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Minister Rania El-Mashat and Ambassador Ib Petersen
17 June 06:28 PM Egypt, UNFPA discuss cooperation on SDGs, Vision 2030
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, met with Ambassador Ib Petersen, Assistant Secretary-General of the United Nations (UN) and Deputy Executive Director of the United Nations Population Fund …
HAH will replace its old vehicles with electric ones
17 June 03:16 PM Hassan Allam joins forces with El Nasr to switch to electric cars
Cairo – Mubasher: Hassan Allam Holding Company (HAH) signed a cooperation agreement with El Nasr Automotive Manufacturing Company to replace part of its fleet with electric vehicles, according to a press release on Thursday. HAH will replace its …
The company will reduce the capital by EGP 10.88 million
17 June 02:31 PM United Housing's EGM approves capital cut
Cairo – Mubasher: The extraordinary general meeting (EGM) of United Company for Housing and Development has approved to cut the company's issued and paid-up capital to EGP 343.11 million from EGP 354 million. The company will reduce the capital by …
Net sales amounted to EGP 282.63 million in Q1-21
17 June 02:12 PM Sinai Cement’s Q1 losses widen 40%
Cairo – Mubasher: Sinai Cement incurred consolidated net losses after tax worth EGP 147.97 million in the first quarter (Q1) of 2021, higher 40% than EGP 105.8 million in Q1-20. Loss per share stood at EGP 2.17 in Q1-21, compared to EGP 1.55 in …
AMOC targets revenues of EGP 10 billion
17 June 01:25 PM AMOC eyes EGP 227m investments next year
Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) intends to invest EGP 227 million as proposed in the budget plan for fiscal year (FY) 2021/2022. The board of AMOC approved the budget plan that indicates a net profit after tax worth EGP …
The Middle East could be having a few more unicorns
17 June 12:25 PM Middle East could be seeing more billion-dollar startups – Careem CEO
Mubasher: The Middle East is not far from seeing more billion-dollar startups in the coming months, and it could be having “a few more unicorns in the region,” CEO of ride-hailing company Careem Mudassir Sheikha stated during a CNBC event The …
The company has achieved EGP 1.187 billion net profits
17 June 11:48 AM Ezz Steel's exports hit $269m in Q1-21
Cairo – Mubasher: The total exports of Ezz Steel jumped by 47% year-on-year (YoY) to $269 million during the first quarter (Q1) of 2021, compared to $183 million. These exports comprise $208 million in flat steel and $61 million in coiled rebar, …
Tadawul remained the MENA region’s top listing venue in Q1-21
17 June 11:27 AM Saudi Arabia continues to lead MENA’s IPO market – EY
Mubasher: Saudi Arabia witnessed the most active initial public offering (IPO) transactions across the MENA region, topping the regional listing venue in the first quarter (Q1) of 2021, a recent report by Ernst & Young (EY) unveiled. The Saudi …
The upcoming years will continue to witness an increase in residential demand
16 June 04:00 PM Egypt’s property sector backed by resilient economy, strong demographics – Savills
Cairo – Mubasher: The real estate market in Egypt is maintaining its position and is regarded as an attractive investment, supported by the impact of the country’s economic expansion, according to Head of Savills Egypt, Catesby Langer-Paget. The …
The company's sales rose to EGP 323.93 million in Q1-21
16 June 02:32 PM GEMMA reports higher net profits in Q1-21
Cairo – Mubasher: The net profits of Al Ezz for Ceramics and Porcelain (GEMMA) jumped to EGP 38.628 million during the first quarter (Q1) of 2021, compared to EGP 5.55 million in the year-ago period. The company's sales rose to EGP 323.93 million …
Net sales amounted to EGP 1.99 billion in Q1-21
16 June 02:27 PM Mopco records 48.5% higher profits in Q1 consolidated financials
Cairo – Mubasher: Misr Fertilizers Production Company (Mopco) achieved consolidated net profits after tax, including minority interest, worth EGP 792.66 million in the first quarter (Q1) of 2021, an increase of 48.5% from EGP 533.61 million in …
Pioneers Holding will focus on establishing securities firms or increasing their capital
16 June 01:54 PM Pioneers Holding’s board approves split proposal
Cairo – Mubasher: The board of Pioneers Holding Company approved the proposal drafted by a committee of the General Authority for Investment to split the entity into three companies at total net equity rights of EGP 7.03 billion while maintaining …
Earnings per share (EPS) stood at EGP 52.44 in Q1-21
