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The offering attracted $3.7 billion worth of bids for the bonds
40 minutes ago Egypt sells $750m green bonds at 5.25% yield
Cairo – Mubasher: Egypt’s Ministry of Finance sold $750 million in five-year green bonds at a yield of 5.250% on Tuesday as the first sovereign offering of green bonds in the MENA region. The issuance was 7.4 times oversubscribed than the initial …
The Late Sheikh Sabah Al Ahmad Al Jaber Al Sabah
29 September 07:44 PM Emir of Kuwait passes away aged 91 years
Mubasher: The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Jaber Al Sabah has passed away on Tuesday, at 91 years of age. The late Emir has ruled Kuwait since 2006, before that he was the Minister of Foreign Affairs for around four decades. "With …
The market’s turnover registered EGP 1.48 billion
29 September 05:29 PM EGX30 nears 11K pts at Tuesday’s close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a varied note amid local and Arab purchases and foreign selloffs. The benchmark EGX30 index rose by 0.16% to register 10,987 points, while the small- and mid-cap …
The winning bidder will be awarded a 15-year renewable contract
29 September 05:19 PM Egypt launches tender for developing sound, light area at Giza Pyramids
Cairo – Mubasher: Misr Company for Sound, Light, and Tourism Development, a subsidiary of the Holding Company for Tourism and Hotels, has launched a sealed-envelope tender for the development and management of sound and light shows at the pyramids …
29 September 05:02 PM Nokia reaches 5G equipment deal with BT
Nokia has inked a 5G deal with BT to become BT’s largest equipment provider, extending its long-term strategic partnership with Britain's biggest telecoms group.
Pensions can be disbursed from 10,000 ATMs
29 September 04:40 PM Egypt disburses EGP 25bn in pensions, second batch of overdue bonuses
Cairo – Mubasher:  A total of 2.4 million pensioners will begin receiving the second batch of the five overdue bonuses starting from Thursday, 1 October, the Middle East News Agency (MENA) reported on Tuesday, citing the Chairman of the National …
29 September 04:21 PM Walmart eyes $20-25bn investment in Tata’s super app
Mubasher: Walmart Inc is in negotiations with Tata Group over an investment of $20-25 billion in the Indian conglomerate’s proposed super app.
29 September 03:47 PM Musk intends IPO for SpaceX's Starlink business in several years
Elon Musk intends to list Starlink, SpaceX’s space internet venture, several years in the future when revenue growth is smooth and predictable.
Egyptian exports to Belarus retreated to $13.9 million
29 September 03:29 PM Egypt-Belarus trade exchange hits $45.7m in H1
Cairo – Mubasher: Bilateral trade between Egypt and Belarus reached $45.75 million during the first half (H1) of 2020, the Middle East News Agency (MENA) reported on Tuesday, citing the Belarusian Ambassador to Egypt, Sergei Terentyev, as saying. …
The finance ministry aims to replace 5 million payroll cards with Meeza cards
29 September 02:11 PM Egypt to replace 28K gov’t payroll cards with Meeza in October
Cairo – Mubasher: Egypt will issue 28,000 national e-payment Meeza cards for state employees to receive their salaries in October, the Minister of Finance, Mohamed Maait, said. Meeza cards can be used for cash withdrawals from ATMs, online …
Egypt has portfolio of eligible green projects worth $1.9 billion
29 September 01:05 PM Egypt markets five-year dollar green bonds
Cairo – Mubasher: Egypt began marketing the MENA’s first sovereign green bonds at about 5.75%, Reuters reported on Tuesday, citing a document. The value of the five-year US dollar bonds is expected to be at least $500 million. Proceeds from the …
The target company’s shares will be delisted upon the execution of the transaction
29 September 12:46 PM Suez Cement to fully acquire Tourah Portland Cement
Cairo – Mubasher: The board of Suez Cement decided to submit an offer to acquire up to 100% of the issued capital of Tourah Portland Cement Company for EGP 7.18 per share. The target company’s shares will be delisted from the Egyptian Exchange …
Credit Agricole - Egypt logged net profits of EGP 701.01 million in H1
29 September 12:01 PM Credit Agricole Egypt clarifies news on Banque Saudi Fransi stake sale
Cairo – Mubasher: Credit Agricole - Egypt clarified news reports about the sale of a stake in Banque Saudi Fransi (BSF). The lender said Credit Agricole France is the one that conducted the sale transaction not its unit in Egypt, according to a …
