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The new 787 airplanes will be powered by engines manufactured by GE Aviation
25 February 06:04 PM Japan’s ANA orders up to 20 Boeing 787 Dreamliner aircraft
Mubasher: The Japanese airline group ANA HOLDINGS decided to order up to 20 additional Boeing 787 Dreamliner aircraft. The deal includes 11 787-10 jets, one 787-9 and options for five 787-9 airplanes valued at above $5 billion at list prices, …
The number of beneficiaries grew by 11.8% to 3.5 million customers
25 February 05:58 PM Egypt’s microfinance balances jump to EGP 26.1bn in 2019
Cairo – Mubasher: The value of microfinance balances in Egypt rose by 47% year-on-year during 2019, head of the Egyptian Microfinance Federation, Mona Zulficar, revealed. Total microfinance amounted to EGP 26.1 billion last year from EGP 17.7 …
Côte d’Ivoire registered an 8% GDP growth rate in 2019
25 February 05:55 PM Drogba backs Côte d’Ivoire by raising $15bn commitments for tourism
Mubasher: Didier Drogba, the international football star, has helped in collecting a total of $15 billion memoranda of understanding (MoUs), in a move to boost developments of the tourism sector in his birthplace, Côte d’Ivoire. The West African …
25 February 05:28 PM Thomson Reuters appoints former Nielsen’s president as CEO
Mubasher: Thomson Reuters Corporation has named former Nielsen Holdings’ president Steve Hasker as the new CEO following Jim Smith, Reuters reported on Tuesday.
Total proposed dividends amount to EGP 35.549 million
25 February 05:23 PM Delta Sugar proposes EGP 0.25/shr dividend for 2019
Cairo – Mubasher: The board of directors of Delta Sugar recommended a cash dividend distribution of EGP 0.25 per share for 2019. Total proposed dividends amount to EGP 35.549 million, the company said in a statement to the Egyptian Exchange (EGX) …
The UAE will receive around 3m international visitors during Expo 2020
25 February 05:12 PM Expo 2020 to attract additional 1.4m visitors from 5 key markets
UAE – Mubasher: Additional 1.4 million visitors from five key markets, namely India, Saudi Arabia, Philippines, the UK, and Pakistan, will arrive to the UAE during Expo 2020 Dubai. At the event, set to welcome 25 million visitors during the period …
The state-run bank will contribute 75% to the project’s investment cost
25 February 05:00 PM NBE inks deal to finance Mena House renovation with EGP 435m
Cairo – Mubasher: The National Bank of Egypt (NBE) signed a long-term funding contract worth EGP 435 million with the Egyptian General Company for Tourism and Hotels (EGOTH) to finance the renovation of Mena House Hotel. The state-run bank will …
Revenues plunged to EGP 704.83 million
25 February 04:34 PM Incolease’s profit drops 13% in 2019; dividends proposed
Cairo – Mubasher: The International Company for Leasing (Incolease) reported a 13.4% year-on-year decrease in its net profits during 2019. The company’s net profits fell to EGP 92.67 million last year from EGP 107.07 million in 2018, according to …
The UAE has suspended all flights arriving to and coming from Iran
25 February 04:33 PM UAE halts all flights to, from Iran over coronavirus fear
UAE – Mubasher: The UAE's General Civil Aviation Authority (GCAA) has suspended all flights arriving to and coming from Iran over the new coronavirus fear, according to the Emirates News Agency (WAM). The suspension of all passenger and cargo …
The cost of revenues hiked to EGP 223.2 million
25 February 04:15 PM Delta Construction's profit slides 61% in 2019
Cairo – Mubasher: Delta for Construction and Rebuilding reported a 61% year-on-year slide in its net profits during 2019, dragged by higher cost of revenues.  Net profits dropped to EGP 3.47 million last year from EGP 8.99 million in 2018, the …
The company incurred net losses of EGP 1.2 million
25 February 03:35 PM Odin Investments swings to loss in 2019 on lower revenue
Cairo – Mubasher: Odin Investments announced turning to losses during 2019 due to lower revenues, the company’s consolidated financial statements showed. The company incurred net losses of EGP 1.2 million last year from EGP 2.05 million in 2018, …
The three new cases arrived from Iran
25 February 03:33 PM Kuwait’s health ministry confirms 8 coronavirus cases
Mubasher: Kuwait’s Ministry of Health announced that three Kuwaiti nationals had tested positive for the new coronavirus (COVID-19) epidemic, bringing the total infected cases to eight in the country until the moment. The three new cases arrived …
Sales retreated to EGP 8.14 billion
25 February 03:22 PM Mopco’s profit shrinks 48% in 2019 unaudited consolidated financials
Cairo – Mubasher: The unaudited consolidated financial results of Misr Fertilizers Production Co (Mopco) reported a 48.2% year-on-year profit decline during 2019. Net profits slid to EGP 1.645 billion last year from EGP 3.17 billion in 2018, the …
Mubarak ruled Egypt for almost 30 years
25 February 02:42 PM Egypt’s ex-President Hosni Mubarak passes away
Cairo – Mubasher: The Egyptian former President Hosni Mubarak passed away at the age of nearly 92 on Tuesday, state-run TV reported.  In January, Mubarak underwent a surgery and was said to be in a stable condition, according to his son Alaa.
