Egypt news

UAE – Mubasher: Fintech Mamo has raised a $3.40 million funding round, provided by existing investor 4DX Ventures and the Dubai Future District Fund, along with Cyfr Capital. The startup will use the funding to help SMEs businesses consolidate …

Cairo – Mubasher: The Egyptian Fuel Automatic Pricing Committee has increased gasoline prices by up to EGP 1.50 per litre for different octanes, according to Akhbarelyom news website. The price of 92- and 80-octane gasoline increased by EGP 1.25 …

Cairo – Mubasher: The National Bank of Egypt (NBE) increased its stake in the Export Development Bank of Egypt (EBank) and three other companies, according to bourse disclosures. Through its NBE DIFC, NBE purchased 950,000 shares in the EGX-listed …

Cairo – Mubasher: The Egyptian Exchange (EGX) showed a mixed performance on Wednesday after the EGX30 main index fell by 0.36% to 29,090.57 points. Meanwhile, the EGX70 EWI closed the session higher by 0.20% at 6,694.64 points. The EGX100 EWI went …

Cairo – Mubasher: Egypt has launched a new tender to import five shipments of liquefied gas next August and September, as part of its efforts to end the electricity outage crisis in the Arab Republic. A government official, who spoke to Asharq …

UAE – Mubasher: Dragon Oil Company has inaugurated the AI Retreat to study the development of the Morgan and Badri fields using AI technology in Egypt, according to Emirates News Agency (WAM). The project aims to boost productivity and extend the …

Cairo – Mubasher: Banknbox, a leading digital banking and payment services platform in Egypt, has signed a strategic cooperation agreement with CSC Jordan, according to a press release. The partnership aims to drive financial inclusion and secure …

Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouly convened a meeting with key officials and executives to discuss a proposal from a leading global alliance for managing the Cairo International Financial Center (CIFC) in the New …

Riyadh – Mubasher: Middle East LPG Expo - Saudi Arabia 2024 is set to take place during 10-11 September 2024, according to a press release. LPG Expo, a leading exhibition and conference organiser in the liquefied petroleum gas (LPG) industry, …

Cairo – Mubasher: JD Holding, a joint-venture (JV) between Jebal Real Estate Development and Abu Dhabi National Investment Company, has signed a strategic partnership agreement with several Emirati businessmen, in collaboration with FAB Group and …

Cairo – Mubasher: The Egyptian Exchange (EGX) showed a positive performance on Tuesday after the EGX30 main index went up by 0.70% to 29,195.24 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI indices closed the session higher by …

Cairo – Mubasher: Egyptian furniture marketplace Kemitt has announced its expansion into the Saudi Arabia on the heels of a recent undisclosed funding round. The fresh injection of capital will fuel Kemitt's expansion plans by enhancing the …

Cairo – Mubasher: Marriott International and Reliance Ventures, the hospitality investment arm of Reliance Egypt, have signed an agreement to open a Moxy Hotel in Downtown Cairo. Scheduled to open in 2029, Moxy Cairo Downtown will introduce the …

Cairo – Mubasher: Madinet Masr Housing and Development and Midar for Investment and Urban Development penned a partnership agreement for an integrated residential urban project in phase four of Mostakbal City. The total expected revenue for the …

Cairo – Mubasher: The Financial Regulatory Authority (FRA) has approved MENA Glass Holdings Limited's offer to acquire a 40.76% stake, equivalent to 25.52 million shares, in Middle East Glass Manufacturing Company (MEGM). The offer set the price …

Riyadh – Mubasher: Flynas has launched direct flights from its main base in Madinah to Bahrain and Doha as of September 10, according to a press release. Bahrain and Doha join the network of global destinations operated by flynas from Medina, …

Cairo – Mubasher: Egypt witnessed an 8.43% drop ($14.17 billion) in its external debt to $153.86 billion at the end of May 2024, compared to $168.03 billion as of 31 December 2023. A high-ranking official at the Central Bank of Egypt (CBE) …

Cairo – Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session in the green zone with the EGX30 main index up 0.73% to 28,992.34 points. Both small- and mid-cap EGX70 EWI as well as EGX100 EWI indices closed the session higher by …

Riyadh – Mubasher: OTO, MENA’s leading shipping gateway and logistics platform, secures SAR 30 million ($8 million) in a Series A funding round led by Sanabil Investments, a wholly-owned company by the Saudi Public Investment Fund (PIF). The …

Riyadh – Mubasher: The Saudi Ministry of Industry and Mineral Resources has initiated its most extensive mineralised belts to date that cover an expansive 4,788 square kilometres over five exploration licences, according to a press release. The …

Cairo – Mubasher: Obour Land for Food Industries posted year-on-year (YoY) higher consolidated net profits at EGP 422.91 million in the first half (H1) of 2024, versus EGP 212.08 million, according to the financial statements. Basic and diluted …

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced treasury bonds (T-bonds) at a combined value of EGP 8 billion through two issues on Monday, 22 July 2024. The first auction was valued at EGP 3 billion, carrying a maturity period of two …

Cairo – Mubasher: The consolidated net profits of Commercial International Bank-Egypt (CIB) increased to EGP 27.54 billion in the first half (H1) of 2024 from EGP 14.05 billion in H1-23. Net interest income amounted to EGP 41.53 billion as of 30 …