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23 April 10:16 AM

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31 minutes ago Spinneys unveils price range for IPO on DFM, expansion plans
UAE – Mubasher: Spinneys 1961 Holding set the price range for its initial public offering (IPO) on the Dubai Financial Market (DFM) between AED 1.42 and AED 1.53 per Share. The IPO will imply a market cap at the time of listing of between nearly …
Companies Investments
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22 April 06:24 PM Zahraa Maadi obtains regulatory nod for authorised, issued capital increase
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved for Zahraa Maadi Investment and Development to raise its authorisied capital by EGP 4 billion from EGP 1 billion. The listed company aims to increase the authorised capital to EGP …
Real estate
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22 April 06:10 PM Egypt, Fujairah discuss building oil products free zone
Cairo – Mubasher: The Egyptian government is in talks with the UAE’s Emirate of Fujairah and Brooge Petroleum and Gas Investment Company (BPGIC) to sign a preliminary agreement for building a free zone for production, storage, and trade of oil and …
Companies Investments
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22 April 05:35 PM CI Capital to distribute dividends for 2023 upon Banque Misr’s proposal
Cairo – Mubasher: The ordinary general meeting (OGM) of CI Capital Holding for Financial Investments resolved the distribution of EGP 216.90 million worth of cash dividends for 2023, unlike the board’s previous recommendation not to pay out cash …
General Assembly
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22 April 04:53 PM Elsewedy Electric’s shareholders nod for EGP 30m capital cut, over EGP 1bn dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Elsewedy Electric Company agreed to disburse EGP 0.50 per share as a cash dividend for 2023. The company will pay out a total amount of EGP 1.06 billion to the eligible equityholders of …
Management Decisions
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22 April 01:51 PM Egypt seeks 4.2% economic growth in FY24/25 – El-Said
Cairo – Mubasher: Egypt is targeting a 4.20% economic growth rate in the fiscal year (FY) 2024/2025, stated Hala El-Said, Minister of Planning and Economic Development. The Egyptian government revised down growth prediction for FY23/24 from 4% to …
Macroeconomics
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22 April 01:02 PM Egyptian gov’t buys 200,000 tonnes of raw sugar
Cairo – Mubasher: Egypt’s General Authority for Supply Commodities (GASC) has contracted 200,000 tonnes of raw sugar for delivery between May and August 2024. As a result, the recently contracted amount has reached 450,000 tonnes, according to an …
Macroeconomics
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22 April 12:39 PM Egypt-based Waffarha raises funding round from Saudi venture
Cairo – Mubasher: Egypt's premier group-buying website and mobile app Waffarha has secured a Seed funding round from Saudi Value Makers Studio (VMS), according to a press release. The investment aligns with the platform’s expansion plans into the …
Companies Investments
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22 April 12:10 PM Fitness Prime anchors expansion plans via unit in Saudi Arabia
Cairo – Mubasher: The ordinary general meeting (OGM) of Fitness Prime Health Clubs agreed to raise the issued and paid-up capital to EGP 82.15 million from EGP 66.25 million. The EGP 15.90 million increase will be granted from the company’s net …
Corporate Actions
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22 April 11:19 AM Misr Beni Suef Cement to pay EGP 260m in dispute settlement
Cairo – Mubasher: Misr Beni Suef Cement has agreed to pay EGP 260 million to settle a contractual dispute with Arab Swiss Engineering Company (ASEC), a subsidiary of Qalaa Holdings. Under the settlement deal, Misr Beni Suef Cement will receive an …
Law
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22 April 11:09 AM Cleopatra Hospitals Group’s shareholders approve EGP 56m dividends
Cairo – Mubasher: The shareholders of Cleopatra Hospitals Group greenlighted cash dividends distribution valued at EGP 55.95 million for 2023, according to a bourse filing. The board passed the annual dividends last March, while the shareholders …
Cash Dividends
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22 April 10:41 AM PIF, stc to form region’s largest telecom tower company
Riyadh – Mubasher: The Public Investment Fund (PIF) inked a sale and purchase agreement (SPA) with Saudi Telecom Company (stc), on 21 April 2024, for a stake acquisition in TAWAL.  The Saudi fund unveiled plans to own 51% shareholding in TAWAL, …
Global Economy
