Business - Markets & Companies

Markets mixed as traders await key US inflation report

Equity markets were mixed Wednesday as traders jockeyed ahead of US inflation data that could play a key role in the Federal Reserve's interest rate decision-making.

Oil, gold and dollar prices rise on Tuesday

Benchmark US crude oil for May delivery rose $1.79 to $81.53 a barrel Tuesday. Brent crude for June delivery rose $1.43 to $85.61 a barrel.

Dubai-based National Paints raises bid to acquire Pachin over Eagle Chemicals

The Dubai-based National Paints Holding (NPH) has raised its offer to acquire the Paint and Chemicals Industries (Pachin) by EGP 2.05 per share to EGP 39.8, according to a statement released by the Financial Regulatory Authority (FRA) on Monday.

Forbes selects 8 Egyptian companies for Middle East’s Top 30 fintech list

Forbes selected eight Egyptian companies for inclusion on its Top 30 Fintech Companies in the Middle East in 2023 list, making it the most represented country in the region, according to a statement on Tuesday.

Oil, gold prices fall on Monday as dollar rise

Benchmark US crude oil for May delivery fell 96 cents to $79.74 a barrel Monday. Brent crude for June delivery fell 94 cents to $84.18 a barrel.

Asian markets mixed as traders weigh US jobs data

Asian equities were mixed Monday in holiday-thinned trade after US jobs data indicated the Federal Reserve would likely have to hike interest rates again but soothed recent worries about a possible recession.

Egypt’s CIB enters Kenyan market with new branch opening

Egypt’s Commercial International Bank (CIB) has opened its first branch in Nairobi, Kenya on Sunday, following its successful acquisition of Kenyan “Mayfair” Bank in January.

Market cap drops EGP 11 bln as EGX's indices slide

On Thursday, the Egyptian Exchange (EGX) closed in the red, leading to an EGP 11 billion drop in market cap.

Global shares trade mixed amid worries about slowing economy

Global shares were trading mixed Thursday as investors turned their attention to upcoming earnings reports and other economic indicators.

Philip Morris Misr raises its cigarette prices

Philip Morris Misr for Tobacco has raised the price of most of its brands, effective Thursday, according to Ibrahim Imbabi, the head of the Tobacco and Cigarette Division at the Federation of Egyptian Industries.

Oil, gold and dollar prices fall on Wednesday

Benchmark US crude oil for May delivery fell 10 cents to $80.61 a barrel Wednesday. Brent crude for June delivery rose 5 cents to $84.99 a barrel.

EGX stabilises on Wednesday as market cap sheds EGP 1 bln

The Egyptian Exchange (EGX) ends nearly flat on Wednesday, with the market cap losing EGP 1 billion to record EGP 1.086 trillion ($35.14 billion), compared to EGP 1.087 trillion on Tuesday.

Egyptian gold prices surge with global market increase

Gold prices in Egypt rose on Wednesday by EGP 75, reaching EGP 2,205 for the 21-karat gold gram, up from EGP 2,130 a day earlier, according to the Egyptian Gold and Jewellery Trade Division of the Egyptian Federation of Egyptian Chambers of Commerce (EGAJTD).

Asian shares mixed after Wall St dips on weak economic data

Asian shares were trading mixed Wednesday following a decline on Wall Street after reports on the U.S. economy came in weaker than expected.

European equities drift higher at open

European equities drifted higher Wednesday at the open after a mixed Asian session as investors dwelled on US recession concerns.

Oil, gold prices rise on Tuesday, dollar falls

Benchmark US crude oil for May delivery rose 29 cents to $80.71 a barrel Tuesday. Brent crude for June delivery rose 1 cent to $84.94 a barrel.

Egyptian exchange ends on mixed note, market cap dips by EGP 1 billion

The Egyptian Exchange (EGX) saw mixed performance on Tuesday, with the market cap losing EGP 1 billion to record EGP 1.087 trillion ($35.17 billion), compared to EGP 1.088 trillion on Monday.

Oil, gold prices rise on Monday, dollar falls

Benchmark US crude oil for May delivery rose $4.75 to $80.42 a barrel Monday. Brent crude for June delivery rose $5.04 to $84.93 a barrel.

Wall Street starts quarter flat as oil renews inflation fear

Wall Street is starting the second quarter nearly flat as losses by utilities and the technology sector offset big gains in energy stocks.

Most markets rise as traders weigh rates outlook

Asian and European markets mostly rose Thursday following a recent run-up, with banking sector worries easing and traders weighing central banks' interest rate plans in the wake of the recent turmoil.

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