Mubasher: Dubai-based Seafood Souq has secured an exclusive alliance with Newsan Food, an Argentinan seafood supplier, to pave the way for direct Argentinian seafood exports to the GCC region and beyond, according to a press release. The UAE …
Cairo – Mubasher: Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has signed an EGP 160 million contract with El-Mobadara Association to finance sustainable agricultural projects and livelihoods. Bassel Rahmy, CEO of …
Cairo – Mubasher: The standalone net profits after tax of Egyptian Chemical Industries (Kima) reached EGP 102.28 million in the first nine months (9M) of fiscal year (FY) 2023/2024. The recorded net profits were lower by 90% year-on-year (YoY) …
Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development Hala El-Said has held a meeting with Minister of Labour Hassan Shehata to discuss the implementation of the recent increase in minimum wage. El-Said reiterated the …
Cairo – Mubasher: The Financial Supervisory Authority (FRA) of Emaar Misr for Development approved the company’s request to raise its issued capital by EGP 3.19 billion. The EGX-listed firm will acquire Albro North Coast for Developments and …
Abu Dhabi – Mubasher: AD Ports Group has signed a definitive concession agreement with Egypt's Red Sea Ports Authority (RSPA) to invest $4.70 million over 15 years to develop and operate three cruise terminals in the Red Sea region. The agreement …
Cairo – Mubasher: Egyptian debt market is gaining back its lure after the recent reforms in the economy and the increase in interest rates and the devaluation of the currency, according to an analysis by Financial Times. Egypt's local bonds have …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 50 billion through two offerings on Thursday, 13 June. The first auctions stood at EGP 30 billion and will mature in 91 days on 17 …
UAE- Mubasher: Nasdaq-listed Altair, a global leader in computational intelligence, has established a new office in Dubai, according to a press release. The new location, which is situated in one of Dubai's free-trade zones, expands Altair's …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
Cairo – Mubasher: China’s COSCO Shipping Ports is planning to invest $375 million in Egyptian ports during 2024, including Ain Sokhna port, the company’s Chief Accountant Zhao Fengnian said, according to Asharq Business. The new investments aim to …
UAE- Mubasher: Emirates NBD has partnered with Citi to introduce a new USD cross-border clearing service in the Middle East. Emirates NBD will be the first bank to utilise Citi’s 24/7 USD Clearing service, offering round-the-clock cross-border …
Abu Dhabi – Mubasher: Omorfia Group, a beauty anchor majority owned by Multiply Group, has fully acquired the Grooming Company Holding (TGCH), a provider of salon and beauty services in the UAE. Omorfia closed the deal with CedarBridge Capital …
Cairo – Mubasher: Egyptian pharmaceutical distribution startup i'SUPPLY closed a pre-Series A funding round, bringing total funds raised to $2.50 million. Investors in the round included Disruptech Ventures, OneStop Capital, Axian Investment CVC, …
Cairo – Mubasher: DP World plans to invest $80 million to establish a new logistics park with an area of 300,000 square metres in Ain Sokhna, according to a press release. The first phase will be completed by the end of 2024, forming a part of an …
Cairo – Mubasher: The Egyptian Exchange (EGX) has launched the Shariah-complaint index, EGX33. The index comprises 33 meticulously selected companies whose activities adhere to the principles of Islamic Shariah, according to a press release. These …
Cairo – Mubasher: Six of October Development and Investment (SODIC) has signed an agreement with Marriott International to bring the latter's Tribute Portfolio brand to two upcoming hotels. The first property, with 170 rooms, will be located …
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 45 billion through two issues on Wednesday, 12 June. The first tranche was valued at EGP 25 billion and will mature in 182 days on 17 …
Cairo – Mubasher: The International Company for Trade, Marketing, and Commercial Agencies (ITAMCO), a subsidiary of GB Corp, has signed an agreement with Helwan Company for Machinery and Equipment (999 military factory) to assemble and manufacture …
Cairo – Mubasher: Egypt’s Mineral Resources Authority (MRA), East Gas Company, and IMEX International have signed an agreement to establish a company that will increase the value of low-concentration phosphate ores. Minister of Petroleum and …
Cairo – Mubasher: The standalone net profit of Arab Cotton Ginning Company rose by 142% year-on-year (YoY) to EGP 62.68 million in the first nine months (9M) of the fiscal year (FY) of 2023/2024 from EGP 25.90 million. Operating revenues increased …
Cairo – Mubasher: The standalone net profit of Orascom Investment Holding (OIH) surged by 784.56% year-on-year (YoY) to EGP 570.19 million in the first quarter (Q1) of 2024 from EGP 64.46 million. The basic and diluted earnings per share (EPS) …
Cairo – Mubasher: Egypt has allocated EGP 5 billion to support exporting companies through the seventh phase of its immediate cash payment programme, announced Minister of Finance Mohamed Maait. The initiative has processed documentation for …
Cairo – Mubasher: Sahl has raised $6 million in Series A and seed fundings, led by Ayady for Investment and Development, along with Egypt Pay, Delta Electronic Systems, and E-Finance. The Egypt-based fintech will use the funds to develop its …
Cairo – Mubasher: Henkel Egypt renewed its collaboration with Egypt's ITIDA for three more years to strengthen IT investments and expand export services from its Cairo Global Business Solutions office. The partnership supports Egypt's digital …
