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29 September 11:34 PM

Banking

The USD registered EGP 15.72 for buying at NBE and ALEXBANK
10 September 03:10 PM EGP rises against USD to highest level since mid-May
Cairo – Mubasher: The Egyptian pound exchange rate rose against the US dollar at local banks on Thursday, hitting its highest level since mid-May. The US dollar registered EGP 15.72 for buying and EGP 15.92 for selling, according to data by the …
Macroeconomics
The USD registered EGP 15.85 for buying at AAIB and EG Bank
24 August 04:26 PM EGP rises against USD to highest level since May
Cairo – Mubasher: The Egyptian pound exchange rate continued to increase against the US dollar at local banks on Monday, hitting its highest level in more than 12 weeks. The USD exchange rate declined to EGP 15.83 for buying and EGP 15.93 for …
Macroeconomics
For an enterprise system stability is more important than functionality
16 August 12:42 PM How a startup application can be a modern enterprise system?
By: Marina Awadallah Cairo - Mubasher: As the world is rapidly moving into digital transformation, scaling businesses from startups to an enterprise that facilitates the exchange of data is necessary for their growth and their operations’ …
Event
How the pandemic changed the e-payments outlook in MENA?
12 August 07:27 PM The future of e-payment solutions after COVID-19
By: Moslem Ali Cairo – Mubasher: “Stay Home” is a global call that spread across the world over the past months, signalling not only a new public policy and a health precaution against an infectious disease but a turning point in how markets …
Macroeconomics
The USD declined to EGP 15.09 for purchasing at AAIB
13 July 02:08 PM EGP rises against USD at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate slid against the Egyptian pound at seven local banks on Monday. The greenback fell to EGP 15.89 for buying and EGP 15.99 for selling at Commercial International Bank (CIB) and Suez Canal Bank. …
Banking and Finance
The greenback slid to EGP 16.08 for buying at ALEXBANK and Suez Canal Bank
30 June 04:01 PM USD falls against EGP at local banks on Tuesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound fell by about EGP 0.02 at local banks on Tuesday. The greenback slid to EGP 16.08 for buying and EGP 16.18 for selling at ALEXBANK and Suez Canal Bank. Meanwhile, the USD …
Currencies
Mansour Group, from Egypt, came in first place
28 June 03:24 PM Top 100 Arab family businesses include 36 Saudi firms - Forbes
Mubasher: Saudi Arabia has dominated this year’s Forbes Middle East Top 100 Arab Family Businesses, which are seen as the backbone of the region's economy. Saudi Arabia came in the lead with 36 family businesses, followed by the UAE with 21 …
Global Economy
The greenback advanced to EGP 16.17 for buying at AAIB
7 June 04:11 PM EGP slides to lowest level against USD since October 2019
By: Heba El-Kordy Cairo – Mubasher: The Egyptian pound exchange rate continued its declining trend against the US dollar, nearing the lowest level since 21 October 2019, according to data compiled by Mubasher. For the second week in a row, the USD …
Banking and Finance
The USD went up to EGP 15.86 for buying at NBE
1 June 01:15 PM USD almost hits EGP 16 at local banks on Monday
Cairo – Mubasher: The US dollar continued to increase against the Egyptian pound during early trading at local banks on Monday, almost hitting EGP 16 for the first time in five months. The USD went up to EGP 15.86 for purchasing and EGP 15.96 for …
Currencies
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Banking and Finance
Phoenix Commodities Pvt was recently placed in liquidation
11 May 10:58 AM CBI denies financial exposure to Phoenix Commodities
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has negated any financial exposure to Phoenix Commodities Pvt or its related parties, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. Founded 20 …
Banking and Finance
The USD rose to EGP 15.69 for buying at CBE
26 April 02:43 PM USD stabilises against EGP at local banks on Sunday
Cairo – Mubasher: The Egyptian pound exchange rate has stabilised against the US dollar during mid-trades on Sunday at local banks. The USD remained unchanged at EGP 15.68 for buying and EGP 15.78 for selling at the National Bank of Egypt (NBE) …
Banking and Finance
Domestic M&A registered a 92% annual drop in Q1-20
16 April 11:42 AM MENA M&A deals record $14.8bn in Q1-20 – Report
Dubai – Mubasher: Investment banking fees in the Middle East and North Africa (MENA) region rose by 11% year-on-year (YoY) to an estimated $188.8 million during the first quarter (Q1) of 2020, with three-figure gains recorded across mergers and …
