October 3rd, 2019 | 0 commentsNasdaq Dubai on Wednesday revealed it has welcomed the listing of a $500 million sukuk as well as a $500 million conventional bond issued by the global port operator DP World. The sukuk and bond were listed on the exchange on 30 September 2019, according to a press release. The Dubai-based trade enabler’s latest sukuk listing highlights t...
October 1st, 2019 | 0 commentsMaridive and Oil Services seeks to enter new markets in the coming period after suspending its operations in Venezuela. The company’s board of directors decided to halt operations in Venezuela starting from 29 April 2019, according to a statement to the Egyptian Exchange (EGX) on Monday. This decision is consistent with the US sanctions a...
September 26th, 2019 | 0 commentsPrometeon Tyre Group – Egypt has injected investments of about EGP 100 million since the beginning of 2019 to date, the company’s chief technical officer Ahmed Zawawy said. Total investments of the tyre manufacturing company in the Egyptian market has reached $200 million (EGP 3.3 billion), Zawawy told Mubasher. The licenced manufacturer...
September 18th, 2019 | 0 commentsMaridive and Oil Services announced that its shareholders approved increasing the company’s issued capital to $188.1 million from $163.8 million during an extraordinary general meeting (EGM). The capital increase shares will be acquired by the Canadian investor Najjad Zeenni at $0.61 per share, the company said in a statement to the Egypt...
September 17th, 2019 | 0 commentsEgyptian bus-sharing app Swvl aims to raise above $100 million in a new financing round during the first half of 2020 as part of its plans to reach a valuation of more than $1 billion over the coming five years, the start-up’s CEO Mostafa Kandil told Reuters. The ride-hailing technology start-up also plans to launch its services in 10 to...
September 16th, 2019 | 0 commentsHeavy Engineering Industries and Shipbuilding (HEISCO) announced that it has concluded a 62-month contract worth of KWD 4.018 with Kuwait National Petroleum Company (KNPC). The contract stipulates cleaning and removal works of coal residuals from multiple heaters using scrapers in KNPC’s refineries, HEISCO disclosed to Boursa Kuwait on Su...
September 10th, 2019 | 0 commentsAbu Dhabi General Services Company (Musanada) and the Integrated Transport Centre (ITC) announced the opening of Bani Yas – Al Heeliya Road with a length of 3.5 kilometres. The AED 54 million project connects Al Heeliya area to Al Moazaz and Al Shamkha south by Sheikh Mohammed bin Rashid Al Maktoum Road (E311), according to a press releas...
September 9th, 2019 | 0 commentsBatic Investments and Logistics Co announced that National Parking Company (Mawgif) signed two construction, development, and operation contracts with the Saudi Ministry of Municipal and Rural Affairs. Batic’s subsidiary Arabian Security & Safety Services Co. Ltd. (Amnco) owns a 40% stake in Mawgif, according to a statement to the Sau...
September 9th, 2019 | 0 commentsThe adjusted unaudited financial statements of Canal Shipping Agencies recorded a 16.8% year-on-year profit drop during fiscal year 2018/2019. Net profits slid to EGP 225.54 million from July 2018 to last June, compared to EGP 271.16 million in FY17/18, the company said in a statement to the Egyptian Exchange (EGX) on Sunday. In the meant...
September 5th, 2019 | 0 commentsEgyptian Transport and Commercial Services Co’s (Egytrans) board of directors decided to sell the company’s treasury stocks. Upon completion of the required procedures, the company will sell 2.21 million treasury stocks, according to a statement to the Egyptian Exchange (EGX) on Wednesday. During the first half of 2019, Egytrans’ net prof...
