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20 January 03:10 AM

Mubasher Exclusive

Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
Macroeconomics
head of ITDA, Ibrahim Ashmawy
7 January 10:39 PM Trading on Egypt’s new commodities exchange to start by year-end
By: Mohammad Mowafy Cairo – Mubasher: The first trading transaction of strategic commodities on the Egyptian Commodities Exchange (EGYCOMEX) is expected to take place by the end of 2020, head of The Egyptian Internal Trade Development Authority …
Trading Activities
Bahrain launched Cloud First Policy in 2017
7 January 03:58 PM Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
By: Ingy ElSafy & Moslem Ali Mubasher: Startup Bahrain is a national initiative launched in 2016 for the purpose of facilitating all tools required for small business to build and establish themselves while growing into international and regional …
Sector Reports
Photo Archive
6 January 03:32 PM Egypt’s gold reserves rise 21.5% in 2019
Cairo – Mubasher: Egyptian gold reserves increased by 21.5% or $585 million to reach $3.301 billion by the end of December 2019, compared to $2.71 billion at the end of 2018. On a monthly basis, gold’s share in Egypt’s reserves rose by around 5% …
Macroeconomics
The EGX70 index went down by 22.97%
31 December 2019 08:38 PM EGX suffers EGP 14bn loss in 2019 despite recovery of Egyptian economy
By: Heba El Kordy Cairo – Mubasher: Despite the positive outcomes of Egypt’s economic reform programme, the Egyptian Exchange’s (EGX) market capitalisation lost EGP 14 billion during the full year 2019, with lower liquidity. The benchmark index, …
Sector Reports
Fawry’s IPO led the 2019 offerings
26 December 2019 02:19 PM EGX sees EGP 5.1bn offerings in 2019
By: Heba El-Kordy Cairo – Mubasher: The Egyptian Exchange (EGX) has witnessed four initial and secondary public offerings during 2019. The EGX hosted the offerings of Eastern Co, Speed Medical Co, Fawry for Banking Technology and Electronic …
Initial Public Offerings
Salma is the Arabic version of Google Home and Amazon Alexa
26 December 2019 02:08 PM Story behind first Arabic voice assistant ‘Salma’ – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Salma, the first Arabic personal digital assistant developed by Mawdoo3, was among tech startup success stories featured in the recent RiseUp Summit, held in Cairo on 5-7 December. Mubasher visited …
Event
Egypt’s IDB injected $2.3 billion financing for about 190 clients
24 December 2019 05:13 PM Industrial Development Bank gains EGP 480m profits
By: Islam Fadl Cairo - Mubasher: The Industrial Development Bank (IDB) in Egypt has achieved EGP 480 million profits since the beginning of 2019, the deputy chairman of the bank, Hamdy Azzam, said. In a phone interview with Mubasher, Azzam noted …
Banking and Finance
Natural gas has been delivered to about 400,000 customers
23 December 2019 01:05 PM NBE offers EGP 800m funding to extend natural gas to houses
By: Islam Fadl Cairo – Mubasher: The National Bank of Egypt (NBE) has injected EGP 800 million in funding to deliver natural gas to houses in collaboration with specialised companies, head of retail risk group at the bank, Karim Sous, told …
Banking and Finance
Pakiza Abdulrahman, Manager of Business Development for Startups at EDB
22 December 2019 00:20 PM Pakiza Abdulrahman: We encourage Egyptian startups to set up in Bahrain – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Bahrain is opening its arms for Egyptian startups with flexible and progressive sentiment, and is keen on doing what is best for organizations, startups, and regulators, as described by Pakiza …
Global Economy
Vera Futorjanski during a panel at RiseUp Summit 2019
22 December 2019 10:50 AM Vera Futorjanski: Startups must focus on solving local challenges – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Vera Futorjanski, Director of Innovation and Partnerships at 500 Startups, recently participated in the RiseUp Summit 2019, held in the American University in Cairo (AUC) on 5-7 December, where she …
Event
The average yield on five-year notes stood at 13.818%
18 December 2019 04:35 PM Yield on 5-year T-bonds hits lowest level since March 2015
By: Heba El-Kordy Cairo – Mubasher: Egypt’s debt instruments have remained attractive to foreign investors, despite four rate cuts during 2019. The yield on five-year treasury bonds (T-bonds) offered in an auction on Monday registered its lowest …
Banking and Finance
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Banking and Finance
Egypt's interest rates are still attractive as compared to other emerging markets
17 December 2019 05:28 PM Net foreign investments in Egypt’s T-bills rise $9bn in 2019
