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The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
The global oil market has been supported by OPEC’s output cut deal
27 May 05:57 PM Kuwait’s crude oil rises $2.14 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil reached $28.61 per barrel (pb) on Tuesday, 26 May, up by $ 2.14, compared to $26.47 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). The global oil market …
Non-oil imports dropped to $18.797 billion
27 May 12:08 PM Egypt’s trade deficit down 35% in 4M
Cairo – Mubasher: Egypt’s balance of trade deficit shrank by $5.570 billion or 35% year-on-year (YoY) in the first four months of 2020, minister of trade and industry Nevine Gamea said. Increasing reliance on local products has contributed to …
Photo Archive
26 May 02:43 PM Oman crude oil up 68 cents on Tuesday
Mubasher: The price for Omani crude oil for July delivery increased by 68 cents on Tuesday, according to the Dubai Mercantile Exchange (DME). The barrel price amounted to $37.70 on Tuesday, compared to $37.02 on Monday. The price for June …
The financing was provided to 48,743 projects
26 May 12:35 PM Egypt’s MSMEDA offers EGP 1.1bn funding in 4M
Cairo – Mubasher: The Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated EGP 1.19 billion in funding to 48,743 small and micro projects during the first third of 2020, MSMEDA’s executive director and the …
Banks will be open to the public from 9:30 a.m. to 3:00 p.m
26 May 11:17 AM CBE changes working hours for banks after Ramadan, Eid
Cairo – Mubasher: The Central Bank of Egypt (CBE) has adjusted banks' working hours to be from 9:00 a.m. to 4:00 p.m., effective from next week. Customers will be allowed entrance and service in bank branches, starting from 9:30 a.m. until 3 p.m., …
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
The Egyptian manpower minister Mohamed Saafan
25 May 03:06 PM Egypt disburses EGP 150m to regular workers amid COVID-19
Cairo - Mubasher: The Egyptian manpower minister, Mohamed Saafan, announced a new EGP 150 million package to support around 140,000 regular workers in 1,200 institutions. Saafan made the announcement during a video conference …
Abu Tartour Port in Safaga will be operated during Eid El Fitr holiday
25 May 02:17 PM Abu Tartour Port operated in Eid El Fitr to export phosphate
Cairo - Mubasher: The Egyptian Ministry of Trade and Industry has issued instructions to operate Abu Tartour Port in Safaga during Eid El Fitr to export 50,000 tonnes of phosphate. The trade and industry minister Neven Gamee was informed by one of …
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
The Egyptian Ministry of Finance
25 May 12:14 PM Egypt produces EGP 30m worth of coins per month - MoF
Cairo - Mubasher: The production capacity of denomination coins has increased by 50% to settle at EGP 30 million per month starting January, the Egyptian Ministry of Finance (MoF) announced on Monday. The ministry confirmed that the Egyptian Mint …
One of the stations will serve the residential areas
24 May 04:44 PM Egypt builds EGP 170m power transformers in 10th of Ramadan City
Cairo - Mubasher: Egypt's ministry of housing, utilities, and urban communities started the construction works of two power transformers of 11/66 kV in the 10th of Ramadan City at a total value of EGP 170 million. The Egyptian minister of housing …
Regulatory measures were taken to manage booking
24 May 03:04 PM ENR transports 2.6m last week - transport minister
Cairo – Mubasher: Egyptian National Railways (ENR) has transported around 2.6 million passengers last week, Egypt's transport minister Kamel El-Wazir announced in a statement issued on Sunday. The ministry has taken regulatory measures to …
The ministry aims to procure 3.6m tonnes
24 May 12:28 PM Egyptian government receives 3m tonnes of local wheat
Cairo - Mubasher: Egypt has obtained three million tonnes of the locally-cultivated wheat crop during the harvest season, Egypt's ministry of supply and internal trade announced on Sunday.  Minister Ali Al Moselhi confirmed that the local wheat …
Photo Credit: Saudi Press Agency (SPA)
24 May 11:29 AM Saudi Arabia to invest in Iraq’s Akkas gas field
Mubasher: Saudi companies plan to invest in Iraq’s Akkas gas field, as per a recent agreement between the two countries, Reuters reported. Both countries are also cooperating to ensure restoring the global oil market balance, in line with the …
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
HMM Algeciras containership's length is around 400 metres
24 May 10:29 AM World's largest container to cross Egypt's Suez Canal
Cairo - Mubasher: The Suez Canal will receive South Korea's HMM Algeciras, the world's largest containership, the Egyptian Ministry of Transport announced in a recent statement. The 24,000-TEU-class vessel will pass through the canal as after …
The market cap value lost EGP 1.1 billion
21 May 03:59 PM EGX ends Thursday mixed
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session on a varied note amid foreign selloffs and local and Arab purchases. The benchmark EGX30 index fell by 0.94%, ending the session at 10,109 points. Likewise, the EGX70 …
Sales retreated to EGP 789.1 million
21 May 03:16 PM Delta Sugar turns to losses in Q1-20 initial results
Cairo – Mubasher: Delta Sugar turned to losses during the first quarter of 2020, according to financial indicators. The company suffered net losses of EGP 118.78 million in the first three months of 2020, against net profits of EGP 70.49 million …
Total fatalities in Kuwait increased to 129 on Thursday
21 May 02:54 PM Kuwait registers 1,041 more COVID-19 cases on Thursday
Mubasher: Kuwait on Thursday reported 1,041 new infections of the coronavirus (COVID-19), bringing the total count to 18,609 cases, according to the country's health authorities. Total recoveries have increased by 320 in the past 24 hours to stand …
The company also plans to achieve direct premiums of EGP 566.5 million
21 May 02:43 PM Mohandes Insurance targets EGP 11.2.5m profit in FY20/21
Cairo – Mubasher: Mohandes Insurance announced that its board of directors approved the company’s estimated budget scheme for fiscal year 2020/2021. The insurer aims to register net profits of EGP 112.5 million in the coming fiscal year, according …
B Investments Holdings reported net profits of EGP 173.7 million in 2019
21 May 02:17 PM B Investments Holdings’ shareholders approve EGP 0.40/shr dividend for 2019
Cairo – Mubasher: B Investments Holdings announced that its shareholders approved the board’s proposal for cash dividends for 2019. The company’s shareholders to distribute EGP 0.40 per share or a total of EGP 64 million as cash dividends for last …
Egypt is expected to sell from $3 billion to $4 billion worth of bonds
21 May 02:09 PM Egypt markets 3-tranche dollar bonds
Cairo – Mubasher: Egypt started marketing US dollar-denominated bonds in three tranches with maturities of four, 12, and 30 years, Reuters reported on Thursday, citing a document from one of the banks leading the deal. The most populous Arab …