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The webinar discussed the Road to Digital Transformation and Innovation
26 minutes ago Industry leaders discuss the future of digital transformation
By: Moslem Ali Cairo – Mubasher: The British Egyptian Business Association (BEBA) organized a webinar on Tuesday discussing “The Road to Digital Transformation and Innovation” to discuss the rising importance of digital transformation, especially …
The ongoing projects are distributed over 130 villages
1 hour ago Egypt's second phase of village development project 87% complete
Cairo – Mubasher: The Egyptian Minster of Local Development, Mahmoud Shaarawy, said that ongoing projects under the second phase of the national project of village development are 87% complete. The ongoing projects are distributed over 130 …
The offering attracted $3.7 billion worth of bids for the bonds
2 hours ago Egypt sells $750m green bonds at 5.25% yield
Cairo – Mubasher: Egypt’s Ministry of Finance sold $750 million in five-year green bonds at a yield of 5.250% on Tuesday as the first sovereign offering of green bonds in the MENA region. The issuance was 7.4 times oversubscribed than the initial …
The Late Sheikh Sabah Al Ahmad Al Jaber Al Sabah
29 September 07:44 PM Emir of Kuwait passes away aged 91 years
Mubasher: The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Jaber Al Sabah has passed away on Tuesday, at 91 years of age. The late Emir has ruled Kuwait since 2006, before that he was the Minister of Foreign Affairs for around four decades. "With …
Pensions can be disbursed from 10,000 ATMs
29 September 04:40 PM Egypt disburses EGP 25bn in pensions, second batch of overdue bonuses
Cairo – Mubasher:  A total of 2.4 million pensioners will begin receiving the second batch of the five overdue bonuses starting from Thursday, 1 October, the Middle East News Agency (MENA) reported on Tuesday, citing the Chairman of the National …
Egyptian exports to Belarus retreated to $13.9 million
29 September 03:29 PM Egypt-Belarus trade exchange hits $45.7m in H1
Cairo – Mubasher: Bilateral trade between Egypt and Belarus reached $45.75 million during the first half (H1) of 2020, the Middle East News Agency (MENA) reported on Tuesday, citing the Belarusian Ambassador to Egypt, Sergei Terentyev, as saying. …
The finance ministry aims to replace 5 million payroll cards with Meeza cards
29 September 02:11 PM Egypt to replace 28K gov’t payroll cards with Meeza in October
Cairo – Mubasher: Egypt will issue 28,000 national e-payment Meeza cards for state employees to receive their salaries in October, the Minister of Finance, Mohamed Maait, said. Meeza cards can be used for cash withdrawals from ATMs, online …
Egypt has portfolio of eligible green projects worth $1.9 billion
29 September 01:05 PM Egypt markets five-year dollar green bonds
Cairo – Mubasher: Egypt began marketing the MENA’s first sovereign green bonds at about 5.75%, Reuters reported on Tuesday, citing a document. The value of the five-year US dollar bonds is expected to be at least $500 million. Proceeds from the …
The gold pound is priced at EGP 6,504
28 September 05:58 PM Gold prices in Egypt continue to drop
Cairo – Mubasher: Gold prices continued to decline in the Egyptian market on Monday, pressured by lower global prices of the precious metal, Ehab Wassef, Deputy Head of the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC), …
FRA raised the limit of mortgage finance granted to each investor
28 September 01:38 PM FRA reveals EGP 2.38bn mortgage finance companies operating in Egypt
Cairo – Mubasher: The number of mortgage finance and refinance companies in Egypt reached 14 firms with a total issued capital of EGP 2.384 billion at the end of the second quarter (Q2) of 2020, the Chairman of the Financial Regulatory Authority …
The issuance will be used to finance the country’s budget deficit
28 September 10:50 AM CBE offers EGP 8bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 8 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds is valued at EGP 4 billion and will be offered through …
The project has been established with investments of $4.3 billion
27 September 05:57 PM Egypt spends EGP 1.2trn on petroleum projects – El-Sisi
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi said that the country has spent EGP 1.2 trillion on petroleum projects in the last period.   El-Sisi expressed his appreciation for the efforts made by Qalaa Holdings in setting up the …
