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Kuwait’s oil economy slipped by 1% in 2019
27 January 11:49 AM Kuwait’s GDP down to 0.7% in 2019 on lower oil sector growth – IMF
Mubasher: The International Monetary Fund (IMF) on Monday stated that Kuwait’s gross domestic product (GDP) slowed to 0.7% in 2019 from 1.2% in 2018, pressured by lower oil prices and output, despite the growing non-oil sector. Kuwait’s real oil …
Market cap lost about EGP 270 million
26 January 04:40 PM EGX30 edges down at Sunday's close amid foreign sell-offs
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session with a sideways-to-declining performance amid foreign sell-offs. The benchmark EGX30 index edged down by 0.05%, ending the session at 13,721 points. Meanwhile, the …
Total Saudi merchandise exports slipped by 14.9% in November 2019
26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
The EGX100 index shed 0.56%
24 January 07:09 PM EGX’s indices fall in week; Turnover records EGP 10.4bn
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices declined during the week ended 23 January 2020, with market capitalisation lost EGP 4.4 billion. The benchmark index, EGX30, went down by 0.69% to 13,728 points, while the EGX70 index …
Good regulation prevents chaotic disruption
23 January 01:04 PM Middle East’s renewable energy targets face obstacles - GlobalData
Mubasher: The increasing dependence on solar and wind energy in the Middle East, led by Abu Dhabi, Dubai, and Saudi Arabia, has become remarkable, driven by governments’ ambitious renewable energy targets. However, the adoption of renewable energy …
EGX100 increased by 0.82%
22 January 04:58 PM EGX’s indices settle higher on Wednesday
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices grew at the end of Wednesday’s session, with market capitalisation gained EGP 3.7 billion to reach EGP 695.7 billion. The benchmark index, EGX30, rose by 0.82% to 13,752 points, while the …
The agreement was signed on the sidelines of the UK-Africa Investment Summit
21 January 11:01 AM Egypt’s sovereign fund inks MoU with Actis to help draw investments
Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) has signed a memorandum of understanding (MoU) with and the UK-based leading private equity firm Actis to explore potential investment opportunities in several sectors in the North African …
Market capitalisation gained EGP 1.7 billion
16 January 05:12 PM EGX’s indices end higher Thursday as investors await CBE take on interest
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices rose at the end of Thursday’s session, as investors anticipating the Central Bank of Egypt’s (CBE) decision on interest rates. The benchmark index, EGX30, grew by 0.4% to 13,824 points, while …
The EGX70 index added 0.6%
15 January 04:54 PM EGX’s indices settle higher on Wednesday
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices ended higher on Wednesday, with the benchmark EGX30 index inched up 0.09% to 13,769 points. The EGX70 index added 0.6% to reach 533.23 points, while the EGX100 rose by 0.4% to stand at 1,383 …
FRA headquarters
15 January 04:41 PM Egypt’s FRA suspends three companies for 30 days
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has decided to suspend licences of three companies, according to a bourse statement released on Wednesday. The suspended companies included Ridge for Creation and Management of …
The EGX100 index rose by 0.61%
14 January 05:12 PM EGX gains EGP 2.4bn at Tuesday’s close
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices grew at the end of Tuesday’s session, with market capitalisation increased by EGP 2.4 billion to reach EGP 698.5 billion. The benchmark EGX30 index went up by 0.42% to 13,756 points, while …
Pioneers’ board approved FV studies conducted by Fincorp
14 January 04:47 PM Pioneers Holding denies impact of Fincorp suspension on acquisition deal
Cairo – Mubasher: Pioneers Holding Company for Financial Investment has announced that its offer to acquire 90% of five subsidiaries will not be affected by the suspension of the financial advisor Fincorp by the Financial Regulatory Authority …
The market’s turnover stood at EGP 227.45 million
13 January 04:29 PM EGX30 slips below 13,700 pts at Monday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session on a varied note amid local purchases and foreign sell-offs. The main EGX30 index fell by 0.75%, ending the session at 13,698 points, pressured by the decline in several …
