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Minister of Petroleum Tarek Al-Mulla
17 August 07:06 PM Egypt to lay 950km new gas supply pipelines by 2023
Cairo – Mubasher: The Egyptian government is planning to add 950 kilometres of pipelines to the national gas network by 2023, Minister of Petroleum Tarek Al-Mulla stated on Saturday. A group of projects are under consideration to increase the …
EGP 6bn were allocated to export stimulation programme
17 August 06:36 PM Egypt to invest $663.7m to launch industrial complexes, support exporters
Cairo – Mubasher: The Egyptian government has allocated EGP 11 billion ($663.71 million) to build industrial complexes and bolster exporters, finance minister, Mohamed Maait, said on Saturday, according to a statement. Under the government plan to …
President Abdel Fattah El-Sisi
17 August 06:11 PM El-Sisi appoints new head for Suez Canal Authority
Cairo – Mubasher: Egypt's President Abdel Fattah El-Sisi has appointed Lieutenant General Osama Rabie as chairman of the Suez Canal Authority (SCA), according to Ahram Online. The previous head of the SCA, Mohab Mamish was named an advisor to the …
16 August 11:12 PM Oil ends higher on Friday   
​​​​​​​Mubasher: Oil future grew at Friday’s settlement, rising 0.7% for the week.
16 August 10:21 PM Gold loses $7.6 at Friday’s finish    
​​​​​​​Mubasher: Gold ends lower on Friday, gaining 1% for the week.
Books and art types exports went up to $7.16m in 6M
16 August 06:21 PM Egypt’s non-oil exports record over $13bn in H1-19
Cairo – Mubasher: Egypt’s non-oil exports reached $13.037 billion during the first six months of 2019, according to a report released by the General Organization for Export and Import Control (GOEIC). The GOEIC have reported growth in five export …
Egypt's Ministry of Finance
16 August 05:46 PM Egypt to cut debt-to-GDP ratio to pre-2011 levels
Cairo – Mubasher: The Egyptian government is planning to reduce the government debt to GDP ratio to reach 77.5% by the end of June 2022, which will decrease the country’s debt service, according to a statement released on Friday by the Ministry of …
16 August 05:40 PM OPEC downgrades oil demand outlook, predicts 2020 glut
Mubasher: The Organization of the Petroleum Exporting Countries on Friday cut its outlook for global oil demand for the rest of the year.
16 August 05:13 PM US consumer confidence hits 2019 low in early August
Mubasher: US consumer sentiment recorded he worst reading so far this year during the first half of August.
16 August 04:40 PM OPEC crude output drops in July
Mubasher: Declines mostly came from Saudi Arabia, Iran, Libya and Venezuela.
16 August 03:52 PM Hong Kong economy shrinks in Q2 on political turmoil
Mubasher: Hong Kong is on the brink of its first recession since a decade.
16 August 03:45 PM US private housing starts plunge in June
Mubasher: Privately-owned housing starts came in at a seasonally adjusted annual rate of 1.191 million starts last July.
16 August 02:59 PM Euro hits 2-week trough as dollar advances
Mubasher: The euro on Friday dropped against the dollar, hovering below a two-week low, Reuters reported.
16 August 02:32 PM London’s FTSE 100 opens higher after delay on ‘technical problems’
Mubasher: London Stock Exchange on Friday postponed open of Financial Times Stock Exchange 100 (FTSE 100) index and FTSe 250.
16 August 01:01 PM Eurozone trade surplus shrinks in June
Mubasher: Initial estimates suggested that the Eurozone trade balance posted a surplus of EUR 20.6 billion in June, down year-on-year from EUR 22.6 billion.
16 August 12:43 PM World’s banks announced plans to axe 48,000 jobs in 2019
Mubasher: Banks across the world have laid off more than 48,500 employees this year as the economic outlook dimmed, according to Bloomberg.
16 August 11:26 AM Gold to post 3rd weekly gain on trade, growth fears
Mubasher: Gold prices fell on Friday, but they were on course to record their third weekly gain in a row, as safe-haven demand remained supported.
16 August 10:24 AM Oil jumps on retreating recession worries
Mubasher: Oil futures rose on Friday, gaining support from easing worries about an economic recession in the world’s biggest crude consumer.
15 August 11:31 PM Oil settles lower on Thursday  
Mubasher: Oil future fell at Thursday’s settlement, as US natural gas stockpiles rose. 
15 August 11:09 PM Swiss-Belhotel International to expand in Vietnam
Mubasher: Swiss-Belhotel International has unveiled plans to expand in Vietnam and add at least 10 hotels and resorts to its Vietnamese portfolio.
President Abdel Fattah El-Sisi
15 August 10:26 PM El-Sisi approves EUR 350m loan from European Investment Bank
Cairo – Mubasher: Egypt’s President Abdel Fattah El-Sisi on Thursday approved an agreement with the European Investment Bank (EIB), for a EUR 350 million loan. The loan will be used for the renovation and development of the First Line of Cairo …
15 August 10:06 PM Gold rises at Thursday’s close   
Mubasher: Gold settles higher on Thursday, marking its highest level since April 2013.
The CBE headquarters
15 August 09:55 PM CBE sells EGP 17.2bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) stated on Thursday that the returns on 182-day and 364-day bills have reached EGP 17.215 billion. The average return on 182-day treasury bills registered 17.7%, with a total turnover of EGP 7.022 …
15 August 07:41 PM China vows again to take measures against US levies
Mubasher: China renewed its vow to retaliate against US tariffs, which are due to be implemented in the upcoming weeks.
EIPICO headquarters
15 August 07:22 PM Pharos sets EIPICO’s FV at EGP 95.3
Cairo – Mubasher: Pharos Research has set the fair value (FV) of the Egyptian International Pharmaceutical Industries Company (EIPICO) at EGP 95.3, with an overweight recommendation, according to a report released on Thursday. EIPICO can enhance …