Local Economy

Cairo – Mubasher: The Egypt Purchasing Managers’ Index (PMI) rose in May 2024 to its highest level since August 2021, reaching a point close to the growth threshold of 50, as cooling inflation since early 2024 encouraged demand stabilisation. The …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a value of EGP 3 billion through one issue on Monday, 3 June. The offering will mature in three years on 4 June 2027, according to official data. Additionally, …

UAE - Mubasher: The Dubai Chamber of Commerce highlighted that the GCC market remained the top global export and re-export destination for its member companies in the first quarter (Q1) of 2024. The GCC region accounted for 55.50% of total exports …

Cairo – Mubasher: Egypt’s foreign asset deficit declined about 12.65% month-on-month (MoM) to EGP 174.38 billion ($3.70 billion) in April 2024, a new record low after reaching a 25-low in March. Total foreign assets in the Egyptian banking system …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through two issues on Sunday, 2 June. The first tranche stood at EGP 30 billion and will mature in 91 days on 3 September 2024, …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 45 billion through two tranches on Thursday, 30 May 2024. The first auction was valued at EGP 25 billion and will mature in 182 days on 3 …

Mubasher: The crude oil market is witnessing a rise due to escalating tensions in the Middle East following the killing of an Egyptian soldier in a clash with Israeli forces, according to a report by Saxo Bank. The price of West Texas Intermediate …

Mubasher: The Middle East ranked as the fastest-growing real-time payment market for the second consecutive year in 2023, according to the 2024 Prime Time for Real-Time report by ACI Worldwide and GlobalData. The region's real-time payment market …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a combined value of EGP 3.50 billion through two tranches on Monday, 27 May. The first auction stood at EGP 3 billion and will mature in three years on 7 May …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 60 billion through two tranches on Sunday, 26 May 2024. With a tenor of 91 days until 27 August this year, the first issue was valued at …

Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has decided to maintain interest rates. The MPC kept the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25%, …

Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources plans to operate a new transportation pipeline for petroleum products on the Mediterranean coast, according to Al Arabiya Business. The new pipeline will link the MIDOR oil …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 50 billion through two equal auctions on Thursday, 23 May 2024. The first tranche will mature in 182 days on 26 November this year, while the …

Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, has directed the disbursement of EGP 500 million as additional financing for the timely payment of salaries of employees at special funds and accounts across governorates, …

Cairo – Mubasher: The Central Bank of Egypt (CBE) has withdrawn EGP 872.55 billion in liquidity from Egyptian banks in a fixed-rate deposits offering on Tuesday. The CBE accepted 31 bids at an average yield of 27.75%, according to the bank’s …

Cairo – Mubasher: Leading fintech platform Valu has closed its ninth securitised bond issuance at an amount of EGP 616.75 million, according to a press release. The issuance is part of the approved extended securitization programme worth EGP 9 …

Riyadh – Mubasher: Saudi Arabia’s civil aviation sector is contributing $53 billion to the kingdom's economy, according to a report by the General Authority of Civil Aviation (GACA). The contribution of the sector to the Saudi economy includes …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 4 billion through one issue on Monday, 20 May 2024. The tranche will mature in three years on 7 May 2027, according to official data. The CBE also …

Cairo – Mubasher: The Egyptian Ministry of Environment is in talks with the International Monetary Fund (IMF) for a $1.20 billion loan under the IMF's support package for Egypt. Minister Yasmine Fouad discussed the financing package with the IMF’s …

Cairo – Mubasher: Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDRs) of the National Bank of Egypt (NBE), Banque Misr, Banque du Caire (BDC), and Commercial International Bank (CIB) from stable to positive. The …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion through two tranches on Sunday, 19 May 2024. Holding a tenor of 91 days until 20 August this year, the first issue was valued …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 45 billion through two issues on Thursday, 16 May 2024. The first tranche was valued at EGP 25 billion and will mature in 182 days on 19 …

Cairo – Mubasher: Banque du Caire has signed an agreement with the International Finance Corporation (IFC) for a $100 million loan. This agreement includes $50 million earmarked to bolster the development initiatives of small, medium, and …