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22 April 09:49 AM CBE issues two-type T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) worth EGP 4 billion on Monday, 22 April, through one issue. The semi-annual tranche will mature in three years on 16 April 2027, according to official data. …
Banking and Finance
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21 April 05:07 PM Suez Canal Technology delivers growth in H1-23/24 financial results
Cairo – Mubasher: Suez Canal Company for Technology Settling achieved consolidated net profits after tax amounting to EGP 716.75 million in the first half (H1) of fiscal year (FY) 2023/2024. The recorded net profits were higher year-on-year (YoY) …
Financial Results
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21 April 04:10 PM Palm Hills Developments in talks with 3 banks for EGP 1.7bn loan
Cairo – Mubasher: Palm Hills Developments Company has confirmed a media report that it is in talks with a syndicate of three banks for a loan totalling EGP 1.72 billion. The company said that it is in the final stages of these talks, according to …
Companies Investments
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21 April 03:40 PM Obour Land to distribute EGP 0.94/shr dividends in May
Cairo – Mubasher: Obour Land for Food Industries has announced the distribution of EGP 0.95 per share in cash dividends for the year 2023. Dividends will be paid on 9 May 2024 to whoever holds the share until 2 May, according to a bourse filing. …
Cash Dividends
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21 April 02:00 PM B Investments completes acquisition of Orascom Financial Holding
Cairo – Mubasher: B Investments Holding has acquired a 90% stake in Orascom Financial Holding (OFH), according to a bourse disclosure. The transaction was concluded on 17 April 2024, while the Financial Regulatory Authority (FRA) granted its …
Companies Investments
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21 April 01:58 PM Egyptian gov’t cuts cooking oil price by 36%
Cairo – Mubasher: The Egyptian government has reduced cooking oil prices by 36% to around EGP 65 per litre, said Ali El-Moselhi, Minister of Supply and Internal Trade. El-Moselhi noted an increase in the supply of basic commodities following the …
Macroeconomics
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21 April 12:56 PM UK’s SDX Energy announces plan to exit Egypt
Cairo – Mubasher: UK-based SDX Energy has announced that it will fully exit Egypt after selling interests in West Gharib and South Disouq oil concessions. The company stated that it sold its interests in West Gharib’s concession for $6.60 million, …
Companies Investments
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21 April 12:46 PM RAYA CX names El-Khishen as new CEO
Cairo – Mubasher: Raya Customer Experience (RAYA CX) has appointed Alaa El-Khishen as its new CEO, according to a recent press statement. El Khishen has more than 30 years of experience in the telecommunications, outsourcing, and technology …
Corporate Actions
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21 April 11:59 AM Chinses companies ink 14 agreements to launch projects in Egypt
Cairo – Mubasher: Egyptian and Chinese companies have signed 14 agreements to launch various projects in Egypt. The agreements were signed during the Egypt-China Cooperation and Exchange Conference in the Chinese province of Zhejiang, according to …
Event
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21 April 10:38 AM CBE unveils T-bills worth EGP 55bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 55 billion through two offerings on Sunday, 21 April 2024. The first issue was valued at EGP 30 billion, holding a tenor of 91 days …
Treasury Bills
Marco Arcelli, CEO of ACWA Power, and Francesco La Camera, Director-General of IRENA
21 April 09:45 AM ACWA Power, IRENA join forces to boost global renewable energy transformation
Riyadh – Mubasher: ACWA Power Company teamed up with the International Renewable Energy Agency (IRENA) to back the global transition to renewable energy sources, according to a press release. The agreement with IRENA aligns with ACWA Power's …
Companies Investments
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17 April 03:07 PM Egypt to auction additional T-bills worth EGP 50bn
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) amounting to EGP 50 billion through two auctions on Thursday, 18 April 2024. The first offering will total EGP 30 billion and is scheduled to mature in 182 days …
Banking and Finance
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18 April 04:42 PM E7 Group fuels growth in MEA region with new agreements
Abu Dhabi – Mubasher: E7 Group penned multiple new contracts to provide security solutions and commercial printing services across the MEA region. The agreements align with the group’s strategy to boost global expansion and profitable growth, …
Companies Investments