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13 August 12:08 PM

Mubasher Exclusive

How the pandemic changed the e-payments outlook in MENA?
12 August 07:27 PM The future of e-payment solutions after COVID-19
By: Moslem Ali Cairo – Mubasher: “Stay Home” is a global call that spread across the world over the past months, signalling not only a new public policy and a health precaution against an infectious disease but a turning point in how markets …
Macroeconomics
The price of 24-karat gold amounted to EGP 1,046 per gram
5 August 04:05 PM Egypt's gold prices rise to all-time high
Cairo – Mubasher: Gold prices continued its rising trend in the Egyptian market, reaching an all-time high on Wednesday, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The price of 24-karat gold …
Commodities
The price of 24-karat gold stood at EGP 958.85 per gram
23 July 03:12 PM Gold prices register new record high in Egypt
Cairo - Mubasher: Gold prices in the Egyptian market recorded on Thursday its highest level ever, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The higher gold prices in the Egyptian market came …
Commodities
The sensor could be used in NASA's next Venus rover
20 July 03:51 PM Egyptian engineer wins NASA design competition
By: Moslem Ali Cairo - Mubasher: Egyptian engineer Youssef Ghali has won first place in a competition by NASA to design a sensor for a Venus exploration rover. The public competition was seeking ideas for a mechanical obstacle-avoidance sensor …
Global Economy
The webinar discussed investment opportunities in healthcare
15 July 07:35 PM Why investors should look into the Egyptian healthcare sector?
By: Moslem Ali Cairo – Mubasher: The Egyptian healthcare industry remains attractive for local and international investments, with many areas for development and expansion arising particularly in the post-COVID-19 stage, panellists agreed during a …
Sector Reports
The government pays farmers between EGP 670 and EGP 700 per ardeb
6 July 04:33 PM Egypt buys 3.5m tonnes of local wheat since mid-April
By: Mohamed Mowafy Cairo – Mubasher: The Egyptian Holding Company for Silos and Storage has received more than 3.5 million tonnes of wheat from local farmers since the beginning of this season which started in mid-April, the company’s chairman …
Commodities
The local currency depreciated by 3% against USD in the last period
23 June 05:47 PM CBE expected to keep interest rates unchanged on EGP depreciation
By: Heba El-Kordy Cairo – Mubasher: Analysts are expecting the Central Bank of Egypt’s (CBE) monetary policy committee (MPC) to keep interest rates unchanged in its next meeting on Thursday. The depreciation of the Egyptian pound by about 3% …
Macroeconomics
Egypt aims to establish and develop 47 seawater desalination plants
18 June 06:04 PM Egypt sets 5-year seawater desalination plan at EGP 45bn cost
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing’s Holding Company for Water and Wastewater (HCWW), New Urban Communities Authority (NUCA), and General Organization for Physical Planning announced a five-year plan between …
Macroeconomics
The temporary limits were imposed to encourage the use of cashless payment methods
22 April 03:13 PM Egypt to raise cash withdrawal limit for individuals in Ramadan
By: Islam Fadl Cairo – Mubasher: The Federation of Egyptian Banks (FEB) and the Central Bank of Egypt (CBE) agreed to raise the daily limit on bank and ATM cash withdrawals for individuals starting from Ramadan, FEB’s chairman Mohamed El-Etreby …
Central Banks
EFG Hermes acted as the financial advisor
13 April 06:07 PM Four banks, Saudi investor buy Sukuk issued by Talaat Moustafa’s unit
By: Islam Fadl Cairo – Mubasher: Four banks and a Saudi investor have participated in covering the Sukuk issuance issued by Talaat Moustafa Group Holding’s subsidiary Arab Company for Projects and Urban Development. The Egyptian Financial Group …
Sukuk and Islamic Finance
The projects include rerouting the International Coastal Road
1 April 05:50 PM Egypt builds roads, bridges at EGP 2.54bn in New Alamein City
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing and New Urban Communities Authority (NUCA) are developing roads and bridges in New Alamein City at a combined cost of EGP 2.54 billion, according to an official document …
Real estate
Accrued interest will be paid on a monthly basis
31 March 05:07 PM Banque Misr sells EGP 12.3bn of 15% certificates in 7 days
By: Islam Fadl Cairo – Mubasher: Banque Misr sold EGP 12.3 billion of its new 15% annual rate savings certificates in seven days, the bank’s vice chairman Akef El-Maghraby told Mubasher on Tuesday. Online sales of these certificates accounted for …
Banking and Finance
New Garden City spans over an area of 985 feddans
