Egypt news

Cairo – Mubasher: The value of bilateral trade between Egypt and Germany amounted to $2.50 billion in the first half (H1) of 2024, reflecting a 4.20% year-on-year (YoY) growth from $2.40 billion. The Arab Republic’s exports to Germany hit $463 …

Cairo - Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 65 billion through two tranches on Thursday, 12 September 2024. The first offering stood at EGP 35 billion and will mature in 182 days on …

Cairo – Mubasher: The Egyptian Exchange (EGX) witnessed a positive performance on Wednesday, with the EGX30 main index up 1.27% to  30,485.63 points. Both small- and mid-cap EGX70 EWI and EGX100 EWI indices closed the session higher by 0.44% at …

Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments entered into a new agreement with Svreico Real Estate Investment Company to acquire an 80% stake in the Svreico administrative building in the Smart Village. The EGX-listed …

Mubasher: Paymob, MENA’s leading financial services enabler, has secured a $22 million Series B extension round, bringing the company’s total Series B funding to $72 million. The transaction was led by EBRD Venture Capital, Endeavor Catalyst, …

Cairo – Mubasher: Palm Hills Developments Company plans to invest about EGP 22 billion in construction next year, compared to EGP 8.50 billion targeted by the end of 2024. The development company is set to launch a new project on the North Coast …

Cairo - Mubasher: The board members of e-finance for Digital and Financial Investments approved, on 9 September 2024, dividends distribution of EGP 0.19 per share for the first half (H1) of 2024. The dividends proposal is still subject to the …

Cairo – Mubasher: Mohamed Gibran, Egypt's Minister of Labor, stated that next Sunday, 15 September 2024, an official holiday to celebrate Prophet Muhammad's birthday (Mawlid El-Nabawi) The holiday will be paid for all employees at ministries, …

Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) announced new initiatives to drive and reinforce advanced digital solutions across its operations, according to a press release. The initiatives were unveiled during the Global AI Summit …

Mubasher: UAE-based fintech FlapKap, which was originally established in Egypt, has raised $34 million in a pre-Series A funding round, according to a press release. The fundraising was led by BECO Capital and Pact VC, with follow-on contributions …

Riyadh – Mubasher: Tree Digital Insurance Agency has officially launched the first Pet Insurance service in Saudi Arabia, marking a new era in the digital insurance industry. The groundbreaking product is designed to meet the growing needs of pet …

Cairo – Mubasher: The Egyptian Exchange (EGX) ended Tuesday’s trading session in the red zone, with the EGX30 main index down 0.89% to 30,104.35 points. Both small- and mid-cap EGX70 EWI and EGX100 EWI indices closed the session lower by 0.96% at …

Cairo – Mubasher: Six of October Development and Investment (SODIC) has announced a long-term syndicated facility with the amount of EGP 4.14 billion with Banque Misr and the Commercial International Bank-Egypt (CIB). SODIC will use the loan to …

Mubasher: iyris, the agriclimate tech company formerly known as RedSea, entered into a strategic partnership with Hyma Plastic, the market leader of Agricultural Polyethylene film products in Egypt. Hyma Plastic was appointed as an exclusive …

UAE – Mubasher: Leon Black has established a new branch of his family office, Elysium Management, at Abu Dhabi Global Market (ADGM), according to a press release. The new office, Scimitar, will serve as Elysium's first international office. …

Cairo – Mubasher: Entlaq, an Egypt-based company supporting entrepreneurs, has acquired a stake in foodtech Brotinni for an undisclosed value, according to a press release. The new investment will enable Brotinni to expand its footprint within the …

UAE – Mubasher: Majid Al Futtaim and Tabby, the leading shopping and payments app in the GCC, launched a new feature that integrates Tabby into the SHARE app, according to a press release. By integrating Tabby’s buy now, pay later (BNPL) services …

Riyadh – Mubasher: PayTabs Group plans to exceed SAR 200 billion in payment processing volumes by 2025, according to a statement in line with the 24 Fintech event that was held in Saudi Arabia for three days last week. The set target aligns with …

Riyadh – Mubasher: Sahm Capital has proven its position as the first brokerage on the Saudi Exchange (Tadawul) to carry out a proprietary Settlement & Clearing System. Chairman of Sahm Capital and Chief Strategy Officer of Valuable Capital Group …

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session with a varied note after EGX30 main index increased by 0.33% to 30,374.96 points. However, the small- and mid-cap EGX70 EWI and EGX100 EWI indices ended the session …

Cairo – Mubasher: Madinet Masr Housing and Development has launched its latest project Butterfly, through its subsidiary Minka, according to a press release. The development scheme, which is expected to generate sales reaching EGP 64 billion, …

Cairo – Mubasher: A consortium of investors comprising SPE PEF III (SPE Capital), the European Bank for Reconstruction and Development (EBRD), Tanmiya Capital Ventures (TCV) and British International Investment (BII) has fully acquired Tamweely …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned floating-rate treasury bonds (T-bonds) worth EGP 5 billion through one issue on Monday, 9 September 2024. The CBE also unveiled floating-rate T-bonds at a value of EGP 2 billion through …