The Egyptian Financial Regulatory Authority (FRA) announced that the listed companies are now allowed to capture non-listed ones as part of two new amendments to EGX listing rules regulating company listings and write-offs in the Egyptian stock (...)
IFC, a member of the World Bank Group will be a lead arranger that provides an Islamic financing package of $125 million to aid the expansion of health services and develop medical care in Morocco and Egypt.
IFC will grant Humania, a private (...)
Egyptian e-payment company Fawry has completed the restructuring process of its shareholders without submitting a Mandatory Tender Offer (MTO) to transfer 63 percent of share to indirect shareholders.
EFG Hermes acted as the broker for the 3.6 (...)
European stocks climbed on Wednesday morning as investors put the spread of the new coronavirus under microscope while observing fresh economic data.
The pan-European Stoxx 600 increased 0.5% by mid-morning having earlier notched a new record high. (...)
U.S. stock index futures were slightly higher Wednesday morning. Dow futures jumped 81 points, indicating a positive open of more than 74 points. Futures on the S&P and Nasdaq were both marginally higher.
On the data front, the Labor Department will (...)
Iran has had to reduce oil production projects on a lack of funds and a drop in income from oil exports, Oil Minister Bijan Zanganeh said on Tuesday.
"All attacks are against us and the income from oil exports has been reduced. We have reduced many (...)
Egyptian billionaire Naguib Sawiris announced on Wednesday ongoing negotiations between the government, his gold group La Mancha, and other companies to participate in a gold exploration tender in Egypt.
The Egyptian government "already started (...)
European Bank for Reconstruction and Development is providing loans of US$ 100 million to the Saudi-based food and beverages producer Almarai for new investments in Egypt and Jordan.
The Saudi company operates in Egypt and Jordan through its (...)
UAE's Orient Insurance, part of Al Futtaim Group, said on Monday it obtained an approval from the Saudi Arabian Monetary Authority (SAMA) to open branches in Saudi Arabia.
This is the first authorization of a foreign company to open branches in (...)
Danish drugmaker Novo Nordisk has appointed Ayman Hassan as the new vice president and general manager for the company's operations in Egypt.
Hassan has a wealth of expertise of nearly 25 years of diverse experience in the medical field, the pharma (...)
Banque du Caire's (BdC) net profits jumped 60 percent year on year to record 4 billion Egyptian pounds in 2019, according to its financial results.
The lender's net profits after taxes stood at nearly 4 billion pounds during 2019, compared to 2.5 (...)
Remittances from Egyptian expats went up by 12.1 percent during first five months of FY2019/2020, from July to November 2019, recording $11.1 billion, up from $9.9 billion in the same months of 2018, according to the Central Bank of Egypt (...)
Egypt posts a total trade exchange with the countries of the world during the first eleven months of 2019 hit about $5.34 billion, compared to $6.36 million in the same period in 2018, with a decline of about $1.02 billion, according to the CAPMAS' (...)
U.S. stock index futures were lower Tuesday morning. Dow futures dipped 154 points, indicating a negative open of more than 141 points. Futures on the S&P and Nasdaq were both lower, after climbing to record closing highs late last week.
Wall Street (...)
Most major Gulf stocks lower on Tuesday, weighed down by weak corporate earnings announcements, though property shares helped Dubai buck the trend.
Saudi Arabia's benchmark index .TASI edged down 0.1%, hurt by a 6.9% plunge in telecoms firm Etihad (...)
European stocks tumbled on Tuesday morning following a weak handover from Asia, as Apple's revenue guidance warning rocks electronics supplier shares and coronavirus fears persist.
The pan-European Stoxx 600 fell by 0.8% in early trade, with tech (...)
HSBC on Tuesday reported pre-tax profit that missed analysts' expectations after the bank took a goodwill impairment relating to its European investment banking and commercial banking businesses.
The bank, Europe's largest by assets, also announced (...)
Greta Gerwig's smart, delightful film seems on its way to becoming a classic. It is a wonderous adaptation cuts through the novel's moralistic surface to mine the themes beneath: feminism, creativity, independence and individuality.
Screen (...)
MAK Investments Holding, a subsidiary of Mohammed Abdulmohsin Al Kharafi and Sons Company (MAK Group), signed a contract to build a new Mövenpick hotel in Port Ghalib on the Red Sea's western shore.
With total investments of 500 million Egyptian (...)
China reported its fewest new infections of coronavirus since January and its fewest deaths for a week, but the World Health Organization said data suggesting the epidemic had slowed should still be viewed with caution.
Apple Inc warned that its (...)
Eastern Company (EAST) revenues rose 7.5 percent Y-o-Y, recording EGP 7.69 billion in the first half of FY 2019/2020, according to a company financial statement.
EAST's gross profits jumped by 13.8 percent Y-o-Y to EGP 3.15 billion, which represents (...)
The Governor of the Central Bank of Egypt (CBE) Tarek Amer has stressed that Egypt's economy has become stronger to cope with foreign crises and challenges due to the country's successful economic reform program.
Speaking to CNBC, he reiterated that (...)
Finance Minister Mohamed Maait has said that the government is aimed at increasing financial allocations during the next fiscal year for the sectors of health and education, with a view to strengthening human, social and economic development.
Maait (...)
Sharm El Sheikh International Airport received two TUI flights coming from the UK, for the first time after four-year halt, carrying 184 passengers, while the second one came from Manchester Airport, carrying 190 passengers.
Civil Aviation Minister (...)
European stocks rose after Chinese shares advanced with the yuan as investors took encouragement from the Asian country's pledges to support the world's second-biggest economy in the face of the coronavirus outbreak. The yen and gold both (...)
