By: Heba El-Kordy Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session in the green territory on the back of local purchases. The benchmark EGX30 index advanced by 1.89% to end at 10,621, hitting its highest closing …
Cairo – Mubasher: The Egyptian cabinet said that Fitch Ratings expects the construction and building sector in the most populous Arab nation to continue its robust growth over the next decade. Between 2020 and 2024, the construction sector is …
Mubasher: Kuwait's exports of crude oil and basic petroleum products declined by 20.31% year-on-year (YoY) to KWD 3.61 billion ($11.74 billion) during the first quarter (Q1) of 2020, compared to KWD 4.53 billion ($14.74 billion) in the year-ago …
Cairo – Mubasher: Dice Sport and Casual Wear witnessed a block-trading transaction worth EGP 18.4 million on the Egyptian Exchange (EGX). The deal involved the trading of 11.52 million shares, the Egyptian bourse said in a statement on Thursday. …
Cairo – Mubasher: Egypt’s non-oil imports shrank by 21.1% to $18.81 billion in the first four months of 2020, compared to $23.86 billion in the year-ago period, according to data by the Central Agency for Public Mobilization and Statistics …
Cairo – Mubasher: Housing and Development Bank (HDB) announced the closure of its branch in Zamalek after an employee tested positive for coronavirus (COVID-19), HDB’s chairman Hassan Ghanem said. The branch will be closed for four days in order …
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued a presidential decree, greenlighting a second Kuwaiti loan to finance the construction of the Tunnel-Sharm El-Sheikh Road project, the Middle East News Agency (MENA) reported on …
Cairo – Mubasher: The Egyptian government implemented investments worth EGP 113 billion during the first nine months of fiscal year 2019/2020, posting a 23% increase, according to report released by the Ministry of Planning and Economic …
Cairo – Mubasher: Saudi Arabia has so far financed a total of 2,176 projects in 27 Egyptian governorates through a grant of $200 million, the Egyptian minister of international cooperation Rania Al-Mashat said. These projects have contributed to …
Cairo – Mubasher: Egypt witnessed growth rates in several economic sectors during the third quarter of fiscal year 2019/2020 amid the coronavirus (COVID-19) outbreak, led by the oil refining sector which advanced by 78%. Over the January-March …
Cairo – Mubasher: Orascom Development Egypt (ODE) signed its third school development agreement with Nermien Ismail Schools (NIS), continuing to deliver on its accelerated land bank monetisation strategy and securing EGP 535 million worth of cash …
Mubasher: PAYFORT, an Amazon company, has introduced an initiative to support startups and small- and medium-sized enterprises (SMEs) in Saudi Arabia, the UAE, and Egypt. Through the #StartUpStayUp initiative, PAYFORT will help over 100 of …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 14 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 7 …
Cairo – Mubasher: The startup accelerator RiseUp called on Egyptian startups to submit applications to the second edition of the “Africa’s Business Heroes” (ABH) prize competition, organised by Jack Ma Foundation, with a prize pool of $1.5 …
Cairo – Mubasher: Upper Egypt Electricity Production Company (UEEPC) has completed the expansion and replacement works of electricity distribution networks in Aswan from 1 July 2019 until the end of last April at a cost of EGP 500 million. This is …
Cairo – Mubasher: The Egyptian cabinet approved a proposal by the Ministry of Petroleum and Mineral Resources to cut outstanding natural gas debt owed by factories up until 31 December 2019. During its weekly videoconference meeting, the …
By: Heba El-Kordy Cairo – Mubasher: Local-currency deposits held by the Egyptian banking sector continued its upward trend in April for the 14th month in a row, hitting a new record. Deposits denominated in local currency grew by EGP 40.6 billion …
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session on a positive note on the back of local and Arab purchases. The benchmark EGX30 index increased by 0.83%, ending at 10,424 points. In the meantime, the small- and …
Cairo – Mubasher: Siemens Energy will supply the electrification package for the expansion of Cairo Metro’s Line 3, which will connect the capital with Cairo International Airport. This project will be carried out in collaboration with the …
Cairo – Mubasher: Egypt’s non-oil private sector activity witnessed a softer downturn in May than in April. The seasonally adjusted IHS Markit Egypt Purchasing Managers’ Index rose to 40.7 in May, compared to a record low of 29.7 in April, …
Cairo – Mubasher: Nile Cotton Ginning will pay EGP 231.1 million to settle its dispute with the Holding Company for Construction and Development (HCCD). The company announced that the ministerial committee for settling investment disputes approved …
Cairo – Mubasher: Alexandria Customs collected total taxes and duties of EGP 807 million for issuing customs clearance for cars and spare parts valued at EGP 2.85 billion in May, the Egyptian Ministry of Finance said in a statement on Wednesday. …
Cairo – Mubasher: Egypt has allocated EGP 47 billion worth of government investments to Upper Egypt governorates during fiscal year 2020/2021, up by 50% from FY19/20. Upper Egypt governorates account for 25% of total allocated government …
Cairo – Mubasher: Egypt has made a new oil discovery in Abu Senan area in the Western Desert. The discovery was made after Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well which started to produce 4,100 barrels of crude oil and …
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