Tawasul
Mubasher TV
Contact Us Advertising   العربية

Banking and Finance

Photo Archive
3 hours ago Egypt’s int’l reserves grow in November
Cairo – Mubasher: Egypt’s net international reserves reached $33.53 billion at the end of November 2022, compared to $33.41 billion in October 2022, the Middle East News Agency (MENA) cited the Central Bank of Egypt (CBE). This represents an …
Photo Archive
6 December 04:59 PM IMF to discuss Egypt’s $3bn loan deal next week
Cairo – Mubasher: The executive board of the International Monetary Fund (IMF) has scheduled a meeting on Egypt on 16 December 2022 as the Arab world’s most populous nation awaits final approval for a $3 billion loan deal. On 5 December, the …
Photo Gallery
6 December 03:29 PM OneOrder raises $3m seed round; total investment tops $10m
Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …
Photo Archive
6 December 02:45 PM ESIIC receives int'l offers to build ethanol factory with EGP 1.5bn investments
Cairo – Mubasher: Chairman of the Egyptian Sugar and Integrated Industries Company (ESIIC), Essam El-Bedeiwy, said his company received three international offers to establish an ethanol or absolute alcohol (99.99%) extraction factory from …
Photo Archive
6 December 02:03 PM ESIIC to build 3 factories with EGP 480m investments
Cairo – Mubasher: The Egyptian Sugar and Integrated Industries Company (ESIIC) plans to establish 3 fertiliser production factories with up to EGP 480 million investments, the Middle East News Agency (MENA) reported on Tuesday. The statement was …
Photo Archive
6 December 12:22 PM EG Bank’s board approves FY23 estimated budget
Cairo – Mubasher: The board of directors of Egyptian Gulf Bank (EG Bank) has approved the bank's estimated budget for fiscal year (FY) 2023 during a meeting on Monday, 5 December. The bank’s profits are expected to grow by more than 15% on an …
Photo Gallery
6 December 10:11 AM Banque Misr, CIB provide EGP 6.35bn financing to Benya
Cairo – Mubasher: Banque Misr and Commercial International Bank (CIB) have arranged and granted joint financing worth EGP 6.35 billion to Benya Group. The funding will be used in financing projects awarded to Benya covering the technological …
Photo Archive
5 December 12:05 PM CBE issues two-type T-bonds at EGP 12.75bn on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) has offered treasury bonds (T-bonds) at an aggregated value of EGP 12.75 billion through three issues on Monday, in coordination with the Ministry of Finance (MoF) to finance the budget deficit. …
Photo Archive
5 December 09:48 AM Egypt hopes to obtain $750m of IMF loan this December – Minister
Cairo – Mubasher: Egypt's Finance Minister, Mohamed Maait, said his country hopes to obtain the first tranche of the International Monetary Fund (IMF) loan valued at $750 million this month. During a recent press conference, the minister added the …
Photo Archive
4 December 01:01 PM Egyptian Modern Education’s OGM approves EGP 100m loan
Cairo - Mubasher: The ordinary general meeting (OGM) of the Egyptian Modern Education Systems has unanimously approved interest-free financing not exceeding EGP 100 million.   The financing will be granted by the board of directors to start …
Photo Gallery
4 December 12:30 PM NBE, EGOTH sign EGP 393m financing deal to renovate Sofitel Winter Palace
Cairo – Mubasher: The National Bank of Egypt (NBE) has signed a long-term investment financing contract valued at EGP 393 million with the Egyptian General Company for Tourism and Hotels (EGOTH) to finance renovations of the Sofitel Winter Palace …
Photo Archive
4 December 11:24 AM Raya Contact Center hikes limit of loan granted to Bahrain-based unit
Cairo - Mubasher: The board of Raya Contact Center approved unanimously increasing the limit of the $500,000 loan granted to Gulf Customer Experience, a  Bahrain-based subsidiary, by an amount not exceeding $3.50 million. The loan’s maturity …
Photo Archive