Global Economy
Minister of international cooperation - Rania Al Mashat
6 April 12:51 PM AfDB allocates $3bn to support member countries’ efforts against COVID-19
Cairo – Mubasher: The African Development Bank Group (AfDB) allocated $3 billion to support efforts to curb the spread of the novel coronavirus (COVID-19) in member states, including Egypt, director of AfDB's Country Office, Malin Bloomberg, said. …
Global Economy
CBK eased the risk weighting for SMEs to 25% from 75%
2 April 01:09 PM Kuwait C. bank offers stimulus to support vital sectors, SMEs
Mubasher: The Central Bank of Kuwait (CBK) on Thursday announced a stimulus package to help vital economic sectors, projects of added value, and small and medium-sized enterprises (SMEs) cushion the impact of the coronavirus outbreak. The new …
Banking and Finance
President of Egypt, Abdel Fattah El-Sisi
27 March 06:07 PM Egypt calls for African debt relief by G20 countries
Cairo – Mubasher: President of Egypt, Abdel Fattah El-Sisi, has presented an initiative to the G20 group to consider easing debt burdens on African countries, in light of the impacts of the coronavirus (COVID-19) crisis on the continent’s …
Burgan Bank's stake represents 129.48 million shares of Bank of Baghdad
16 March 12:42 PM Burgan Bank plans to sell 52% stake in Bank of Baghdad
Mubasher: Burgan Bank said that it plans to transfer the ownership of its 51.8% stake in Bank of Baghdad to the United Gulf Holding Company (UGH), which is a sister company of the Kuwait-based bank. The stake represents nearly 129.48 million …
Central Banks
The economic stimulus package aims to mitigate the impacts of the coronavirus epidemic
16 March 11:36 AM Abu Dhabi introduces 16 economic initiatives amid COVID-19 outbreak
UAE – Mubasher: The government of  Abu Dhabi has launched 16 initiatives under the emirate’s economic stimulus package, aiming to protect the economy from the repercussions of the coronavirus (COVID-19) epidemic, as directed by Crown Prince of Abu …
Global Economy
The programme aims to mitigate the impacts of the COVID-19 outbreak
15 March 01:57 PM SAMA supports SMEs with SAR 50bn against COVID-19
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has introduced the “Private Sector Financing Support Program” with a total value of about SAR 50 billion. The programme aims at supporting the private sector to promote economic growth …
Global Economy
The USD fell by EGP 0.04 to EGP 15.64 for buying at EG Bank
9 March 01:35 PM USD rises against EGP at local banks on Monday
Cairo – Mubasher: The Egyptian pound exchange rate went down against the US dollar at local banks on Monday amid rising concerns over the spread of the new coronavirus (COIVD-19). The USD grew by EGP 0.05 to EGP 15.64 for buying and EGP 15.74 for …
Currencies
The fund is currently at the cabinet’s disposal
8 March 03:12 PM Kuwait C. bank sets up KWD 10m fund to combat coronavirus
Mubasher: The Central Bank of Kuwait (CBK) has established a KWD 10 million ($32.8 million) fund financed by Kuwaiti banks to promote the government’s efforts against the spread of the China coronavirus (COVID-19).    The initiative is part of the …
Central Banks
The greenback went down to EGP 15.57 for buying at SAIB
5 March 04:43 PM EGP returns to upward trend against USD on Thursday
Cairo – Mubasher: The US dollar exchange rate returned to its downward trend against the Egyptian pound at the end of Thursday’s transactions at local banks.  The USD declined by EGP 0.04 to EGP 15.59 for buying and EGP 15.69 for selling at Al …
Banking and Finance
The USD dropped to EGP 15.65 for buying at ADIB
17 February 02:43 PM USD falls against EGP at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound at 12 local banks on Monday. The USD dropped to EGP 15.65 for buying and EGP 15.75 for selling at Abu Dhabi Islamic Bank (ADIB) and EGP 15.63 for buying and EGP …
Banking and Finance
Egypt’s gold reserves increased to $3.424 billion
9 February 02:57 PM Egypt’s gold reserves up $123m in January amid coronavirus worries
Cairo – Mubasher: Gold reserves in Egypt rose in January for the second month in a row as concerns about the spreading coronavirus fuelled safe-haven demand. Egypt’s gold reserves increased by $123 million to $3.424 billion in January from $3.301 …
Macroeconomics
Burgan Bank expects the deal to improve the quality of its assets
28 January 09:51 AM Burgan Bank gets approval for selling stake in Bank of Baghdad
Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank’s 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding …
Banking and Finance