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39 minutes ago ADX teams up with Eureeca to expand IPOs globally
UAE – Mubasher: Abu Dhabi Securities Exchange (ADX) partnered with Eureeca, a global investment platform with a presence in Europe, to expand access to global investors to initial public offerings (IPOs) ADX and Eureeca will build on the …
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18 March 06:21 PM World Bank plans to support Egypt with over $6bn for different channels
Cairo – Mubasher: The World Bank Group intends to provide Egypt with more than $6 billion of support over the coming three years, subject to the board’s approval. The financial assistance includes $3 billion to support the Egyptian government’s …
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18 March 04:27 PM EGX closes Monday with negative performance
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed Monday’s trading session in the red zone, with the EGX30 main index plunging by 6.34% to 29,091.29 points. The small- and mid-cap EGX70 EWI fell by 7.85% to 6,284.57 …
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18 March 04:20 PM Egypt-EU bilateral trade exceeds $31bn in 2023
Cairo – Mubasher: The value of trade exchange between Egypt and the European Union (EU) dropped by 19.20% year-on-year (YoY) to $31.20 billion in 2023 from $38.60 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) data …
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18 March 03:30 PM Madinet Masr considers purchase of 400 feddans in North Coast – CEO
By Abdullah Bedir Cairo – Mubasher: Madinet Masr Housing and Development is seeking to acquire massive land in Egypt’s North Coast at a minimum area of 400 feddans, stated Abdallah Sallam, the company’s president and CEO. Sallam revealed on the …
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18 March 03:27 PM EFG Hermes completes advisory on Cenomi Retail’s sale deal
Mubasher: EFG Hermes, an EFG Holding Company concluded advisory on a merger and acquisition (M&A) deal for Cenomi Retail, according to a press release. The retail giant plans to sell a select portfolio of brands to Abdullah Al Othaim Fashion …
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18 March 02:01 PM Ooredoo, e& team up to evolve submarine network in Middle East
Abu Dhabi – Mubasher: e& and National Mobile Telecommunications Company (Ooredoo) partnered to deploy the subsea latest technology enabling the Gulf Gateway Cable (GGC1) system, according to a press release. The two entities will join forces to …
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18 March 01:20 PM Madinet Masr Innovation Labs unveils Theqa property warranty solution
Cairo – Mubasher: Madinet Masr Innovation Labs, the innovation arm of Madinet Masr Housing and Development, has launched a new property warranty solution under the name of “Theqa”. The new solution is designed to replace maintenance deposits, …
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18 March 12:25 PM Modern Gas develops SAR 2m subsidiary in Saudi Arabia
Cairo - Mubasher: The Modern Gas Company established a subsidiary in Saudi Arabia to work in the field of natural gas, under the name Modern Gas Saudi Arabia, according to an official statement. The newly established subsidiary has an initial …
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18 March 11:46 AM CBE issues T-bonds worth EGP 3.25bn on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 3.25 billion on Monday, 18 March 2024, through two auctions. The first issue was valued at EGP 3 billion, holding a three-year tenor until 19 March 2027, …
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17 March 03:49 PM Egypt to achieve $26.5bn funding surplus over 4 years – Goldman Sachs
Cairo – Mubasher: Egypt's medium-term financing outlook is set to improve dramatically, with a projected surplus of $26.50 billion over the next four years, compared to a previous deficit of $13 billion. This positive shift is attributed to …
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17 March 03:40 PM EGX shows negative performance on Sunday
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) ended Sunday’s trading session in the red zone after the EGX30 main index went down by 0.81% to 31,061.88 points. Likewise, the EGX70 EWI and EGX100 EWI closed the session lower by 0.94% …
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17 March 02:34 PM Kima forecasts EGP 821m net profit in FY24/25
Cairo – Mubasher: Egyptian Chemical Industries (Kima) is expecting to achieve a net profit of EGP 821.13 million during the fiscal year (FY) 2024/2025. The company aims to generate EGP 6.72 billion in net sales in FY24/25, according to the …
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17 March 01:49 PM Cleopatra Hospitals Group’s consolidated profit hits EGP 470m in 2023; dividends ratified
Cairo – Mubasher: Cleopatra Hospitals Group posted a consolidated net profit after tax of EGP 469.29 million in 2023, up from EGP 356.73 million a year earlier. Consolidated revenues surged to EGP 3.59 billion last year from EGP 2.58 billion in …
Ahmed Hemmat, JLL’s new Head of Project and Development Services (P&DS) in Egypt
17 March 01:00 PM JLL names Hemmat as new head of P&DS in Egypt
Cairo – Mubasher: Ahmed Hemmat was appointed as JLL’s new Head of Project and Development Services (P&DS) in Egypt, according to a press release. Hemmat has more than 20 years of experience in the construction and mixed-use development sector, …
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17 March 12:08 PM Raya Holding’s IT arm considers acquisition of outsourcing company
Cairo – Mubasher: Raya Information Technology, a subsidiary of Raya Holding for Financial Investment, is studying the acquisition of a company. The targeted company is operating in outsourcing and application development, according to a bourse …
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17 March 11:43 AM CBE issues EGP 50bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through equal two offerings on Sunday, 17 March 2024. The two tranches amounted to EGP 25 billion, with a varied maturity …
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14 March 03:42 PM EGX indices rebound on Thursday; market cap hits over EGP 2bn
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed in the green territory on Thursday, rebounding losses on Wednesday. The benchmark index, EGX30, grew by 0.98% to 31,316.43 points. The small- and mid-cap EGX70 EWI also increased …
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14 March 02:57 PM Orascom Development boosts growth plans via leadership changes in Europe
Cairo – Mubasher: Orascom Development unveiled strategic leadership changes for its European destinations, including Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro, and ECOBOS in the UK. Maher Maksoud will be the CEO of ECOBOS, …
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14 March 12:39 PM CBE unveils EGP 60bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 60 billion through two auctions on Thursday, 14 March 2024. Each tranche stood at EGP 30 billion, according to the CBE’s official data. …
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14 March 11:41 AM Paklaunch eyes regional expansion via new funding round
Mubasher: Paklaunch has closed its seed funding round with undisclosed value to boost the startup ecosystem in Pakistan and the GCC region, according to a press release. The fundraising was led by Disrupt.com with the participation from Indus …
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13 March 05:03 PM Emirates NBD-Egypt launches new branch in Qena
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, opened its newest branch in Qena Governorate within its expansion strategy to offer a comprehensive scope of services, according to a press release. The inauguration …
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13 March 03:27 PM EGX’s indices close Wednesday in red zone
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) ended Wednesday’s trading session with a negative performance, as the EGX30 main index plummeted by 5.04% to 31,013.88 points. The small- and mid-cap EGX70 EWI also fell by 3.40% to …
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13 March 02:44 PM EU readies EUR 7.4bn financial package for Egypt
Cairo – Mubasher: The European Union (EU) is preparing a financial aid package of EUR 7.4 billion for Egypt in the shape of grants and loans through 2027. Around EUR 1 billion are set to be disbursed immorality, while EUR 4 billion is tied to …
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13 March 01:49 PM EFG Finance obtains FRA’s licence to launch financial services firm for SMEs
Cairo – Mubasher: EFG Finance, the non-bank financial institutions (NBFI) arm of EFG Holding, has received a license from the Financial Regulatory Authority (FRA) to establish a new subsidiary. The new subsidiary will provide financial services to …