North africa news

Liquidity of EGX totalled EGP 399.23 million
18 minutes ago EGX’s indices close Sunday mixed
Cairo – Mubasher: The main index EGX30 of the Egyptian Stock Exchange (EGX) closed Sunday’s trading session 0.88% lower at 13,524.67 points. The EGX70 index of small and medium shares edged down 0.13% to 692.03 points. Meanwhile, the EGX100 index …
Swedish investments in the North African nation amounts to $133.5 million in 121 projects
1 hour ago Egypt-Sweden bilateral trade hits $541m in 8M
Cairo – Mubasher: Trade exchange between Egypt and Sweden reached $541 million in the first eight months of this year, the Egyptian trade minister said. Swedish investments in the North African nation amounts to $133.5 million in 121 projects in …
Sales shrank to EGP 9.8 million in the January-September period of 2018
2 hours ago Real Estate Consortium profit drops 71% in 9M
Cairo – Mubasher: Real Estate Egyptian Consortium on Sunday reported a 71.1% year-on-year decline in profits for the first nine months of 2018. Net profits retreated to EGP 7.4 million in the nine-month period ended September, from EGP 25.97 …
Trial operation at Heliopolis Metro will be carried out for almost two months
2 hours ago Egypt considers raising ticket prices of Cairo Metro’s new line
Cairo – Mubasher: The Egyptian transport ministry is mulling over increasing ticket prices of Cairo Metro’s latest line in a bid to cover maintenance costs, the transport minister said. The current prices of tickets for the old underground lines …
EGP mixed against FX currencies Sunday
2 hours ago EGP mixed against FX currencies Sunday
Cairo – Mubasher: The performance of the Egyptian pound was mixed on Sunday against foreign currencies at national and private banks. Abu Dhabi Islamic Bank – Egypt (ADIB) offered the highest US dollar rate at EGP 17.89 for buying and EGP 17.99 …
Net profit amounted to EGP 253.09 million in the three-month period ended September
2 hours ago AMOC’s profit falls 37% in 3M
Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) on Sunday reported a 37% year-on-year decline in profits for the first quarter of fiscal year 2018/2019. Net profit amounted to EGP 253.09 million in the three-month period ended September, from …
Cairo Leasing is one of Banque Du Caire’s investment arms
3 hours ago Cairo Leasing mulls raising financing to EGP 1.1bn
By: Islam Fadl Cairo – Mubasher: Cairo Leasing is looking to raise its existing financing to EGP 1.1 billion this year, the firm’s managing director and CEO said. These financings are being pumped into the industrial, real estate, and food …
The OGM will be held on 15 November to extend the maturity date of the $100 million revolving credit facility from VEON
3 hours ago EGX resumes trading on GTH
Cairo – Mubasher: The Egyptian Exchange (EGX) has resumed trading on Global Telecom Holding’s (GTH) stock after the company revealed the invitation of the ordinary general meeting (OGM) and the extraordinary general meeting (EGM). The OGM will be …
Sales rose to EGP 861.6 million in the January-September period of this year
3 hours ago Panda turns profitable in 9M
Cairo – Mubasher: The Arab Dairy Products Co. (Panda) on Sunday posted it has turned profitable in the first nine months of 2018, as compared with the same period last year. The company reported EGP 26.4 million in profits during the nine-month …
The transaction was implemented last Thursday through 12.9 million shares
3 hours ago Sidpec completes Alexandria for Sodium’s $3m share transfer deal
Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) on Sunday announced it has finalised the ownership transer deal for 20% shares from Alexandria for Sodium Carbonate Company at a value of $3 million. The transaction was implemented last …
The international bonds could be offered for sale at a range between $4 billion and $7 billion
4 hours ago Egypt eyes $4-7bn Eurobond issues in Q1-19
Cairo – Mubasher: The Egyptian government is looking to issue yen, yuan, and US dollar-denominated bonds in the first quarter of 2019. The international bonds could be offered for sale at a range between $4 billion and $7 billion, a government …
The board has agreed on the EGM’s proposal to look into applying the system
4 hours ago Qalaa Holdings OKs 8-yr motivation, reward system
