Company Name : Golden Pyramids Plaza
ISIN Code : EGS70342C018
Reuters Code : GPPL.CA
Content :
With reference to, the release published on the trading screens on 15/03/2026 regarding the invitation to the Ordinary General Assembly scheduled to be held on 09/04/2026, a correction was received from the company.

Correction from the Company (362 KB)

Company Name : Al Tawfeek Leasing Company-A.T.LEASE
ISIN Code : EGS676N1C015
Reuters Code : ATLC.CA
Content :
A release from the company regarding the semi-annual disclosure form on the use of proceeds from the capital increase subscription, prepared in accordance with the provisions of Article 52 bis of the Listing Rules, and at the company's responsibility.

Release from the Company (888 KB)

News Attachment in Arabic (38 KB)

Company Name : Misr Cement (Qena)
ISIN Code : EGS3C391C017
Reuters Code : MCQE.CA
Content :
The Corporate Governance Report in English for the financial year ending on 31/12/2025.

The Corporate Governance Report (1,782 KB)

Company Name : Misr Cement (Qena)
ISIN Code : EGS3C391C017
Reuters Code : MCQE.CA
Content :
Release from the company regarding the company's organizational framework.

Release from the Company (1,019 KB)

Company Name : Misr Cement (Qena)
ISIN Code : EGS3C391C017
Reuters Code : MCQE.CA
Content :
Attached is the Board of Directors' annual report in English on the financial statements for the fiscal year ending on 31/12/2025.

The BoD Annual Report (873 KB)

Company Name : First Investment Company And Real Estate Development
ISIN Code : EGS65AL1C010
Reuters Code : FIRE.CA
Content :
Release regarding the disclosure form according to the Article 29 of EGX Listing Rules.
The Release (678 KB)

(ONA) —

The general Import Price Index in the Sultanate of Oman recorded an increase of 14.8 percent during the fourth quarter of 2025, compared to the corresponding quarter of 2024, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The statistics revealed varying price movements across different commodity groups over the past year. The machinery and transport equipment group recorded the highest increase rate at 39.4 percent, followed by chemicals and related products at 9.6 percent, and animal and vegetable oils, fats, and waxes at 9.3 percent. Miscellaneous manufactured articles also rose by 4.3 percent, and the beverages and tobacco group by 3.3 percent.

Conversely, the mineral fuels, lubricants, and related materials group decreased by 8.6 percent, followed by manufactured goods classified chiefly by material at 4.9 percent, and crude materials (inedible, except fuels) at 0.2 percent.

The food and live animals group remained stable without any notable change.

On a quarterly comparison basis, the general Import Price Index rose slightly by 0.6 percent compared to the third quarter of 2025. The highest rates of increase during this period were recorded in chemicals and related products at 18.4 percent, followed by machinery and transport equipment at 15.4 percent, miscellaneous manufactured articles at 10.4 percent, and animal and vegetable oils, fats, and waxes at 8.9 percent. Manufactured goods classified chiefly by material also rose by 6.9 percent, and crude materials (inedible, except fuels) by 3.4 percent.

In contrast, the beverages and tobacco group witnessed a decrease of 16.4 percent, followed by mineral fuels, lubricants, and related materials by 15.3 percent, and food and live animals by 2.2 percent.

(QNA) -

The Qatar Stock Exchange index declined at the start of trading on Sunday by 0.38 percent, losing 39.49 points to fall to 10,446 points compared with the close of the previous session, under pressure from five sectors.

Figures released by the Qatar Stock Exchange showed positive performance for the insurance sector, which rose by 0.51 percent, and the transport sector by 0.36 percent. In contrast, performance was negative for the telecommunications sector, which fell by 0.02 percent, the industrial sector by 0.23 percent, the real estate sector by 0.36 percent, the banking and financial services sector by 0.60 percent, and the consumer goods and services sector by 0.66 percent.

