Abu Dhabi – Mubasher: Fertiglobe posted an annual drop in net profit to $197 million during the first half (H1) of 2024, compared to $297.20 million. The revenues hit $1.04 billion in H1-24, marking a decline from $1.24 billion in H1-23, according …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) worth EGP 65 billion through two auctions on Thursday, 1 August 2024. The first issue was valued at EGP 35 billion and will mature in 182 days on 4 February 2025, …
UAE – Mubasher: Emirates Water and Electricity Company (EWEC) has received four proposals for its Saadiyat Island reverse osmosis desalination project in Abu Dhabi. Bids were submitted by Acciona Agua, Engie, GS Inima Environmental, and a …
Cairo – Mubasher: Zahraa Maadi Investment and Development has provided preliminary approval for a co-development project with Madinet Masr Housing and Development in New Heliopolis City. The project is situated on 41.90 acres and will fit …
Cairo – Mubasher: LG Electronics has entered into a partnership with Raya Electric, a subsidiary of Raya Holding for Financial Investment, to manufacture LG-branded home air conditioners in Egypt. For the first time in the region, Raya Electric …
Mubasher: Global demand for gold rose by 4% year-on-year (YoY) to 1,258 tonnes in the second quarter (Q2) of 2024, according to a report by the World Gold Council (WGC). The growth in demand was driven by a 53% YoY surge in over-the-counter (OTC) …
Cairo – Mubasher: Act Financial has started trading on the main market of the Egyptian Exchange (EGX) after increasing its capital by EGP 1.04 billion through issuing 360 million shares. The company’s market capitalisation has reached more than …
Cairo – Mubasher: The net profits after tax of Delta Sugar shrank by 14% year-on-year (YoY) to EGP 940.04 million in the first half (H1) of 2024 from EGP 1.08 billion. Revenues amounted to EGP 2.45 billion in the January-June 2024 period, an …
Cairo – Mubasher: The executive board of the International Monetary Fund (IMF) has completed the third review of Egypt’s $8 billion loan programme. The completion of the third review allows Egypt to receive a $820 million tranche of the loan, …
Abu Dhabi – Mubasher: ADIB Securities, a wholly owned subsidiary of Abu Dhabi Islamic Bank (ADIB), allowed trading in the US market as the first UAE Sharia-compliant broker. The newly updated trading platform, ADIBS Global, provides investors with …
Cairo – Mubasher: Cartona, Egypt's fastest-growing B2B E-commerce marketplace, has completed an $8.10 million Series A extension fundraising, according to a press release. The funding round was led by Algebra Ventures, Silicon Badia, and the …
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) reported a 550% year-on-year (YoY) jump in sales to EGP 390 billion ($8.10 billion) during the first seven months (7M) of 2024 from EGP 60 billion. The significant increase in …
Cairo – Mubasher: The Egyptian Cabinet has approved the final draft outlining the requirements, determinants, and mechanisms for implementing a new tourism sector support initiative. The initiative, funded by the Ministry of Finance with EGP 50 …
UAE – Mubasher: HDI Global SE has received a regulatory licence from the Dubai Financial Services Authority (DFSA) to open an office in the Dubai International Financial Centre (DIFC), marking a significant step in their international expansion. …
Mubasher: Educatly has secured a new funding round of $2.50 million led by TLcom Capital and Plus VC, according to a press. The fundraising transaction, which Egypt Venture and the HBAN syndicate also led, anchors Educatly’s presence in the MEA …
Mubasher: NIP Group Incorporation, a leading esports organisation, has priced its initial public offering (IPO) of 2.25 million American depositary shares (ADSs) at $9.00 per ADS, according to a press release. The total offering size stood at …
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) has achieved a significant milestone in advancing 5G technology in the Middle East and Africa (MEA) in partnership with Nokia and MediaTek. A recent trial boosted uplink (UL) …
Cairo – Mubasher: Egypt’s production of steel rebar hiked by 37% year-on-year (YoY) to 4.15 million tonnes in the first half (H1) of 2024. The production growth was backed by the availability of the dollar currency and companies' tendency to …
Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, has signed two agreements with international companies for natural gas exploration and production, with total investments of $342 million. The first …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 60 billion through two offerings on Monday, 29 July 2024. The first tranche stood at EGP 40 billion and will mature in 91 days on 29 …
Cairo – Mubasher: Six of October Development and Investment (SODIC) logged a consolidated net profit of EGP 629.56 million in the first half (H1) of 2024, up from EGP 341.71 million in H1-23. Total real estate revenues rose to EGP 3.51 billion in …
Cairo – Mubasher: Egyptian fintech company MNT-Halan has acquired Tam Finans, a Turkish commercial finance company with loan book exceeding $300 million, from Actera Group, and the European Bank for Reconstruction and Development (EBRD). Legal and …
Cairo – Mubasher: Beltone Mortgage, a subsidiary of Beltone Holding, has captured a 22.25% market share in the Egyptian market during the first half (H1) of 2024. In H1-24, the company provided real estate financing totalling EGP 2.60 billion to …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through two auctions on Sunday, 28 July 2024. The first tranche was valued at EGP 30 billion, carrying a maturity period of 182 …
Cairo – Mubasher: Japanese Company Sharp and Elaraby Group signed a partnership agreement to manufacture refrigerators and deep freezers with investments of $50 million, according to an official statement. Construction of the factory and …
