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14 May 07:08 PM

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2 hours ago Egyptian Exchange sees negative performance on Tuesday
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) ended in the red territory on Tuesday, with the EGX30 main index declining by 0.16% to 25,339.77 points. The small- and mid-cap EGX70 EWI shrinks 0.56% to close at 5,444.38 points. The …
Trading Activities
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3 hours ago Al Baraka Group launches portal to boost Egyptian, Pakistani cooperation
Mubasher: Al Baraka Banking Group (ABG), listed on Bahrain Bourse and the Egyptian Exchange (EGX), has launched an inter-franchise collaboration portal to enhance business opportunities for customers in Egypt and Pakistan. The partnership …
Banking and Finance
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4 hours ago Emaar Misr’s consolidated profit leaps to EGP 5.7bn in Q1-24
Cairo – Mubasher: Emaar Misr for Development registered a consolidated net profit after tax of EGP 5.73 billion in the first quarter (Q1) of 2024, a surge from EGP 2.22 billion in the similar period a year earlier. Revenues, meanwhile, declined to …
Financial Results
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4 hours ago Al Baraka Bank-Egypt’s consolidated profits jump to EGP 553m in Q1-24
Cairo – Mubasher: Al Baraka Bank-Egypt recorded a consolidated net profit after tax of EGP 553.27 million in the first quarter (Q1) of 2024, up from EGP 445.68 million in the similar period a year earlier. Customers’ deposits grew to EGP 94.03 …
Banking and Finance
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09:44 AM Fawry’s consolidated profit jumps to EGP 334m in Q1-24
Cairo – Mubasher: The consolidated net profit after tax of Fawry for Banking Technology and Electronic Payments soared to EGP 333.71 million in the first quarter (Q1) of 2024 from EGP 142.05 million in the similar quarter a year earlier. …
Financial Results
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09:01 AM GCC companies raise $931m from IPOs in Q1-24 – Report
Mubasher: Initial public offering (IPO) in the GCC has raised $931 million in the first quarter (Q1) of 2024, a 73% year-on-year (YoY) plunge from $3.50 billion in the comparative period of 2023, according to a report by Kuwait Financial Centre …
Initial Public Offerings
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08:12 AM Emirates NBD-Egypt’s profits hit EGP 1.1bn in Q1-24
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of UAE-based Emirates NBD, generated EGP 1.10 billion in net profit during the first quarter (Q1) of 2024. The registered net profits were higher by EGP 128.70 million (13.30%) than EGP 964.70 …
Banking and Finance
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13 May 03:28 PM EGX30 adds 0.9% on Monday; market cap totals EGP 1.7trn
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed a varied performance on Monday, with the EGX30 main index rising by 0.90% to 25,381.25 points. The small- and mid-cap EGX70 EWI went down by 0.96% to close at 5,474.85 points. The …
Trading Activities
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13 May 02:58 PM Beltone Leasing rolls out EGP400m leaseback agreement
Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has signed a sale and leaseback agreement and factoring facility amounting to EGP400 million with IL Cazar for Urban Development. The joint deal includes a sale and …
Companies Investments
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13 May 02:08 PM Suez Canal Bank’s profit soars to EGP 611m in Q1-24
Cairo – Mubasher: Suez Canal Bank’s net profit surged to EGP 611.24 million in the first quarter (Q1) of 2024 from EGP 250.86 million in the same quarter a year earlier. Net interest income jumped to EGP 1.09 billion in Q1-24 from EGP 707.24 …
Banking and Finance
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13 May 11:36 AM ADIB Egypt’s consolidated profits hike to EGP 2.1bn in Q1-24
Cairo – Mubasher: The net profits attributable to the owners of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) surged to EGP 2.11 billion in the first quarter (Q1) of 2024, compared to EGP 1 billion. Net income from funds witnessed a year-on-year …
Banking and Finance
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13 May 10:54 AM QatarEnergy to acquire 40% of 2 offshore exploration blocks in Egypt
Cairo – Mubasher: QatarEnergy signed an agreement with ExxonMobil to acquire 40% ownership in two offshore exploration blocks in Egypt. QatarEnergy will take on a 40% stake in the Cairo and Masry offshore concession agreements, while ExxonMobil …
Companies Investments