At 10:00 a.m., the Qatar Stock Exchange recorded trading valued at QR 69.050 million, distributed over 31.545 million shares through the execution of 3,285 transactions

(QNA) -

The price of Kuwaiti oil edged up by $10.36 to reach $143.03 a barrel on Friday, compared to $132.68 the previous day, the Kuwait Petroleum Corporation (KPC) said today.
In global markets, the price of Brent crude went up by $2.68 to reach $103.14 a barrel, while West Texas Intermediate rose by $2.98 to $98.71 a barrel

Company Name : Golden Pyramids Plaza
ISIN Code : EGS70342C018
Reuters Code : GPPL.CA
Content :
Release from the company regarding the AGM to be held on 09/04/2026.

Release from the Company (259 KB)

(WAM) -

Abu Dhabi Customs continues, in light of developments in the region, to operate in continuous coordination with strategic partners and relevant authorities to support the sustainability of operations and ensure the safety of employees and customers, while maintaining the smooth flow of cargo and trade through the emirate’s customs ports.

As part of efforts to monitor the efficiency of operational processes and enhance the readiness of the customs system at key entry points to ensure business continuity with efficiency and flexibility in line with approved best practices, Rashed Lahej Al Mansoori, Director-General of Abu Dhabi Customs, reviewed customs operations at the Cargo Village of the Zayed International Airport Customs Centre.

Al Mansoori listened to field teams from Abu Dhabi Customs and reviewed their efforts in managing daily operations.

He also inspected operational sites to ensure the implementation of the highest security and safety standards, contributing to the provision of an appropriate working environment. He emphasised the importance of adhering to the approved plans and procedures that ensure business continuity at the highest levels of readiness and operational efficiency.

The visit also included a meeting with representatives of cargo companies operating in the Cargo Village, during which Al Mansoori affirmed Abu Dhabi Customs’ commitment to providing the necessary support to facilitate business and accelerate cargo clearance procedures through the smart customs systems implemented in the emirate, enhancing the efficiency of logistics operations and reinforcing Abu Dhabi’s position as a global hub for trade and logistics services.

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His remarks came during a meeting on Sunday with Prime Minister Moustafa Madbouli and Chairman of the Suez Canal Authority (SCA), Osama Rabie, to review the impact of the ongoing conflict in the Middle East on navigation through the canal and global supply chains. Rabie briefed the president on thePresident Abdel Fattah El Sisi reaffirmed the importance of maintaining the highest levels of preparedness across all facilities linked to navigation through the Suez Canal, stressing the need to closely monitor safety procedures and take all necessary measures to ensure operational readiness amid ongoing regional developments.

His remarks came during a meeting on Sunday with Prime Minister Moustafa Madbouli and Chairman of the Suez Canal Authority (SCA), Osama Rabie, to review the impact of the ongoing conflict in the Middle East on navigation through the canal and global supply chains.



Rabie briefed the president on the repercussions of the war on maritime traffic through the canal, outlining the urgent measures taken by the Authority to address these challenges, according to Presidency Spokesman Mohamed El-Shennawy. These measures include raising the level of alert and operational readiness across all sites and facilities of the Authority while ensuring the uninterrupted provision of navigation services around the clock.



The meeting also reviewed progress on several strategic projects undertaken by the SCA, including the development of the Red Sea Shipyard, the tourist yacht manufacturing project, and the “Rizq” fishing vessel construction initiative, as well as the operational status of the deep-sea fishing fleet.



Discussions also covered national efforts to build and market marine tugboats, in addition to developments in the river bus manufacturing project.

President Sisi directed that all related projects be completed within their designated timelines and in accordance with the highest international standards to ensure the quality and competitiveness of the products and services provided.



The president was briefed on efforts to expand the integration of digital technologies within the operations of the SCA, including the wider use of electronic applications. In this regard, he underscored the importance of ensuring that digital transformation achieves its intended goals—particularly rationalising expenditures, strengthening governance, and enhancing operational efficiency.



