Cairo - Mubasher: GlaxoSmithKline (GSK Egypt) announced that GlaxoSmithKline plc, listed on the London Stock Exchange LSE), will separate its pharmaceuticals and vaccines business from its consumer healthcare business globally and establish two …
Cairo - Mubasher: The board of directors of Remco for Tourism Villages Construction approved the fair value (FV) study prepared by Alpha Capital Financial Advisory for Financial Securities for the stock of Empain Tourism Investments Company. Remco …
Cairo - Mubasher: Six of October Development and Investment (SODIC) announced that its wholly-owned subsidiary SODIC for Securitization closed its first securitisation bond issuance of EGP 343 million backed by a receivables portfolio worth EGP …
Cairo - Mubasher: The board of directors of Raya Contact Center approved the establishment of a wholly-owned subsidiary, which will be based in the US. The board authorised the Chairman and Managing Director to determine the company's capital and …
Cairo - Mubasher: Elsaeed Contracting and Real Estate Investment Company has been awarded two new contracting projects with a combined value of EGP 168.4 million. The contracts include the establishment of a service-administrative building in …
Cairo - Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of four gold exploration deals between the Egyptian Mineral Resources Authority (EMRA) and Canada's Barrick Gold Corporation, the …
Cairo - Mubasher: Contact Financial Holding has closed its second Sukuk issuance worth EGP 2.5 billion by its Sukuk arm, Sarwa Sukuk Company. The Shariah-compliant Mudaraba Sukuk, which has a seven-year tenor, received a high credit rating of A- …
Cairo - Mubasher: La Mancha Holding, owned by the Egyptian billionaire Naguib Sawiris, has created a Luxembourg-based long-term fund primarily focused on gold mining, named La Mancha Fund SCSp. The first closing of the fund, which will be advised …
Cairo - Mubasher: The Egyptian Exchange (EGX) closed Monday's trading session on a varied note amid Arab purchases and local and foreign selloffs. The main EGX30 index retreated by 0.45% to close at 10,697 points, while the small- and mid-cap …
By: Abdullah Bedeir Cairo - Mubasher: Akam Developments plans to invest EGP 1.22 billion in two projects in the New Administrative Capital by the end of 2021. So far, the property developer has achieved EGP 5 billion in sales from its projects …
Cairo - Mubasher: The International Monetary Fund (IMF) expects Egypt's economy to grow by 5.2% during fiscal year (FY) 2021/2022, compared to a projected growth rate of 2.8% in FY20/21. As for FY22/23, the country's real gross domestic product …
Cairo - Mubasher: Egypt's furniture exports increased by 38% year-on-year (YoY) to $131.742 million in the first half (H1) of 2021, compared to $95.309 million, the Middle East News Agency (MENA) cited a report by the Egyptian Furniture Export …
Cairo - Mubasher: Egypt achieved a primary surplus of EGP 93.1 billion during fiscal year (FY) 2020/2021, making up 1.4% of the country's gross domestic product (GDP). The country's overall budget deficit narrowed to 7.4% of GDP in FY20/21, …
Cairo – Mubasher: Egypt’s exports of crude iron and steel surged by 179% to $584 million during the first five months of 2021 from $209 million in the same period last year. The Arab republic has exported iron and steel to about 70 countries …
By: Heba El-Kordy Cairo - Mubasher: Egypt's inflation rate is expected to rise slightly in July following the recent increases in fuel, electricity, and tobacco prices. On 23 July, the country's Fuel Automatic Pricing Committee increased the …
Cairo – Mubasher: Egypt's cement exports jumped by 181% year-on-year (YoY) to $135 million during the first five months of 2021, compared to $48 million in the year-ago period. A total of 67 countries received Egypt's cement exports during the …
Cairo – Mubasher: The board of directors of the National Project for Veal Revival has approved a new allocation of EGP 323 million for 2,350 young breeders to buy and feed about 22,000 cattle. This raises the total value of funding allocated to …
Cairo - Mubasher: Nawy, a Cairo-based PropTech startup, has secured an oversubscribed seven-figure seed round led by the Sawiris family office. Several angel investors have also participated in the investment round, including Hatem Dowidar, a …
Cairo – Mubasher: The board of directors of the Egyptian Financial Regulatory Authority (FRA) approved the draft amendments to some provisions of the mortgage finance law no. 148 of 2001. These amendments are aimed at addressing some challenges …
Cairo - Mubasher: The Egyptian Exchange (EGX) revealed the details of the mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt. The Bahraini bank …
Cairo – Mubasher: Egypt’s food exports grew by 13% year-on-year (YoY) to $2.052 billion in the first half (H1) of 2021, compared to $1.820 billion, according to data released by the Food Export Council on Monday. Over the course of the …
Cairo – Mubasher: The board of directors of the International Company for Medical Industries (ICMI) approved the appointment of SOLID Capital For Financial Advisory as an independent financial advisor to assess the fair value (FV) of the company's …
