Cairo – Mubasher: A subsidiary of the National Bank of Egypt (NBE) has submitted a request to launch a new gold investment fund, said Mohammed Fareed, Chairman of the Financial Regulatory Authority (FRA). The clientele of the only two gold …
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 …
Cairo – Mubasher: Egypt's merchandise exports rose by 5.3% year-on-year (YoY) to $9.61 billion in the first quarter (Q1) of 2024 from $9.12 billion in the same quarter of 2023. Leading destinations for Egyptian exports included Turkey ($874 …
UAE – Mubasher: Dubai International (DXB) has topped the 2023 list of top 10 busiest airports worldwide. The latest achievement marks DXB’s tenth year of leading the list, which is put by the Airports Council International (ACI), according to a …
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a value of EGP 500 million on Tuesday, 16 April 2024, through one tranche. The offering holds a tenor of five years until 16 April 2029, according to official …
UAE – Mubasher: The UAE is dependent on gas imports for power plants and water desalination plants in line with its objectives to become self-sufficient in gas supply by 2030. GlobalData, a leading data and analytics company, pointed out that …
Riyadh – Mubasher: Saudi Arabia’s consumer price index (CPI) rose by 1.60% year-on-year (YoY) in March 2024. The increase in CPI was driven by an 8.80% YoY surge in housing, water, electricity, gas, and other fuels, along with a 0.90% YoY uptick …
UAE – Mubasher: The UAE’s Ministry of Finance is participating in the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington D.C. The Emirati delegation will be led by Mohamed bin Hadi Al …
Cairo – Mubasher: Egypt has raised 24.90% in the allocation of the healthcare sector to EGP 495.60 billion in the budget for the fiscal year (FY) 2025/2026 from EGP 396.90 billion in FY 2024/2025, said Minister of Finance Mohamed Maait. The …
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion on Monday, 15 April 2024, through two auctions. The first tranche stood at EGP 30 billion and will mature in 182 days on 15 …
Cairo – Mubasher: Egypt registered a 6.10% increase in tourism revenues to $7.80 billion in the first six months (6M) of the fiscal year (FY) 2023/2024. The recorded amount is compared to$7.30 billion a year earlier, according to official data. …
Cairo – Mubasher: Egypt's overall balance of payments (BOP) deficit reached $409.60 million in the first half (H1) of fiscal year (FY) 2023/2024, registering a surplus of $599.10 million in the same period the previous year. The current account …
Cairo - Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a value of EGP 4 billion through one issue on Monday, 8 April 2024. The offering will mature in three years on 9 April 2027, according to official data. …
Riyadh – Mubasher: Nadhmi Al Nasr, CEO of Saudi Arabia's flagship project to diversify its economy away from oil, NEOM, is set to host a roadshow in Hong Kong to attract investors to support the mega-development. Scheduled for April 19 at M+ in …
Cairo – Mubasher: The National Council of Wages (NCW) in Egypt has approved raising the minimum wage for private sector workers by 71.43% to EGP 6,000 from EGP 3,500. The new minimum wage includes all wage elements, including the employer's share …
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through two tranches on Sunday, 7 April 2024. The first tranche stood at EGP 30 billion and will mature in 91 days on 9 July this …
Cairo – Mubasher: Egypt’s trade deficit dropped 37.20% year-on-year (YoY) to $2.08 billion in January 2024 from $3.32 billion in the same month of last year. The decline in the trade deficit was the result of a 25.30% YoY plunge in imports to …
Cairo – Mubasher: Egyptian Natural Gas Holding Company, a state-owned company, has bought at least one shipment of liquified natural gas (LNG) for delivery in May, according to Bloomberg. The company is considering importing more in the coming …
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 50 billion through two tranches on Thursday, 4 April 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 8 …
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) surged by $5 billion to $40.36 billion at the end of March 2024. Reserves amounted to $35.31 billion in February, according to the CBE’s data. Egypt’s NIR …
Riyadh – Mubasher: Online shopping in Saudi Arabia is expected to record a surge across many major retail and service categories during the month of Ramadan in 2024, which reflects the trust digital payment ecosystem is gaining in the Kingdom, …
UAE – Mubasher: EmiratesNBD Research cited preliminary estimates by the Statistics Centre - Abu Dhabi indicating that the capital of the UAE registered a 3.1% growth in real GDP during 2023. The non-oil sector, which expanded by 9.1% yet …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) went down to 56.9 last March from 57.1 in February 2024, according to the latest S&P Global PMI data. The data reflected the joint-fastest accumulation of backlogs of …
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia dipped from 57.2 in February to 57.0 in March 2024, according to Riyad Bank’s latest data. The PMI reading highlighted a robust improvement in …
