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European countries accounted for the largest number of foreign employees
5 hours ago Number of foreign employees at Egypt’s public, government sectors drops 15.6% in 2020
Cairo – Mubasher: The number of foreign employees at the government and public business sectors fell by 15.6% to 1,172 in 2020, compared to 1,388 in 2019, according to data by the Central Agency for Public Mobilization and Statistics (CAPMAS). The …
The market cap will increase again upon the listing of the capital raise shares
05:12 PM Fawry's market cap down EGP 16.1bn as rights issue cancelled
Cairo – Mubasher: The Egyptian Exchange (EGX) announced the cancellation of the rights issue of Fawry for Banking Technology and Electronic Payments after the end of the subscription period of the rights issue. Accordingly, the company’s market …
The transactions involved 7.685 million shares
04:50 PM EGX executes Taaleem's price stabilisation transaction at EGP 44m
Cairo – Mubasher: The Egyptian Exchange (EGX) announced the execution of transactions on the shares of Taaleem Management Services through the price stabilisation mechanism at a value of EGP 44.188 million. The transactions involved 7.685 million …
The market’s turnover amounted to EGP 1.66 billion
04:27 PM EGX ends Tuesday in green; market cap grows EGP 8bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a positive note on the back of local and Arab purchases. The main EGX30 index rose by 1% to close at 10,780 points, while the small- and mid-cap EGX70 climbed by …
The 21-karat gold reached EGP 800 per gram on Tuesday
04:03 PM Gold prices in Egypt rise more than EGP 10/gram in two days
Cairo – Mubasher: Gold prices in Egypt have witnessed an upward trend since the beginning of this week, supported by the gains of the precious metal globally.  Nady Naguib, Secretary of the gold division at the Federation of Egyptian Chambers of …
Egyptian companies will also take part in the reconstruction efforts
03:46 PM Egypt allocates $500m for reconstruction efforts in Gaza
Cairo – Mubasher: President Abdel Fattah El-Sisi has ordered the allocation of $500 million as part of an Egyptian initiative for reconstructing the Gaza Strip, following Israeli air strikes. Egyptian companies will also take part in the …
Minister of Finance, Mohamed Maait
02:06 PM Egypt proposes financing methods for repaying debt, buying vaccines in Africa
Cairo – Mubasher: The Minister of Finance, Mohamed Maait, affirmed that Africa has great developmental potential, but needs credit and development facilities to return to pre-pandemic growth levels. On the sidelines of his participation in Paris …
Saudi Arabia reopened borders on 17 May
01:53 PM First flight form Hail International Airport heads to Cairo
Riyadh – Mubasher: Saudi Arabia’s Hail International Airport witnessed on 18 May the operating of its first international flight that took off to Cairo in Egypt, following the reopening of the Saudi borders a day earlier, according to the Saudi …
The country’s holding of US Treasuries grew to $2.248 billion in March
01:27 PM Egypt’s holding of US Treasuries rises to highest level in nine months
By: Heba El-Kordy Cairo – Mubasher: Egypt’s holding of US Treasuries levelled up to its highest level since June 2020, registering the first increase in four months. The country’s holding of US Treasuries grew to $2.248 billion in March, compared …
Speed Medical aims to acquire 25.01% of Digital Wellnez Software
01:00 PM Speed Medical to set up new consumer financing firm
Cairo – Mubasher: The board of directors of Speed Medical Company approved the establishment of Speed Finance, the first to be specialised in financing medical and pharmaceutical services in Egypt. The company will be established with a capital of …
The transaction involved the trading of 21.6 million shares
12:16 PM Integrated Diagnostics Holdings sees EGP 371.5m block-trading deal
Cairo – Mubasher: The Egyptian Exchange (EGX) announced the execution of a block-trading transaction on the shares of Integrated Diagnostics Holdings (IDH) at a value of EGP 371.54 million. The transaction involved the trading of 21.6 million …
The capital raise was led by MSA Capital and Nuwa Capital
12:11 PM Egypt's Homzmart secures $15m in Series A financing
Cairo - Mubasher: Egypt-based Homzmart, an online furniture and home goods platform, has raised $15 million in Series A financing, which is the largest capital raise in the Middle East’s online furniture sector. The capital raise was led by MSA …