Cairo – Mubasher: Qalaa Holdings’ board of directors has endorsed the details of an eight-year motivation and reward system for the company’s employees  starting from the date of getting the Financial Regulatory Authority’s (FRA) approval. The …
Edge Holding to invest EGP 20bn in New Administrative Capital, New Alamein
4 hours ago Edge Holding to invest EGP 20bn in 4 years across New Administrative Capital, New Alamein
By: Abdullah Bedeir Cairo – Mubasher: Edge Holding for Urban Development has unveiled plans to invest around EGP 20 billion ($1.116 billion) in projects across the New Administrative Capital and Al Alamein City, a top official has said. The …
Mobilink Bank has been evaluated at around $370 million
4 hours ago GTH unveils assets valuation of $3.6bn
Cairo – Mubasher: Global Telecom Holding (GTH) on Sunday said that New Street company, a financial advisor, has set the fair value of GTH's stocks in Bangladesh, Pakistan, and Mobilink Microfinance Bank at nearly $3.6 billion, according to a study …
The UAE is the key destination for Indian gold jewellery
5 hours ago India’s gold imports rise on new duty concerns
Mubasher: India’s gold imports witnessed a surprise hike in the last three-month period ended September on speculation that domestic jewellery manufacturers and traders are hoarding the yellow metal lest a further hike in gold import duty. India, …
Net profit amounted to EGP 119.6 million in the three-month period ended September
12:04 PM Juhayna Q3 profit hikes 83%
Cairo – Mubasher: Juhayna Food Industries on Sunday reported an 83% year-on-year increase in its consolidated profits for the third quarter of this year. Net profit amounted to EGP 119.6 million in the three-month period ended September, up from …
The telecom firm has incurred losses of EGP 234.9 million in the nine-month period ended September
11:53 AM Orange Egypt incurs EGP 234.9m loss in 9M
Cairo – Mubasher: Orange Egypt for Telecommunication reported an 87% year-on-year drop in consolidated losses during the first nine months of 2018 on the back of a growth in sales. The telecom firm has incurred losses of EGP 234.9 million in the …
EGX opens Sunday on mixed note
11:47 AM EGX opens Sunday on mixed note
Cairo – Mubasher: The Egyptian Exchange (EGX) opened Sunday’s trading session on a mixed note. By 10:25 am Cairo time, the benchmark EGX 30 index fell 0.94% to 13,644.16 points. The small- and mid-cap EGX70 index edged up 0.04% to 750.05 points, …
The CBE has increased key interest rates by 300 basis points following the flotation of the Egyptian pound
10:58 AM Banque Du Caire nets $22bn in 22M
By: Islam Fadl Cairo – Mubasher: Banque Du Caire’s US dollar proceeds exceeded $22 billion since the liberalisation of the exchange rate, the lender’s vice chairman said. Egypr’s third-largest state-owned bank is currently working on raising the …
The benchmark EGX30 index has resistance at 13,900 points and has support at 13,500 points
10:48 AM EGX to be volatile this week - Analysts
Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to maintain the volatile performance during the fourth week of October, analysts told Mubasher. The indices of the Egyptian bourse is expected to hover around 13,800 points to 13,200 points, …
CBE issues EGP 18bn T-bills Sunday
10:31 AM CBE issues EGP 18bn T-bills Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18 billion on Sunday on behalf of the Ministry of Finance (MOF). The first tranche of T-bills will be offered through 91-day notes at EGP 9.5 billion, …
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20 October 11:26 PM ELAB to pump EGP 100m into SMEs
By: Eslam Fadl Cairo – Mubasher: The Egyptian Arab Land Bank (ELAB) targets financing small and medium projects by EGP 100 million.  The bank’s chairman Amr Kamal told Mubasher that the bank has recently launched its first product for small and …
19 October 11:36 PM Kaplan: 2 or 3 interest hikes will be neutral
Dallas Federal Reserve President Robert Kaplan expressed on Friday his support for more interest hikes by American monetary policymakers
19 October 11:33 PM Carney: Fed raising interest for good reasons
The Governor of the Bank of England, Mark Carney said on Friday that the United States Federal Reserve is raising interest rates for valid reasons
19 October 11:28 PM Oil narrows weekly losses
Crude inventories in the United States rose by 6.5 million barrels last week