North africa news

The United Arab Emirates Minister of Energy Suhail Al Mazroui
21 July 04:06 PM UAE hopes oil markets will tighten in H2-17
Mubasher: The United Arab Emirates Minister of Energy, Suhail Al Mazroui, told Reutuers on Friday that he hopes global supplies will start tightening in the second half of the year when demand picks up. "We have seen healthy demand and a …
The Ministry of Finance
21 July 03:42 PM Egypt to issue debt instruments worth EGP152bn in August
Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) intends to issued debt instruments worth EGP 151.5 billion in the upcoming month, with an increase of 26.5% year-on-year, compared to EGP 119.73 billion in August 2016. The ministry noted in …
The chairman of Egypt Kuwait Holding Company met with the Minister of Investment and International Cooperation Sahar Nasr
21 July 12:21 PM EKH to raise investments in Egypt - Chairman
Cairo - Mubasher: The chairman and managing director of Egypt Kuwait Holding Company (EKH), Al Moataz Al Alfi, said that he intends to increase his investments in the upcoming period. Al Alfi added during his meeting with the Egyptian minister of …
The Organization of the Petroleum Exporting Countries (OPEC)
21 July 11:34 AM OPEC meeting to review output cut levels - Minister
Mubasher: A meeting will be held on Monday in Saint Petersburg, Russia, as members of the Organization of the Petroleum Exporting Countries (OPEC) alongside non-OPEC major producers will assess conformity with a recent output cut resolution. Oil …
Kuwaiti crude oil prices reached $46.51 per barrel on Thursday
21 July 11:23 AM Kuwait oil up $0.74
Kuwait - Mubasher: The price of Kuwaiti oil went up by 74 cents on Thursday, according to the Kuwait Petroleum Corporation (KPC). Prices reached $46.51 per barrel (pb) yesterday, compared to $45.77 pb on the day before, Kuwait News Agency (KUNA) …
The International Monetary Fund
21 July 11:13 AM IMF approves EUR1.5bn loan for Greece
Mubasher: The International Monetary Fund (IMF) announced on Thursday that it has approved in principle a loan of EUR 1.6 billion ($1.8 billion) for Greece, according to a press release. The agreement will only become effective after the IMF …
Market capitalisation dropped by EGP 3.17 billion
20 July 07:14 PM EGX losses EGP 3.2bn in a week
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices dropped collectively in the week ended Thursday, 20 July, on the back of selling pressures from Arab investors. The benchmark EGX30 index shed 0.78% or 107.53 points to the level of 13,715 …
EGX indices rose at Thursday’s close amid domestic buying versus Arab and foreign selling
20 July 06:54 PM EGX indices close on negative note Thursday
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices rose at Thursday’s close amid domestic buying versus Arab and foreign selling. The benchmark EGX30 index inched up 0.06% or 7.93 points to close at 13,715.06 points, backed by a limited …
ROI from subsidiaries reached EGP 106 million by the end of the fiscal year 2016/17
20 July 06:24 PM Holding Co. For Maritime eyes EGP 1.3bn investments in 2017/18 - Chairman
By: Fahd Omran Cairo – Mubasher: The Holding Co. For Maritime & Land Transport, a public sector company, forecasts its real estate investments will rise to EGP 1.3 billion by the end of the fiscal year 2017/18. The return on investments (ROI) from …
The bank’s balance sheet has become more flexible
20 July 01:00 PM CIB posts higher profits in H1
Cairo – Mubasher: Commercial International Bank – Egypt (CIB) posted a 29.2% year-on-year rise in its profits during the first half of 2017, according to a bourse statement. Profits reached EGP 3.58 billion in H1-17, compared to EGP 2.75 billion …
UAE Energy Minister Suhail Bin Mohammad Al Mazroui
20 July 09:15 AM UAE has no desire to develop rift with Qatar – Minister
Abu Dhabi – Mubasher: Saudi Arabia, UAE, Bahrain, and Egypt do not want to develop the situation regarding Qatar-Gulf rift, Ypnhap news agency quoted UAE Energy Minister Suhail Bin Mohammad Al Mazroui as saying. “We look forward to resolve Qatar's …
Traders at Boursa Kuwait
20 July 07:51 AM Investors likely to build new positions in GCC stocks
By: Mahmoud Gamal Mubasher: Investors are expected to build up new positions in GCC listed stocks on Thursday, in line with the announcements of first-half financials which are expected to improve amid higher oil prices, analysts told Mubasher. …
Orange to establish customer service centre in Assiut
