Top News

Cairo – Mubasher: Urbnlanes Development, a subsidiary of Emeel Abdalla Investments, plans to increase its investments in Egypt to EGP 24 billion during 2023. So far, Urbnlanes’ investments in Egypt amount to EGP 11 billion distributed on 3 …

Cairo – Mubasher: Egypt’s net international reserves reached $33.53 billion at the end of November 2022, compared to $33.41 billion in October 2022, the Middle East News Agency (MENA) cited the Central Bank of Egypt (CBE). This represents an …

Cairo – Mubasher: Saudi Arabia-based mobility solutions platform Morni is planning to invest $10 million to target new acquisitions in Egypt in the mobility space through Exists.me, an acquisition and mergers (M&A) advisory firm.  The new buy-side …

Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …

Cairo – Mubasher: The executive board of the International Monetary Fund (IMF) has scheduled a meeting on Egypt on 16 December 2022 as the Arab world’s most populous nation awaits final approval for a $3 billion loan deal. On 5 December, the …

Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed Tuesday’s trading session with a positive performance. The EGX30 main index rose by 1.19% to 14,498.29 points. Likewise, the EGX50 EWI grew by 1.24% to 2,453.24 points. Moreover, …

Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …

Cairo – Mubasher: Karim Saada, CEO and Managing Director of Al Ahly Capital Holding Company, stated that the firm intends to sell its entire shares in three companies listed on the Egyptian Exchange (EGX). Saada noted that Al Ahly Capital, the …

Cairo – Mubasher: Chairman of the Egyptian Sugar and Integrated Industries Company (ESIIC), Essam El-Bedeiwy, said his company received three international offers to establish an ethanol or absolute alcohol (99.99%) extraction factory from …

Cairo – Mubasher: The Egyptian Sugar and Integrated Industries Company (ESIIC) plans to establish 3 fertiliser production factories with up to EGP 480 million investments, the Middle East News Agency (MENA) reported on Tuesday. The statement was …

Cairo – Mubasher: The board of directors of Egyptian Gulf Bank (EG Bank) has approved the bank's estimated budget for fiscal year (FY) 2023 during a meeting on Monday, 5 December. The bank’s profits are expected to grow by more than 15% on an …

Cairo – Mubasher: Shareholder Sherif Alaa Ahmed El-Zayat has sold his entire 6.01% stake in Speed Medical Company (SPMD) for a total value of EGP 28.86 million. El-Zayat sold 66.65 million shares at an average price of EGP 0.43 per share, …

Cairo – Mubasher: The volume of trade exchange between Egypt and Poland reached EUR 700,000 in 2021, Ahram Gate reported. In a press conference on the margin of the Food Africa 2022 Conference, Poland’s Ambassador to Egypt, Michał Łabenda, said …

By: Abdullah Bedair Cairo - Mubasher: The Land Developers (TLD) plans to invest EGP 500 million in a residential project in Red Sea Governorate’s Sahl Hasheesh. The project spans 10.70 feddans (45,000 square metres) and includes 85 villas and 60 …

Cairo – Mubasher: Banque Misr and Commercial International Bank (CIB) have arranged and granted joint financing worth EGP 6.35 billion to Benya Group. The funding will be used in financing projects awarded to Benya covering the technological …

Cairo – Mubasher: The customs authority of Port Said collected EGP 3.21 billion in taxes, customs duties, and other charges in November 2022. The total value of taxes and customs duties collected for imported goods at the port hit EGP 561.26 …

Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …

Cairo - Mubasher: Alinma Investment Co has cut its stake in El-Ebour Co. for Real Estate Investment to 9.30% from 10.27% for a total value of EGP 1.59 million. Alinma has sold 169,599 shares in El-Ebour Real Estate at a share price averaging EGP …

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed Monday’s trading session with a mixed performance. The EGX30 main index increased by 1.77% to 14,327.77 points. Likewise, the EGX50 EWI added 0.60% to close at 2,423.13 points. On …

Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …

Cairo - Mubasher: Global leader in the digitalisation of industrial automation and energy management, Schneider Electric, has signed a partnership contract with the Industrial Services Center (DATCO) to distribute its products. The new partnership …

Cairo – Mubasher: Cairo-based GPS-enabled pharmacy benefits platform Chefaa has partnered with MoEngage to drive engagement and enhance retention metrics. The leading healthcare and pharmaceutical service brand helps chronic patients order, …