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7 minutes ago Spinalex posts 152% higher profits in H1-22/23
Cairo – Mubasher: Alexandria Spinning and Weaving (Spinalex) witnessed a 152% hike in net profit after tax to EGP 13.55 million during the first half (H1) of fiscal year (FY) 2022/2023, versus EGP 5.37 million in H1-21/22. Revenues stood at EGP …
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4 hours ago Egypt’s fintech MNT-Halan secures $400m financing at $1bn valuation
Cairo – Mubasher: Egypt-based fintech and e-commerce ecosystem MNT-Halan has raised $400 million in equity and debt financing from local and global investors, with a valuation of $1 billion. The funding round consists of equity financing worth …
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10:12 AM CBE issues EGP 35bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 35 billion through two tranches on Sunday, 5 February, according to official data. The first issue stood at EGP 13.50 million, holding a …
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2 February 06:15 PM Xpence plans to expand into at least 3 new strategic markets – Interview with CEO Ansari
By: Omnia Ahmed Mubasher: Building a business on solid unit economic is considered important by key players in the market. Meanwhile, startups as well as small- and medium-sized enterprises (SMEs) need access to financial services through a simple …
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2 February 04:37 PM EGX ends Thursday's trading session in red zone
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) closed Thursday’s trading session with a negative performance after the EGX30 main index declined by 0.93% to 16,255.73 points. The EGX50 EWI also plummeted by 1.55% to 2,778.17 points. …
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2 February 03:49 PM Air Arabia Egypt introduces new route to Saudi Arabia
Cairo – Mubasher: Air Arabia Egypt has launched a new destination to Gizan, marking its 11th route in Saudi Arabia. Starting from 9 April 2023, the company will operate two direct flights weekly between Cairo International Airport and King …
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2 February 10:29 AM CBE offers EGP 43.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) worth EGP 43.50 billion through two offerings on Thursday, 2 February. The first issue stood at EGP 20.50 billion and will mature in 182 days on 8 August 2023, …
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1 February 04:38 PM EGX’s indices end Wednesday’s trading session mixed
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) closed Wednesday’s trading session with a varied performance after the EGX30 main retreated by 0.23% to 16,407.79 points. In addition, the EGX50 EWI as well as EGX100 went down by 0.26% …
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1 February 01:02 PM Rolaco EGB Investment ups shareholding in MM Group to over 15%
Cairo – Mubasher: Rolaco EGB Investment raised its 14.87% stake in MM Group for Industry and International Trade to 15.02%, according to a bourse disclosure. The investment firm bought 1.46 million shares in MM Group for EGP 7.45 million, at an …
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1 February 11:17 AM Etisalat Egypt inks EGP 4bn financing deal with CIB
Cairo – Mubasher: Etisalat Egypt by e& and the Commercial International Bank (CIB) penned a financing agreement worth EGP 4 billion to back the telecom firm’s expansion plans, according to a press release. Hazem Metwally, CEO of Etisalat Egypt, …
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31 January 04:33 PM EGX closes Tuesday with negative performance
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended Tuesday’s trading session in the red zone, with the EGX30 main index down 3.41% to 16,446.38 points. The EGX50 EWI also declined by 2.85% to 2,829.21 points. Both small- and …
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31 January 04:18 PM Egypt Aluminum’s profits leap to EGP 1.7bn in H1-22/23
Cairo – Mubasher: Egypt Aluminum posted a hike in net profit after tax to EGP 1.70 billion during the first half (H1) of fiscal year (FY) 2022/2023, compared to EGP 814.15 million in H1-21/22. Earnings per share (EPS) increased to EGP 2.40 in …
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31 January 02:14 PM Sidpec’s profits hit EGP 1.23bn in 2022 unaudited results