16 June 12:09 PM Al Ezz Dekheila Steel turns profitable at over EGP 1bn in Q1
Cairo – Mubasher: Al Ezz Dekheila Steel - Alexandria achieved consolidated net profits after tax, including minority interest, worth EGP 1.02 billion during the first quarter (Q1) of 2021, against net losses of EGP 1.07 billion in Q1-20. Earnings …
There are more than 6,000 Saudi companies operating in Egypt
14 June 05:31 PM Saudi Arabia to raise working capital in Egypt to $50bn
Riyadh – Mubasher: The Saudi working capital in the Egyptian market currently stands at $5 billion, with a target to increase this value to $50 billion, Head of the Saudi Egyptian Business Council (SEBC) Bandar Al Amri revealed. There are more …
The duration of the contract is 15 years
15 June 05:25 PM Orascom Investment signs EGP 200m deal for Sound and Light shows
Cairo – Mubasher: Orascom Investment Holding penned a contract with Misr Company for Sound and Light and Tourism Development that covers the development and participation in the management of the Sound and Light shows and the show area at the …
Loss per share stood at EGP 0.074 in Q1-21
15 June 04:38 PM South Valley Cement’s Q1 losses shrink 14%
Riyadh – Mubasher: South Valley Cement Company posted net losses worth EGP 35.69 million during the first quarter (Q1) of 2021, lower by 13.77% than EGP 41.39 million in Q1-20. Loss per share stood at EGP 0.074 in Q1-21, compared to EGP 0.086 in …
Sales increased to EGP 772.69 million in Q1-21
15 June 03:45 PM Minapharm achieves net profits worth EGP 122m in Q1
Cairo – Mubasher: Minapharm Pharmaceuticals posted consolidated net profits after tax, including minority rights, worth EGP 121.9 million during the January-March 2021 period, compared to EGP 79.24 million in the prior-year period. Sales increased …
HD Bank achieved a 7.8% annual growth in interest revenues
15 June 03:07 PM HD Bank logs EGP 651m in Q1 consolidated profits
Cairo – Mubasher: Housing and Development Bank (HD Bank) recorded a consolidated net profit after tax worth EGP 651.06 million during the first quarter (Q1) of 2021, higher by 7.6% than EGP 604.58 million in Q1-20. HD Bank achieved a 7.8% annual …
Palm Hills New Cairo
15 June 01:59 PM Palm Hills’s Q1 net profits jump 152%
Cairo – Mubasher: Palm Hills Developments recorded a leap of 152% in consolidated net profits after tax and minority interest to EGP 204.62 million during the first quarter (Q1) of 2021 from EGP 81.26 million in Q1-20. Earnings per share amounted …
Sales decreased to EGP 647.08 million in Q1-21
15 June 01:29 PM Domty turns to loss exceeding EGP 3m in Q1
Cairo – Mubasher: Arabian Food Industries Company (Domty) incurred consolidated net losses after tax, including minority interest, worth EGP 3.43 million during the January-March 2021 period, against a net profit of EGP 32.09 million in the same …
Revenues totalled EGP 336.17 million in Q1-21
15 June 12:50 PM Arabia Investments records EGP 15m net profits in Q1
Cairo – Mubasher: Arabia Investments Holding achieved consolidated net profits after tax, including minority interest, worth EGP 15 million during the first quarter (Q1) of 2021, higher by 62.6% than EGP 9.22 million in Q1-20. Earnings per share …
The pilot production phase will last for 60 days
15 June 12:13 PM Al Naqool starts pilot production of SAR 20m project in Egypt
Riyadh – Mubasher: Mohammed Hassan Al Naqool Sons Co. announced the beginning of the pilot production phase at its SAR 20 million worth project in Egypt, according to a bourse filing on Tuesday. The Saudi listed firm has established the subsidiary …
The contract duration is five years that can be renewed
15 June 10:51 AM Raydan inks $30,000 deal with Egypt’s Golden Star
Riyadh – Mubasher: Raydan Food Company has signed a franchise agreement with Egypt-based Golden Star Est for Ready Meals at a value of $30,000. The contract has been registered under the trademark Raydan for 6% of total sales besides the franchise …
EGX Chairman Mohamed Farid speaking at the forum
13 June 01:44 PM EGX Chairman expects 4-5 IPOs in H2-21
By: Ahmed Allam Sharm El-Sheik – Mubasher: Egyptian Exchange (EGX) Chairman Mohamed Farid said that after listing the shares of two new companies this year, a third offering that was delayed is expected before the end of 2021. Speaking on the …
Photo Credit: Pixabay
14 June 06:43 PM Qalaa Holdings explains Chairman’s travel ban situation
Cairo – Mubasher: Qalaa Holdings said on Monday that the company’s Chairman Ahmed Heikal was informed that his name appears on the travel ban list. In a disclosure to the Egyptian Exchange (EGX), Qalaa said that this happened as the chairman was …