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Local Economy

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31 December 2024 04:17 PM EFG Hermes closes advisory on Premium Card’s EGP400m issue
Cairo – Mubasher: EFG Hermes, an EFG Holding Company and MENA’s leading investment bank, has concluded advisory on the EGP 400 million securitised bond issue for Premium International for Credit Services, known as Premium Card. The transaction …
Bonds
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30 December 2024 09:37 PM Egypt C.bank plays role in equipping region’s 1st National Liver Transplant Center
Cairo – Mubasher: The Central Bank of Egypt (CBE) has contributed to equipping the new National Liver Transplant Center at Mansoura University, enabling the establishment to become the first specialised Liver Transplant Center in Egypt, the Middle …
Macroeconomics
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30 December 2024 06:44 PM CBE extends exemption from transfer fees via instant payment network, InstaPay
Cairo – Mubasher: In alignment with Egypt's Vision 2030 to promote digital transformation, the Central Bank of Egypt’s (CBE) board of directors issued a set of decrees for bank transfer services to be effective starting 1 January 2025. The decrees …
Board of Directors
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30 December 2024 08:53 AM CBE unveils EGP 6.5bn debt instruments
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered fixed treasury bonds (T-bonds) at a combined value of EGP 5 billion through two issues on Monday, 30 December. The semi-annual tranche stood at EGP 3 billion and will mature in two years on …
Central Banks
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29 December 2024 11:08 AM CBE offers EGP 55bn T-bills via 2 issues
Cairo - Mubasher: The Central Bank of Egypt (CBE) announced treasury bills (T-bills) at an aggregated value of EGP 55 billion through two offerings on Sunday, 29 December 2024. The first issue was valued at EGP 25 billion, according to official …
Central Banks
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26 December 2024 10:51 PM Companies currently reaping Al, ML gains in Middle East, globally to advance digitalization efforts – Report
Mubasher: Fewer companies in the UAE as well as Saudi Arabia believe that legacy technology poses a barrier to digitalisation at this time compared to 2022 while companies are currently reaping the benefits associated with AI and machine learning …
Sector Reports
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26 December 2024 00:02 PM Kuwait imposes 15% tax on multinational entities as of 2025
Mubasher: The Kuwaiti Cabinet endorsed a draft resolution, on 24 December 2024, issuing a law imposing a 15% tax on multinational entities, which have business in more than one country or a state, according to an official announcement. The new tax …
Taxes
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25 December 2024 06:14 PM Egypt will have access to about $1.2bn upon executive board’s approval – IMF
Cairo – Mubasher: The Egyptian authorities and the International Monetary Fund (IMF) have reached staff level agreement on the fourth review under the Extended Fund Facility (EFF) arrangement. The IMF mission was led by Ivanna Vladkova Hollar, who …
Global Economy
Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital
24 December 2024 08:51 AM Beltone VC’s CEO included in Forbes Middle East’s Top Venture Capitalists of 2024
Cairo – Mubasher: Forbes Middle East named Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, as one of the Top Venture Capitalists for 2024. Mokhtar’s recognition was due to his contributions to the MENA startup ecosystem and his …
Macroeconomics
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23 December 2024 09:52 PM Sheikh Tahnoon bin Zayed emphasises ADQ’s pivotal role in supporting regional prosperity
UAE – Mubasher: Deputy Ruler of Abu Dhabi, Sheikh Tahnoon bin Zayed Al Nahyan, has chaired the board meeting of ADQ, emphasising the pivotal role of ADQ in driving Abu Dhabi’s growth, according to an official statement. Al Nahyan further endorsed …
Macroeconomics
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23 December 2024 08:51 AM CBE issues EGP 4bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered fixed treasury bonds (T-bonds) at a value of EGP 3 billion through one issue on Monday, 23 December. The tranche will mature in three years on 3 December 2027, according to official data. …
Macroeconomics
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22 December 2024 09:54 AM CBE offers EGP 55bn T-bills on Sunday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a combined value of EGP 55 billion in two auctions on Sunday, 22 December 2024. The first offering stood at EGP 25 billion and will mature in 91 days on 25 March …
Banking and Finance
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22 December 2024 09:12 AM MENA-focused Paymob strengthens Apple Pay service in Egypt
Cairo – Mubasher: Paymob, the leading financial services enabler in the MENA region, has enabled its merchant network to accept Apple Pay in Egypt, according to a press release. Paymob will allow its consumers to use their Apple devices to …
Companies Investments
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19 December 2024 05:11 PM GCC airport market seen to grow at 9.5% CAGR during 2024 to 2032 – Abra
Mubasher: The flourishing tourism industry in the GCC region, which boosts footfall in airports and other duty-free zones, is propelling the market growth forecast at a 9.5% compound annual growth rate (CAGR) during 2024 to 2032, according to …
Sector Reports
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19 December 2024 06:16 AM Egypt Economic Summit’s 4th edition to kick off in January 2025
Cairo – Mubasher: The fourth edition of the Egypt Economic Summit is set to take place on 14 January 2025 under the theme of “Egypt's Economic Vision: Towards Leadership and Global Competitiveness. This event will provide a strategic platform to …
Global Economy
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17 December 2024 05:42 PM Tourism would remain bright spot for region’s economies; consumer spending in Saudi Arabia seen 4.5% higher in 2025 – Report
Riyadh – Mubasher: The Mastercard Economics Institute released ‘Economic Outlook 2025’, its annual report identifying the themes that will shape next year’s economic landscape. The global economy has managed through a series of shocks admirably …
Global Economy