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The company's revenues surged by 45.01% in 2019
26 March 03:45 PM Fawry's net profits surge 88% in 2019
Cairo – Mubasher: The consolidated financial statements of Fawry for Banking Technology and Electronic Payments showed an 88.35% year-on-year (YoY) increase in net profits for 2019. The net profits amounted to EGP 130.38 million last year, …
The company's profits reached $131.1 million in 2019
26 March 01:37 PM Orascom Construction sees 15.2% lower consolidated profits; dividends proposed
Mubasher: The consolidated financial results for 2019 of Orascom Construction PLC, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), reported a 15.2% year-on-year (YoY) drop in net profits. The company's net profits reached $131.1 million in …
The deal was made over 17.018 million shares
25 March 04:07 PM Orascom Development carries EGP 40.5 million large-scale deal
Cairo – Mubasher: A special deal worth EGP 40.5 million was executed through the large-scale transactions mechanism on the shares of Orascom Development Egypt, the Egyptian Exchange (EGX) announced on Wednesday. The deal was made over 17.018 …
The fund has purchased 12,015 shares in Orascom Construction
25 March 01:35 PM Fund raises stake in Orascom Construction to 8.6%
Mubasher: Sustainable Capital Africa Alpha Fund has raised its ownership in Orascom Construction, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), from 7.61% to 8.61%. The fund has purchased 12,015 shares at a price of EGP 55 per share, …
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 12:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
ABB Power will provide Toshka 2 substation with high-voltage gas-insulated switchgear (GIS)
24 March 02:37 PM Elsewedy, ABB sign contract for grid expansion at Toshka substation
Cairo – Mubasher: Elsewedy Electric Company and ABB Group have inked a partnership to ensure efficient electricity supply in the strategic expansion of Egypt's Toshka 2 substation. Under the partnership, ABB Power Grids will provide the second …
The distribution will be paid through two tranches
24 March 01:01 PM Arab Moltaqa approves FY19 dividends
Cairo – Mubasher: The ordinary and extraordinary general meeting of Arab Moltaqa Investments approved the proposed cash dividend of EGP 60 million to shareholders for the fiscal year (FY) 2019. The dividends will be distributed at EGP 2 per share, …
The company has purchased 20.62 million shares in Egyptians for Housing
23 March 05:19 PM New Smart Investments acquires 18% stake in Egyptians for Housing
Cairo - Mubasher: New Smart Investments Industrial and Commercial Company has acquired an 18.17% stake in Egyptians for Housing and Development. The company has purchased 20.62 million shares in Egyptians for Housing and Development for a total …
Shareholders approved a total of EGP 426.76 million in cash dividends
23 March 03:54 PM Telecom Egypt approves EGP 427m dividends for 2019
Cairo – Mubasher: The ordinary general meeting (OGM) of Telecom Egypt (WE) has approved to pay a cash coupon of EGP 0.25 per share for 2019. During the meeting, shareholders have approved a total EGP 426.76 million in cash dividends for 2019, …
The new decision will support the company’s operation once the travel halt is lifted
23 March 09:37 AM Jazeera Airways cancels 2019 dividends amid COVID-19 uncertainties
Mubasher: The board of Jazeera Airways has cancelled the proposed cash dividends distribution and recommended not to distribute any dividends for the fiscal year (FY) ended on 31 December 2019 in an attempt to curb the fallout from the coronavirus …
The company's revenues reached EGP 40 million in 2019
22 March 05:01 PM ALICO sees EGP 5m net profits in 2019
Cairo – Mubasher: Arab Real Estate Investment Company (ALICO) reported a 25.3% year-on-year (YoY) drop in profits to EGP 5.13 million in 2019 from EGP 6.98 million in 2018, according to the company's financial results for 2019. The company's …
Rate on floating certificates of deposits was cut to 10.5%
22 March 03:56 PM Banque du Caire maintains certificates interest rates unchanged
By: Islam Fadl Cairo – Mubasher: The asset-liability committee (ALCO) of Banque du Caire decided to keep the rate of return on the fixed-rate certificates of deposits unchanged despite the Central Bank of Egypt’s (CBE) recent decision to …
Amin Nasser, President and CEO of Aramco - (Photo Archive)
22 March 01:08 PM Aramco closely monitoring coronavirus situation – CEO
