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20 April 12:00 PM

Egypt news

20 minutes ago Oil prices near stable at 3-yr highs
Oil prices fell on Friday but remained at three-year highs ahead of US oil rig data
Oil and Energy
19 April 09:48 PM Watch Sophia answers Mubasher’s questions
Sophia was the first robot with an earthly citizenship, after being granted the Saudi citizenship not so long agoxasdas
Global Reports
19 April 08:44 PM UK to ban plastic straws, cotton buds
UK revealed on Thursday plans to impose a ban on the sale of plastic straws and drink stirrers and plastic-stemmed cotton buds
Global Reports
The Egyptian Exchange
19 April 07:55 PM EGX30 up 1% in week
Cairo - Mubasher: The Egyptian Exchange (EGX) saw a positive performance this week, despite the rising geopolitical tensions across the region. The benchmark index (EGX30) rose by 0.94%, or 165.33 points, and closed at the level of 17,781.02 …
Trading Activities
19 April 07:52 PM Oil-price surge may prompt next crisis -Analyst
The recent rise in oil prices could speed up a crisis in the energy market, according to an oil economist.
Oil and Energy
19 April 07:20 PM Miguel Diaz-Canel elected as new president of Cuba
Miguel Diaz-Canel has been sworn in as the new president of Cuba, after former leader Raul Castro decided to retire
Global Reports
19 April 06:11 PM US natural gas storage fall in week
US natural gas stockpiles declined last week, according to EIA
Global Reports
19 April 05:56 PM ‘Full-on global meltdown’ in stocks seen ‘too early’ -Goldman Sachs
A Goldman Sachs Asset Management top official has said that there should be no fears of a "global meltdown in equities"
Global Indices
19 April 05:25 PM Nestle sales rise 1.4% in Q1-18
Nestle has reported a growth in sales during the first quarter of 2018
Global Reports
19 April 05:07 PM Analyst warns of ‘violent’ oil sell-off as Saudi eyes $100/barrel
Analysts do not expect the recent rise in oil prices to continue towards Saudi Arabia's desired $100 per barrel
Global Reports
The pressure on oil prices forced the economies to look at diversification
19 April 04:24 PM IHG Global mulls expansion in Middle East – CEO
Mubasher: Intercontinental Hotels Group Global (IHG Global) has plans to grow its business across the Middle East, the CEO of IHG Global, Keith Barr, said. The CEO has discussed the hotel group's plan to expand in the Middle East in an exclusive …
Companies Investments
EGX30 index edged up 75.15 points, or 0.42%, finishing the session at 17,781 points
19 April 04:07 PM EGX ends Thursday in green; market cap gains EGP 3.9bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session up on the back of Arab buying. The benchmark EGX30 index edged up 75.15 points, or 0.42%, finishing the session at 17,781 points. Market capitalisation gained EGP 3.9 …
Trading Activities
19 April 03:53 PM US jobless claims fall in week ended 14 April
Unemployment claims in the US fell in the week ended 14 April by 1,000 claims
Global Markets brief
Total investments of the EU in Egypt have exceeded $15bn through 6,339 firms
19 April 03:21 PM EU investments in Egypt hit $15bn
Cairo – Mubasher: Total investments of the European Union (EU) countries in Egypt have exceeded $15 billion through 6,339 firms. These investments are mainly focused in the sectors of industry, services, and tourism, in addition to providing more …
Macroeconomics
19 April 03:12 PM Eurozone current account surplus falls in February​​​​​​​
The Eurozone’s current account surplus recorded a decline in February from the prior month.
Global Markets brief
Domty has been able to achieve a better-than-expected profit margin in Q1-18
19 April 03:04 PM Pharos Research upgrades Domty PT to EGP13.18/shr, maintains ‘Overweight’
Cairo – Mubasher: Pharos Research has raised their target price (TP) for Arabian Food Industries Co (Domty) to EGP 13.18, maintaining ‘Overweight’. Domty has been able to achieve a better-than-expected profit margin in the first quarter of 2018, …
Stock Evaluations
The factory is expected to be built with a production capacity of 1.8m cell phones a yr
19 April 02:42 PM Dubai's IKU to build mobile phones factory in Egypt
Cairo – Mubasher: Dubai-based IKU plans to establish a new factory in Egypt to assemble mobile phones. The Emirati mobile phones manufacturer has allocated an estimated $17 million in investments for the first phase of the project, local newspaper …
Companies Investments
The remaining capital hike proceeds amounted to EGP 145.93m out of total EGP 992.93m
19 April 02:17 PM SODIC uses EGP 847m of capital hike proceeds end-March
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has used EGP 847 million from capital increase proceeds at the end of March 2018. The company has pumped EGP 400 million in 301-acre project at the end of December, the …
Companies Investments
19 April 02:07 PM Amazon Prime has over 100m members – Bezos
Jeff Bezos revealed that Amazon Prime subscribers have exceeded 100 million
Global Markets brief
EBE aims to develop the credit rating systems
19 April 01:52 PM EBE partners with US S&P to apply IFRS9
Cairo – Mubasher: Export Development Bank of Egypt (EBE) has started a joint programme with Standard & Poor's Financial Services and Bluering company regarding applying the International Financial Reporting Standard 9 (IFRS9). Upon this step, the …
Corporate Actions
19 April 01:38 PM Global pharmaceuticals sector seen “Stable” – Moody’s
The global pharmaceutical industry is expected to register a growth of 1%-2% in earnings in the coming 12 to 18 months, Moody's says
Global Reports
19 April 01:07 PM UK retail sales fall 0.5% in Q1
Retail sales in the UK decreased in the first quarter of 2018
Global Reports
19 April 12:47 PM Opel may cut 800 jobs in Germany – DPA
Carmaker Opel is reportedly planning to cut up to 800 jobs in Germany
Global Markets brief
In March, the EGM had approved splitting stock by 1:3 ratio to become EGP 5
19 April 12:28 PM Eastern Co OKs EGP 750m capital hike
Cairo – Mubasher: The board of Eastern Co has approved to raise the company’s capital to EGP 2.25 billion, instead of EGP 1.5 billion through reserves. The top cigarette maker will finance the EGP 750 million increase through EGP 500 million from …
Corporate Actions
The adjusted appendix will ease the registration of the units
19 April 12:16 PM Porto Group’s arm inks amendments of Porto Dead Sea development deal
Cairo – Mubasher: Porto Dead Sea Co, a subsidiary of Porto Group Holding, has signed an adjusted appendix for the signed agreement with Jordan Free and Development Zones Group. As per the agreement, plots of land witnessing the construction work …
Companies Investments