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24 November 03:27 PM

Local Economy

The USD registered EGP 15.59 for buying
9 November 04:38 PM EGP advances against USD to highest level since early March
Cairo – Mubasher: The Egyptian pound exchange rate advanced against the US dollar to its highest level since 8 March, according to data by the Central Bank of Egypt (CBE). The USD registered EGP 15.59 for buying and EGP 15.72 for selling, the CBE …
Central Banks
International reserves grew to $38.425 billion at the end of September
1 November 03:43 PM EGP rises against USD in 10 months
Cairo – Mubasher: The Egyptian pound exchange rate climbed against the US dollar on the back of the successful monetary policy of the Central Bank of Egypt (CBE), the increase in remittances of Egyptians living abroad, and the receipt of funds …
Banking and Finance
The webinar discussed the expected economic impact of the next administration
1 November 02:26 PM How would the US elections impact the global economy?
Mubasher: With the presidential and congressional elections in the United States right around the corner, Kamco Invest hosted a webinar on the economic and financial impact of the upcoming US elections, which will take place on 3 November, with …
Politics
The kingdom had an overall 2020 index value of 57.5 in 2020.
27 October 02:26 PM Saudi Arabia advances in Global Pension Index
Riyadh – Mubasher: Saudi Arabia has achieved positive results in the 2020 Mercer CFA Institute Global Pension Index, which benchmarks 39 retirement income systems, covering almost two-thirds of the world’s population using more than 50 indicators. …
Global Economy
The final Forbes list is composed of 750 multinational and large corporations headquartered in 45 countries.
19 October 01:15 PM Saudi Aramco ranked 1st regionally in Forbes "World's Best Employers" list; 26th globally
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has secured the first spot regionally and the 26th spot globally on Forbes’ fourth-annual list of the World’s Best Employers for 2020. Forbes said it partnered with market research …
Global Economy
Zedny was founded in 2018
18 October 11:25 AM Online platforms for professional development - Interview with Zedny
By: Moslem Ali Cairo - Mubasher: With technological advancements and growing digital infrastructure, the digital education industry is growing in the Middle East. Remote learning, in particular, has gained increased importance with the recent new …
Macroeconomics
Saudi Arabia had total Islamic finance assets of $339 billion as of March 2020.
30 September 02:24 PM KSA boosts position as world’s biggest Islamic finance market - Moody's
Riyadh – Mubasher: Moody’s Investors Service said Saudi Arabia will continue a shift to more Shariah-compliant finance over the next 12-18 months as corporates and households increasingly use Islamic products, even as low oil prices and the …
Ratings
The webinar discussed the Road to Digital Transformation and Innovation
30 September 12:33 PM 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 …
Global Economy
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 …
Global Economy
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), …
Commodities
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 …
Commodities
The price of 21-karat gold registered EGP 825 per gram
23 September 04:19 PM Egypt's gold prices drop on lower global prices
Cairo – Mubasher: Gold prices continued the downward trend in the Egyptian market, falling by EGP 5 per gram on Wednesday as global prices of the precious metal fell to $1,888 per ounce, Ehab Wassef, a member of the gold division at the Federation …
Commodities
The forum will be based in Cairo as an international governmental organisation
22 September 01:29 PM East Med Gas Forum charter signed on Tuesday
Cairo – Mubasher: The East Mediterranean Gas Forum (EMGF) charter has been signed via teleconference with the aim of boosting cooperation in the natural gas sector in the Eastern Mediterranean region. The forum will be based in Cairo as an …
Macroeconomics
The virtual meeting was attended by over 100 participants
13 September 01:44 PM Egypt participates in the Palestinian-Jordanian Business Forum
Cairo - Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, participated in the Palestinian-Jordanian Business Forum last Tuesday at the invitation of Prince El Hassan of Jordan, to discuss the significant challenges …
Event
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 …
Banking and Finance
Photo Archive
10 September 11:22 AM SAGO offers tender to buy 715K tonnes of wheat
Riyadh – Mubasher: Saudi Grains Organization (SAGO) will offer this year’s fourth tender to import 715,000 tonnes of wheat for the period from November 2020 to January 2021, state-run Saudi Press Agency (SPA) reported on Thursday. SAGO’s governor, …
Macroeconomics
Murban crude was priced at minus $0.50 per barrel in October
8 September 01:10 PM ADNOC cuts Murban crude oil price for October
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has lowered the official selling price (OSP) of its benchmark Murban crude at minus $0.50 per barrel (pb) to Platts Dubai for October, down by $1.35 from September, Reuters reported on …
Commodities
Photo Archive
6 September 10:21 AM Saudi Aramco cuts October Arab light crude price to Asia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) slashed the October official selling prices (OSPs) for the Arab light crude it sells to Asia by $1.40 a barrel, to 50 cents a barrel below the Oman/Dubai average, Reuters recently …
Commodities
Saudi Stock Exchange (Tadawul)
2 September 04:39 PM Your guide to the new Saudi derivatives market - Infographic
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) launched the Derivatives Market on 30 August 2020 to start trading of the kingdom's first exchange-traded derivatives product. The financial derivatives market will offer investors a …
Trading Activities
The derivatives market will be launched on Sunday, 30 August
27 August 04:26 PM Investors awaiting launch of Saudi derivatives market next week
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) is close to launching the Derivatives Market to start trading of the kingdom's first exchange-traded derivatives product. Many market analysts affirmed the launch, set to take place on Sunday, …
Markets Regulations
The deadline for bid submission is 10:00 GMT on Tuesday
25 August 10:41 AM Egypt launches int'l wheat tender
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) has launched an international tender to purchase an unspecified amount of wheat to be delivered between 11 and 31 October, Reuters reported late on Monday. 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 …
Banking and Finance
Egypt's consumption is expected to stand at 20.8 million tonnes
23 August 03:37 PM Egypt’s wheat imports likely to drop this season – Report
Cairo – Mubasher: Egypt’s wheat imports are expected to fall marginally to 13 million tonnes in marketing year 2020/2021 from 13.3 million a year earlier and 12.35 million in 2018/2019, according to a recent report by the US Department of …
Commodities
This recession is forecast to drive lower investments
20 August 12:30 PM What should the world learn from the COVID-19 crisis?
By: Marina Gamil Mubasher: Economies have been hit hard by the coronavirus (COVID-19) pandemic, which affected people’s lives, slowed down activity, and disrupted financial markets and supply chains, pushing the world to think of new ways to …
Global Economy
The three-day event was held between 13 and 15 August
16 August 03:32 PM How can businesses prepare for the next pandemic?
By: Amal A. Wahaab Cairo – Mubasher: RiseUp Summit has recently concluded its first virtual event, RiseUp from Home, which was launched in line with the preventive measures against the coronavirus pandemic. The three-day event was held on 13-15 …
Event