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The market cap value gained EGP 9.5 billion
4 June 05:59 PM EGX30 ends Thursday at highest level since mid-March
By: Heba El-Kordy Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session in the green territory on the back of local purchases. The benchmark EGX30 index advanced by 1.89% to end at 10,621, hitting its highest closing …
Egypt's construction and building industry is valued at $25 billion
4 June 05:20 PM Fitch sees Egypt as MENA's largest construction market by 2029 – Cabinet
Cairo – Mubasher: The Egyptian cabinet said that Fitch Ratings expects the construction and building sector in the most populous Arab nation to continue its robust growth over the next decade. Between 2020 and 2024, the construction sector is …
The market cap value gained EGP 3 billion
3 June 04:58 PM EGX ends Wednesday in green amid heavy liquidity
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session on a positive note on the back of local and Arab purchases. The benchmark EGX30 index increased by 0.83%, ending at 10,424 points. In the meantime, the small- and …
The Egypt PMI rose 11 points to 40.7 in May
3 June 04:04 PM Egypt’s non-oil private activity sees softer downturn in May
Cairo – Mubasher: Egypt’s non-oil private sector activity witnessed a softer downturn in May than in April. The seasonally adjusted IHS Markit Egypt Purchasing Managers’ Index rose to 40.7 in May, compared to a record low of 29.7 in April, …
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
2 June 04:23 PM EGX gains EGP 5.8bn 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 1.09%, ending the mid-week session at 10,338 points. Similarly, the small- and …
2 June 03:41 PM Egypt's sovereign fund inks deal to develop Bab Al-Azab area
Cairo – Mubasher: The Egyptian Supreme Council of Antiquities signed an agreement with the Sovereign Fund of Egypt to develop and manage the services at the ‘Bab Al-Azab’ area of Salah Al-Din Al-Ayyubi’s historic Citadel. Under the deal, the …
Companies face trading suspension on 15 June
1 June 12:41 PM EGX warns 8 listed firms of trading suspension
Cairo – Mubasher: The Egyptian Exchange (EGX) warned that trading on eight listed companies will be suspended if they fail to submit their financial statements for 2019 after the end of the new 45-day reporting period deadline. Companies that face …
The market’s turnover amounted to EGP 53.2 billion
1 June 11:20 AM EGX loses EGP 22.7bn in market cap in May
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices closed May on a negative note with the market cap losing about EGP 22.7 billion. The benchmark EGX30 index fell by 3.16%, ending the fifth month of 2020 at 10,220 points. Likewise, the EGX70 …
Photo Archive
31 May 04:01 PM Tadawul lists AlBilad Gold ETF
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the listing and trading units of “AlBilad Gold ETF” as an exchange-traded fund (ETF). on Tuesday 2 June 2020. The units if the fund will be traded under the symbol 9405. The Saudi …
The UAE's oil production in May came in line with the OPEC+ agreement
31 May 10:19 AM UAE delivers 2.4m bpd in May
UAE - Mubasher: The UAE has produced 2.40 million crude oil barrels per day (bpd) in May, a source told Reuters. The UAE's oil production in May came in line with OPEC+ agreement to cut oil supply by 9.7 million bpd as of 1 May, due to a decrease …
The financing was provided to 48,743 projects
26 May 12:35 PM Egypt’s MSMEDA offers EGP 1.1bn funding in 4M
Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated EGP 1.19 billion in funding to 48,743 small and micro projects during the first third of 2020, MSMEDA’s executive director and the …
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
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 …
(Photo Credit: cafecredit)
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 …