A total of EGP 4.371 billion has been invested in New Assiut City
12:02 PM Ministry of Housing invests EGP 17.3bn in Assiut since 2014
Cairo – Mubasher: The Egyptian Ministry of Housing has invested EGP 17.307 billion in Assiut Governorate since President Abdel Fattah El-Sisi took office in 2014. These investments have been directed into the implementation of developmental and …
Al Ezz Holding Group Industry and Investment reduced its stake to 33.41%
11:33 AM Ahmed Ezz ups stake in Ezz Steel for $81m
Cairo – Mubasher: The Egyptian businessman Ahmed Abdel Aziz Ezz has raised his stake in Ezz Steel to 32.29% from 27.3%. Ezz purchased 9.039 million global depositary receipts, equivalent to 27.11 million local shares owned by Al Ezz Holding Group …
The sales increased to EGP 1.3 billion in the January-March period
10:51 AM Sidpec turns profitable in Q1-21 on higher sales
Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) turned to net profits of EGP 151.74 million during the first quarter (Q1) of 2021, versus net losses of EGP 31.28 million in the year-ago period. The sales increased to EGP 1.3 billion in the …
The issuance will be used to finance the country’s budget deficit
10:42 AM CBE offers EGP 29bn T-bills, bonds on Tuesday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 29 billion on Tuesday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes worth EGP 10.5 …
The company’s revenues slid to EGP 413.83 million
17 May 06:01 PM Contact Financial Holding logs EGP 115m profit in Q1
Cairo – Mubasher: Contact Financial Holding achieved net profits of EGP 114.77 million in the first quarter (Q1) of 2021, up by 22.38% year-on-year (YoY) from EGP 93.78 million, including minority shareholders’ rights. The company’s revenues slid …
The value of the global Sukuk market reached $2.7 trillion
17 May 05:40 PM Egypt’s Senate preliminarily approves draft law on sovereign Sukuk
Cairo – Mubasher: Egypt’s Senate approved in principle a draft law on the issuance of sovereign Sukuk, the Middle East News Agency (MENA) reported on Monday. The law will regulate the issuance of sovereign bonds in compliance with the Islamic …
The market cap value dropped by EGP 527.08 million
17 May 05:11 PM EGX ends Monday mixed
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session on a varied note amid foreign selloffs and local and Arab purchases. The main EGX30 index fell by 0.87% to end at 10,674 points as the heavyweight Commercial …
This step is in line with the company's plan to expand in educational projects
17 May 04:58 PM CIRA acquires land to build new school in New Qena City
Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) announced that it has acquired a land plot over an area of 11,184 square metres (sqm) in New Qena City. The land plot has been allocated for the establishment of a school …
17 May 04:45 PM AT&T inks $43bn deal to combine WarnerMedia with Discovery
AT&T has entered into a definitive agreement to merge its WarnerMedia assets with Discovery.
Bilateral trade between the two countries reached $2.2 billion in 2020
17 May 04:14 PM French investments in Egypt grow 18% in FY19/20 – CAPMAS
Cairo – Mubasher: The value of French investments in Egypt rose by 17.9% year-on-year (YoY) to $349 million during fiscal year (FY) 2019/2020, compared to $296.1 million in FY18/19, according to data released by the Central Agency for Public …
Seera will be the exclusive partner of Klook in the Kingdom
17 May 03:57 PM Seera, Klook to boost digital transformation of tourism sector
Riyadh – Mubasher: Seera Group has entered into a strategic partnership with travel and leisure booking platform Klook to enhance the digital transformation and growth of Saudi Arabia’s tourism sector, according to a press release on Monday. Seera …
The revenues rose to EGP 6.82 billion in the three-month period
17 May 03:55 PM GB Auto's profit hikes 62% in Q1
Cairo – Mubasher: Ghabbour Auto (GB Auto) reported a 62% year-on-year (YoY) growth in its consolidated net profits to EGP 349.52 million in the first quarter (Q1) of 2021, compared to EGP 216.15 million, including minority shareholders’ rights. …
The initial losses are estimated at about EGP 15 million.
17 May 02:15 PM Dice's Alexandria Clothing Company hit by fire
Cairo – Mubasher: Dice Sport and Casual Wear announced that its wholly-owned subsidiary Alexandria Clothing Company was hit by fire on Sunday. The fire caused damages to some textile machines and materials which are totally insured by Mohandes …