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13 May 10:11 AM Banque du Caire secures $100m SME financing from IFC
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 …
Macroeconomics
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13 May 09:38 AM CIB records jump in Q1-24 consolidated profits to EGP 11.9bn
Cairo – Mubasher: Commercial International Bank-Egypt (CIB) logged consolidated net profits worth EGP 11.92 billion in the first quarter (Q1) of 2024, marking an annual leap from EGP 6.06 billion. Net interest income hiked year-on-year (YoY) to …
Banking and Finance
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13 May 09:32 AM UAE tops global rankings in fibre-to-the-home penetration
UAE – Mubasher: The UAE has been named the global leader in fibre-to-the-home (FTTH) penetration for the eighth consecutive year. The country has achieved an FTTH penetration rate of 99.30%, according to a report by the FTTH Council. The report …
Global Economy
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13 May 08:14 AM CBE offers EGP 9.5bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a total value of EGP 3.50 billion through two issues on Monday, 13 May 2024. The first auction stood at EGP 3 billion and will mature in three years on 7 May …
Banking and Finance
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12 May 04:26 PM EGX starts week in collective-index decline
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed a downward performance at the end of Sunday’s session, with the EGX30 main index falling by 3.26% to 25,155.92 points. The small- and mid-cap EGX70 EWI retreated by 4% to close at …
Trading Activities
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12 May 03:44 PM NHC, TMG break ground on SAR 40bn Banan City project in Saudi Arabia
Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC), in collaboration with Talaat Moustafa Group Holding Company (TMG Holding), has laid the foundations for the Banan City project in Riyadh with SAR 40 billion (approximately $12 …
Companies Investments
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12 May 08:57 AM Alexandria Container’s profit leaps 26% YoY in 9M-23/24
Cairo – Mubasher: The net profit of Alexandria Container and Cargo Handling Company surged 26% year-on-year (YoY) to EGP 4.02 billion in the first nine months (9M) of fiscal year (FY) 2023/2024, versus EGP 3.19 billion. Sales jumped 21% YoY to EGP …
Financial Results
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12 May 07:57 AM CBE unveils T-bills worth EGP 60bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at an aggregated value of EGP 60 billion through two tranches on Sunday, 12 May 2024. The first auction, which stood at EGP 30 billion, holds a tenor of 91 days …
Treasury Bills
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9 May 03:19 PM EGX’s indices rise slightly on Thursday
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) inched higher at the end of Thursday’s session, with the EGX30 main index increasing by 0.05% to 26,003.16 points. The small- and mid-cap EGX70 EWI also grew by 0.13% to close at …
Trading Activities
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9 May 12:25 PM TAQA Arabia posts 16% YoY higher consolidated profit in Q1-24
Cairo – Mubasher: TAQA Arabia recorded a 16% year-on-year (YoY) jump in consolidated net profit to EGP 102.77 million in the first quarter (Q1) of 2024 from EGP 88.38 million. Consolidated revenues grew 22% YoY to EGP 3.57 billion in Q1-24 from …
Financial Results
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9 May 11:12 AM Faisal Islamic Bank's consolidated profit leaps 181% YoY in Q1-24
Cairo – Mubasher: The consolidated net profit of Faisal Islamic Bank of Egypt jumped 180.60% year-on-year (YoY) to EGP 6.16 billion in the first quarter (Q1) of 2024 from EGP 2.19 billion. Revenues soared 78.80% YoY to EGP 11.66 billion in Q1-24 …
Financial Results
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9 May 09:41 AM Egypt's non-oil private sector marks 41st consecutive month of contraction
Cairo – Mubasher: Egypt's non-oil private market continues its downturn in April 2024, accompanied by a significant easing of inflationary pressures. The S&P Global Egypt Purchasing Managers’ Index (PMI), which provides a snapshot of operating …
Macroeconomics
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9 May 08:55 AM Egypt’s annual headline inflation decelerates over 1% in April
Cairo – Mubasher: Egypt’s annual headline inflation rate declined by 1.30% to 31.80% in April 2024 from 33.10% in March. The shrinkage in the annual inflation is attributed to a 3.70% decline in grain and bread prices, and a 1.80% decrease in meat …
Macroeconomics