By: Heba El-Kordy Cairo – Mubasher: Net foreign investments in Egypt’s treasury bills (T-bills) have increased by $8-9 billion since the beginning of 2019, Fakhry Elfiky, a board member at the Central Bank of Egypt (CBE), said. Egypt’s T-bills …
Treasury Bills
The Egyptian government unveiled an EGP 100 billion initiative to fund businesses
16 December 2019 01:58 PM Loan defaulters in industrial sector owe Banque Misr EGP 1.58bn
By: Islam Fadl Cairo – Mubasher: Banque Misr has 102 loan defaulters in the industrial sector that are eligible for the Central Bank of Egypt’s (CBE) initiative, the bank's vice chairman Akef El-Maghraby told Mubasher. The total value of defaulted …
Central Banks
Mohamed Okasha, Managing Director of Fawry
15 December 2019 03:18 PM Interview: Fawry will use blockchain technology – Mohamed Okasha
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Fawry has been in the Egyptian market for over a decade, and recently listed on the Egyptian Exchange (EGX). During this time, the leading e-payment network proved itself as an “enabler”, said …
Event
MubasherTrade’s authorised capital will also be raised to EGP 200 million
15 December 2019 01:59 PM MubasherTrade’s shareholders nod to 200% capital raise
By: Mahmoud Gamal Cairo – Mubasher: Shareholders of Mubasher International Trade for Securities (MubasherTrade), a subsidiary of Mubasher Capital Holding for Financial Investments, have approved tripling the company's company during a general …
Companies Investments
The funding will be limited to residential units valued at less than EGP 2.25 million
15 December 2019 01:24 PM Credit Agricole Egypt to inject EGP 500m funding to CBE’s mortgage initiative – Interview
By: Islam Fadl Cairo – Mubasher: Credit Agricole Egypt aims to inject EGP 500 million funding into the new mortgage initiative launched by the Central Bank of Egypt for middle-income people, the bank’s managing director Walie El-Din Lotfy said in …
Real estate
Egypt's retail loan portfolio reached EGP 86.3 billion
12 December 2019 04:10 PM NBE targets further EGP 38bn SME funding by end FY19/20 – Interview
By: Islam Fadl Cairo – Mubasher: Funding small- and medium-sized enterprises (SMEs) is one of the top priorities of the National Bank of Egypt (NBE) in the current period. The state-run bank aims to raise its SME funding portfolio to EGP 100 …
Banking and Finance
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 2019 01:31 PM ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Blockchain is increasingly carving out the space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat expected to reshape the future of finance as many countries …
Tribal Credit recently closed a $5.5 million Seed round
12 December 2019 00:04 PM How startups benefit from blockchain at Tribal Credit – Interview with Mohamed ElKasstawi
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups nowadays should look for new ways to boost their business, and one of these ways is using blockchain technologies and digital money. The US-based Tribal Credit, headquartered in Silicon …
Banking and Finance
The reduction will range from EGP 6,000 to a maximum of EGP 10,000
11 December 2019 05:04 PM Egypt to witness price reduction in three car models by 2020
By: Mohamed Mowafy Cairo – Mubasher: Car prices in Egypt are expected to witness further reduction starting from January 2020 in tandem with the implementation of the final tranche of tariff reductions on imported cars from Turkey with a 60% local …
Macroeconomics
Sawiris set the mastering plan for Andermatt
11 December 2019 11:08 AM Except for El Gouna, all projects came by coincidence – Samih Sawiris in RiseUp
By: Ingy ElSafy Cairo -Mubasher: On the final day of the RiseUp Summit 2019, the Egyptian tycoon Samih Sawiris was hosted to talk to the attendees about different topics and events, whether by speaking out on personal or business matters. The …
Real estate
Defaulting factories in Egypt have reached a total of 1,900
10 December 2019 05:15 PM Total debt of 1,900 defaulting factories hits EGP 3.5bn–NBE
By: Islam Fadl Cairo – Mubasher: Defaulting factories in Egypt have reached a total of 1,900, the National Bank of Egypt’s (NBE) deputy chairman Yehia Aboul Fotouh said. Total overdue debts owed by those factories have stood at EGP 3.5 billion, …
Banking and Finance
This service will be launched by the first quarter of 2020
10 December 2019 04:39 PM I-Score mulls 3 European offers for ‘Nano Loans’ app
By: Islam Fadl Cairo – Mubasher: The Egyptian Credit Burea “I-Score” is currently considering three European offers to launch “Nano Loans” via mobile phones.  This service will be launched in the Egyptian market by the first quarter of 2020, in …
Companies Investments