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Revenues grew to EGP 77.16 million in the January-June period
5 hours ago Egyptian Resorts Co turns profitable in H1-20
Cairo – Mubasher: The Egyptian Resorts Co turned to net profits of EGP 23.64 million during the first half (H1) of 2020, versus net losses of EGP 12.83 million in the year-ago period, including minority shareholders’ rights. Revenues grew to EGP …
October 6th University
04:30 PM Suez Canal Technology requests EGP 250m refund from Misr Insurance
Cairo – Mubasher: Suez Canal Company for Technology Settling requested a refund of EGP 250 million paid by its 99.68%-owned October 6th University in 2017 and 2018 to Misr Insurance Company. The payments were part of an invalid agreement signed …
About 48.3 million shares were sold at SAR 30 riyals on Sunday.
03:12 PM Credit Agricole sells final stake in Banque Saudi Fransi for $386m
Riyadh – Mubasher: Credit Agricole sold on Sunday the final portion of its stake in Banque Saudi Fransi (BSF), bringing to an end the French lender’s decades long investment in one of the largest Saudi corporate banks, Bloomberg reported citing a …
Shareholders will receive EGP 0.144 a share
02:21 PM Cairo Investment’s shareholders approve EGP 84m dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Cairo for Investment and Real Estate Development (CIRA) approved a cash dividend distribution of EGP 84 million. Shareholders will receive EGP 0.144 a share to be financed from the retained …
The net distributable profit reached EGP 5.28 billion
12:36 PM Eastern Co's board proposes EGP 1.4/shr dividend for FY19/20
Cairo – Mubasher: The board of Eastern Co recommended a cash dividend distribution of EGP 1.40 per share for fiscal year 2019/2020. The proposal has been referred to the company’s shareholders for approval, the tobacco manufacturer said in a …
Revenues slid to EGP 386.87 million in the January-June period
12:26 PM ASCOM turns to loss in H1-20
Cairo – Mubasher: Asec Company for Mining (ASCOM) turned to net losses of EGP 58.14 million during the first half (H1) of 2020, against net profits of EGP 2.04 million in the year-ago period, including minority shareholders’ rights. Revenues slid …
Qalaa Holdings controls ERC and owns an indirect stake of 13.1%.
11:38 AM Qalaa Holdings reviews economic impact of Mostorod refinery
Cairo – Mubasher: Qalaa Holdings reviewed the impact of its subsidiary Egyptian Refining Company’s (ERC) refinery in Mostorod on economy and environment. The $4.3 billion Mostorod refinery, inaugurated by the President Abdel Fattah El-Sisi on …
The steel manufacturer generated EGP 15.29 billion in sales
11:04 AM Al Ezz Dekheila Steel's loss balloons 83% in H1-20
Cairo – Mubasher: The net losses of Al Ezz Dekheila Steel – Alexandria widened by 83% year-on-year (YoY) to EGP 2.303 billion during the first half (H1) of 2020, compared to EGP 1.25 billion, including minority shareholders’ rights. The steel …
The company studies listing one financial company only on the EGX
27 September 04:51 PM OIH mulls investment options after demerger
Cairo – Mubasher: Orascom Investment Holding (OIH) said that the demerged and demerging companies are considering all available investment options. The options include investing in the United Bank of Egypt, making Ora Developers under the umbrella …
A total of 40 tonnes of high-grade blue ammonia were dispatched to Japan
27 September 02:15 PM Saudi Aramco, Japan’s IEEJ ship world’s first blue ammonia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and Japan’s Institute of Energy Economics(IEEJ), in partnership with the Saudi Basic Industries Corporation (SABIC), demonstrated the production and shipment of blue ammonia from …
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 …
Abu Qir Fertilizers achieved net profits of EGP 2.69 billion
27 September 01:33 PM Abu Qir Fertilizers' shareholders approve dividend for FY19/20
Cairo – Mubasher: The ordinary general meeting (OGM) of Abu Qir Fertilizers approved a cash dividend distribution of EGP 1.20 per share for fiscal year 2019/2020. The dividends will be distributed over two payments: EGP 0.30 a share on 22 October …
The increased facilities will finance the company’s working capital when needed
27 September 11:56 AM NBE approves EGP 250m new credit facilities to Ibnsina Pharma
Cairo – Mubasher: The National Bank of Egypt (CBE) approved a EGP 250 million increase in the short-term credit facilities provided to Ibnsina Pharma. The increased facilities will finance the company’s working capital when needed, according to a …
