Mubasher: Primary debt issuances of bonds and sukuk in the Gulf Cooperation Council (GCC) countries surged to $75.50 billion in the first half (H1) of 2024, marking a 38% year-on-year (YoY) increase from $54.80 billion. Saudi Arabia led the GCC …
Cairo – Mubasher: Egyptian Media Production City Company (EMPC) announced the distribution of EGP 0.50 per share in cash dividends for 2023 on 8 August 2024. The eligibility date will be 5 August, according to a bourse filing. The ordinary general …
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced Thursday, 25 July 2024 as a holiday for all banks operating in the country in celebration of the 23 July Revolution. Banks will resume works on Sunday, 28 July, according to a cabinet …
Cairo – Mubasher: Egypt and the EU plan to activate a EUR 1.80 billion investment guarantee mechanism to stimulate local and foreign investments in mutually beneficial sectors, according to a press release. Rania El-Mashat, Minister of Planning, …
Cairo – Mubasher: Egypt-headquartered fintech Dopay has closed a strategic $13.50 million Series A extension round, according to a press release. The fundraising, which was led by y Argentem Creek Partners and other existing investors, will enable …
Cairo – Mubasher: MNT-Halan, Egyptian first unicorn and fintech leader, has secured $157.50 million in new funding. The financing round includes $40 million investment from the International Finance Corporation (IFC), with contributions from …
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has completed the issuance of its five-year Euro Medium-Term Note (EMTN) bond under its Social Finance Framework. The lender offered a $600 million issue, which was oversubscribed …
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) kept its key interest rates unchanged, maintaining the overnight deposit rate at 27.25%, the overnight lending rate at 28.25%, and the main operation rate at …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a combined value of EGP 65 billion through two tranches on Sunday, 21 July 2024. The first auction was valued at EGP 40 billion and will mature in 91 days on 22 …
UAE – Mubasher: MENA’s leading digital content provider Majarra has acquired Lableb, AI-based search engine that deals with the nature of Arabic content online. This strategic transaction anchors Majarra's position at the forefront of Arabic …
UAE – Mubasher: Abu Dhabi Global Market (ADGM) will implement major reductions of 50% or more for obtaining non-financial and retail licences within its jurisdiction as of 1 January 2025, according to a press release. This initiative comes in line …
By: Hady El-Essawy Cairo – Mubasher: The private offering of Act Financial’s shares has been oversubscribed by 20.20 times, informed sources told Mubasher. The subscription process ended on Thursday after achieving the highest coverage rate on the …
Mubasher: “Mubasher Info”, the Middle East and North Africa’s most preferred Arabic-language news agency for equity market news, data, analysis, and investor tools, with expertise spanning over twenty years, today announced the official launch of …
Cairo – Mubasher: Sinai Cement has announced that senior shareholders have subscribed to 75.95% of its capital hike offering in the first phase. Out of 168.20 million offered shares, senior shareholders subscribed to 127.74 million shares at a …
Cairo – Mubasher: The Central Bank of Egypt (CBE) has offered treasury bills (T-bills) at an aggregated value of EGP 75 billion over two issues on Thursday, 18 July 2024. The first auction totalled EGP 30 billion with a 182-day tenor until 21 …
Cairo – Mubasher: The unconsolidated net profit of Faisal Islamic Bank of Egypt leapt by 142.50% year-on-year (YoY) to EGP 6.55 billion in the first half (H1) of 2024 from EGP 2.70 billion. Total revenues jumped by 68.10% YoY to EGP 16.34 billion …
Cairo – Mubasher: Egypt has achieved a primary budget surplus of EGP 857 billion in the fiscal year (FY) 2023/2024, up 422.56% year-on-year (YoY) from around EGP 164 billion in the previous FY, said Minister of Finance Ahmed Kochouk Meanwhile, the …
Cairo – Mubasher: The Egyptian government has approved the proposal of UAE's AMEA Power to implement additional renewable energy projects by the summer of 2025. The projects involve adding 500 megawatts (MW) of solar energy upon the completion of …
Riyadh - Mubasher: Saudi Arabia’s Al Haytham Mining Company is considering acquiring a stake in Egypt’s Afaq Mining, Asharq News reported, citing CEO Khaled Al Jahdali. The Saudi company’s board plans to offer a share of the company’s stocks on …
Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) logged a consolidated net profit of EGP 449.08 million in the first quarter (Q1) of 2024 from EGP 173.25 million in Q1-23. Revenues from contracts with …
Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork reported a consolidated net profit of EGP 400.29 million in the first quarter (Q1) of 2024 from EGP 146.79 million in Q1-23. Revenues from contracts with clients soared to EGP 893.66 …
Cairo – Mubasher: Coca-Cola HBC Egypt has secured a $130 million loan from the European Bank for Reconstruction and Development (EBRD) to fund the company’s capex and working-capital requirements. The Global Environment Facility (GEF) will also …
Cairo – Mubasher: The International Monetary Fund (IMF) has cut its expectations for Egypt’s real GDP growth for 2024 and 2025 by 0.3% for each year. The IMF reduced its expectations for the country’s growth in 2024 and 2025 to 2.70% and 4.10%, …
Riyadh – Mubasher: Oil and gas drilling services provider ADES Holding Company has amended its existing syndicated facility, obtaining an additional $3 billion multi-tranche dual-currency financing on 14 July 2024. The majority of existing lenders …
Mubasher: Global real estate firm CBRE Middle East has appointed Michael Young as its new Managing Director for the MENA region as of 1 July 2024. With over two decades of experience across Asia Pacific, the UK, and MENA, Young brings proven …
