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4 hours ago Egypt reportedly to operate EGP 1.7bn new fuel transportation pipeline
Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources plans to operate a new transportation pipeline for petroleum products on the Mediterranean coast, according to Al Arabiya Business. The new pipeline will link the MIDOR oil …
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09:22 AM CBE offers EGP 50bn T-bills end-week
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 50 billion through two equal auctions on Thursday, 23 May 2024. The first tranche will mature in 182 days on 26 November this year, while the …
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22 May 03:23 PM Maait announces EGP 500m additional financing for special funds employees’ salaries
Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, has directed the disbursement of EGP 500 million as additional financing for the timely payment of salaries of employees at special funds and accounts across governorates, …
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22 May 09:57 AM Central Bank of Egypt withdraws EGP 872.5bn liquidity from 31 banks
Cairo – Mubasher: The Central Bank of Egypt (CBE) has withdrawn EGP 872.55 billion in liquidity from Egyptian banks in a fixed-rate deposits offering on Tuesday. The CBE accepted 31 bids at an average yield of 27.75%, according to the bank’s …
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21 May 10:18 AM Valu concludes EGP 617m bond issuance
Cairo – Mubasher: Leading fintech platform Valu has closed its ninth securitised bond issuance at an amount of EGP 616.75 million, according to a press release. The issuance is part of the approved extended securitization programme worth EGP 9 …
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20 May 05:10 PM Civil aviation contributes $53bn to Saudi economy – GACA
Riyadh – Mubasher: Saudi Arabia’s civil aviation sector is contributing $53 billion to the kingdom's economy, according to a report by the General Authority of Civil Aviation (GACA). The contribution of the sector to the Saudi economy includes …
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20 May 08:39 AM CBE issues two-type T-bonds worth EGP 9bn on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 4 billion through one issue on Monday, 20 May 2024. The tranche will mature in three years on 7 May 2027, according to official data. The CBE also …
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19 May 11:54 AM Egypt negotiates $1.2bn climate financing from IMF
Cairo – Mubasher: The Egyptian Ministry of Environment is in talks with the International Monetary Fund (IMF) for a $1.20 billion loan under the IMF's support package for Egypt. Minister Yasmine Fouad discussed the financing package with the IMF’s …
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19 May 10:13 AM Fitch Ratings upgrades outlooks on 4 major Egyptian banks to positive; ratings affirmed
Cairo – Mubasher: Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDRs) of the National Bank of Egypt (NBE), Banque Misr, Banque du Caire (BDC), and Commercial International Bank (CIB) from stable to positive. The …
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19 May 09:04 AM CBE auctions EGP 55bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion through two tranches on Sunday, 19 May 2024. Holding a tenor of 91 days until 20 August this year, the first issue was valued …
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16 May 09:27 AM CBE issues T-bills worth EGP 45bn on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 45 billion through two issues on Thursday, 16 May 2024. The first tranche was valued at EGP 25 billion and will mature in 182 days on 19 …
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13 May 11:11 AM Banque du Caire secures $100m SME financing from IFC
Cairo – Mubasher: Banque du Caire has signed an agreement with the International Finance Corporation (IFC) for a $100 million loan. This agreement includes $50 million earmarked to bolster the development initiatives of small, medium, and …
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13 May 10:32 AM UAE tops global rankings in fibre-to-the-home penetration
UAE – Mubasher: The UAE has been named the global leader in fibre-to-the-home (FTTH) penetration for the eighth consecutive year. The country has achieved an FTTH penetration rate of 99.30%, according to a report by the FTTH Council. The report …
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13 May 09:14 AM CBE offers EGP 9.5bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a total value of EGP 3.50 billion through two issues on Monday, 13 May 2024. The first auction stood at EGP 3 billion and will mature in three years on 7 May …
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12 May 08:57 AM CBE unveils T-bills worth EGP 60bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at an aggregated value of EGP 60 billion through two tranches on Sunday, 12 May 2024. The first auction, which stood at EGP 30 billion, holds a tenor of 91 days …
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9 May 10:41 AM Egypt's non-oil private sector marks 41st consecutive month of contraction
Cairo – Mubasher: Egypt's non-oil private market continues its downturn in April 2024, accompanied by a significant easing of inflationary pressures. The S&P Global Egypt Purchasing Managers’ Index (PMI), which provides a snapshot of operating …
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9 May 09:55 AM Egypt’s annual headline inflation decelerates over 1% in April
Cairo – Mubasher: Egypt’s annual headline inflation rate declined by 1.30% to 31.80% in April 2024 from 33.10% in March. The shrinkage in the annual inflation is attributed to a 3.70% decline in grain and bread prices, and a 1.80% decrease in meat …
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9 May 09:08 AM CBE issues EGP 50bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 50 billion through two equal issues on Thursday, 9 May 2024. The first offering will mature in 182 days on 12 November this year, …
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8 May 04:22 PM Egypt to build int’l tourist port in New Ras El-Hekma
Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouly has approved building an international tourist port to accommodate tourist cruises and yachts in New Ras El-Hekma city. The Marine Transport and Logistics sector within the Ministry of …
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8 May 09:58 AM Egypt int’l reserves hit 4-year high in April 2024
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) rose by around $690 million to more than $41.05 billion at the end of April 2024 from $40.36 billion in March. The recent increase brought reserves to its …
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7 May 01:19 PM Egypt buys 1.8 tonnes of wheat from local farmers
Cairo – Mubasher: Egyptian farmers have supplied around 1.80 tonnes of wheat to the government since the start of the harvest season on 13 April 2024, said Ahmed Kamal, Assistant Minister of Supply and Internal Trade for Projects and Media. The …
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5 May 01:18 PM Egypt’s foreign currency reserves to soar $16.2bn in FY24/25 – Report
Cairo – Mubasher: Egypt’s international reserves are expected to surge by $16.20 billion during the fiscal year (FY) 2024/2025, according to a report by JPMorgan, an American multinational finance company. The report expected the country’s …
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5 May 10:07 AM Fitch Ratings upgrades Egypt’s outlook to stable, affirms IDR rating at 'B-'
Cairo - Mubasher: Fitch Ratings has revised the outlook on Egypt's long-term foreign-currency (LTFC) issuer default rating (IDR) from stable to positive. The rating agency affirmed Egypt’s IDR at 'B-', according to a press release. Fitch …
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2 May 11:54 AM Egyptian gov’t offers EGP 40bn investment opportunities to local, int’l investors
Cairo – Mubasher: The Egyptian government has offered 12 new investment opportunites in eights governorates to local and international with total target investments of more than EGP 40 billion. The offered projects are set to be located on 405 …
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2 May 10:13 AM Egypt’s foreign asset deficit hits 25-month low in March 2024
Cairo – Mubasher: Egypt’s foreign asset deficit plummeted around 70.61% month-on-month (MoM) to EGP 199.65 billion ($4.17 billion) in March 2024, its lowest level since February 2022, or nearly 25 months, after a $28.83 billion surge in foreign …