Cairo – Mubasher: Alexandria Spinning and Weaving Company (Spinalex) logged net profits after tax worth EGP 103.23 million in the first nine months (9M) of fiscal year (FY) 2023/2024, an annual leap from EGP 69.86 million. The sales hiked to EGP …
Mubasher: UAE-based traveltech Tumodo has partnered with Saudi fintech Tabby to accelerate growth in the UAE travel industry, which is projected to reach $1.40 trillion by 2024. Integrating Tumodo's services into Tabby's business processes will …
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) reached a historic high of $46.12 billion at the end of May 2024. This marks an increase of approximately $5.06 billion from $41.05 billion at the end of …
Cairo – Mubasher: Egypt's House of Representatives has approved a new budget for the fiscal year (FY) 2024/2025, increasing public expenditures by approximately 29% year-on-year (YoY) to EGP 3.87 trillion, or 22.60% of GDP, Finance Minister …
Cairo – Mubasher: Ericsson teamed up with Vodafone Egypt to expand the latter’s mobile network with the introduction of Ericsson’s triple-band radio, supporting Time Division Duplex (TDD) and Frequency Division Duplex (FDD) spectrum. Radio 4466, …
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) closed the financing arrangements for the Juranah Independent Strategic Water Reservoir …
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: GYPTO Pharma, an Egyptian medical city, has entered into a strategic partnership agreement with the US-based pharmaceuticals manufacturer, Abbott, to produce six painkillers and antibiotic medications. The partnership aims to …
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, …
Abu Dhabi – Mubasher: Burjeel Holdings has signed a framework agreement to establish a joint venture (JV) AL KALMA with Keralty S.A.S, a Colombia-based multinational health organization. The alliance plans to develop and operate an integrated …
Cairo – Mubasher: EFG Hermes ONE, the online trading platform of EFG Hermes, and has entered into a partnership with Banque Misr and PayTabs Egypt. The partnership allows for the introduction of a new debit card top-up feature on the EFG Hermes …
Cairo – Mubasher: Egypt-focused insurtech company Mal Bazaar has acquired licensed insurance brokerage and securing approvals from the Egyptian Financial Regulatory Authority (FRA). The recent approvals will serve as a launchpad for Mal Bazaar to …
Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, collectively referred to as OPEC+, have agreed to extend significant oil production cuts into 2025, according to Reuters. OPEC+ has decided to …
Cairo – Mubasher: The consolidated net profit after tax of Juhayna Food Industries rose to EGP 478.74 million in the first quarter (Q1) of 2024 from EGP 339.41 million. Net sales jumped to EGP 5.75 billion in Q1-24 from EGP 3.42 billion in Q1-23, …
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: Qalaa Holdings has announced the opening of the first phase for applications to participate in the purchase of the company’s debt owed to certain banks and financial institutions. The first phase will be open between 2 and 9 …
Cairo – Mubasher: The Egyptian Exchange (EGX) has released details of the non-binding offer (NBO) for the acquisition of between 15% and 24.50% of Elsewedy Electric Company by the UAE’s Electra Investment Holding. The NBO sets the price of …
Cairo – Mubasher: The consolidated net profit of Egyptian Financial and Industrial Company (EFIC) surged to EGP 428.49 million during the first quarter (Q1) of 2024 from EGP 222.18 million in Q1-23. Net sales jumped to EGP 1.78 billion in Q1-24 …
UAE – Mubasher: Dubai-based purpose-built software as a service (SaaS) platform Growdash has raised a AED 6.80 million ($1.80 million) in a seed round, according to a press release. The fundraising transaction was led by Oryx Fund, a MENA-focused …
Cairo – Mubasher: The Arab Dairy Products Company (Arab Dairy – Panda) logged consolidated net profit after tax worth EGP 64.86 million in the first quarter (Q1) of 2024. The recorded net profits were compared with EGP 22.11 million in Q1-23, …
Cairo – Mubasher: Sinai Cement turned to a consolidated net profit of EGP 301.11 million during the first quarter (Q1) of 2024, versus a net loss of EGP 58.47 million in the same quarter a year earlier. Consolidated net sales declined to EGP 1.16 …
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, …
Mubasher: Assem El-Bassal, the CEO of Mubasher Media as well as Global Financial Media, stated that choosing Mubasher.info financial portal as the Best Economic Platform during the Arab Media Award crowns years of hard work in the economic …
UAE – Mubasher: Winning the Arab region’s Best Economic Platform award for the year 2024 confirms the efforts exerted by Mubasher.info’s team of journalists and content creators as well as the marketing and social media, stated Ahmed El-Shamsy, …