The deal was announced during the Global Aerospace Summit
29 September 12:00 PM Sanad, Etihad Airways expand $900m partnership
UAE - Mubasher: Sanad, a leader in aerospace engineering and leasing solutions, has inked a new deal with Etihad Airways to provide the UAE's national carrier with a new spare engine, according to the Emirates News Agency (WAM). The deal between …
Provisions have been increased to EGP 49 million this year
29 September 11:37 AM Sarwa Capital's expansion plans not affected by COVID-19 - Interview
By: Islam Fadl Cairo – Mubasher: Sarwa Capital Holding for Financial Investments has managed to obtain the first consumer financing licence in Egypt and be officially authorised as the first consumer financing company at traffic departments, the …
The estimated investment cost of the project is EGP 1.6-1.9 billion
29 September 11:06 AM CI Capital's Taaleem inks deal to establish university in Badya
Cairo – Mubasher: Taaleem Management Services Company, a minority-owned investment of CI Capital Holding for Financial Investments, signed a shareholder agreement with Palm Hills Developments  (PHD) to build a university in PHD’s flagship project …
The gold pound is priced at EGP 6,504
28 September 05:58 PM Gold prices in Egypt continue to drop
Cairo – Mubasher: Gold prices continued to decline in the Egyptian market on Monday, pressured by lower global prices of the precious metal, Ehab Wassef, Deputy Head of the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC), …
The market’s turnover amounted to EGP 1.2 billion
28 September 05:16 PM EGX ends Monday varied; market cap gains EGP 1.58bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s trading session on a mixed note amid local and Arab purchases and foreign selloffs. The main EGX30 index rose by 0.62% to end at 10,969 points, while the small- and mid-cap EGX70 EWI …
Revenues grew to EGP 77.16 million in the January-June period
28 September 04:53 PM Egyptian Resorts Co turns profitable in H1-20
Cairo – Mubasher: The Egyptian Resorts Co turned to net profits of EGP 23.64 million during the first half (H1) of 2020, versus net losses of EGP 12.83 million in the year-ago period, including minority shareholders’ rights. Revenues grew to EGP …
October 6th University
28 September 04:30 PM Suez Canal Technology requests EGP 250m refund from Misr Insurance
Cairo – Mubasher: Suez Canal Company for Technology Settling requested a refund of EGP 250 million paid by its 99.68%-owned October 6th University in 2017 and 2018 to Misr Insurance Company. The payments were part of an invalid agreement signed …
Governorates in Upper Egypt came in the first position
28 September 03:59 PM Mashroak finances 154K projects with EGP 15.4bn
Cairo – Mubasher: The Egyptian National Programme for Community, Human, and Local Development (Mashroak) has financed about 4,000 projects with more than EGP 716 million in August, the Minister of Local Development, Mahmoud Shaarawy, said. These …
About 48.3 million shares were sold at SAR 30 riyals on Sunday.
28 September 03:12 PM Credit Agricole sells final stake in Banque Saudi Fransi for $386m
Riyadh – Mubasher: Credit Agricole sold on Sunday the final portion of its stake in Banque Saudi Fransi (BSF), bringing to an end the French lender’s decades long investment in one of the largest Saudi corporate banks, Bloomberg reported citing a …
Shareholders will receive EGP 0.144 a share
28 September 02:21 PM Cairo Investment’s shareholders approve EGP 84m dividends
Cairo – Mubasher: The ordinary general meeting (OGM) of Cairo for Investment and Real Estate Development (CIRA) approved a cash dividend distribution of EGP 84 million. Shareholders will receive EGP 0.144 a share to be financed from the retained …
FRA raised the limit of mortgage finance granted to each investor
28 September 01:38 PM FRA reveals EGP 2.38bn mortgage finance companies operating in Egypt
Cairo – Mubasher: The number of mortgage finance and refinance companies in Egypt reached 14 firms with a total issued capital of EGP 2.384 billion at the end of the second quarter (Q2) of 2020, the Chairman of the Financial Regulatory Authority …
The net distributable profit reached EGP 5.28 billion
28 September 12:36 PM Eastern Co's board proposes EGP 1.4/shr dividend for FY19/20
Cairo – Mubasher: The board of Eastern Co recommended a cash dividend distribution of EGP 1.40 per share for fiscal year 2019/2020. The proposal has been referred to the company’s shareholders for approval, the tobacco manufacturer said in a …