Investors will be given the opportunity to bid on 320 blocks
25 February 02:15 PM Egypt to launch gold exploration tender mid-March
Cairo – Mubasher: Egypt will launch an international exploration tender for gold and other minerals such as copper and silver from 15 March to 15 July, the minister of petroleum Tarek El-Molla revealed. Investors will be given the opportunity to …
Global prices retreated by around 4% on Monday
25 February 01:55 PM Kuwait’s crude oil slid to $56.75 pb on Monday – KPC
Mubasher: The price of Kuwait’s crude oil declined by $1.84 on Monday, 24 February, to reach $56.75 per barrel (pb) as compared to KWD 58.59 pb last Friday, according to the official prices by Kuwait Petroleum Corporation (KPC). On the global …
Egypt's imports fell by 6.2% to $6.04 billion
25 February 01:43 PM Egypt’s trade balance deficit narrows 10.8% in December 2019
Cairo – Mubasher: Egypt’s trade balance deficit shrank by 10.8% year-on-year to $3.45 billion in December 2019, compared to $3.87 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Tuesday. Exports …
Private investments grew to EGP 444 billion
25 February 01:07 PM EGP’s GDP expands to EGP 5.3trn in FY18/19
Cairo – Mubasher: Egypt’s gross domestic product (GDP) at current prices reached EGP 5.3 trillion in fiscal year 2018/2019, rising by 20% from FY17/18, the minister of planning and economic development Hala El-Saeed said. Investment spending …
Net sales surged by 20% to EGP 14.9 billion
25 February 12:20 PM Palm Hills reports EGP 906m profit in 2019
Cairo – Mubasher: The consolidated financial statements of Palm Hills Developments reported net profits of EGP 906.22 million in 2019, slightly down from EGP 906.86 million a year earlier, including minority shareholders’ rights. In the meantime, …
Bahrain's residents should adhere to health guidelines to combat the novel virus
25 February 12:00 PM Bahrain suspends flights from Dubai, Sharjah for 48 hrs over coronavirus
Mubasher: Bahrain’s The Civil Aviation Affairs (CAA) has suspended all flights to and from the Dubai International Airport (DXB) and Sharjah International Airport for 48 hours starting early hours of 25 February 2020. The CAA is collaborating with …
Total South Korean investments in Egypt reached $570 million
25 February 11:51 AM Egypt, S.Korea bilateral trade hits $1.59bn in 2019
Cairo – Mubasher: Trade exchange between Egypt and South Korea amounted to $1.595 billion in 2019, the Egyptian minister of trade and industry Nevine Gamea said. Bilateral trade between the two countries included electronics, engineering products, …
Revenues grew to EGP 3.411 billion inn 2019
25 February 11:34 AM EIPICO logs EGP 671m profit in 2019 unaudited financials
Cairo – Mubasher: The unaudited consolidated results of the Egyptian International Pharmaceutical Industries (EIPICO) reported a 4% year-on-year profit decline during 2019. Net profits went down to EGP 671.4 million last year from EGP 701.3 …
The MBF group will build six cities in Egypt
25 February 10:40 AM MBF Group mulls to inject EGP 300bn investments in Egypt
UAE – Mubasher: Emirati MBF Group Holdings and Establishments currently considers injecting EGP 300 billion investments in Egypt by building six investment cities in Suez Canal axis, according to the Emirates News Agency (WAM). The chairman of …
The decision came during the cabinet’s weekly meeting on Monday
25 February 10:34 AM Kuwait cancels celebrations of National, Liberation days on coronavirus fears
Mubasher: The Kuwaiti cabinet has cancelled all celebrations scheduled for the National and Liberation Day holidays until further notice. The cabinet called upon all citizens to consider the efforts and steps the government is taking to contain …
Exports of food industries grew to $279 million
25 February 10:25 AM Egypt’s non-oil exports up 4% YoY in January
Cairo – Mubasher: Egypt’s non-oil exports rose by $85 million or 4% year-on-year (YoY) during January, according to data released by the General Organization of Export and Import Control (GOEIC). The North African nation’s non-oil exports amounted …