19 July 08:23 PM Orange to establish customer service centre in Assiut
Cairo – Mubasher: France-based, Orange SA planned to invest in the new technology parks, including Assiut Technology Park in Egypt to establish a customer service centre in Upper Egypt's governorate. Orange agreed with Yasser ElKady, Egypt’s …
The Egyptian Exchange
19 July 04:04 PM EGX closes on negative note Wednesday
Cairo – Mubasher: The benchmark EGX30 index of the Egyptian Exchange (EGX) fell at Wednesday’s close by 0.08% or 10.4 points to the level of 13,707.13 points. Similarly, the EGX70, EGX100, and EGX50 indices declined by 0.25%, 0.10%, and 0.23%, …
The Egyptian Exchange
19 July 11:59 AM EGX30 loses 33 pts at open
Cairo – Mubasher: The benchmark EGX30 index of the Egyptian Exchange (EGX) declined in Wednesday’s early trading by 0.24% or 33 points to the level of 13,684.5 points. The EGX50 index also retreated 0.41%, while the EGX70 and EGX100 indices rose …
The Egyptian government is working at increasing Egyptian exports
18 July 09:53 PM Egypt supports private sector partnerships in agriculture - FAO
By: Ahmed Abd Elrady Cairo - Mubasher: The Food and Agriculture Organization of the United Nations (FAO) said that the Egyptian government is expanding partnerships with the private sector to elevate the agriculture sector. The FAO representative …
The bank's capital total EGP 11.61 billion
18 July 06:42 PM CIB approves capital hike through bonus shares
By: Ahmed Allam Cairo - Mubasher: The ordinary general meeting (OGM) of the Commercial International Bank - Egypt (CIB) has approved raising the company’s capital from EGP 11.6 billion to EGP 14.52 billion. The capital hike will be funded from the …
The Egyptian Prime Minister, Sherif Ismail
18 July 06:25 PM Egypt agrees 10% social allowance with private sector
Cairo - Mubasher: The Egyptian Ministry of Manpower and Immigration has signed an agreement with Egypt Trade Union Federation (ETUF) and representatives of business owners, to pay those working in the private sector a 10% social allowance. The …
The Central Bank of Egypt
18 July 06:20 PM 2nd tranche of IMF loan received by CBE
Cairo - Mubasher: The second tranche of the International Monetary Fund’s (IMF) loan to Egypt, $1.25 billion, has entered the Central Bank of Egypt’s (CBE) accounts on Tuesday, a banking source told the Middle East News Agency (MENA). The source …
Losses amounted to EGP 24.3 million in the six-month period that ended 30 June 2017
18 July 05:54 PM Americana Egypt turns to losses in H1-16
Cairo - Mubasher: The financial indicators of the Egyptian Company for International Tourism Projects (Americana Egypt) have showed losses of EGP 24.3 million in the first half of the year versus profits of EGP 62.1 million in H1-16. The company …
The Egyptian Exchange
18 July 04:03 PM EGX30 down 1.7% at Tuesday’s close
Cairo - Mubasher: The Egyptian Exchange (EGX) ended Tuesday’s trading session in red, pressured by the selling activity of Arab and foreign investors. The main index EGX30 lost 1.71% or 140.55 points, and closed at the level of 13,717.53 points. …
Pioneers owns a controlling stake of 60% of Rooya’s shares
18 July 02:11 PM Pioneers Holding OKs Rooya listing on EGX
Cairo – Munasher: Pioneers Holding Company for Financial Investment’s board of directors have approved the listing of Rooya Group on the Egyptian Exchange (EGX). Pioneers owns a controlling stake of 60% of Rooya’s shares, which it acquired for EGP …
EFG Hermes will own 50% stake in FIM
18 July 01:10 PM EFG Hermes UAE acquires 50% stake in FIM
Abu Dhabi – Mubasher: EFG Hermes UAE, a wholly owned subsidiary of Egypt-based EFG Hermes Holding, inked definitive agreements to invest $21.5 million in Frontier Investment Management Partners (FIM). EFG Hermes will own 50% stake in FIM, while …
The Egyptian Exchange
18 July 12:39 PM EGX indices fall in early trade
Cairo – Mubasher: The Egyptian Exchange’s (EGX) fell collectively in Tuesday’s early trading, pressured by selling activity by foreign and Arab traders. By 11:30am Cairo time, the benchmark EGX30 index declined 0.16% or 22.2 points to the level of …
Standalone losses amounted to EGP 240.7 million in Q1-17
18 July 11:04 AM Ezz Steel Q1 losses worsen 109%
Cairo – Mubasher: Ezz Steel’s consolidated losses for the first quarter of fiscal year 2017 deepened by 109.4% to EGP 492.9 million, compared to EGP 235.6 million for Q1-16. Sales increased in Q1-17 to EGP 8.1 billion from EGP 4.9 billion in …