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The credit facility is part of the partnership between the bank and AFD
26 November 04:19 PM National Bank of Egypt, AFD sign EUR 100m credit facility agreement
Cairo – Mubasher: The National Bank of Egypt and Agence Francaise De Developpement (AFD) have inked a credit facility agreement worth EUR 100 million to finance climate conservation and sustainable development-related projects in Egypt. The …
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26 November 01:57 PM Egypt aims to provide 80% of commercial register services digitally next year
Cairo – Mubasher: Deputy Minister of Egypt’s Ministry of Supply and Internal Trade and head of the Internal Trade Development Authority (ITDA), Ibrahim Ashmawy, said the ITDA aims to provide more than 80% of the commercial register and …
The number of subscribers in these governorates reached around 4 million
26 November 01:33 PM Egypt invests EGP 105m to develop power grids in 5 governorates
Cairo - Mubasher: Middle Egypt Electricity Distribution Co has invested around EGP 105 million in developing and improving the efficiency of power grids in five governorates during the first quarter (Q1) of fiscal year 2020/2021. The five …
The transaction has been carried out on 13.23 million shares.
26 November 12:46 PM EGX executes MTO on Tourah Portland Cement at EGP 95m
Cairo – Mubasher: The Egyptian Exchange (EGX) has executed the mandatory tender offer (MTO) submitted by Suez Cement Company on the shares of Tourah Portland Cement Co. The transaction has been carried out on 13.23 million shares at a total value …
The increase is distributed over 10 million shares
26 November 12:28 PM Egyptians for Investment board nods to EGP 10m capital raise
Cairo – Mubasher: The board of Egyptians for Investment and Urban Development Company has approved the issued and paid-up capital raise by EGP 10 million to EGP 50 million from EGP 40 million. The increase is distributed over 10 million shares …
No Arab billionaires have seen declines in wealth since April.
26 November 11:59 AM Arab billionaires’ fortunes jump $11bn despite the pandemic - Forbes
Riyadh – Mubasher: Arab billionaires have witnessed a surge in their fortunes despite the coronavirus pandemic, with a cohort of 21 individuals gaining $10.8 billion during the last seven months, Forbes said. The list was headed by Algerian …
The first tranche of T-bills will be offered through 182-day notes
26 November 10:57 AM CBE offers EGP 21bn T-bills on Thursday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday treasury bills (T-bills) valued at EGP 21 billion, in coordination with the Egyptian Ministry of Finance, to fund the budget deficit. The first tranche of T-bills will be …
The loan aims to finance part of the authority's projects to support the industry
25 November 04:40 PM Egypt's cabinet nods to EGP 10bn loan for SCZone
Cairo - Mubasher: The Egyptian Cabinet has approved an EGP 10 billion long-term co-financing which will be provided by the National Bank of Egypt and Bank Misr to the General Authority for Suez Canal Economic Zone (SCZone). The loan aims to …
Egypt has the largest share of the investment projects
25 November 03:30 PM Egypt implements 32% of COMESA's projects in 7M
Cairo - Mubasher: Egypt has implemented 32 projects in the Common Market for Eastern and Southern Africa (COMESA), accounting for 32% of the projects in these countries during the January-July period of 2020, the Middle East News Agency (MENA) …
The Egyptian Minister of Social Solidarity, Nivine El-Kabbag.
25 November 01:36 PM Egypt to set up presidential fund to support irregular workers against risks
Cairo – Mubasher: The Egyptian Minister of Social Solidarity, Nivine El-Kabbag, said there is a mandate to launch a presidential fund to support irregular workers against different risks. Through the fund, irregular employees will receive …
One of the companies will be specialised in the financial services
25 November 12:30 PM Pioneers Holding's EGM nods to split into 3 firms
Cairo – Mubasher: The extraordinary general meeting (EGM) of Pioneers Holding Company for Financial Investment has approved to split the company into three separate companies. The companies will be specialised in the financial services, real …
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25 November 12:28 PM Speed Medical to set up new firm; rejects share exchange with City Lab
Cairo – Mubasher: The Board of Directors of Speed Medical Company approved the establishment of Speed for Medial Facilities Management Company with a 50% contribution from the company’s shares in a bid to manage hospitals, clinics, and medical …
Head of Arab Organization for Industrialization (AOI), Abdel-Moneim El-Terras
24 November 05:55 PM Benya Capital pens deal with Engineering Consultants Group
Cairo – Mubasher: The Head of Arab Organization for Industrialization (AOI), Abdel-Moneim El-Terras, and the Chairman and CEO of Benya Capital, Ahmed Mekky, witnessed the signing of an agreement with Engineering Consultants Group (ECG) to …
Minister of Transport, Kamel El-Wazir
24 November 05:06 PM Huawei Egypt signs training agreement with Trans IT
Cairo – Mubasher: Transport Information Technology Co. (Trans IT), the technological arm of the Egyptian Ministry of Transport, signed an agreement with Huawei Egypt. The agreement includes transferring the experience of Huawei to the staff of …
24 November 04:59 PM Airlines to record $157bn losses in 2020, 2021 - IATA
The IATA warned of $157 billion losses expected to be witnessed by airlines in 2020 and 2021 due to COVID-19.