President Sisi also stressed the need to deepen cooperation with leading international companies, continue efforts to localise maritime industries, and intensify external marketing activities to open new export markets for locally manufactured products.

Company Name : U Consumer Finance
ISIN Code : EGS505Z1C018
Reuters Code : VALU.CA
Content :
The Board of Directors' meeting minutes held on 11/03/2026.

The BoD Meeting Minutes (475 KB)
Release from the Company (99 KB)
The BoD Report (856 KB)

(WAM) -

The UAE continues to strengthen its position as one of the world’s leading centres in the financial technology (FinTech) sector, benefiting from an integrated ecosystem that combines advanced digital infrastructure, flexible regulatory frameworks, and the flow of global investments, in addition to the presence of leading financial and technology institutions.

These factors have contributed to transforming the country into a platform for developing innovative financial solutions in areas such as digital payments, digital banking services, embedded finance, and digital assets, with expectations of accelerated market growth in the coming years.

Both the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) serve as two main hubs for the sector’s growth, hosting hundreds of companies operating in financial technology, artificial intelligence, and innovation.

Experts in the financial technology sector have confirmed that the coming phase will witness an acceleration in the adoption of technologies such as digital payments, the cashless economy, digital banking services, embedded finance, digital assets, and blockchain technologies, in addition to the use of artificial intelligence in data analysis, risk management, and the customisation of financial services.

Amit Dua, President of SunTec Business Solutions, said that the financial technology sector in the UAE has witnessed rapid growth in recent years, transforming from an emerging sector into a fundamental pillar within the country’s financial ecosystem, benefiting from an advanced regulatory environment and robust digital infrastructure that supports innovation and attracts investments.

He added that the UAE has today become home to a growing community of startups, global financial institutions, and technology solution providers, offering a variety of services including digital payments, regulatory technologies, financial automation, and financial infrastructure.

Mohammed Ali Yusuf, co-Founder and CEO of Fuze, said that the UAE has quickly succeeded in establishing its position as a global centre for virtual assets by building integrated regulatory frameworks that support responsible innovation and promote safe market adoption. This approach has enabled digital assets to become part of the main financial ecosystem and has contributed to consolidating the country’s position as a leading platform for future financial infrastructure.

Digital assets also provide a wide range of uses, such as faster settlements, more efficient cross-border payments, programmable finance, and advanced financial services. In this field, the UAE is setting global standards to be emulated.

According to the FinTech 2025 Industry Report by Emirates NBD and PwC, FinTech startups in the country attracted investments amounting to nearly US$265 million in 2024, equivalent to one-third of the total funding granted to startups in the country.

The report expects the size of the FinTech market in the country to grow from US$3.16 billion in 2024 to $5.71 billion by 2029, supported by widespread consumer adoption of FinTech innovations, investor confidence in the opportunities offered by the local market, and the strength of partnerships between the public and private sectors.

(WAM) -

Italy’s industrial output declined 0.6% in January compared to December, according to data released by national statistics agency ISTAT on Friday.

ISTAT also revised December’s industrial output data, showing a 0.5% decrease compared to the previously reported 0.4% fall.

On a work day - adjusted, year-on-year basis, industrial output fell 0.6% in January.

(WAM) -

The Small and Medium Enterprises Centre “Tijarah 101”, affiliated with the Sharjah Chamber of Commerce and Industry (SCCI), reported significant achievements during the first quarter of 2026.

The Centre reached full occupancy at its Khorfakkan headquarters and successfully attracted a diverse portfolio of innovative entrepreneurial ventures led by Emirati men and women.

This progress further strengthens the Centre’s role in advancing economic empowerment initiatives for youth and women across the Emirate of Sharjah.

The achievements of Tijarah 101 reflect the Sharjah Chamber’s commitment to strengthening an integrated institutional ecosystem that supports entrepreneurship. This includes providing advanced infrastructure and comprehensive training programmes designed to effectively integrate young talents into the private sector.

