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10 December 07:19 AM

Top News

Samih Sawiris as a speaker at RiseUp Summit 2019
9 December 04:44 PM Samih Sawiris speaks out on personal & business habits during RiseUp
By: Ingy ElSafy Cairo – Mubasher: A lot of people lack the presence of a role model or mentor in their lives to take after and aspire when it comes to both personal and business matters. The Egyptian billionaire Samih Sawiris has opened up before …
Global Economy
The bank's non-performing loan portfolio reached EGP 3.5 billion
9 December 01:21 PM Egypt’s Agricultural Bank mulls 3 offers to develop infrastructure
By: Islam Fadl Cairo – Mubasher: The Agricultural Bank of Egypt (ABE) is currently considering three offers submitted by international companies to develop its infrastructure, the bank’s vice chairman Tamer Gomaa told Mubasher. Three foreign …
Banking and Finance
NBE’s SME loan portfolio reached EGP 65 billion at the end of November
9 December 11:40 AM NBE expected to generate EGP 9bn profit in H2-19/20
By: Islam Fadl Cairo – Mubasher: The National Bank of Egypt (CBE) is projected to achieve profits of EGP 9 billion during the second half of fiscal year 2018/2019, NBE’s vice chairman Yehia Aboul Fotouh told Mubasher. During the first half of …
Financial Results
9 December 06:57 PM Finland appoints world’s youngest Prime Minister
34-Year old Sanna Marin has been chosen as the new Prime Minister of Finland, which makes her the youngest serving prime minister in the world.
Global Reports
SEBC’s head Bandar Al Amri is willing to pump new investments
9 December 06:25 PM Saudi investor plans to invest EGP 15bn in New Alamein
Cairo – Mubasher: The head of Saudi Egyptian Business Council (SEBC) said that his company aims to invest around EGP 15 billion in New Alamein City, according to a Monday statement by Egypt’s cabinet. SEBC’s head Bandar Al Amri said that he is …
Companies Investments
Naeem Holding for Investments owns 98% of Naeem Consulting Services
9 December 06:04 PM Reacap’s board decides to acquire Naeem Consulting Services
Cairo – Mubasher: The board of directors of Reacap Financial Investments approved the acquisition of the entire stake of Naeem Holding for Investments in Naeem Consulting Services.  The decision is still pending approval of shareholders set to …
Board of Directors
Industrial sector generated EGP 168.4 billion
9 December 05:46 PM Egypt’s industrial production inches down in Q1
Cairo – Mubasher: Egypt’s industrial production, less crude oil and refining, edged down by 0.1% year-on-year in the first quarter of 2019, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) figures. The value of …
Macroeconomics
The initiative is set to end on 30 June 2020
9 December 05:35 PM CBE’s initiative targets defaulting factories indebted with EGP 35.6bn
By: Islam Fadl Cairo – Mubasher: The Central Bank of Egypt (CBE) has launched an initiative to support defaulting factories with a debt less than EGP 10 million. Under the initiative set to end on 30 June 2020, factories will pay 50% of the …
Macroeconomics
The market’s turnover amounted to EGP 441.5 million
9 December 04:56 PM EGX ends Monday in red; market cap gains EGP 1.69bn
Cairo – Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session on a negative note, with its benchmark EGX30 index falling by 0.38% to 13,442 points. The heavyweight Commercial International Bank (CIB) retreated 0.15% to EGP 77.4, …
Trading Activities
The story of Fawry was featured in the 2019 RiseUp Summit
9 December 04:47 PM Fawry encourages startups to consider listing on EGX
Cairo – Mubasher: The story of Fawry was featured in a session titled “An IPO Story” on the third and final day of the 7th RiseUp Summit, held on 5-7 December 2019 at the American University in Cairo (AUC), under the theme “Journey to Growth.” …
Initial Public Offerings
The Egyptian government aims to increase its exports to EGP 200 billion by 2030
9 December 04:41 PM Egypt’s industrial initiative targets factories with EGP 50m-1bn annual sales
By: Islam Fadl Cairo – Mubasher: Egypt’s recently-launched EGP 100 billion initiative targets private-sector industrial companies with annual sales between EGP 50 million and EGP 1 billion, the Central Bank of Egypt’s (CBE) deputy governor Gamal …
Macroeconomics
Dubai International Airport
9 December 04:32 PM Dubai Airports prepares to cut single-use plastics
UAE – Mubasher: As the clock is ticking towards the self-imposed deadline to ban single-use plastics, Dubai International Airport (DXB) is actively laying the groundwork to eliminate plastic cutlery and drinking straws. In June 2019, Dubai …
Global Economy
9 December 04:06 PM OZY Media sees "exponential growth" from MENA in entertainment, media
Mubasher: The global media pioneering company, OZY Media, said it will increase its focus on the entertainment and media industry across the MENA region.
