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19 June 11:25 PM Lower US stockpiles pressure oil at Wednesday’s finish
Mubasher: Oil futures ended in the red territory on Wednesday, as US data showed lower crude oil inventories.
19 June 09:49 PM Gold levels down at Wednesday’s settlement
Mubasher: Gold ended lower on Wednesday after Fed decided to maintain interest rates.
19 June 09:35 PM Fed holds interest rates, pledges to closely monitor economy
Mubasher: The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain interest rates in the range of 2.25% to 2.5%.
Foreigners held $5bn of Egypt's debt instruments in 5M
19 June 09:04 PM Foreign holdings of Egypt’s debt instruments equal $17bn in May
By: Islam Fadl Cairo – Mubasher: Foreign holdings of Egyptian debt instruments reached $5 billion from January to the end of May, board member of the Central Bank of Egypt (CBE) Fakhry El Fekki told Mubasher. At the end of May, total foreign …
OPEC's members and allies will meet on 1 and 2 July
19 June 07:51 PM UAE backs extension of oil output cut agreement – Minister
UAE – Mubasher: The UAE is supporting the extension of OPEC+ output cut agreement, energy minister Suhail Al Mazroui said. The extension is required due to the increase in the inventories of some counties, especially the US, he added, according to …
19 June 07:00 PM US considers sanctions against Turkey over S-400 missile deal– Report
Mubasher: The US administration was weighing three various rounds of sanctions against Turkey over Ankara’s purchase of Russian missile defence systems, Bloomberg reported.
The decision will remain in effect for three years
19 June 06:07 PM Egypt Gov’t approves installment sale of industrial land with 7% interest rate
Cairo – Mubasher: Egypt’s cabinet has approved a proposal for selling industrial land plots on installments at an annual interest rate of 7%. The decision, which will remain in effect for three years only, aims to attract more investments to the …
19 June 05:54 PM Harley-Davidson to make smaller bikes in China
Mubasher: Harley-Davidson agreed with Geely majority-owned Qianjiang to manufacture a new smaller model bicycle, according to Reuters. The US giant chose Qianjiang, citing its experience
19 June 05:37 PM US oil stockpiles drop 3.1m barrels in June’s second week
Mubasher: US crude oil stockpiles dropped by 3.1 million barrels to 482.4 million barrels in the week ended 14 June, the Energy Information Administration said.
Several transport and logistics services will be launched during the conference
19 June 05:26 PM Egypt to organise foreign trade conference in July
Cairo – Mubasher: Egypt’s public enterprise ministry and Holding Co. for Maritime and Land Transport, will launch a foreign trade conference entitled ‘East and Central Africa Trade Bridges’ in collaboration with Misr Insurance Holding Company on 2 …
19 June 05:01 PM OPEC to hold policy meeting in early July
Mubasher: The Organization of the Petroleum Exporting Countries announced that its members and allies would hold their meeting on 1 and 2 July.
Trading volume amounted to 92.59 million shares
19 June 04:53 PM EGX ends Wednesday in red; market cap loses EGP 3.6bn
Cairo – Mubasher: The Egyptian Exchange (EGX) ended Wednesday’s trading session with a sideways-to-declining performance.   The benchmark EGX30 index fell by 0.5% to finish the session at 14,132 points. Meanwhile, the small- and mid-cap EGX70 …
The ministry plans to upgrade buses to be environmentally friendly
19 June 04:41 PM Mercedes in talks to supply BRT vehicles to Egypt
Cairo – Mubasher: Egypt’s transport minister, Kamel El-Wazir, has discussed with Mercedes-Benz’s delegation the creation of Bus rapid transit (BRT) systems.  The ministry works on taking all procedures requisite for regulating land transport in …
The initiative aims to provide healthcare services to neediest families
19 June 03:53 PM Egypt starts implementing ‘Decent Life’ initiative early FY19/20
Cairo – Mubasher: Egypt’s government will start implementing ‘A Decent Life’ initiative by the beginning of fiscal year 2019/2020, the country’s prime minister, Mostafa Madbouly, announced. Madbouly affirmed the importance of collaboration between …
19 June 03:52 PM Infor launches new app to optimise hoteliers’ pricing decisions
Mubasher: Enterprise software giant Infor on Wednesday announced that it would offer this summer an application that will help better pricing decision for hoteliers.
World population will increase to 9.7 billion by 2050
19 June 03:44 PM Egypt may welcome 2050 with 160m population – UN Report
Cairo – Mubasher: Egypt’s population is expected to reach 160 million by 2050, a report released by the United Nations (UN) revealed. Egypt is one of nine countries that are expected to show the biggest increase, along with India, Nigeria, …
19 June 03:27 PM Apple weighs shifting 15%-30% of output capacity from China–Report
Mubasher: Apple asked its key suppliers to assess the cost implications of moving 15% to 30% of their production capacity to Southeast Asia.
19 June 03:14 PM UK factory orders drop in June as auto production falters
Mubasher: New UK factory orders dipped amidst stoppages in auto manufacturing, due to uncertainty about when the country would separate from the European Union.
The royal decree shall come into effect starting June 2019
19 June 02:54 PM Oman allows tax breaks for tourism investments in Musandam
Mubasher: Oman’s tourism minister has welcomed the new Royal Directive issued by Sultan Qaboos bin Said to grant tax exemptions to any new investor who is interested in establishing a tourist project in Musandam. By implementing this new decree, …
The proposed deal also includes rehabilitating 50 Henschel locomotives
19 June 02:46 PM Bombardier in talks with Egypt’s gov’t to supply 100 locomotives
Cairo – Mubasher: Egypt’s minister of transport, Kamel El-Wazir, has discussed with a delegation from Canada’s Bombardier the procurement of 100 locomotives and rehabilitation of 50 Henschel locomotives and 40 Adtranz locomotives. The procurement …
The companies proposed to be merged include Kaha and Idfina
19 June 01:32 PM Egypt plans to merge units of Food Industries Holding
Cairo – Mubasher: Egypt’s minister of supply and internal trade, Ali Meselhy, revealed plans to develop and merge some subsidiaries of Holding Company for Food Industries, Al-Ahram newspaper reported.  The companies proposed to be merged include …
FAB conducts its business in accordance with the highest professional standards
19 June 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
19 June 01:13 PM UK house price growth posts more slowdown in April
Mubasher: Annual house prices in the UK grew slower during April, a joint statement by the Office for National Statistics and the Land Registry said.
19 June 12:38 PM Gold slips on US-Sino trade deal optimism, dovish ECB
Mubasher: Gold dipped on Wednesday amid re-kindled hopes of a trade deal between the US and China and dovish signals from the European Central Bank.
NBE arranged 17 syndicated loans in 2018
19 June 12:36 PM NBE’s syndicated loans hit EGP 399bn end-April
Cairo – Mubasher: National Bank of Egypt’s (NBE) corporate and syndicated loans portfolio reached EGP 399 billion at the end of April, manager of the syndicated loans sector at NBE, Ahmed El-Sersy, said. Egypt's largest state-owned lender arranged …