These developments coincide with SCCI recording a 14% growth in memberships last year, offering members of Tijarah 101 access to an extensive business network that supports their expansion and growth across both local and international markets.

Tijarah 101 has successfully attracted a diverse portfolio of entrepreneurial projects spanning high-potential sectors, including information technology, digital economy, food and hospitality, logistics services, and light industries. This sectoral diversity highlights the Centre’s position as a flexible and inclusive economic incubator that supports a wide spectrum of projects, contributing to the diversification and sustainable growth of Sharjah’s local economy.

Mohamed Ahmed Amin Al Awadi, Director-General of SCCI, stated that the outstanding performance of Tijarah 101 Centre reflects the success of the strategic vision underpinning its establishment in 2019.

He added that this vision is based on providing an integrated incubating environment that enables Emirati youth to transform their ambitions into sustainable economic ventures.

Al Awadi noted that the Sharjah Chamber is committed to mobilising all its capabilities and specialised centres to support entrepreneurs, enabling them to achieve their professional goals and contribute to the broader national development agenda.

Meanwhile, Mona Omran Ali, Director of the Small and Medium Enterprises Centre (Tijarah 101), announced plans to establish a new branch in Sharjah’s Eastern Region, building on the success attained by the Khorfakkan branch, which was inaugurated in April 2024 and achieved full occupancy within a short period.

She said that the planned expansion reflects the Centre’s commitment to supporting entrepreneurs across all cities and regions of Sharjah, highlighting the increasing demand for membership at the Centre’s main branch in Sharjah.

She added that the growing number of members demonstrates the success of the Sharjah Chamber’s initiatives and the strong confidence young entrepreneurs place in the Centre’s training programmes and integrated services.

As part of its capacity-building efforts, the Tijarah 101 Centre delivers a range of specialised training programmes aimed at enabling young entrepreneurs to professionally manage and scale their ventures. The Centre operates on the principle that knowledge constitutes the most valuable asset and the true capital of the modern economy.

The training portfolio includes programmes in exhibition management, reflecting Sharjah’s position as a regional and global hub for exhibitions and conferences. It also covers tax auditing and collection addressing evolving tax regulations, alongside e-commerce programmes that support digital transformation.

Additional training areas include translation, design, graphic production, and hospitality services. These programmes equip entrepreneurs with the practical knowledge required to compete effectively in the market, ensure regulatory compliance for emerging ventures, and facilitate expansion into broader markets through efficient and well-managed operational planning.

Tijarah 101 Centre actively integrates its members into major promotional events to connect small and medium enterprises with both local and international markets. This approach leverages the Sharjah Chamber’s institutional ecosystem and the exhibitions hosted at Expo Centre Sharjah.

Members of Tijarah 101 are also engaged in key events such as the Sharjah Entrepreneurship Festival and the Graduates Festival, among other initiatives that provide entrepreneurs with access to high-visibility exhibition spaces. These platforms enable members to showcase their ventures to a wider audience, thereby strengthening brand exposure and credibility, benefits that are often difficult to attain through standalone marketing initiatives.

The Centre conducts ongoing advisory seminars to strengthen investment and business awareness among entrepreneurs, while showcasing the range of facilities and services available within its support ecosystem.

Tijarah 101 also provides a conducive incubation environment designed to help entrepreneurs transform their ideas into viable and sustainable businesses. The Centre offers fully equipped commercial offices and meeting rooms fitted with advanced technologies, in addition to specialised workshops for members. These initiatives enhance the institutional maturity of startups and strengthen their readiness for funding opportunities and long-term business growth.

egyptian-gazette-


Top oil exporter Saudi Arabia has cut oil production by some 2 million barrels per day to around 8 million bpd after ​reducing output from two major offshore fields amid the Iran ‌war, two sources .