The economic reform programme led to decreasing the consumption this year
27 September 04:00 PM Egypt saves EGP 185bn from lower gasoline consumption
Cairo – Mubasher: The Egyptian Minister of Petroleum, Tarek El-Molla, said that gasoline consumption in the country reached 7.5 million tonnes annually in 2016. With the consumption rate of 7%, the gasoline consumption would have reached 12 …
The project has an annual output capacity of 4.7 million tonnes
27 September 02:10 PM Egypt's Mostorod complex to cut imports by up to $1bn annually
Cairo – Mubasher: Egypt’s new Mostorod hydrocracking complex is expected to cut petroleum imports from $600 million to $1 billion annually, Chairman of Qalaa Holdings, Ahmed Heikal, said. The Egyptian Refining Company’s (ERC) project was …
Egypt’s portfolio of eligible green projects is valued at $1.9 billion
27 September 01:05 PM Egypt set to issue MENA's first gov't green bonds
Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, announced the completion of the framework of government green bonds, set to be the first of its kind in the MENA region. Offering sovereign green bonds in the international markets …
The project has an annual output capacity of 4.7 million tonnes
27 September 12:13 PM El-Sisi inaugurates $4.3bn Mostorod petroleum refining complex
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi on Sunday inaugurated several national projects, including Mostorod petroleum refining complex in Qalyubia. The Mostorod hydrocracking complex has been established in collaboration with …
A total of 153 companies received EGP 1.8 billion of their overdue subsidies
27 September 11:45 AM Egypt launches initiative for immediate disbursement of export subsidy arrears
Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, announced the launch of a new initiative for the immediate disbursement of overdue export subsidies within the next days until the end of September. Subsidies will be paid in a …
The new port will have a capacity to handle 1.5 million containers
27 September 11:23 AM Alexandria's new multi-purpose terminal to be operational early 2022
Cairo – Mubasher: Egypt’s Minister of Transport, Kamel El-Wazir, expected that the new multi-purpose terminal in the port of Alexandria would be operational by early 2022 as the progress rate reached 27.7%. The estimated EGP 7 billion project will …
The CBE cut key interest rates by 0.5%.
27 September 10:56 AM CBE announces new T-bills offering after rate cut
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 18 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills is offered through 91-day notes worth EGP 8 billion, while …
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27 September 10:27 AM Global Artificial Intelligence Summit to kick off next October
Riyadh – Mubasher: The Saudi Data and Artificial Intelligence Authority (SDAIA) will organise the Global Artificial Intelligence Summit (GAIS) on 21-22 October 2020, state-run Saudi Press Agency (SPA) reported on Sunday. Under the theme, “AI FOR …
President Abdel Fattah El-Sisi
24 September 05:55 PM El-Sisi approves CBE, banking sector law
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi has approved the law no. 194 of 2020, which regulates the work of the banking sector and the Central Bank of Egypt (CBE), according to the Middle East News Agency (MENA). The new law …
The price of 21-karat gold registered EGP 816 per gram
24 September 04:50 PM Egypt’s gold prices fall EGP 10/gram on Thursday
Cairo – Mubasher: Gold prices in Egypt slid by EGP 7-10 per gram on Thursday as global prices continued to decrease, Ehab Wassef, a member of the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC), said. The price of …
About 1.4 million people have submitted reconciliation requests
24 September 04:23 PM Egypt extends payment period of building violation reconciliation fees
Cairo – Mubasher: The Egyptian Prime Minister, Mostafa Madbouly, announced an extension of the period for paying building violation reconciliation fees for a month until the end of October.  About 1.4 million people have submitted requests for …
The agreement was signed in Cairo on 5 February
24 September 01:52 PM El-Sisi approves railway upgrade cooperation deal with EIB
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued the presidential decree no. 144 of 2020, approving a cooperation agreement between the Egyptian National Railways (ENR) and the European Investment Bank (EIB), the Middle East …