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01:50 PM Oriental Weavers, IRSC forge partnership to install $1.5m solar power plant
Cairo – Mubasher: Oriental Weavers and Integrated Renewable and Sustainable Communities (IRSC) partnered for an energy project at a total investment of $1.50 million, according to a press release. IRSC will install a 2.5 MWp solar power plant at …
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11:18 AM Egypt-Germany trade exchange up to $2.5bn in H1-24
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 …
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08:55 AM CBE offers EGP 70bn debt instruments on Thursday
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 …
Ahmad Al Khowaiter, Aramco EVP of Technology & Innovation
11 September 10:16 AM Aramco unveils plans to promote digital development at GAIN summit
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 …
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11 September 03:32 PM Fawry acquires 80% of Svreico administrative building
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 …
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11 September 02:05 PM MENA’s Paymob raises $22m funding round
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, …
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11 September 01:26 PM Palm Hills unveils EGP 22bn investment for development project, Saudi partnership
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 …
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11 September 11:34 AM e-finance’s board unveils cash dividends for H1-24
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 …
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11 September 11:05 AM Egypt announces next Sunday public holiday on occasion of Mawlid El-Nabawi
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, …
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11 September 09:08 AM FlapKap boosts regional expansion plans via $34m funding
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 …
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10 September 05:22 PM Tree launches Saudi Arabia’s first-of-kind product on back of Insurance Authority
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 …
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10 September 03:22 PM SODIC obtains EGP 4.1bn facility from Banque Misr, CIB
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 …
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10 September 01:02 PM MENA-focused iyris expands business in Egypt’s agriculture sector
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 …
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10 September 11:06 AM Apollo selects Abu Dhabi as 1st international outpost for family office
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. …
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10 September 10:20 AM Entlaq acquires equity ownership in Brotinni to boost regional expansion
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 …
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9 September 06:04 PM PayTabs targets over SAR 200bn in payment volumes to drive MENA’s economy
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 …
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9 September 05:35 PM Sahm Capital’s system captures complete trading cycle – Chairman Chou at 24 Fintech
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 …
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10 September 09:03 AM Majid Al Futtaim, GCC-focused Tabby launch SHAREPay integration feature
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 …
Concord Booth at 24 Fintech
8 September 04:03 PM Concord’s Qadri unveils company services, expansion plans – Interview
Riyadh – Mubasher: Haitham Adel Qadri, Partner and Deputy General Manager for Administrative Affairs and Internal Control at Concord, talked with Mubasher.info in an interview during the 24 Fintech event, which made its debut in Saudi Arabia on 3 …
Hamza Abusitta, Co-Founder and CEO of Reachware
8 September 03:25 PM Abusitta showcases Saudi Reachware’s achievements, funding round – Interview
Riyadh – Mubasher: Hamza Abusitta, Co-Founder and CEO of Reachware, revealed to Mubasher.info during the 24 Fintech event that the company was established in 2021 with the main objective to simplify the digital transformation process instead of …
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9 September 03:25 PM Madinet Masr eyes EGP 64bn sales from Butterfly project
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, …
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9 September 01:05 PM Consortium including SPE Capital acquires Egypt-based Tamweely for EGP 2.5bn
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 …
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9 September 10:28 AM CBE offers T-bonds, floating-rate note on Monday
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 …
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9 September 10:00 AM Carrier Global Corporation inaugurates regional office in Riyadh
Riyadh – Mubasher: Carrier Global Corporation, a global leader in intelligent climate and energy solutions, has opened its regional office in Saudi Arabia, according to a press release. Located in Riyadh, the new office anchors Carrier’s …
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9 September 09:42 AM Digital DEWA's Moro Hub, Salzer to bolster digital transformation in region
Dubai – Mubasher: Moro Hub, a subsidiary of Digital DEWA that serves as the digital arm of Dubai Electricity and Water Authority (DEWA), signed a collaboration agreement with Salzer Technologies. In line with the UAE’s digital transformation …