Middle East Gulf oil producers have had to shut vast volumes of production due to the blocking of the Strait of Hormuz, a ​narrow waterway between Iran and Oman, since the US and Israel ​began airstrikes on Iran on February 28. Iran has said ⁠the world should prepare for oil prices at $200 a barrel.

While Saudi ​Arabia is routing more oil to Yanbu on the Red Sea coast ​to avoid the Strait, production is down to around 8 million bpd after the Safaniya and Zuluf offshore fields were shut, one source said, declining to be identified ​by name. Another source said Saudi production was down to below ​8 million bpd.

The two offshore fields produce over 2 million bpd of mainly heavy ‌and ⁠medium heavy crude, while the pipeline to Yanbu mainly takes light crude.

A cut in Saudi production to 8 million bpd is a sizeable drop from February, when Saudi Arabia ​supplied 10.111 million bpd ​to the ⁠market and produced 10.882 million bpd. The February production boost was a contingency plan in case any US ​strike on Iran disrupted Middle East supplies, sources said at ​the time.

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Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, and Minister of Finance Ahmed Kouchouk held a meeting with a delegation from the World Bank Group to discuss ways to boost private investment in the nation’s infrastructure sector.

Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, and Minister of Finance Ahmed Kouchouk held a meeting with a delegation from the World Bank Group to discuss ways to boost private investment in the nation’s infrastructure sector.

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President Abdel Fattah El Sisi’s directive to settle outstanding dues to oil and gas partners sends a strong message of confidence to investors in Egypt’s energy sector. The step aims to encourage new investments, increase discoveries, and boost domestic production to help reduce reliance on gas imports, particularly amid global challenges.
Minister of Petroleum and Mineral Resources, Karim Badawi made the remarks during a general assembly meeting of the Egyptian Natural Gas Holding Company (EGAS) on Friday. During the meeting, he approved the company’s budget for the 2026/2027 fiscal year (FY).

Badawi has said the ministry is adopting flexible economic models to market new exploration blocks, making Egypt’s oil and gas sector more attractive to international companies. He also stressed the key role of EGAS in ensuring stable gas supplies for electricity generation, industry, and households, while calling for faster connection of new wells and increased maintenance ahead of the summer season.

For his part, Said Saleem, Managing Director of EGAS, said the company plans to launch a new gas exploration bidding round in the Mediterranean in 2026. The plan includes drilling 17 exploratory wells and starting the first phase of a seismic survey project in the Eastern Mediterranean in the second half of the year.

Saleem added that EGAS aims to complete six new development projects and continue three ongoing ones, with 51 new wells scheduled to be connected to the production network in FY 2026/2027. He also noted that 385,000 households were connected to the natural gas grid during the first half of the current fiscal year, with a target of reaching 800,000 homes by the end of FY 2026/2027.

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Egypt eyes more industrial co-operation with Japan

Relations were elevated to a strategic partnership in 2023, reflecting the shared vision of both countries’ leadership to expand co-operation in industry, technology, investment, and sustainable development.

His remarks came during a seminar organised by the Japanese Embassy in Cairo on trends in Japanese investment abroad and ways to enhance co-operation with Egypt.

The event was attended by Fumio Iwai, Japan’s ambassador to Cairo, and Inoue Hiroki, President of the Japan Business Association.

Hashem noted that more than 100 Japanese companies currently operate in Egypt, mainly in manufacturing, contributing to technology transfer, job creation, and the development of industrial capabilities. These investments cover sectors such as automotive and components, engineering, electronics, pharmaceuticals, food industries, energy, and infrastructure.

The minister said Egypt is implementing an ambitious strategy to develop its industrial sector, deepen local manufacturing, and position the country as a regional hub for industry, logistics, and trade.

Egypt offers several advantages to investors, including a strategic location connecting Africa, Europe, and Asia, access to markets of over two billion consumers through free trade agreements, and modern infrastructure and industrial zones.

