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Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
Regulatory measures were taken to manage booking
24 May 03:04 PM ENR transports 2.6m last week - transport minister
Cairo – Mubasher: Egyptian National Railways (ENR) has transported around 2.6 million passengers last week, Egypt's transport minister Kamel El-Wazir announced in a statement issued on Sunday. The ministry has taken regulatory measures to …
The ministry aims to procure 3.6m tonnes
24 May 12:28 PM Egyptian government receives 3m tonnes of local wheat
Cairo - Mubasher: Egypt has obtained three million tonnes of the locally-cultivated wheat crop during the harvest season, Egypt's ministry of supply and internal trade announced on Sunday.  Minister Ali Al Moselhi confirmed that the local wheat …
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
The market cap value lost EGP 1.1 billion
21 May 03:59 PM EGX ends Thursday mixed
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session on a varied note amid foreign selloffs and local and Arab purchases. The benchmark EGX30 index fell by 0.94%, ending the session at 10,109 points. Likewise, the EGX70 …
David Parker - co-chief Investment officer for the Financial Services sector at EDB
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
The market’s turnover amounted to EGP 547.8 million
20 May 04:07 PM EGX ends Wednesday in red; market cap loses EGP 6.6bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session in the red territory, pressured by foreign selloffs. The benchmark EGX30 index retreated by 1.47%, ending the session at 10,205 points. Likewise, the EGX70 EWI fell …
Banks will be reopened on 31 May
20 May 10:26 AM Egyptian banks, bourse to take 5-day Eid holiday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that all banks will be closed from Sunday, 24 May, to Thursday, 28 May, on the occasion of Eid El-Fitr. Banks will be reopened on Sunday, 31 May, the CBE said in a statement late on …
The market’s turnover reached EGP 662.848 million
19 May 03:34 PM EGX gains EGP 5.8bn in market cap at Tuesday's close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in the green territory on the back of local purchases. The benchmark EGX30 index advanced by 0.76%, ending the mid-week session at 10,357 points. Likewise, the EGX70 …
The market’s turnover reached EGP 642.44 million
18 May 04:15 PM EGX ends Monday in red on Arab, foreign selloffs
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session in the red zone amid foreign and Arab selloffs. The benchmark EGX30 index declined by 0.76%, ending the session at 10,278 points. Likewise, the EGX70 EWI fell by 0.29% …
The market’s turnover reached EGP 997.617 million
12 May 04:07 PM EGX gains EGP 10.8bn in market cap at Tuesday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a positive note on the back of local purchases. The benchmark EGX30 index rose by 2.84%, ending the mid-week session at 10,588 points. In the meantime, the EGX70 EWI …
The benchmark EGX30 index rose by 0.38%
11 May 04:13 PM EGX ends Monday mixed; market cap drops EGP 2.6bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session on a varied note amid foreign and Arab selloffs and local purchases. The benchmark EGX30 index rose by 0.38% to close at 10,296 points. On the other hand, the EGX70 EWI …
Saudi oil production in June is seen at 7.492 million b/d
11 May 03:33 PM KSA orders voluntary additional oil output cut
Riyadh – Mubasher: Saudi Arabia’s Ministry of Energy has directed Saudi Aramco to reduce crude oil production in June, Saudi Press Agency (SPA) reported. The output will include an extra voluntary amount of one million barrels per day (b/d), in …
Fees on EGX transactions were lowered to 0.010%
7 May 11:43 AM Egypt lowers bourse trading fees
Cairo – Mubasher: The Egyptian cabinet decided to reduce bourse trading fees in a bid to boost the Egyptian Exchange (EGX). Fees on EGX transactions were lowered to 0.010% from 0.012%, while charges on clearing and settlement services were reduced …
The market’s turnover amounted to EGP 688.55 million
5 May 03:25 PM EGX ends Tuesday up; market cap gains EGP 4.8bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in the green territory on the back of local and Arab purchases. The benchmark EGX30 index rose by 1.05%, ending the mid-week session at 10,188 points. Meanwhile, the …
Egypt's PMI plunged to a historic low of 29.7 in April
5 May 11:49 AM Egypt’s PMI falls to a historic low in April amid COVID-19 measures
Cairo – Mubasher: Egypt’s non-oil private sector witnessed a severe decline in business conditions in April with activity, new business, and exports falling at record rates amid precautionary measures taken to contain the coronavirus (COVID-19) …
The market’s turnover amounted to EGP 605.38 million
4 May 03:49 PM EGX loses EGP 5.2bn in market cap at Monday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session in the red zone. The benchmark EGX30 index dropped by 1.16% to end at 10,081 points. Meanwhile, the small- and mid-cap EGX70 EWI fell by 2.53% to 1,150 points, while the …
The market’s turnover amounted to EGP 878.5 million
3 May 04:09 PM EGX ends Sunday down; market cap drops EGP 15bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session on a negative note. The benchmark EGX30 index fell by 3.36% to end at 10,199 points. Meanwhile, the small- and mid-cap EGX70 EWI declined by 3.7% to 1,179 points, while …
The market cap value gained EGP 2.5 billion
29 April 03:58 PM EGX ends Wednesday up amid heavy liquidity
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session on a positive note. The benchmark EGX30 index rose by 1.25% to end at 10,545 points. Meanwhile, the small- and mid-cap EGX70 EWI grew by 0.57% to 1,209 points, while …
The market’s turnover amounted to EGP 1.16 billion
28 April 04:02 PM EGX ends Tuesday in green; market cap gains EGP 4.2bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a positive note. The benchmark EGX30 index rose by 0.38% to end at 10,415 points. Meanwhile, the small- and mid-cap EGX70 EWI grew by 1.25% to 1,202 points, while …
The market’s turnover amounted to EGP 1.04 billion
27 April 03:25 PM EGX ends Monday mixed; market cap loses EGP 383m
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday's trading session on a varied note. The benchmark EGX30 index edged down by 0.01% to end at 10,376 points. Meanwhile, the small- and mid-cap EGX70 EWI rose by 0.23% to 1,187 points, while …
Hotel occupancy rate in Hurghada is forecast to be at 48% in 2021
27 April 01:15 PM Cairo’s hotel occupancy rate seen at 65% in 2021 – Colliers International
Cairo – Mubasher: The hotel industry in Egypt is expected to recover from the repercussions of the coronavirus (COVID-19) outbreak starting from the fourth quarter of 2020 and 2021, according to a recent report released by Colliers International. …
The market's turnover reached EGP 1.09 billion
23 April 03:58 PM EGX gains EGP 11.2bn in market cap at Thursday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session on a positive note on the back of local and Arab purchases. The main EGX30 index climbed by 3.26%, ending the session at 10,120 points. Likewise, the small- and …
Air Arabia Abu Dhabi becomes the fifth UAE national operating airline
23 April 12:56 PM Air Arabia Abu Dhabi receives air operating certificate
UAE – Mubasher: Air Arabia Abu Dhabi, a joint venture between Etihad Airways and Air Arabia, has obtained its Air Operating Certificate (AOC), becoming the fifth UAE national operating airline. To operate from Abu Dhabi, Air Arabia Abu Dhabi has …