North africa news

Mubasher: Intelligent power management company Eaton launched a new office in Egypt, boosting its expansion strategy in the region’s growing commercial and industrial sectors, according to a press release. The new office will reinforce Eaton’s …

Cairo – Mubasher: Orascom Construction posted consolidated net profits after tax valued at $70.70 million in the first half (H1) of 2024, an annual drop of 46.80% from $132.90 million. Revenues reached $1.47 billion in H1-24, down 5.50% …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 65 billion through two auctions on Thursday, 29 August 2024. The first tranche was valued at EGP 35 billion and will mature in 182 days …

Riyadh – Mubasher: Siemens Mobility has announced Frank Hagemeier as its new CEO for Saudi Arabia, according to a press release. Hagemeier previously served as the CEO of Siemens Mobility Division in the Netherlands and China, bringing his …

Cairo – Mubasher: The Egyptian Exchange (EGX) showed a positive performance on Wednesday, with the EGX30 main index up by 1.14% to 30,709.59 points. Both the small- and mid-cap EGX70 EWI and EGX100 EWI indices closed the session higher by 0.80% at …

Cairo – Mubasher: Orascom Development Egypt has sold a commercial building to Seoudi Supermarket within the O West commercial strip at a value of EGP 332 million. the transaction aims to integrate the first supermarket in the destination, which …

Cairo - Mubasher: Egypt's Prime Minister, Mostafa Madbouly, reappointed Ahmed El-Sheikh as the Chairman of the Egyptian Stock Exchange (EGX). Meanwhile, Heba El-Serafi was announced as the Vice Chairman for a one-year term, according to an …

Cairo – Mubasher: Banque du Caire logged standalone net profits after tax valued at EGP 5.71 billion in the first half (H1) of 2024, compared to EGP 2.59 billion in H1-23. Net income hit EGP 12.84 billion as of 30 June 2024, marking a year-on-year …

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in the green zone, with the EGX30 main index up by 0.76% to 30,363.15 points. Both the small- and mid-cap EGX70 EWI and EGX100 EWI indices closed the session higher by …

Cairo – Mubasher: Madinet Masr Housing and Development signed a memorandum of understanding (MoU) with Smart Construction and Development (SCAD) for the Sarai multi-purpose project in New Cairo with a contractual value of EGP 650 million. This …

Cairo – Mubasher: MENA's leading fintech powerhouse Valu has finalised its 11th securitised bond issuance worth EGP 1.09 billion, according to a press release. The issuance marks the first under the newly approved securitisation programme valued …

Cairo – Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session with a varied performance after the EGX30 main index went up by 0.20% to 30,133.81 points. Meanwhile, the small- and mid-cap EGX70 EWI as well as EGX100 EWI indices …

Cairo – Mubasher: Mardev Developments has signed a partnership agreement with Hilton to launch Hilton Garden Inn Cairo New Zayed, according to a press release. Zohdy Zahran, Chairman of Mardev Development stated that Hilton Garden Inn Cairo New …

Cairo – Mubasher: Palm Hills Developments Company posted consolidated net profits after tax and minority interest worth EGP 1.70 billion in the first half (H1) of 2024, an annual hike of 180% from EGP 608 million. Revenues reached EGP 10.93 …

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced floating-rate treasury bonds (T-bonds) at a value of EGP 2 billion through one issue on Monday, 26 August 2024. Furthermore, the CBE auctioned zero-coupon T-bonds worth EGP 5 billion …

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session with a varied performance after the EGX30 main index increased by 0.22% to 30,073.95 points. Meanwhile, the small- and mid-cap EGX70 EWI as well as EGX100 EWI indices …

Cairo – Mubasher: Menthum, Egypt's digital savings platform, and CI Capital Asset Management launched Menthum USD Fixed Income Fund, a novel US Dollar fixed income fund. This mutual fund is developed to provide both individuals and businesses with …

Cairo – Mubasher: National Bank of Kuwait - Egypt (NBK Egypt) has logged net profits valued at EGP 3.17 billion (KWD 24.90 million) in the first half (H1) of 2024. The registered net profits were higher by 102% year-on-year (YoY) than EGP 1.57 …

Cairo – Mubasher: Gadwa for Industrial Development logged a net income before minorities of EGP 1.20 billion in the first half (H1) of 2024, higher by 115% than EGP 563 million in H1-23. Revenues exceeded EGP 9 billion as of 30 June 2024, an …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) secured a contract worth more than $200 million from the Abu Dhabi National Oil Company (ADNOC), according to a press release. The deal covers the crucial marine dredging works in the …

Cairo – Mubasher: Suez Canal Authority (SCA) increased its equity ownership in Suez Canal Bank to 3.42% from 0.001%, according to a bourse disclosure. SCA purchased 15.76 million shares in the EGX-listed lender for EGP 238.87 million, at an …

Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 60 billion through two offerings on Sunday, 25 August 2024. The first auction stood at EGP 40 billion and will mature in 91 days on 26 …

Cairo – Mubasher: Egypt-based climatetech NoorNation has secured an undisclosed investment from KBW Ventures, founded by Saudi Prince Khaled bin Alwaleed. This transaction marks KBW Ventures' initial investment in Egypt's startup ecosystem, …