Minister Hashem also highlighted opportunities for co-operation in emerging sectors such as renewable energy components, green hydrogen, advanced engineering industries, and smart manufacturing. He welcomed the idea of establishing a Japanese industrial zone in the Suez Canal Economic Zone and encouraged Japanese companies to expand investments in Egypt while promoting greater access for Egyptian exports to the Japanese market.

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US eases Russia oil curbs as Iran lifts energy prices
Officials say the goal is to soften the economic shock caused by the escalating conflict involving the US, Israel, and Iran, which has been pushing global energy prices higher, BBC reported.

US Treasury Secretary Scott Bessent explained that the short-term waiver is meant to support stability in global energy markets. He emphasised that the measure is limited in scope and isn’t expected to offer Russia any major financial gain.

Russia says it currently has about 100 million barrels of oil already at sea. The ongoing attacks on ships and energy facilities in the Gulf, along with the near shutdown of the Strait of Hormuz, have sent tremors through global energy supplies.

Oil prices rose above $100 a barrel again on Thursday. Stock markets fell after three more cargo ships were struck in the Gulf, and Iran’s new supreme leader vowed to continue blocking the critical waterway. Normally, about 20% of the world’s oil passes through the Strait of Hormuz. Now, tankers stuck in the Gulf—unable to move through the narrow passage between Iran and Oman—are deepening the supply crunch.

The US waiver lasts until 11 April and applies only to a specific group of permitted countries. Bessent noted that the recent price surge is a “short-term disruption” and expressed confidence that the country and its economy will benefit in the long run.

This shift comes just after Washington announced it would release 172 million barrels from its strategic petroleum reserve.

Kirill Dmitriev, economic envoy to Russian President Vladimir Putin, said the US move shows that global energy stability simply isn’t possible without Russian oil. With the crisis intensifying, he suggested that further easing of restrictions on Russian energy may be unavoidable.

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President Abdel Fattah El-Sisi said that the ongoing wars and geopolitical tensions in the region have compelled the Egyptian government to take necessary economic measures in order to safeguard the country’s stability.

Speaking during the Egyptian Family Iftar Ceremony, El-Sisi acknowledged that many citizens have expressed frustration over recent fuel price increases.

He said the government is fully aware of these negative sentiments, stressing that officials are working to avoid imposing even harsher economic steps.

He revealed that Egypt consumes petroleum products worth approximately $20 billion annually, underscoring the scale of the country’s energy needs.

The president emphasized that the government does not implement any policy unless it has been thoroughly studied and represents the least possible burden on citizens.

According to El-Sisi, the economic decisions taken are aimed at maintaining stability while managing external pressures affecting the national economy.

El-Sisi also highlighted that Egypt entered a comprehensive economic reform program in 2016, noting that since 2020 the country has faced a series of global and regional crises that were difficult to avoid. These developments, he said, have significantly impacted economic conditions.

At the same time, the government is working to diversify energy sources, with a target of generating 42% of electricity from renewable energy by 2030.

The president added that regional tensions have also affected strategic revenue streams. According to El-Sisi, the challenges resulted in the loss of around $10 billion in revenues from the Suez Canal.

In response to these pressures, El-Sisi said he has directed the government to accelerate the rollout of a new social protection package aimed at supporting low- and middle-income groups.

He also stressed the importance of controlling market prices, warning that the government will take strict action against violations. El-Sisi said authorities have been instructed to refer offenders who manipulate prices or exploit the situation to military trials.

The remarks reflect the government’s attempt to balance economic reform with expanded social protection amid regional instability and ongoing economic pressures.

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Karim Badawi, Minister of Petroleum and Mineral Resources, conducted an unannounced visit to the National Natural Gas Grid Control Center (NATA) at the Egyptian Natural Gas Company (GASCO) headquarters. The visit aimed to inspect the operational status of the national natural gas transmission grid and ensure the regular flow of natural gas supplies across the network to various consumption sectors.

