary general meeting (OGM) has approved the distribution of EGP 2.56 billion in cash dividends for 2023. The ratified amount is equivalent to EGP 1.50 per share, according to a bourse filing. Telecom Egypt …
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26 March 11:56 AM E7 Group boosts security solutions in Middle East
Abu Dhabi – Mubasher: E7 Group inked three security solutions contracts at a total value of AED 12.90 million to expand its network in the UAE and Middle East, according to a press release. The one-year agreements cover the manufacture and supply …
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26 March 10:46 AM CIB’s shareholders nod for dividends, $1bn debt issuance
Cairo – Mubasher: The ordinary general meeting (OGM) of Commercial International Bank-Egypt (CIB) approved the distribution of EGP 0.55 per share in cash dividends for 2023. Eligible shares amount to more than 3.01 billion, according to a bourse …
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25 March 04:59 PM TMG Holding’s general assembly greenlights 2023 dividends
Cairo – Mubasher: The ordinary general meeting of Talaat Moustafa Group Holding Company (TMG Holding) approved a cash dividend of EGP 0.22 per share for 2023. The dividends will be paid in two equal installments on 31 May and 31 July 2024, …
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25 March 03:57 PM Telecom Egypt signs MoU with India’s Tejas to bolster manufacturing in Egypt
Cairo – Mubasher: Telecom Egypt has signed a memorandum of understanding (MoU) with the Information Technology Industry Development Agency (ITIDA), the National Telecommunication Institute (NTI), and India’s Tejas Networks to boost local …
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25 March 03:03 PM ADIB Egypt’s shareholders nod to EGP 1bn capital raise
Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) greenlighted the board’s proposal to raise the issued and paid-up capital by EGP 1 billion. The increase amount will be distributed over 100 million shares at a …
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25 March 02:06 PM Banque du Caire posts 113% higher profits in 2023
Cairo – Mubasher: Banque du Caire registered net profits after tax valued at EGP 6.66 billion in 2023, an annual leap of 112.77% from EGP 3.13 billion. Net interest income hiked to EGP 17.78 billion last year from EGP 12.79 billion in 2022, …
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25 March 01:13 PM EMPC’s shareholders approve 5% of capital as dividends for 2023
Cairo – Mubasher: The ordinary general meeting of Egyptian Media Production City Company (EMPC) agreed to disburse cash dividends valued at EGP 0.50 per share for 2023. The approved cash dividends represent 5% of the company’s paid-up capital, …
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25 March 12:28 PM Macro Group secures EGP 65m loan from FABMISR
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
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25 March 11:17 AM Crédit Agricole's board nods for 2023 cash dividends
Cairo – Mubasher: Crédit Agricole Egypt’s board of directors approved the distribution of EGP 1.14 per share in cash dividends for 2023. The approved dividends represent 27.92% of the distributable profits, according to a bourse filing. It is …
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24 March 03:28 PM Madinet Masr negotiating banks for credit facilities
Cairo – Mubasher: Madinet Masr Housing and Development is in talks with a syndicate of banks for credit facilities to fund its commercial projects. Official contracts will be signed upon the finalisation of the negotiations, Madinet Masr stated, …
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24 March 10:54 AM Orascom Financial Holding swings to profitability in 2023
Cairo – Mubasher: Orascom Financial Holding (OFH) turned to profitability in 2023, recording a consolidated net profit after tax of EGP 20.45 million, compared to a net loss of EGP 133.39 million a year earlier. Operating revenues reached EGP …
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21 March 03:07 PM Elsewedy Electric ups credit facility deal with Afreximbank to $300m
Cairo – Mubasher: Elsewedy Electric Company’s board approved increasing a revolving facility agreement with the African Export-Import Bank (Afreximbank) to $300 million. The agreement was also signed with Elsewedy Electric for Transmission and …
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21 March 01:15 PM EFG Hermes leads $429m IPO of Parkin for DFM listing
Mubasher: EFG Hermes, an EFG Holding Company, concluded its advisory on the $428.70 million initial public offering (IPO) of Parkin on the Dubai Financial Market (DFM), according to a press reelase. EFG Hermes acted as a joint bookrunner on the …
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20 March 01:32 PM Mopco releases payment date for EGP 2/shr dividends
Cairo – Mubasher: Misr Fertilizers Production Company (Mopco) unveiled payment dates for EGP 2 per share in cash dividends for the ordinary and senior shareholders for the financial year 2023. The payment date is 7 April 2024 for ordinary …
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20 March 01:00 PM EFG Holding’s consolidated profit soars 39% YoY in 2023
Cairo – Mubasher: EFG Holding recorded a consolidated net profit after tax and minority interests of EGP 2.49 billion in 2023, up 39% year-on-year (YoY) from EGP 1.80 billion. The company’s group net operating revenue surged 34% YoY to EGP 14.72 …
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20 March 11:44 AM Valu mulls offering 25% stake on Egyptian Exchange – CEO
Cairo – Mubasher: Fintech company Valu, a subsidiary of EFG Holding Company, is considering an initial public offering (IPO) of 25% of its shares on the Egyptian Exchange within the next 12 months, revealed Walid Hassouna, CEO of Valu, in an …
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19 March 04:35 PM EG Bank’s shareholders nod to capital increase
Cairo – Mubasher: The shareholders of Egyptian Gulf Bank (EG Bank) agreed to disburse EGP 250.25 million bonus shares at a nominal value of EGP 0.02 per share. The ordinary general meeting (OGM) greenlighted the bonus shares, on 18 March 2024, in …
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19 March 01:25 PM Global energy transition efforts face hard realities – Aramco’s CEO
Riyadh – Mubasher: The global energy transition strategy has not succeeded in many aspects due to five hard realities that should be considered to adjust its path, stated Amin Nasser, President & CEO of Saudi Arabian Oil Company (Aramco). These …
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18 March 03:30 PM Madinet Masr considers purchase of 400 feddans in North Coast – CEO
By Abdullah Bedir Cairo – Mubasher: Madinet Masr Housing and Development is seeking to acquire massive land in Egypt’s North Coast at a minimum area of 400 feddans, stated Abdallah Sallam, the company’s president and CEO. Sallam revealed on the …
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18 March 03:27 PM EFG Hermes completes advisory on Cenomi Retail’s sale deal
Mubasher: EFG Hermes, an EFG Holding Company concluded advisory on a merger and acquisition (M&A) deal for Cenomi Retail, according to a press release. The retail giant plans to sell a select portfolio of brands to Abdullah Al Othaim Fashion …