The company logged net profits of EGP 2.69 billion in FY19/20
24 September 03:52 PM Abu Qir Fertilizers to implement carbon footprint reduction programme
Cairo – Mubasher: The board of Abu Qir Fertilizers decided to take steps towards implementing the carbon dioxide emissions reduction project and increasing the output capacity of Abu Qir Urea Plant (3). The production capacity of the plant is …
Arab Cotton Ginning will be added as a new shareholder in the company
24 September 12:30 PM Arab Cotton Ginning to contribute to Modern Nile Cotton’s capital raise
Cairo – Mubasher: The board of Arab Cotton Ginning approved an increase of EGP 100 million in the capital of Modern Nile Cotton Co, a wholly-owned subsidiary of Amwal Al Arabia for Cotton Company. Arab Cotton Ginning will contribute EGP 70 million …
The tobacco manufacturer achieved revenues of EGP 14.46 billion
24 September 11:41 AM Eastern Co logs EGP 3.8bn profit in FY19/20 initial results
Cairo – Mubasher: The unaudited financial statements of Eastern Co. showed net profits of EGP 3.794 billion during fiscal year 2019/2020, slightly up from EGP 3.733 billion a year earlier. The tobacco manufacturer achieved revenues of EGP 14.46 …
The company generated EGP 1.76 billion in sales
23 September 05:50 PM Extracted Oils reports 18% lower profits in FY19/20
Cairo – Mubasher: The modified unaudited financial results of Extracted Oils & Derivatives Company showed an 18.2% year-on-year (YoY) drop in its net profits, logging EGP 18.88 million during fiscal year 2019/2020, compared to EGP 23.07 million. …
The Sukuk will be offered for 57 months
23 September 05:39 PM EFG Hermes lists Ijara Sukuk on EGX
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee announced the listing of Ijara Sukuk issued by EFG Hermes Securitization Company. The Ijara Sukuk is compliant with Islamic Sharia, tradable, and non-convertible, according to a …
The company’s standalone net profits reached EGP 133.33 million
23 September 01:55 PM Upper Egypt Mills proposes EGP 10/shr dividend for FY19/20
Cairo – Mubasher: The board of Upper Egypt Flour Mills recommended a cash dividend distribution of EGP 70 million or EGP 10 per share for fiscal year 2019/2020. The proposal will be referred to the company’s shareholders for approval, according to …
The deal will add three new branches of Speed labs in Alexandria
23 September 01:25 PM Speed Medical inks deal to manage Madina Group’s labs in Alexandria
Cairo – Mubasher: Speed Medical Company signed a cooperation agreement with Al Madina Fertility Medicine Company and Madina Group in Alexandria. Under the deal, all medical labs owned by Madina Group, including Madina Hospital for Women, will be …
GB Auto achieved net profits of EGP 363.02 million in six months
23 September 11:09 AM GB Auto's unit gets approval to provide consumer financing services
Cairo – Mubasher: Ghabbour Auto (GB Auto) announced that its subsidiary Drive Finance has obtained preliminary approval from the Egyptian Financial Regulatory Authority (FRA) to provide consumer financing services, along with auto loans. This move …
The cement producer is looking to generate EGP 2.5 billion in sales
22 September 06:01 PM Arabian Cement Co expects EGP 50m losses by 2020-end
Cairo – Mubasher: Arabian Cement Co expects EGP 50 million in losses by the end of 2020 if the current challenges facing the sector are not addressed. In addition, the cement producer is looking to generate EGP 2.5 billion in sales by the end of …
Amer Group Holding Co achieved net profits of EGP 27.608 million in six months
22 September 01:58 PM Amer Group cancels plan to build project in New Sohag City
Cairo – Mubasher: Amer Group Holding Co cancelled a plan to purchase a land plot in New Sohag City for building an urban project. The company took its decision after conducting financial and marketing studies to consider the feasibility of the …
The share’s nominal value will stand at EGP 0.25
22 September 12:10 PM Egyptians for Housing's shareholders approve stock split
Cairo – Mubasher: The extraordinary general meeting (EGM) of Egyptians for Housing and Development Co approved a stock-split in the ratio of eight for one. The share’s nominal value will stand at EGP 0.25 instead of EGP 2, according to a bourse …
Two new non-executive directors were appointed
22 September 11:40 AM CI Capital Holding expands board of directors
Cairo – Mubasher: The ordinary general meeting (OGM) of CI Capital Holding For Financial Investments approved the appointment of two non-executive directors, increasing the number of board members to 11. The OGM appointed Ahmed Mohamed Sobhy as a …