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4 hours ago Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
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5 hours ago IDH’s consolidated profit dips 11% YoY in 2023
Cairo – Mubasher: Integrated Diagnostics Holdings (IDH) recorded an 11% year-on-year (YoY) decline in consolidated net profit to EGP 468 million in 2023 from EGP 527 million. Revenues increased by 14% YoY to EGP 4.12 billion last year from EGP …
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02:38 PM EBank’s shareholders pass EGP 2.4bn dividends for 2023
Cairo – Mubasher: The ordinary general meeting (OGM) of the Export Development Bank of Egypt (EBank) approved the distribution of EGP 2.45 billion in cash dividends for 2023, according to a bourse filing. EBank’s consolidated net profits after tax …
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12:42 PM MM Group posts EGP 700m consolidated profit in 2023; dividends ratified
Cairo – Mubasher: MM Group for Industry and International Trade logged a consolidated net profit of EGP 699.15 million in 2023, up from EGP 346.25 million a year earlier. The company’s net sales soared to EGP 10.35 billion last year from EGP 6.90 …
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11:45 AM CBE auctions EGP 55bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through auctions on Thursday, 25 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …
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27 March 04:51 PM Egypt’s Sprints raises $3m funding round
Cairo – Mubasher: Sprints.ai, the AI-powered edtech, has raised $3 million from a bridge fundraising round led by EdVentures and CFYE, among other investors. The fundraising transaction boosts Sprints' growth objectives as it doubles down on its …
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27 March 03:59 PM Egypt’s FX receipts drop 24% YoY in FY22/23 – CAPMAS
Cairo – Mubasher: Egypt's total foreign exchange receipts declined by 24% year-on-year (YoY) to $121.90 billion during the fiscal year (FY) 2022/2023 from $160.50 billion in FY 2021/2022. Total foreign exchange payments plunged by 27.10% YoY to …
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27 March 02:14 PM e-finance’s board greenlights bonus share dividends
Cairo - Mubasher: The board members of e-finance for Digital and Financial Investments agreed, on 26 March 2024, to disburse a bonus share dividend to shareholders at a rate of 0.25 for each original share. This will be financed from the reserve …
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26 March 06:40 PM iSON Xperiences acquires UK-based EC Outsourcing, endorses current 3,500 Egyptian employees
Cairo – Mubasher: iSON Xperiences, operating in Africa and Egypt, has acquired UK’s EC Outsourcing Company, a step that will endorse iSON Xperiences’ offshoring capabilities in Egypt, South Africa, India, and other locations. iSON Xperiences’ …
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26 March 02:54 PM Mubadala Investment acquires 100% of pan-African biopharmaceuticals platform KELIX bio
UAE – Mubasher: Mubadala Investment Company has acquired a 100% stake in KELIX bio, a leading emerging markets biopharmaceuticals platform. The sold stake represents the full ownership of Development Partners International (DPI), an investment …
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26 March 01:48 PM Telecom Egypt’s OGM endorses EGP 2.5bn dividends
Cairo – Mubasher: Telecom Egypt’s ordinary general meeting (OGM) has approved the distribution of EGP 2.56 billion in cash dividends for 2023. The ratified amount is equivalent to EGP 1.50 per share, according to a bourse filing. Telecom Egypt …
Bassel El-Tokhy, Group COO of Valu, and Karim El-Sherif, Chief Marketing Officer – Africa at P&G
26 March 12:39 PM Valu to facilitate accessibility of Braun’s products in Egypt
Cairo – Mubasher: Fintech company Valu teamed up with Proctor & Gamble (P&G) to provide advanced financing solutions for Braun's grooming products' consumers in Egypt. The partnership aims to boost accessibility to Braun's grooming products by …
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26 March 11:56 AM E7 Group boosts security solutions in Middle East
Abu Dhabi – Mubasher: E7 Group inked three security solutions contracts at a total value of AED 12.90 million to expand its network in the UAE and Middle East, according to a press release. The one-year agreements cover the manufacture and supply …
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26 March 10:46 AM CIB’s shareholders nod for dividends, $1bn debt issuance
Cairo – Mubasher: The ordinary general meeting (OGM) of Commercial International Bank-Egypt (CIB) approved the distribution of EGP 0.55 per share in cash dividends for 2023. Eligible shares amount to more than 3.01 billion, according to a bourse …
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25 March 04:59 PM TMG Holding’s general assembly greenlights 2023 dividends
Cairo – Mubasher: The ordinary general meeting of Talaat Moustafa Group Holding Company (TMG Holding) approved a cash dividend of EGP 0.22 per share for 2023. The dividends will be paid in two equal installments on 31 May and 31 July 2024, …
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25 March 04:08 PM SCZONE unveils project awards worth $2.8bn
Cairo – Mubasher: The Suez Canal Economic Zone (SCZONE) has a total of 127 project awards in industrial zones and ports at an investment cost of $2.80 billion in the July 2023-21 March 2024 period. SCZONE established 63 new companies with 48.5% …
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25 March 03:57 PM Telecom Egypt signs MoU with India’s Tejas to bolster manufacturing in Egypt
Cairo – Mubasher: Telecom Egypt has signed a memorandum of understanding (MoU) with the Information Technology Industry Development Agency (ITIDA), the National Telecommunication Institute (NTI), and India’s Tejas Networks to boost local …
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25 March 03:03 PM ADIB Egypt’s shareholders nod to EGP 1bn capital raise
Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) greenlighted the board’s proposal to raise the issued and paid-up capital by EGP 1 billion. The increase amount will be distributed over 100 million shares at a …
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25 March 02:06 PM Banque du Caire posts 113% higher profits in 2023
Cairo – Mubasher: Banque du Caire registered net profits after tax valued at EGP 6.66 billion in 2023, an annual leap of 112.77% from EGP 3.13 billion. Net interest income hiked to EGP 17.78 billion last year from EGP 12.79 billion in 2022, …
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25 March 01:13 PM EMPC’s shareholders approve 5% of capital as dividends for 2023
Cairo – Mubasher: The ordinary general meeting of Egyptian Media Production City Company (EMPC) agreed to disburse cash dividends valued at EGP 0.50 per share for 2023. The approved cash dividends represent 5% of the company’s paid-up capital, …
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25 March 12:28 PM Macro Group secures EGP 65m loan from FABMISR
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
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25 March 12:07 PM CBE unveils debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a value of EGP 2.50 billion through one tranche. The auction will mature in three years on 19 March 2027, according to official data. The financial authority …
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25 March 11:52 AM BKN301 empowers banks, fintech companies in MENA via new platform
Mubasher: BKN301 Group launched its BKN301 banking-as-a-service (BaaS) Orchestrator solution to reshape the financial landscape in the MENA region, according to a press release. The platform aims to enable businesses of all sizes, particularly …
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25 March 11:17 AM Crédit Agricole's board nods for 2023 cash dividends
Cairo – Mubasher: Crédit Agricole Egypt’s board of directors approved the distribution of EGP 1.14 per share in cash dividends for 2023. The approved dividends represent 27.92% of the distributable profits, according to a bourse filing. It is …
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24 March 04:33 PM EGX closes Sunday in green zone
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed higher at the end of Sunday’s session, with the EGX30 main index up by 0.02% to 29,060.02 points. The small- and mid-cap EGX70 EWI rose by 1.22% at 6,676.65 points. Similarly, the …