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12:15 PM Palm Hills closes seventh securitisation bond issuance worth EGP 1.05bn
Cairo – Mubasher: Palm Hills Developments (PHD) has completed its seventh securitisation bond issuance backed by a receivables portfolio of around EGP 1.05 billion, in cooperation with Sarwa Capital, a subsidiary of Contact Financial Holding. …
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11:20 AM Spain's investments in Egypt hit $24m in Q1-20/21
Cairo - Mubasher: Spain's investments in Egypt amounted to $24.3 million in the first quarter (Q1) of fiscal year 2020/2021, up 12.5% from $21.6 million in the same quarter of 2020. The trade exchange between Egypt and Spain reached $2.1 billion …
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1 December 06:59 PM EGX approves Odin Investments’ capital reduction on stock split
Cairo – Mubasher: The Egyptian Exchange’s (EGX) Listing Committee gave its green light for reducing Odin Investments’ capital to EGP 101.92 million from EGP 260 million. The capital decrease comes in line with splitting the par-value stock to EGP …
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1 December 02:02 PM Egypt-Spain trade exchange nears EUR 2bn in 9M
Cairo – Mubasher: The trade exchange between Egypt and Spain increased by 23.8% to EUR 1.96 billion during the first nine months (9M) of 2021 from EUR 1.58 billion in 9M-20, Egypt’s Minister of Trade and Industry, Nevin Gamea, stated. Spain has …
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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
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30 November 03:10 PM No cases of Omicron variant detected in Egypt – Official
Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …
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29 November 03:48 PM Egypt imports $61bn goods in 9M; Chinese products top list
Cairo – Mubasher: Egypt has imported goods and products at a total value of $61 billion during the first nine months (9M) of 2021, an increase of 16% from $52.4 billion in the same period last year. China came on top of the countries Egypt has …
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29 November 10:44 AM CBE offers EGP 9.5bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday EGP 9.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. With a two-year maturity period, the first tranche …
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28 November 07:14 PM Egypt’s exports increase 40% in 9M
Cairo – Mubasher: Egypt has exported goods worth a total of $29.7 billion during the first nine months of 2021. This marked an annual surge of 40% from $21.2 billion in the corresponding period a year ago, according to the Central Agency for …
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28 November 04:32 PM Egypt receives 4m doses of Pfizer vaccine; COVID-19 cases near 1,000 mark
Cairo – Mubasher: Egypt has received 3.89 million doses of Pfizer vaccine against COVID-19 on 27 November, in a bid to diversify and expand the shots available for the citizens, according to an official statement. The jabs were sent under Gavi …
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28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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28 November 11:34 AM Egypt auctions EGP 17.5bn T-bills on Sunday
Cairo – Mubasher: Egypt will offer treasury bills (T-bills) worth EGP 17.5 billion over two tranches on Sunday, 28 November, according to official data. The first issue amounts to EGP 3.5 billion, holding a 91-day maturity period until 1 March …
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25 November 05:56 PM Egypt’s extractive industries index up 2% in September – CAPMAS
Cairo – Mubasher: Egypt’s manufacturing and extractive industries index went up 2.2% to record a reading of 116.05 in September from 113.56 in August, according to official data on Thursday. Food products industries index increased by 4.55% to …
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25 November 01:31 PM Bosch's unit signs contract to establish industrial complex in Egypt
Cairo – Mubasher: BSH Home Appliances Group, a subsidiary of Germany's Bosch, has inked a preliminary contract with Egypt's New Urban Communities Authority to purchase two plots of land to establish an industrial complex for home appliances …
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25 November 11:28 AM CBE offers EGP 18bn T-bills on Thursday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday EGP 18 billion treasury bills (T-bills), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche of the T-bills will be offered …
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24 November 03:54 PM Egypt's textile exports exceed $1bn in 9M
Cairo – Mubasher: Egypt's textile exports increased by 28% to $1.12 billion during the first nine months of 2021, compared to around $872 million in the year-ago period, the Middle East News Agency (MENA) reported. Higher exports are driven by the …
Minister of Planning and Economic Development, Hala El-Saeed
24 November 02:50 PM Egypt's economy records 9.8% growth rate in Q1-21/22
Cairo - Mubasher: Egypt has achieved an economic growth rate of 9.8% during the first quarter (Q1) of fiscal year 2021/2022, compared to 0.7% in the year-ago period, the Egyptian Minister of Planning and Economic Development, Hala El-Saeed, said. …
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24 November 01:06 PM Egypt's MSMEDA injects EGP 106m in small, micro enterprises
Cairo – Mubasher: Egypt's Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has invested EGP 106 million in implementing around 3,705 small and micro enterprises. These projects have provided more than 7,000 job opportunities in …
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23 November 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report
Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …
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23 November 01:03 PM El-Mashat says development partners provide Egypt with $720m funding
Cairo – Mubasher: The Asian Infrastructure Investment Bank (AIIB) and the World Bank have earmarked a total of $720 million for Egypt’s development policies, Minister of International Cooperation, Rania El-Mashat, announced. The executive …
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23 November 12:55 PM Egypt records 32% higher exports to COMESA in 9M
Cairo - Mubasher: Egypt's exports to the Common Market for Eastern and Southern Africa (COMESA) amounted to $2.3 billion during the first nine months of 2021, up 32.4% year-on-year (YoY) from $1.7 billion. Egypt has recorded $901 million imports …
Minister of Planning and Economic Development, Hala El-Saeed
23 November 12:11 PM Egypt's economy expected to see 5.6% rebound in 2021-22
Cairo - Mubasher: Egypt's economic growth is projected to rebound to 5.6% during fiscal year 2021/2022 despite the coronavirus (COVID-19) economic repercussions, the Egyptian Minister of Planning and Economic Development, Hala El-Saeed, announced. …
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22 November 04:01 PM Egypt's LNG exports hike 900% YoY in Q3-21
Cairo - Mubasher: Egypt has recorded a surge in liquified natural gas (LNG) exports by 1 million tonnes or around 900% year-on-year (YoY) during the third quarter (Q3) of 2021, marking the highest growth rates across the world, …
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22 November 02:51 PM PepsiCo launches first greenhouse accelerator programme in MENA
Mubasher: PepsiCo has introduced its greenhouse accelerator programme in MENA to boost innovation and sustainability through collaboration with the region's startups. The programme was launched in partnership with the UAE Ministry of Climate …
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22 November 10:56 AM CBE issues EGP 11.5bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offers on Monday EGP 11.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche will be issued through three-year …