Stocks News

Mubasher: Abu Dhabi-based Gulf Capital has sold its stake in Egypt-listed Middle East Glass (MEG) to the majority shareholder of the business, MENA Glass Holdings Limited, according to a press release. Gulf Capital’s investment enabled Middle East …

Riyadh – Mubasher: STC Bank, formally known as stc pay and one of the leading digital innovators in the listed Saudi Telecom Company (stc) portfolio, is joining the 24 Fintech three-day event in Saudi Arabia as a Founding Partner. Being the newest …

Riyadh – Mubasher: Global payments solution provider Checkout.com unveiled it will be signing strategic partnership agreements with The Company for Cooperative Insurance (Tawuniya) during the 24 Fintech 2024 event which will launch in Saudi Arabia …

Cairo – Mubasher: Eastern Company achieved a 17% growth to EGP 11.46 billion in net profit before tax during fiscal year (FY) 2023/2024, which ended on 30 June 2024, compared to EGP 9.76 billion in FY22/23. Net revenues increased by 15% to EGP …

Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) posted consolidated net profits after tax valued at EGP 788.88 million in the first half (H1) of 2024, an annual hike from EGP 435.50 million. The sales hit EGP 3.98 billion in …

Cairo – Mubasher: Orascom Construction posted consolidated net profits after tax valued at $70.70 million in the first half (H1) of 2024, an annual drop of 46.80% from $132.90 million. Revenues reached $1.47 billion in H1-24, down 5.50% …

Cairo – Mubasher: Orascom Development Egypt has sold a commercial building to Seoudi Supermarket within the O West commercial strip at a value of EGP 332 million. the transaction aims to integrate the first supermarket in the destination, which …

Cairo – Mubasher: Banque du Caire logged standalone net profits after tax valued at EGP 5.71 billion in the first half (H1) of 2024, compared to EGP 2.59 billion in H1-23. Net income hit EGP 12.84 billion as of 30 June 2024, marking a year-on-year …

Cairo – Mubasher: Madinet Masr Housing and Development signed a memorandum of understanding (MoU) with Smart Construction and Development (SCAD) for the Sarai multi-purpose project in New Cairo with a contractual value of EGP 650 million. This …

Cairo – Mubasher: Palm Hills Developments Company posted consolidated net profits after tax and minority interest worth EGP 1.70 billion in the first half (H1) of 2024, an annual hike of 180% from EGP 608 million. Revenues reached EGP 10.93 …

Cairo – Mubasher: Menthum, Egypt's digital savings platform, and CI Capital Asset Management launched Menthum USD Fixed Income Fund, a novel US Dollar fixed income fund. This mutual fund is developed to provide both individuals and businesses with …

Cairo – Mubasher: National Bank of Kuwait - Egypt (NBK Egypt) has logged net profits valued at EGP 3.17 billion (KWD 24.90 million) in the first half (H1) of 2024. The registered net profits were higher by 102% year-on-year (YoY) than EGP 1.57 …

Cairo – Mubasher: Gadwa for Industrial Development logged a net income before minorities of EGP 1.20 billion in the first half (H1) of 2024, higher by 115% than EGP 563 million in H1-23. Revenues exceeded EGP 9 billion as of 30 June 2024, an …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) secured a contract worth more than $200 million from the Abu Dhabi National Oil Company (ADNOC), according to a press release. The deal covers the crucial marine dredging works in the …

Cairo – Mubasher: Suez Canal Authority (SCA) increased its equity ownership in Suez Canal Bank to 3.42% from 0.001%, according to a bourse disclosure. SCA purchased 15.76 million shares in the EGX-listed lender for EGP 238.87 million, at an …

Cairo – Mubasher: The Arab Dairy Products Company (Arab Dairy – Panda) generated EGP 103.30 million in consolidated net profit during the first half (H1) of 2024, an annual rise hike from EGP 50.60 million. The sales amounted to EGP 1.44 billion …

Riyadh – Mubasher: Liva Group announced a potential merger between Liva Insurance Company (Liva KSA) and Malath Cooperative Insurance Company (Malath Insurance) The GCC's leading multi-line insurer highlighted that the transaction aligns with its …

Abu Dhabi – Mubasher: Phoenix Group has collaborated with Tether, the largest company in the digital asset industry, to launch a stablecoin pegged to the UAE Dirham, according to a press release. Backed by Green Acorn Investments Limited, this …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, unveiled its financial results for the first half (H1) 2024, logging net profits of EGP 15.80 billion. The lender highlighted robust …

Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) has inaugurated its first branch in Qatar, located in the city of Doha. This branch, which is the 73rd for the company, covers an area of 1,392 square …

Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) generated consolidated net profits of EGP 643.80 million in the first half (H1) of 2024, an annual rise from EGP 267.61 million. Revenues from contracts with …

Cairo – Mubasher: The consolidated net profits after tax of Acrow Misr for Scaffolding and Formwork hit EGP 558.37 million in the first half (H1) of 2024, compared to EGP 237.55 million in H1-23. Revenues from contracts with customers reached EGP …

Cairo – Mubasher: Electro Cable Egypt registered consolidated net profits amounting to EGP 1 billion in the first half (H1) of 2024, marking a leap from EGP 539.18 million in H1-23. Total revenues reached EGP 6.64 billion in H1-24, higher …