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28 September 10:12 PM

Local Economy

The gold pound is priced at EGP 6,504
4 hours ago 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), …
Macroeconomics
Photo Archive
27 September 10:27 AM Global Artificial Intelligence Summit to kick off next October
Riyadh – Mubasher: The Saudi Data and Artificial Intelligence Authority (SDAIA) will organise the Global Artificial Intelligence Summit (GAIS) on 21-22 October 2020, state-run Saudi Press Agency (SPA) reported on Sunday. Under the theme, “AI FOR …
Macroeconomics
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 …
Macroeconomics
Photo Archive
21 September 04:25 PM Saudi Arabia offers $48bn to support developmental projects worldwide
Riyadh – Mubasher: Saudi Arabia has provided around $48 billion in assistance to developmental projects around the world as part of financial contributions to international organisations and authorities. The kingdom granted $32.12 billion in aids …
Macroeconomics
Photo Archive
21 September 11:18 AM CPhI Middle East & Africa to kick off in Riyadh next year
Riyadh - Mubasher: This year’s edition of the leading regional pharmaceutical event CPhI Middle East & Africa will be held alongside the Global Health Exhibition (GHE) in Riyadh between 26 and 28 September 2021. Under the patronage of the Saudi …
Macroeconomics
Saudi imports from Arab countries tumbled by 17.65% yearly in H1-20
17 September 02:56 PM Saudi trade surplus with Arab states nears $6bn in H1
Riyadh – Mubasher: Saudi Arabia registered a trade surplus with Arab countries worth SAR 22.47 billion ($5.99 billion) in the first half (H1) of 2020, a yearly decrease of 37.5% when compared to SAR 35.93 billion ($9.58 billion) in the year-ago …
Macroeconomics
Photo Archive
15 September 01:27 PM Saudi ranks third in MENA by startup deals, funding – MAGNiTT
Riyadh – Mubasher: Various economic sectors in Saudi Arabia generate growing interest in startups in implementation of the Kingdom’s Vision 2030, boosting the GCC nation to take the third spot in terms of the number of deals and total …
Macroeconomics
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 …
Macroeconomics
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, …
Event
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 …
Commodities
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
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 …
Macroeconomics
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 …
Event
Bahrain awarded $21.8 million worth of tenders to SMEs
18 August 01:50 PM Bahrain awards $1.7bn tenders in H1-20
Mubasher: Bahrain awarded 769 tenders worth a total of $1.7 billion in the first half (H1) of 2020, according to recent data released by Bahrain’s Tender Board, the kingdom's government procurement regulator. The construction and engineering …
Macroeconomics
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
The new office is located in Riyadh
13 August 12:45 PM State Street expands Middle East footprint with new office in KSA
Riyadh – Mubasher: State Street Corporation has opened its first office in Saudi Arabia under the name, State Street Saudi Arabia Financial Solutions Company (State Street Saudi Arabia).  Located in Riyadh, the new office will provide both …
Macroeconomics
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 …
Global Economy
Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
International Agreements
The joined members can now provide brokerage services for derivatives trading
9 August 05:11 PM Tadawul welcomes five members to derivatives market
Riyadh - Mubasher: The first group of the derivatives exchange members has joined the Saudi Stock Exchange’s (Tadawul) derivatives market after completing all necessary regulatory and technical requirements and procedures. The list includes NCB …
Event
The third stage will be conducted on 5,000 participants in the kingdom
9 August 09:37 AM Saudi Arabia starts phase three clinical trial of COVID-19 vaccine
Riyadh – Mubasher: The Saudi Ministry of Health announced it began clinical trials for a coronavirus (COVID-19) vaccine in the kingdom, within the framework of a cooperation agreement between the kingdom and China, according to an official …
Global Economy