Cairo – Mubasher: Sidi Kerir Petrochemicals Company (Sidpec) achieved net profits after tax worth EGP 1.23 billion in 2022, higher by 131.40% year-on-year (YoY) than EGP 535 million. Revenues hiked by 68.64% YoY to EGP 8.65 billion in 2022 from …
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31 January 01:28 PM Delta Insurance’s shareholders nod to capital hike
Cairo – Mubasher: The shareholders of Delta Insurance agreed on 30 January 2023 to raise the company's authorised capital to EGP 800 million from EGP 500 million, according to a bourse filing. The extraordinary general meeting (EGM) also passed …
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31 January 11:16 AM Egypt-US trade exchange rises to $8bn in 10M-22
Cairo – Mubasher: The value of bilateral trade between Egypt and the US amounted to $8 billion in the first 10 months (10M) of 2022, an annual growth of 12.20% from $7.20 billion. The US received Egyptian exports worth $2 billion in 10M-22, down …
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30 January 05:40 PM Remco posts lower standalone losses at EGP 47m in 9M-22
Cairo – Mubasher: The standalone net losses of Remco for Tourism Villages Construction shrank to EGP 47.14 million in the first nine months (9M) of 2022, versus EGP 388.91 million in 9M-21. The non-consolidated loss per share stood at EGP 0.19 in …
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30 January 04:18 PM Egypt closes Monday’s session in red zone
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended Monday’s trading session with a negative performance after the EGX30 main index levelled down by 2.21% to 17,026.64 points. Furthermore, the EGX50 EWI plummeted by 2.46% to …
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30 January 01:22 PM Orascom Development Egypt witnesses highest sales in 2022 unaudited results
Cairo – Mubasher: Orascom Development Egypt (ODE) reported an annual hike of 20.70% in net sales to EGP 11.10 billion in 2022, according to the preliminary unaudited key performance indicators (KPIs). During the fourth quarter (Q4) of 2022, the …
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30 January 12:28 PM Rolaco EGB Investment raises stake in B Investments to 5%
Cairo – Mubasher: Rolaco EGB Investment increased its equity ownership in B Investments Holding to 5.01% from 4.67%, according to a bourse filing. Rolaco EGB Investment purchased 550,000 shares in the EGX-listed firm for EGP 11.27 million, at an …
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30 January 12:13 PM CBE announces EGP 35bn debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth EGP 34 billion through two auctions on Monday, 30 January. Holding a tenor of 91 days until 2 May 2023, the first offering stood at EGP 13 billion, according …
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30 January 11:02 AM Marseilia announces stock split
Cairo - Mubasher: Marseilia Almasreia Alkhalegeya Real Estate Investment will split the share’s nominal value to EGP 0.50 from EGP 1, according to a bourse filing. The issued capital will remain EGP 103.82 million, yet it will be distributed over …
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30 January 09:59 AM Obour Land to pay EGP 380m dividends for 2022
Cairo – Mubasher: The board of Obour Land for Food Industries decided to disburse cash dividends to shareholders worth EGP 380 million for 2022. Eligible shareholders will receive a dividend of EGP 0.95 per share, according to a recent bourse …
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29 January 04:53 PM EGX’s indices close Sunday in green zone
Cairo – Mubasher: The indexes of the Egyptian Exchange (EGX) ended Sunday’s trading session with a collective rise after the EGX30 main index grew by 3.69% to 17,411.46 points. The EGX50 EWI also increased by 2.10% to 2,985.88 points. …
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29 January 03:08 PM Alexandria Container’s profits reach EGP 1.79bn in H1-22/23
Cairo – Mubasher: Alexandria Container and Cargo Handling Company posted a net profit after tax worth EGP 1.79 billion during the first half (H1) of fiscal year (FY) 2022/2023. The H1-22/23 profits were higher by 150.77% year-on-year (YoY) than …
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29 January 02:00 PM Cleopatra Hospitals’ shareholders greenlight capital reduction
Cairo – Mubasher: The shareholders of Cleopatra Hospitals Group (CHG) agreed to reduce the company’s issued capital to EGP 722.71 million from EGP 800 million, according to a bourse disclosure. In order to carry out the cut process, the EGX-listed …