North africa news

The Egyptian firm’s net profits amounted to EGP 11.9 million in 9M
1 hour ago Extracted Oils’ profit jumps 46% in 9M
Cairo – Mubasher: Extracted Oils & Derivatives Company (Extracted Oils) reported a 46% year-on-year net profit in the first nine months of fiscal year 2018/2019. The Egyptian firm’s net profits amounted to EGP 11.9 million from July 2018 to March, …
The company’s capital will be raised by SAR 24.5 million to SAR 205 million
1 hour ago Ibnsina Pharma’s OGM approves dividend, bonus shares for 2018
Cairo – Mubasher: Ibnsina Pharma announced that the company’s shareholders had approved distributing a cash dividend of EGP 0.070 a share with a total value of EGP 50.89 million for 2018 during an ordinary general meeting (OGM). The OGM also …
Al Ezz Dekheila Steel achieved profits of EGP 647.35 million in FY18
2 hours ago Al Ezz Dekheila Steel to pay EGP 1.87bn dividend for FY18
Cairo – Mubasher: The ordinary general meeting (OGM) of Al Ezz Dekheila Steel – Alexandria has agreed on paying EGP 1.87 billion cash dividend for fiscal year 2018. Furthermore, the company approved paying EGP 20 per share to the entitled …
The revival of the tourism sector is also another large contributor to employment
2 hours ago Growth towards new cities in Egypt is inevitable – JLL
Cairo – Mubasher: The Egyptian government has pumped approximately EGP 200.7 billion worth of investment in the implementation of projects in the new cities being established across the country, while the private sector has invested nearly EGP 400 …
The event seeks to create a more favorable tax environment for enterprises
3 hours ago UAE elected as new vice chairman in China’s BRITACOM forum
UAE – Mubasher: The UAE has been elected as a vice chairman of the Belt And Road Initiative Tax Administration Cooperation Forum (BRITACOM), which took place in China during the period between 18 April and 20 April. Khalid Ali Al Bustani, chairman …
The QR Code is an easy and safe way to conduct and accept e-payment
3 hours ago Eight banks approach CBE to get QR Code licences
By: Elam Fadl Cairo – Mubasher: Eight banks have approached the Central Bank of Egypt (CBE) to obtain a licence for introducing the QR Code technology, banking sources told Mubasher. These lenders include the National Bank of Egypt (NBE), Banque …
The capital increase will be implemented through the issuance of 692.65m bonus shares
3 hours ago Elsaeed Contracting’s OGM approves EGP 69.3m capital hike
Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company (SCCD) on Sunday announced that the ordinary general meeting (OGM) has approved to raise the company’s issued and paid-up capital to EGP 761.92 million from EGP 692.65 …
The deal is expected to be sealed with the government ahead of end-April
3 hours ago El-Attal Holding seeks gov’t partnership to expand outside Cairo
By: Abdullah Bedeir Cairo – Mubasher: El-Attal Holding is currently in talks with the Egyptian government to build social housing units outside Cairo, the company’s chairman said. The real estate firm is negotiating with state-run entities to …
Egypt is keen on coordinating with the Chinese company in AI
4 hours ago China’s Huawei to trial 5G network in Egypt next June
Cairo – Mubasher: China-based Huawei Technologies Company Ltd. will launch the first 5G network services trial in Egypt at the Cairo International Stadium during the period of hosting the 2019 Africa Cup of Nations, the Egyptian telecommunication …
NBK reported a 15.1% y-on-y profit increase to KWD 107.73m in Q1-19
4 hours ago NBK eyes bigger market share in Egypt – CEO
Mubasher: The National Bank of Kuwait (NBK) plans to increase its market share in the Egyptian market, mainly in the retail banking sector by providing cutting-edge solutions, the CEO of the NBK Group said. NBK’s new branches in Saudi Arabia have …
Porto Group and Amer Group announced split-up in 2015
4 hours ago Amer Group, Porto Group unveil projects’ progress after split-up
Cairo – Mubasher: Porto Group Holding and Amer Group Holding Co have mentioned the latest updates pertaining to their projects after split-up in 2015. The two firms’ subsidiaries reached 11 in 2015 and 2016, while they totaled 12 and 13 in 2017 …
TMG Holding reported EGP 1.77 billion in consolidated profits for FY18
