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18 January 01:55 AM

Egypt news

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17 January 05:11 PM Egypt's non-oil exports rise 27% in Q3-21
Cairo – Mubasher: Egypt's non-oil exports increased by 27.1 % year-on-year (YoY) to $7.7 billion in the third quarter (Q3) of 2021, according to the quarterly report of the Cabinet's Information and Decision Support Centre. The country's non-oil …
Macroeconomics
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17 January 04:20 PM EGX ends Monday's session on varied note
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday's trading session on a varied note with the small- and mid-cap EGX70 EWI declining alone by 0.04% to 2,195.63 points. The main EGX30 index inched up 0.24% to close Monday's session …
Trading Activities
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17 January 02:33 PM Egypt secures $10.27bn development financing for economic sectors in 2021
Cairo - Mubasher: The Egyptian Ministry of International Cooperation has secured around $10.27 billion of development financing for various economic sectors in the country during 2021. In line with Egypt's Vision 2030, the Ministry allocated $8.71 …
Macroeconomics
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17 January 01:45 PM Giza Contracting wins EGP 752m project in 10th of Ramadan City
Cairo - Mubasher: Giza General Contracting and Real Estate Investment Company has been awarded a new project with an estimated value of EGP 752 million.  The company will construct multiple buildings in the 10th of Ramadan City, according to a …
Companies Investments
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17 January 12:30 PM HD Bank sees EGP 13m block trading deal
Cairo – Mubasher: The Egyptian Exchange (EGX) has announced a block trading deal worth EGP 13.44 million on the shares of the Housing and Development Bank (HD Bank). The block trading deal was implemented on 280,000 of HD Bank's shares, according …
Banking and Finance
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17 January 11:13 AM Orascom Construction adds $785m awards to backlog in Q4-21
Mubasher: Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, has added new contracts worth $785 million to its backlog in the fourth quarter (Q4) of 2021. This step has raised the total number of new awards by 22% …
Companies Investments
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16 January 05:03 PM FRA approves Al Shams Housing’s capital increase
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Shams Housing and Urbanization to increase its capital. The listed company's disclosure includes an EGP 45.37 million rise in …
Companies Investments
Minister of Petroleum and Mineral Resources, Tarek El-Molla
16 January 04:46 PM Egypt allocates EGP 30bn to develop oil companies in FY22/23
Cairo – Mubasher: Egypt has allocated EGP 30 billion to develop public oil companies, as part of the fiscal year (FY) 2022/2023 budget, the Minister of Petroleum and Mineral Resources, Tarek El-Molla, stated. El-Molla said that the Ministry seeks …
Macroeconomics
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16 January 04:13 PM EGX's indices close Sunday's session down
Cairo – Mubasher: The EGX30 benchmark index of the Egyptian Exchange (EGX) declined by 1.51% to close Sunday's trading session at 11,830.94 points. The EGX50 EWI retreated by 1.53% to 2,057.9 points, while the small- and mid-cap EGX70 EWI lost …
Trading Activities
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16 January 02:33 PM Egypt records $31bn exports in 2021
Cairo – Mubasher: The total value of Egypt's exports has exceeded $31 billion in 2021, the Egyptian Minister of Trade and Industry, Nevine Gamea, announced on Sunday. Gamea said that the Ministry of Trade and Industry has launched a number of …
Macroeconomics
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16 January 01:25 PM Egypt receives 3m doses of Pfizer vaccine
Cairo – Mubasher: Egypt has received three million doses of Pfizer COVID-19 vaccine from the US as part of the COVAX facility, the Acting Minister of Health and Minister of Higher Education and Scientific Research, Khaled Abdel Ghaffar,  announced …
Sector Reports
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16 January 01:00 PM Arab Polvara's losses retreat 38% in 2021
Cairo – Mubasher: Arab Polvara Spinning and Weaving (APSW) recorded a 38.4% decline in net losses to EGP 11.48 million in 2021, compared to EGP 18.66 million in 2020. The company generated revenues of EGP 41.8 million in 2021, up 39.92% from …
Financial Results
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16 January 11:56 AM Mansoura Poultry's EGM approves capital increase to EGP 97m