Around 27 million job opportunities should be available in 30 years
12 January 05:05 PM Egypt’s population expected to reach 191.3m in 3 decades – CAPMAS
Cairo – Mubasher: The Egyptian population is expected to increase to 191.3 million by 2052, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). This population is forecast be based on the current delivery rates of 3.4 …
Market cap gained EGP 3.6 billion to close at EGP 699.6 billion
12 January 04:20 PM EGX30 breaks 13,800 pts at Sunday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session on a positive note, with the benchmark EGX30 index rising by 0.53% to 13,802 points. The heavyweight Commercial International Bank (CIB) added 0.38% to EGP 84.01, after …
The Ministry of Economy delegation visiting DMCC
12 January 12:06 PM DMCC plays vital role in diamonds, precious metals trade in Dubai
UAE – Mubasher: DMCC has recently hosted the UAE’s minister of economy, Sultan Bin Saeed Al Mansouri, to sum up the entity's role in streamlining, boosting, and driving global trade through Dubai. The minister toured Almas Tower and visited both …
EGX30 went down by 1.22%
10 January 10:34 PM Geopolitics weighs on EGX’s indices in week
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices declined in the first week of January, following a negative trend hit regional markets as the new year began with geopolitical tensions. The benchmark index, EGX30, went down by 1.22% to …
An EGM will be held to consider the decision
9 January 04:35 PM International Dry Ice’s board approves optional delisting
Cairo – Mubasher: International Dry Ice’s board has approved a request for the optional delisting of the company’s shares from the Egyptian Exchange (EGX). An extraordinary general meeting (EGM) is set to be held to consider the delisting …
The CPI in Egypt recorded 104.4 points in December
9 January 01:37 PM Egypt's annual core inflation falls to 6.8% in December
Cairo – Mubasher: Egypt's annual core inflation declined to 6.8% in December 2019, compared to 11.1% in the same period in 2018, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The general consumer price index …
The less predictable global environment may reduce investor confidence
9 January 11:25 AM Levant, North Africa sovereigns' 2020 outlook negative – Moody’s
Mubasher: Moody's Investors Service highlighted that the negative outlook previously placed for sovereigns in the Levant and North Africa region in 2020 is a result of political and social tensions due to a slowing pace of reform and limited scope …
head of ITDA, Ibrahim Ashmawy
7 January 10:39 PM Trading on Egypt’s new commodities exchange to start by year-end
By: Mohammad Mowafy Cairo – Mubasher: The first trading transaction of strategic commodities on the Egyptian Commodities Exchange (EGYCOMEX) is expected to take place by the end of 2020, head of The Egyptian Internal Trade Development Authority …
Bahrain launched Cloud First Policy in 2017
7 January 03:58 PM Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
By: Ingy ElSafy & Moslem Ali Mubasher: Startup Bahrain is a national initiative launched in 2016 for the purpose of facilitating all tools required for small business to build and establish themselves while growing into international and regional …
Tanker Forward Freight Agreement (FFA) volumes increased by 38% YoY in 2019
7 January 01:35 PM Volatility boosts freight derivative volumes in 2019
UAE – Mubasher: Freight derivatives markets showed higher traded volumes in 2019 for both tankers and dry cargo vessels, data by the Baltic Exchange showed.  Tanker Forward Freight Agreement (FFA) volumes increased by 38% year-on-year (YoY) to …
The Egyptian Minister of Petroleum Tarek El-Molla
6 January 06:30 PM EGYPS 2020 to tackle regional energy challenges
Cairo – Mubasher: Egypt Petroleum Show (EGYPS 2020) is set to be held at the Egypt International Exhibition Center (EIEC) in New Cairo on 11-13 February 2020. The fourth edition of the largest oil and gas conference and exhibition in Egypt, North …
EGX 30 lost 0.53% and closed at 13,212 points
6 January 04:38 PM EGX closes Monday in losses; market cap down EGP 5.3bn
Cairo – Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session in the red zone, as the benchmark index EGX 30 levelled down by 0.53% and closed at 13,212 points. Small and medium enterprises index EGX 70 lost 1.54% and closed at 503 …