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17 April 10:36 AM

Egypt news

The market cap value grew by EGP 412.3 million
15 April 04:01 PM EGX ends Thursday mixed
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session on a varied note. The main EGX30 index rose by 0.27% to 10,143 points, while the small- and mid-cap EGX70 EWI fell by 0.68% to 1,820 points. Meanwhile, the EGX100 EWI …
Trading Activities
Minister of Supply and Internal Trade, Ali El-Moselhy
15 April 03:51 PM Egypt's strategic reserve of key commodities enough for four months
Cairo – Mubasher: The Egyptian Minister of Supply and Internal Trade, Ali El-Moselhy, announced that the country’s strategic reserve of key commodities is sufficient for four to six months, the Middle East News Agency (MENA) reported on Thursday. …
Macroeconomics
15 April 03:36 PM CNG car sales in India up on rising fuel prices
Global Reports
The transaction included the purchase of 6.15 million shares
15 April 02:58 PM Asmak ups stake in Porto Group Holding
Cairo – Mubasher: Asmak Co raised its stake in Porto Group Holding to 12.04% from 11.51%, HC Brokerage said. The transaction included the purchase of 6.15 million shares for EGP 4.246 million, averaging EGP 0.69 apiece, according to a bourse …
Insider Trading & Treasury Stocks
The revenues reached EGP 758.82 million in six months
15 April 02:21 PM CIRA logs EGP 246m profit in six months
Cairo – Mubasher: The consolidated net profits of Cairo for Investment and Real Estate Development (CIRA) rose by 9.97% year-on-year (YoY) to EGP 246.05 million in the six-month period ended 28 February, compared to EGP 223.734 million, including …
Financial Results
15 April 01:44 PM Eastern Europe’s construction industry likely to grow 3.6% in 2021
Global Economy
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
Macroeconomics
15 April 01:14 PM Dell to get up to $9.7bn following VMWare stake spinoff
Mubasher: Dell Technologies Inc plans to spin off its 81% equity ownership in cloud computing and virtualization software firm VMware.
Global Reports
The agreement was signed on 13 August 2020
15 April 12:25 PM El-Sisi approves EUR 1.88bn loan for monorail lines
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi issued decree no. 642 of 2020 for the approval of a EUR 1.88 billion loan agreement to finance the construction of two monorail lines, the Middle East News Agency (MENA) reported on …
Macroeconomics
The Aldar-led alliance offered to acquire at least 51% of SODIC
15 April 12:03 PM SODIC hires financial advisors to study acquisition offer by Aldar Properties
Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) approved the appointment of EFG Hermes and an international investment bank as financial advisors to study the preliminary acquisition offer submitted by …
Real estate
The transaction involved the sale of 8.21 million shares
15 April 11:35 AM Al Ahly Capital trims stake in AMOC for EGP 24m
Cairo – Mubasher: Al Ahly Capital Holding Company reduced its stake in Alexandria Mineral Oils Co (AMOC) to 23.82% from 24.46%. The transaction involved the sale of 8.21 million shares at a value of EGP 23.78 million, averaging EGP 2.89 per share, …
Insider Trading & Treasury Stocks
The operating revenues increased to EGP 317.1 million
15 April 10:58 AM Taaleem's profit grows 18% in six months
Cairo – Mubasher: Taaleem Management Services reported EGP 128.61 million in net profits attributable to the parent company’s shareholders during the six-month period ended 28 February, up by 18% year-on-year (YoY) from EGP 108.96 million. The …
Financial Results
The issuance will be used to finance the country’s budget deficit
15 April 10:38 AM CBE offers EGP 17.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 17.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP …
Macroeconomics
The bank will announce the potential bidders' final list
15 April 09:36 AM ADCB receives offers for 51% stake in Alexandria Medical Services
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has received preliminary non-binding offers from potential investors to acquire the bank's 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center in Egypt. The bank and …
Banking and Finance
The market cap value plunged by EGP 14 billion