Cairo – Mubasher: The extraordinary general meeting (EGM) of Mansoura Poultry has agreed on an issued capital increase to EGP 97.44 million from EGP 81.2 million, which will be financed from 2020 profits. The company will increase its …
General Assembly
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16 January 11:06 AM CBE auctions EGP 11bn T-bills on Sunday
Cairo - Mubasher: The Central Bank of Egypt (CBE) has offered on Sunday treasury bills (T-bills) worth EGP 11 billion over two tranches, according to official data. The first tranche is valued at EGP 2.5 billion and holds a 91-day maturity period …
Treasury Bills
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13 January 04:17 PM EGX closes Thursday on negative note
Cairo – Mubasher: The EGX30 benchmark index of the Egyptian Exchange (EGX) inched down 0.40% to close Thursday's trading session at 12,012.31 points. The EGX50 EWI went down by 0.79% to close at 2,089.96 points, while the small- and mid-cap EGX70 …
Trading Activities
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13 January 01:40 PM Forbes Middle East’s most-funded startups secure $3bn in funding
Mubasher: The 50-most funded startups in MENA have raised a total of around $3 billion in funding, with the top 10 startups securing $1.9 billion combined, as shown by the annual list of Forbes Middle East. Forbes Middle East's list has …
Macroeconomics
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13 January 12:33 PM NMDC wins AED 79m project at Egypt's Safaga Port
Mubasher: The National Marine Dredging Co (NMDC) has been awarded the dredging works project at the entrance to the navigation channel and the trench of the quay wall in Safaga Port in Egypt in exchange for around AED 79 million. The project is …
Companies Investments
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13 January 10:49 AM CBE offers EGP 19bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue EGP 19 billion treasury bills (T-bills) on Thursday, in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche of the T-bills worth EGP 12.5 …
Central Banks
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12 January 07:06 PM Macro Group to list 577m shares on EGX
Cairo – Mubasher: The Egyptian Exchange’s (EGX) Listing Committee approved for Macro Group Pharmaceuticals to list its shares on the stock market under the symbol MCRO.CA. The company will list 577.35 million shares at a par value of EGP 0.20 …
Trading Activities
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12 January 04:33 PM EGX’s indexes close Wednesday on mixed note
Cairo – Mubasher: The EGX30 benchmark index of the Egyptian Exchange (EGX) closed Wednesday higher by 0.48% at 12,060 points. Meanwhile, the remaining indexes closed in the red zone, with the EGX50 EWI being down by 1.09% to 2,106.5 points. The …
Trading Activities
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12 January 03:10 PM Kima records EGP 350m net profits in initial Q2-FY21/22
Cairo – Mubasher: The initial financial results for the Egyptian Chemical Industries (Kima) during the second quarter (Q2) of fiscal year (FY) 2021/2022 indicated a net profit of EGP 350 million, according to a bourse disclosure on Wednesday. Kima …
Financial Results
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12 January 11:18 AM Elsewedy Electric's unit inks EGP 443m contract for project in New Administrative Capital
Cairo – Mubasher: Elsewedy Electric for Trading and Distribution, a 99.8% subsidiary of Elsewedy Electric Company, has signed an EGP 443.4 million contract for a five-month project in the New Administrative Capital. Under the contract, the company …
Companies Investments
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12 January 10:27 AM Arab Ministers launch 1st digital platform for mining sector
Mubasher: Arab Ministers have witnessed the launch of the first digital platform for demands and offers of Arab industrial and mining products “APIP.Online”. The digital platform aims to enhance intra-Arab trade of industrial and mining products …
Sector Reports
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11 January 04:26 PM EGX falls on Tuesday
Cairo – Mubasher: The EGX30 benchmark index of the Egyptian Exchange (EGX) closed Tuesday lower by 0.17% at 12,002.08 points. The EGX50 EWI went down by 1.18% to 2,129.81 points. The small- and mid-cap EGX70 EWI declined by 1.27% to 2,286.39 …
Trading Activities
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11 January 01:42 PM Future Minerals Forum begins in Riyadh to shape future of mining sector
Riyadh – Mubasher: Saudi Arabia’s capital, Riyadh, is hosting the first-ever Future Minerals Forum for three days starting today, 11 January. The event is held under the patronage of the Custodian of The Two Holy Mosques, King Salman bin Abdulaziz …
Global Economy