4 hours ago TMG Holding seeks to amend five-star hotel deal with Egoth
Cairo – Mubasher: Talaat Mostafa Group Holding (TMG Holding) is looking at amending its agreement with the Egyptian General Co. for Tourism & Hotels (Egoth) through one of its subsidiaries. Upon the deal, the Cairo-based real estate firm will …
02:03 PM Sri Lanka imposes curfew as eight blasts coincide Easter Sunday
Egyptian trade and industry minister Amr Nassar
12:39 PM Egypt maintains tariff on raw leather exports for 12M
Cairo – Mubasher: Egyptian trade and industry minister Amr Nassar has issued a decree to maintain the tariff imposed on raw leather exports for a year as of 2 May. The ministerial decree No. 631 for 2017 stipulates that raw leather would be …
This deal boosts Egypt Vision 2030 Sustainable Development Strategy
12:19 PM Gov’t partners with VMware to help young Egyptians secure ICT jobs
Cairo – Mubasher: The US-based VMware and Egypt’s Information Technology Institute (ITI), an affiliate of the communications and information technology ministry (MCIT), have signed a collaboration agreement to develop and broaden information and …
The company’s capital will be raised to EGP 234.73 million from EGP 147.73 million
12:07 PM Samcrete Misr EGM nods to EGP 85m capital hike
Cairo – Mubasher: Samcrete Misr on Sunday announced that the company’s extraordinary general meeting (EGM) has approved a capital increase of EGP 85 million. Accordingly, the company’s capital will be raised to EGP 234.73 million from EGP 147.73 …
Egyptian housing minister Assem El-Gazzar
11:47 AM Egypt’s housing ministry to build EGP 500bn projects
Cairo – Mubasher: The Egyptian New Urban Communities Authority has agreed to implement various development and services projects over 113 land plots spanning around 2,530 feddans in 24 new cities, the housing minister said on Sunday. The projects …
The new schools have 166 classrooms
10:55 AM El Sherouk City Authority builds 4 schools
Cairo – Mubasher: El Sherouk City Authority is currently building four new schools in El Sherouk City, the authority chairman said. The new schools have 166 classrooms, Abdel Raouf El Gheity added in a statement, noting that the authority is keen …
The issuance will be used to finance the budget deficit
10:20 AM CBE issues EGP 17.2bn in T-bills Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 17.2 billion on Sunday, on behalf of the Ministry of Finance (MOF). The first tranche of the T-bills will be offered through 91-day notes at EGP 8.5 …
NTPC will provide maintenance services
20 April 07:30 PM Kahromika inks cooperation pact with Indian energy conglomerate
Cairo – Mubasher: Misr For Mechanical & Electrical Projects (Kahromika) has closed an agreement with India’s energy conglomerate NTPC for the cooperation in energy, power plants’ maintenance, and renewable energy. Under the agreement, the Indian …
The agriculture sector includes around 5.5 million workers
20 April 03:33 PM Agriculture contributes 6.3% to Egypt’s economic growth in 3M
Cairo – Mubasher: The Egyptian agriculture sector has contributed to 6.3% of the economic growth in the third quarter of the fiscal year 2018/2019, compared to 5.7% in the year-ago period, planning minister Hala El Said announced on Saturday. The …
Planning ministry released the figure in an infographic
19 April 10:58 PM Egypt targets EGP 6.3trln GDP in FY19/20
Cairo – Mubasher: The Egyptian government is targeting a GDP of EGP 6.3 trillion ($366.56 billion) at current prices in the fiscal year 2019/2020. The Minister of Planning, Follow-up, and Administrative Reform released the targeted GDP on Friday, …
19 April 06:48 PM Uber’s autonomous vehicle arm valued at $7bn
Uber's self-driving vehicle unit managed to raise $1 billion from a group of investors, including SoftBank, according to Reuters.
19 April 06:09 PM S.Korea plans to expand renewable energy mix share  
South Korea seeks to raise the portion of renewables of its energy production to 35% by 2040, Reuters reported, citing a draft policy revision.
19 April 05:42 PM US wins WTO ruling against China’s grain tariff-rate quotas
The US prevailed in a World Trade Organization dispute with China, in which Washington accused Beijing of limiting market access for American farm goods.