The 22-station monorail will extend for 56.5 kilometres
24 November 04:39 PM Egypt names monorail station as 1-Ninety
Cairo – Mubasher: The Egyptian National Authority for Tunnels (NAT) signed an agreement to name one of the under-construction monorail stations as 1-Ninety, a real estate project in New Cairo by Landmark Developments. The agreement was signed by …
The investment cost of the project's first phase is estimated at EGP 2.8 billion
24 November 03:57 PM Egypt inks deal to establish National Egyptian Railway Industries Co
Cairo – Mubasher: Egypt’s Minister of Planning and Economic Development, Hala El-Saeed, and Minister of Transport, Kamel El-Wazir, witnessed the signing of a new contract for establishing the National Egyptian Railway Industries Co. (NERIC) in …
24 November 02:42 PM Elon Musk becomes world's second-richest person
Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
Fashion, electronics, healthcare, and groceries witnessed the largest increase of online activity.
24 November 02:09 PM Mastercard study shows 72% of Egyptian consumers shop more online since pandemic
Cairo – Mubasher: A Mastercard study showed that 72% of Egyptian consumers are shopping more online since the outbreak of the coronavirus (COVID -19) pandemic, according to a statement on Tuesday. Amid the restrictions imposed to curb the spread …
Returns on FDI to COMESA increased to $31 billion
24 November 01:34 PM EGX leads COMESA in attracting foreign investments
Cairo – Mubasher: The Egyptian Exchange (EGX) has acquired the largest share of foreign investments directed to stock exchanges in the Common Market for Eastern and Southern Africa (COMESA), making up 38% in 2019, followed by Tunisia and Sudan …
Minister of Planning and Economic Development, Hala El-Saeed
24 November 01:18 PM Egypt allocates EGP 5.7bn investments for Beheira in FY20/21
Cairo – Mubasher: Egypt’s Ministry of Planning and Economic Development has allocated EGP 5.7 billion in investments for Beheira in fiscal year 2020/2021, up by 113.6% year-on-year (YoY) from the allocated investments in FY19/20. Developmental …
The production of fertilisers increased by 30.7% to EGP 2.5 billion
24 November 12:44 PM Egypt’s sugar production registers EGP 12.2bn
Cairo – Mubasher: Egypt’s production of sugar in public-business sector reached a value of EGP 12.2 billion in fiscal year 2017/2018, up by 30.8% from EGP 9.3 billion a year earlier, according to the statistical yearbook issued by the Central …
CIRA reported net profits of EGP 330.4 million in nine months
24 November 12:22 PM CIRA mulls issuance of Ijara Sukuk
Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) is currently considering to issue Ijara Sukuk compliant with the Islamic Sharia. In response to news reports about the company seeking to issue EGP 600 million Sukuk, the …
The Ministry of Health reported 354 new COVID-19 cases on Monday.
24 November 12:01 PM Egypt responds to news about suspending events, closing schools
Cairo – Mubasher: Egypt’s cabinet denied news reports about suspending events, closing schools and universities, granting leave to employees in the upcoming period to combat the coronavirus (COVID-19) pandemic. The cabinet said that these news …
The steel manufacturer’s sales fell to EGP 237.72 million
24 November 11:10 AM Hadisolb's loss shrinks 25% in Q1 unaudited results
Cairo – Mubasher: The unaudited financial results of the Egyptian Iron and Steel (Hadisolb) showed net losses of EGP 274.48million during the first quarter (Q1) of fiscal year 2020/2021, down by 25.4% year-on-year (YoY) from EGP 367.8 million. The …