31 March 03:39 PM Egypt develops New Garden City at EGP 80bn
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing and the New Urban Communities Authority (NUCA) have estimated the cost of developing the New Administrative Capital's R5 residential district at EGP 80 billion. The R5 …
Real estate
A total of EGP 24.9 billion has been disbursed so far
29 March 04:17 PM Egypt’s slum development plan estimated at EGP 396.2bn
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing has estimated the cost of slum development plan at EGP 396.2 billion. The plan includes developing unsafe and unplanned areas and markets, according to a document reviewed by …
Real estate
Rate on floating certificates of deposits was cut to 10.5%
22 March 03:56 PM Banque du Caire maintains certificates interest rates unchanged
By: Islam Fadl Cairo – Mubasher: The asset-liability committee (ALCO) of Banque du Caire decided to keep the rate of return on the fixed-rate certificates of deposits unchanged despite the Central Bank of Egypt’s (CBE) recent decision to …
Banking and Finance
Certificates will be offered on Sunday
19 March 04:39 PM Banque Misr, NBE to issue 15% savings certificates
By: Islam Fadl Cairo – Mubasher: Banque Misr and the National Bank of Egypt (NBE) will issue savings certificates with a 15% annual yield, the highest in the local market, Banque Misr's chairman Mohamed El-Etreby told Mubasher. These certificates …
Banking and Finance
Each bank injected EGP 1.5 billion into a number of listed companies
19 March 04:23 PM Banque Misr, NBE inject EGP 3bn into Egyptian bourse
By: Islam Fadl Cairo – Mubasher: Banque Misr and the National Bank of Egypt (NBE) purchased stocks worth EGP 3 billion to support the Egyptian Exchange (EGX), the vice chairman of Banque Misr, Akef El-Maghraby, told Mubasher. Each bank injected …
Banking and Finance
Experts call for delaying due payments to the government
17 March 03:02 PM Egypt's tourism sector to incur $1bn monthly losses on flight suspension
By: Mohamed Mowafy Cairo – Mubasher: The Egyptian tourism sector is expected to incur losses of up to $1 billion monthly due to the suspension of all flights, experts said. The government decided to halt all flights from Thursday, 19 March, until …
Macroeconomics
ALCO will review interest rates on all its savings schemes
17 March 11:34 AM NBE lowers interest rate on variable-rate certificates
By: Islam Fadl Cairo – Mubasher: The National Bank of Egypt (NBE) decided to cut interest rates on its variable-rate certificates by 3% following the interest rate reduction, the lender’s vice chairman Yehia Aboul Fotouh told Mubasher. The bank’s …
Banking and Finance
Central Bank of Egypt (CBE)
4 March 06:07 PM Egyptian banks provide EGP 2.8bn to factories – CBE
By: Islam Fadl Cairo – Mubasher: Banks in Egypt have provided EGP 2.8 billion in finances as part of an initiative to support industrial projects, according to deputy governor of the Central Bank of Egypt (CBE) Gamal Negm. The number of …
Central Banks
The auction will be held on 5 March
3 March 04:32 PM Heliopolis Housing offers 6 land plots in New Heliopolis for sale
By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) will offer six vacant plots of land in New Heliopolis for sale in a sealed-bid public auction on Thursday, 5 March. The land plots are dedicated for …
Real estate
An alternative plan will be announced within two months
3 March 03:37 PM HCCD cancels plan to float stake of Heliopolis Housing on EGX
By: Abdullah Bedeir Cairo – Mubasher: Plans to float an additional stake of 25% in Heliopolis Company for Housing and Development (HHD) on the Egyptian Exchange (EGX) have been retracted, chairman of HHD’s parent company, the Holding Company for …
Real estate
The land plots are dedicated for residential purposes
3 March 03:12 PM Heliopolis Housing offers 21 land plots for sale
By: Abdullah Bedeir Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) will offer 21 vacant land plots in Heliopolis for sale, with areas ranging between 537.63 and 1,740.86 square metres.  Located in Sheraton, the land plots …
Real estate
The Egyptian Exchange
29 February 03:47 PM EGX indices record losses in February
Cairo – Mubasher: The Egyptian Exchange (EGX) saw a negative performance during February on the back of the selling activity of Arab investors. The benchmark index (EGX30) declined by 6.54% to close at 13,008 points, while EGX70 EWI lost 5.34% and …
Trading Activities
The Egyptian Exchange
29 February 12:13 PM EGX30 down 5.2% in week
Cairo – Mubasher: The Egyptian Exchange (EGX) ended last week’s trade in decline, as the benchmark index (EGX30) lost 5.19% and closed at 13,008 points. EGX70 EWI fell by 3.73% to 1,209 points, while the broader index EGX100 lost 3.93 and closed …
Trading Activities