Global Reports
These investments are the largest since the establishment of the company in 2001
9 December 04:04 PM Egyptian Electricity Transmission invests EGP 19.5bn in FY18/19
Cairo – Mubasher: Total value of investments by the Egyptian Electricity Transmission Co. (EETC) amounted to EGP 19.5 billion during fiscal year 2018/2019, reaching 100.3% of the target, the company’s chairman Sabah Mashaly said. These investments …
There were 575,000 beneficiaries
9 December 03:47 PM Egyptian banks pump EGP 150bn in SMEs initiative in 3 yrs
By: Islam Fadl Cairo – Mubasher: Egypt’s small and medium enterprises (SMEs) received a total of EGP 150 billion in a bank financing initiative between January 2016 and September 2019, the Central Bank of Egypt’s (CBE) deputy governor said on …
Macroeconomics
70% of MENA’s corporate investors are GCC-based companies
9 December 03:25 PM Corporate appetite in MENA grows in 5 years – Arabnet Report
Mubasher: The entrepreneurial ecosystem across the Middle East and North Africa (MENA) has been grabbing global and regional attention, with higher investor appetite and interest in the region’s startups, according to Arabnet report. The “State of …
Sector Reports
9 December 02:53 PM China’s solar PV market grows despite US tariffs - GlobalData
The global solar PV market is expected to see a 13% growth in installations
Global Reports
Lebanon and Jordan saw the highest female participation at 20%
9 December 02:29 PM MENA's public, private sectors foster female entrepreneurs' inclusion – Arabnet Report
Mubasher: The proportion of female entrepreneurs across the region stabilised at 14% during the period from 2013 and 2018 despite the governments' initiatives to involve more females in the labour force, according to the 4th edition of the “State …
Macroeconomics
Lebanon is home to 125 existing startups - Arabnet report
9 December 02:23 PM Lebanese entrepreneurs think digitally if given space to grow – Arabnet Report
Mubasher: Lebanon’s entrepreneurial ecosystem flourished making the country among the major assets for digital innovation across the MENA region, following the implementation of Circular 331 of the Central Bank of Lebanon back in August 2014. …
Sector Reports
Central Bank of Egypt
9 December 02:02 PM Egypt mulls 3 green, Islamic bond offerings in FY19/20
Cairo – Mubasher: Egypt is mulling the issuance of three bond offerings during fiscal year 2019/2020, Reuters reported on Monday, citing the finance minister Mohamed Maait as saying. The potential issuance include green, variable-yield, and …
Bonds
The investment minister and German ambassador signed the deal
9 December 01:09 PM Germany grants Egypt EGP 36m to support agricultural sector
Cairo – Mubasher: Egypt and Germany inked a grant agreement worth EGP 36 million in the framework of an agricultural quality control project. The project will help improve the regulatory system of quality control for agricultural products, with …
The Egyptian government gives high priority for empowering youth and women
9 December 12:51 PM US investments in Egypt hit $22.8bn – Minister
Cairo – Mubasher: US investments in the Egyptian market amounted to $22.8 billion, the Egyptian investment and international cooperation minister Sahar Nasr said. In addition, the total value of the Egyptian-US cooperation portfolio reached $1 …
Macroeconomics
9 December 12:31 PM Sanofi to acquire US biotech firm Sythorx $2.5bn
Mubasher: Sanofi on Monday said it will take over US biotechnology company Synthorx in a cash deal that valued the latter at $2.5 billion.
Global Reports
Alexandria Portland incurred net losses of EGP 96.58 million in nine months
9 December 12:20 PM Major shareholder offers EGP6/shr to buy remaining shares of Alexandria Portland
Cairo – Mubasher: The board of directors of Alexandria Development Ltd has decided to submit a mandatory tender offer (MTO) to acquire the remaining shares of Alexandria Portland Cement, or 11.07% of the company’s capital shares. Despite the …
Companies Investments
The loan will be used to resume the construction works of seven new faculties
9 December 11:55 AM Cairo Investment borrows EGP 130m from QNB Al Ahli
Cairo – Mubasher: Cairo For Investment and Real Estate Development signed a credit facility agreement worth EGP 130 million with Qatar National Bank Al Ahli (QNB Al Ahli). The loan will be used to resume the construction works of seven new …
Real estate