The Minister emphasized the importance of guaranteeing that the needs of the electricity and industrial sectors are met stably and securely. The visit came in continuation of unplanned field visits to monitor progress at production and operation sites, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).

During the visit, Badawi followed up with Mohamed Marzouk, Chairman of GASCO, and the center’s team on current gas pumping rates. He also verified the efficiency of the national grid’s operational status, extending his thanks to the center’s team for their efficient management of the network and their continuous monitoring to secure supplies amidst the current circumstances and their associated challenges.

Furthermore, the Minister reviewed the preparations and operational scenarios prepared in advance to handle any potential variables, as well as to meet the expected increases in consumption rates with the onset of the summer months, thereby enhancing the grid’s readiness and its sustained ability to secure supplies with high efficiency.

Badawi further confirmed the completion of preparations for the natural gas distribution system for residential and commercial consumption, in readiness for the blessed Eid al-Fitr holiday and the accompanying seasonal surge in domestic and commercial gas demand.

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South Valley Egyptian Petroleum Holding Company (Ganope) targets revenues exceeding EGP 4 billion and net profits surpassing EGP 1 billion in the fiscal year (FY) 2026/27, according to the company’s Chairman, Ashraf Bahaa.

Bahaa said the company continues to implement the Ministry’s strategy aimed at creating promising investment opportunities, encouraging current partners, and attracting new investors. He added that coordination with the Egypt Upstream Gateway (EUG) resulted in offering 16 investment opportunities, with eight exploration and production agreements currently in force covering an area of about 37,000 square kilometers (km²). Plans are also in place to drill five exploratory wells with investments estimated at $33 million, he added.

According to Bahaa, the company is driving investment attraction efforts, including the Red Sea bid round launched in November 2025. The round, set to close in May 2026, comprises four blocks totalling 23,450 km², promoted via global conferences, technical workshops, and geological site visits.

Bahaa further noted that the ongoing 2D seismic survey project in virgin areas west of the Nile and in the southern Western Desert t is expected to support adding these areas to Egypt’s petroleum investment map for the first time.

He added that data acquisition for Area B west of Assiut has been fully completed, and processing has begun, with initial indicators expected in March. Preparations are also underway to conduct seismic surveys in the Dakhla Oasis area.

During the meeting, Badawi commended the company’s operational activities, especially completing seismic survey work in Area B west of Assiut, noting that preliminary results are being prepared for presentation to investors at the Egypt Energy Show (EGYPES) 2026.

Ganope is a state-affiliated petroleum company focused on exploration and production, managing concession areas in the Western Desert, West Nile, and Red Sea regions, and promoting investment opportunities to local and international partners.

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The Egyptian Natural Gas Holding Company (EGAS) plans to launch new bid round in 2026, offering natural gas exploration licenses across several areas in the Western Mediterranean, according to Chairman and Executive Managing Director Sayed Selim.



The plan also includes drilling 17 exploratory wells during the upcoming Fiscal Year (FY), and commencing the first phase of the seismic survey project in the Eastern Mediterranean during the second half (H2) of the year.



During the meeting, Minister of Petroleum and Mineral Resources Karim Badawi stated that EGAS plays a pivotal role in securing and sustaining natural gas supplies for all sectors of the state, most notably power plants, industrial sectors, and residential homes.



The meeting reviewed the status of recent exploratory wells, West Denis-1, Sirius, and Jannat-1, alongside preparations to drill four additional wells during the second half of FY 2025/26.



On the production front, EGAS plans to implement 6 new projects and complete 3 others, while placing 51 wells on the production map during FY 2026/27. Work is also underway to implement four projects and complete another, with the addition of 25 wells during H2 of the current FY.



Furthermore, the meeting discussed efforts to meet domestic natural gas demand and secure supplies for the electricity and industrial sectors, as well as projects to reinforce the national gas grid and connect residential units. During the first half (H1) of the current FY, 385,000 housing units were connected, while the plan targets extending gas services to 800,000 units during FY 2026/27.