4 December 10:42 AM CBE auctions EGP 27.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth EGP 27.50 billion through two offerings on Sunday, 4 December. With a tenor of 91 days until 7 March 2023, the first auction stood at EGP 7.50 billion, …
Photo Archive
1 December 02:15 PM Egypt approves $271m financing agreement with ADF
Cairo – Mubasher: The Egyptian cabinet has approved a draft decision regarding a financing agreement worth $271 million between Egypt and the African Development Bank (ADF) for a programme to support food security and economic resilience.  This …
Photo Archive
1 December 11:28 AM CBE offers EGP 26bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 26 billion through two tranches on Thursday, 1 December. The first offering stood at EGP 4.50 billion and will mature in 182 days on 6 …
Photo Gallery
1 December 10:20 AM UAE’s AMEA Power to deploy renewable energy projects in Egypt with $1.1bn investments
Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, has witnessed the signing ceremony of financial closure agreements between UAE’s AMEA Power and a number of international financing institutions at $1.10 billion. AMEA Power will …
Photo Archive
30 November 08:27 PM Dur Hospitality obtains Sharia-aligned facility from Alinma Bank
Riyadh – Mubasher: Dur Hospitality Company has secured Sharia-compliant Murabaha financing worth SAR 257 million from Alinma Bank on 29 November 2022. The Murabaha facility holds a 10 years duration period from the date of obtaining the funding, …
Photo Archive
30 November 07:54 PM Ladun Investment secures SAR 750m facility from Bank Albilad
Riyadh - Mubasher: Ladun Investment Company has obtained a non-revolving facility worth SAR 750 million from Bank Albilad on 29 November 2022, according to a bourse filing. The Tadawul-listed firm will use SAR 500 million, which will be paid over …
Photo Archive
30 November 04:45 PM Saudi Arabia extends terms of $5bn deposit for CBE
Riyadh – Mubasher: Saudi Arabia has extended the term of a deposit valued at $5 billion for the Central Bank of Egypt (CBE), Saudi Press Agency (SPA) reported.  The decision comes in line with the Kingdom's objective to boost cooperation between …
Photo Archive
29 November 05:51 PM Saudi Kayan pays final instalment of $6bn senior loans
Riyadh – Mubasher: Saudi Kayan Petrochemical Company paid $644 million (SAR 2.40 billion) as the last instalment of the senior loans worth $6 billion (SAR 22.50 billion) ahead of the scheduled plan. The Tadawul-listed company fully settled the …
Photo Archive
27 November 05:47 PM Standard Chartered Bank names Al Bunyan as CEO in Saudi Arabia
Riyadh - Mubasher: Standard Chartered Bank has appointed Mazen Fahad Al Bunyan as its CEO for Saudi Arabia, according to a recent press release. Before joining Standard Chartered Bank, Al Bunyan served as the CEO of Alawwal Invest Company, an …
Photo Archive
27 November 05:06 PM Over 39m Egyptian citizens have bank accounts - CBE
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that the financial inclusion rate soared by 131% during the period from 2016 to June 2022, the Middle East News Agency (MENA) reported on Sunday. Out of the 65.40 million citizens aged 16 …
Photo Archive
27 November 04:47 PM CBE to issue two-type T-bonds worth EGP 13.5bn on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 7.50 billion through one offering on Monday, 28 November. The tranche holds a three-year tenor until 1 November 2025, according to official data. …
Photo Archive
27 November 10:40 AM CBE auctions T-bills worth EGP 28.5bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 28.50 billion through two tranches on Sunday, 27 November. Holding a 91-day maturity period until 28 February 2023, the first auction …
Photo Archive
24 November 05:41 PM Al Salam Bank partners with Visa to enhance payment services
Mubasher: Bahrain-based Al Salam Bank, listed on Dubai Financial Market (DFM), signed an exclusive partnership agreement with Visa to provide advanced banking experience and varied payment methods for Visa cardholders, according to a press …