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is closely monitoring the situation of the coronavirus (COVID 19) outbreak on a daily basis, Saudi Press Agency (SPA) reported. Aramco has developed emergency and prevention plans …
A total of 200 million new shares will be issued and distributed as bonus shares
22 March 01:07 PM CI Capital shareholders approve capital hike to EGP 1bn
Cairo – Mubasher: The shareholders of CI Capital Holding For Financial Investments have approved raising the issued and paid-up capital by EGP 200 million from EGP 800 million to EGP 1 billion. The capital increase is distributed over 200 million …
The cash dividends stand at 60 piastres per share
22 March 11:42 AM Nozha Hospital's OGM approves 10% dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Nozha International Hospital has approved distributing cash dividends for 2019, worth 10% of the share's nominal value, at EGP 0.6 per share. The dividends stand at a total of EGP 6.75 …
Company's gas sale contracts not affected by fluctuating oil prices
22 March 09:56 AM Dana Gas operations remain stable despite COVID-19
Abu Dhabi - Mubasher: Dana Gas has confirmed that the coronavirus (COVID-19) outbreak has not impacted its exploration and production operations and facilities in the Kurdistan Region of Iraq (KRI) and Egypt.   Sold under long term gas sale …
The Egyptian government lowered energy prices for factories
19 March 04:19 PM Egypt Aluminum expects drop in production costs
Cairo – Mubasher: Egypt Aluminum announced that the government’s decision to reduce energy prices for factories will cut down the company’s production costs. The company consumes 5 billion kilowatts (kW) of electricity and 30 million cubic metres …
SAIB will distribute dividends of $7.5 million for 2019
19 March 03:33 PM SAIB shareholders approve $7.5m dividends
Cairo – Mubasher: The shareholders of Societe Arabe Internationale de Banque (SAIB) have approved paying out cash dividends at a total value of $7.5 million for last year. During the ordinary general meeting (OGM), SAIB’s shareholders have also …
The company plans to generate EGP 3.074 billion in revenue
19 March 02:18 PM Heliopolis Housing eyes EGP 1.2bn profit in FY20/21
Cairo – Mubasher: The board of directors of Heliopolis Company for Housing and Development (HHD) approved the budget for fiscal year 2020/2021. According to the planned budget, the company aims to achieve net profits of EGP 1.2 billion for the …
The company’s sales increased to EGP 2.66 billion
19 March 12:44 PM Domty logs EGP 156m in 2019; dividends proposed
Cairo – Mubasher: Arabian Food Industries Co (Domty) reported a slight increase in its net profits, according to the consolidated financial statements. Domty’ net profits edged up to EGP 156.16 million last year from EGP 154.6 million in 2018, …
Each tonne of end products requires 11 MMBtu of natural gas
19 March 12:29 PM Lower energy prices to cut down production costs – Ezz Steel
Cairo – Mubasher: Ezz Steel announced that the government’s decision to cut energy costs will lower the company’s production costs. Each tonne of end products requires 11 million British thermal units (MMBtu) of natural gas, the steel manufacturer …
The company’s net profits plummeted to EGP 13.8 million in 2019
19 March 11:21 AM Ataqa expected to see lower production costs
Cairo – Mubasher: Misr National Steel (Ataqa) announced that the government’s decision to reduce energy prices to the industrial sector will cut down production costs by EGP 30 per tonne, according to a bourse disclosure on Thursday. The …
EFG Hermes reported net profits of EGP 1.4 billion in 2019
19 March 10:52 AM Research firm sets EFG Hermes' FV at EGP 23.4/shr
Cairo – Mubasher: The research unit of Pharos Holding has set the fair value of the Egyptian Financial Group Hermes Holding (EFG Hermes) at EGP 23.4 per share, placing a ‘buy’ recommendation on the stock.   The evaluation is backed by the …
Aramco enjoys the lowest oil production cost per barrel in the world
18 March 06:34 PM KSA orders Aramco to set output at 12.3m b/d
Riyadh – Mubasher: The Saudi Ministry of Energy has directed the Saudi Arabian Oil Company (Saudi Aramco) to continue to supply crude oil at a level of 12.3 million barrels per day (b/d) over the coming months, Saudi Press Agency (SPA) reported. …
The sale involved 20.62 million shares
18 March 05:39 PM Yamir Equities sells stake in Egyptians for Housing for EGP 79.6m
Cairo – Mubasher: Yamir Equities Inc has sold its entire stake of 18.17% in Egyptians for Housing and Development Company. The sale involved 20.62 million shares, representing 18.17% of the company’s capital, according to a bourse statement on …