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2 hours ago Arabica coffee prices hit highest level in seven years
2 hours ago UK retail sales grow at softer pace in July
UK retail sales recorded a slight growth slowdown in July after hitting an almost three-year high in June.
A new company focused on consumer health products will be established
4 hours ago GSK Egypt to spin off consumer healthcare business
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 …
Empain Tourism Investments Company's FV has been estimated at EGP 76 a share
5 hours ago Remco approves FV study for Empain's stock
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 …
The issuance includes two tranches with tenors of 13 and 36 months
12:01 PM SODIC closes first securitisation bond issuance worth EGP 343m
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 …
The company will be wholly-owned by Raya Contact Center
11:44 AM Raya Contact Center to set up new subsidiary in US
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 …
The contracts include the establishment of two service-administrative buildings
11:33 AM Elsaeed Contracting awarded EGP 168.4m contracts
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 …
Barrick Gold Corporation will explore for gold in 19 new blocks in the Eastern Desert
11:05 AM Barrick Gold inks four gold exploration deals in Egypt's Eastern Desert
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 …
This brings Contact's total Sukuk issuances to EGP 5 billion
10:47 AM Contact Financial Holding closes second Sukuk issuance worth EGP 2.5bn
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- …
Naguib Sawiris, Chairman of La Mancha
26 July 05:58 PM Sawiris-owned La Mancha launches $1.4bn gold mining fund
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 …
The market cap value declined by EGP 1.4 billion
26 July 05:26 PM EGX ends Monday mixed
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 …
Akam has achieved EGP 5 billion in sales from its projects in the new capital
26 July 05:18 PM Akam Developments plans EGP 1.22bn investments in new capital in 2021
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 …
Foreign direct investment (FDI) is forecast to rise to $8.6 billion in FY21/22
26 July 04:54 PM Egypt's GDP growth seen at 5.2% in FY21/22 - IMF
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 …
Saudi Arabia was the largest importer of Egypt's furniture products
26 July 04:08 PM Egypt's furniture exports hit $131.7m in H1-21
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 …
Ministry of Finance
26 July 03:54 PM Egypt records EGP 93.1bn primary surplus in FY20/21
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, …
Spain has topped the countries importing pig iron and steel from Egypt
26 July 03:42 PM Egypt’s iron, steel exports leap 179% in five months
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 …
The monthly urban inflation rate is expected to reach 1.2% in July
26 July 03:07 PM Egypt's inflation likely to pick up in July on fuel, electricity price increases
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 …
Libya topped Egypt's cement export market destinations
26 July 01:40 PM Egypt's cement exports surge 181% YoY in five months
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 …
26 July 01:19 PM Bitcoin hits highest level since May
The funding was used for feeding nearly 331,000 cattle
26 July 01:17 PM Egypt finances veal project with EGP 4.9bn
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 …
Several angel investors have also participated in the investment round
26 July 12:56 PM Egyptian PropTech startup secures seven-figure seed round
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 …
Mortgage funding grew to EGP 3.4 billion in 2020
26 July 12:43 PM Egypt's FRA approves amendments to mortgage finance law
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 …
The Bahraini bank offered to acquire Blom Bank Egypt for EGP 22.33 per share
26 July 11:43 AM EGX reveals details of Bank ABC's MTO for Blom Bank Egypt
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 …
Saudi Arabia was the largest importer of Egypt's food products
26 July 11:28 AM Egypt’s food exports rise 13% in H1-21
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 …
The study will be presented to shareholders before the capital raise subscription period
26 July 10:59 AM ICMI hires SOLID Capital to conduct FV study
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 …