14 April 03:52 PM EGX30 ends Wednesday at lowest level since May 2020
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session in the red territory, pressured by foreign selloffs. The main EGX30 fell by 1.85% to end at 10,115 points, its lowest level since May 2020 as the heavyweight …
Trading Activities
The imported goods included wheat, sugar, legumes, and maize
14 April 03:35 PM Dekheila, Damietta ports collect EGP 2.7bn taxes, customs in March
Cairo – Mubasher: The total value of taxes, customs duties, and other charges collected at Dekheila and Damietta ports reached EGP 2.71 billion during March. The two ports collected EGP 451.94 million in taxes and customs duties for imported goods …
Macroeconomics
The company will build a 23-feddan project featuring 1,000 residential units
14 April 03:12 PM New Generation Group eyes EGP 5bn investments in New Administrative Capital
By: Abdullah Bedeir Cairo – Mubasher: New Generation Group plans to invest EGP 5 billion in real estate projects in the New Administrative Capital over the coming five years, the company’s Chairman, Assem Fadel, said. The company signed a contract …
Companies Investments
The UNDP Egypt Accelerator Lab is part of a global network of 91 accelerators
14 April 02:41 PM UNDP launches accelerator lab in Egypt
Cairo – Mubasher: With less than 10 years left to achieve the UN sustainable development goals (SDGs), the world is set on reimagining development, tapping into collective intelligence, to pave the way for the green, resilient, and inclusive …
Macroeconomics
By 12:45 p.m., the heavyweight stock declined by 2.06%.
14 April 02:18 PM CIB's stock slides to lowest level since November 2016
By: Heba El-Kordy Cairo – Mubasher: The Commercial International Bank-Egypt’s (CIB) stock continued its downward trend, sliding to its lowest level since November 2016.  By 12:45 p.m., the heavyweight stock declined by 2.06% to EGP 52.9 after …
Trading Activities
The decision will be in effect for three years starting from mid-April
14 April 01:56 PM Egypt Aluminum reveals impact of anti-dumping aluminium tariffs
Cairo – Mubasher: Egypt Aluminum said that the Ministry of Trade and Industry’s decision to impose anti-dumping duty on aluminium imports will have a positive impact on the company’s results and local sales. The decision, which will be in effect …
Macroeconomics
EFG Hermes will own 51% of the bank
14 April 01:31 PM aiBANK's FV estimated at EGP 1.1bn ahead of acquisition deal
Cairo – Mubasher: The board of directors of the Egyptian Financial Group Hermes Holding (EFG Hermes) approved an acquisition deal in partnership with the Sovereign Fund of Egypt to purchase 76% of the Arab Investment Bank (aiBANK). The acquisition …
Banking and Finance
Photo Archive
14 April 12:54 PM Telecom Egypt, Sudatel ink MoU to enhance international connectivity
Cairo – Mubasher: Telecom Egypt and Sudatel Telecom Group (STG) signed a memorandum of understanding (MoU) to enhance cooperation in international connectivity between Egypt and Sudan. The MoU aims to develop and make the best use of the network …
Corporate Actions
The company will also distribute EGP 57.6 million worth of bonus shares
14 April 12:08 PM MNHD announces dividend payments to shareholders
Cairo – Mubasher: The ordinary general meeting (OGM) of Madinet Nasr Housing and Development (MNHD) approved distributing cash dividends in instalments for the year ended 31 December 2020. A cash dividend of EGP 648 million or EGP 0.45 per share …
Cash Dividends
The project has a planned annual capacity of 100,000 tonnes
14 April 11:29 AM Egypt to build $100m bioethanol project in Damietta
Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced the construction of a new bioethanol project at Damietta Port with an investment cost of $100 million. The project has a planned annual capacity …
Macroeconomics
The company’s issued and paid-up capital will be increased by $25.61 million
14 April 11:12 AM EGX approves listing Egypt Kuwait Holding’s capital raise shares
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of Egypt Kuwait Holding’s (EKH) capital raise shares. The company’s issued and paid-up capital will be increased by $25.61 million to $281.72 million from …
Corporate Actions