Within the framework of state directives to alleviate the burden on citizens through the ‘Decent Life’ (Hayah Karima) initiative, which aims to provide gas connections to 841 of the most-needed villages, work has been completed in 675 villages, with the remainder currently being finalized.



Also approximately 43,000 cars were converted to use Compressed Natural Gas (CNG) during H1 of the current FY, with the implementation of the plan ongoing.



During the meeting, Badawi highlighted the importance of early preparation for the summer season by accelerating the connection of new wells to the production map, alongside intensifying well maintenance operations.



The Minister pointed out that current events in the Middle East and their repercussions on energy supplies have underscored the importance of the Floating Storage and Regasification Units (FSRUs) . This serves as an urgent strategic solution to secure the state’s imported liquefied natural gas (LNG) needs, supporting supply stability and meeting the requirements of various sectors, especially during times of crisis.



Established in August 2001, the Egyptian Natural Gas Holding Company (EGAS) is one of the primary state-owned entities under the Ministry of Petroleum and Mineral Resources. The company is tasked with managing Egypt’s natural gas sector, with a strategic focus on expanding exploration and production activities to secure domestic energy needs.

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The Egyptian Petrochemicals Holding Company (ECHEM) has unveiled a five-year plan to launch 10 projects targeting the localization of over 20 petrochemical products for domestic and international markets. The plan envisions a total production capacity of 7.5 million tons (mmt) and investments estimated at $11 billion, according to Chairman Alaa El-Din Abdelfattah.

Speaking at the company’s general assembly to approve its investment program for fiscal year (FY) 2026/2027, Abdelfattah highlighted ECHEM’s efforts to deepen integration with the Ministry of Industry, aiming to substitute high-import petrochemical inputs with locally manufactured products.

He reviewed the executive steps planned to advance several projects, including soda ash and silicon derivatives projects in New Alamein, the methanol derivatives project in Damietta, and an Alexandria supply chains project to provide ethane feedstock and gas derivatives for future petrochemical projects.

ECHEM has reached a total production of about 4.2 mmt in 2025, with exports to more than 50 countries, said Abddelfattah, noting that availability of natural gas supplies has helped drive production at existing petrochemical projects to meet the needs of the local market and exports.

During the meeting, Karim Badawi, Minister of Petroleum and Mineral Resources, stressed the importance of directing the petrochemical sector’s efforts toward studying priority needs in the local market while also maximizing opportunities in global markets in a way that supports the localization of new industries, provides feedstock for existing industries, reduces the import bill, increases export revenues, and creates new job opportunities.

Badawi also emphasized the need to adhere to accelerated timelines for implementing key projects, including the Red Sea Petrochemicals Complex, planned for the Ain Sokhna economic zone. He described the complex as a major project with significant production capacity and highlighted its expected contribution to the Egyptian economy.

In April, an Egyptian-Chinese joint venture (JV) was formed to execute the preliminary designs for the complex. The project involved securing a 5-million-square-meter site, establishing basic infrastructure, and signing crude supply agreements with the Egyptian General Petroleum Company (EGPC) and Saudi Aramco. Logistics agreements were also signed with the Arab Petroleum Pipelines Company (SUMED) and Sonker Bunkering Company (Sonker) for product handling, as well as local and international distribution agreements.

Abdelfattah also highlighted efforts to maximize the benefits of existing projects, including the Wood Technology Company (WOTECH), as well as development and expansion projects at companies such as Egyptian Linear Alkyl Benzene Company (ELAB), Misr Fertilizers Production Company (MOPCO), and Sidi Kerir Petrochemicals Company (Sidpec).

He also noted that the Egyptian Petrochemicals Company in Alexandria recently produced medical-grade polyvinyl chloride (PVC) for the first time.

Established in January 2002, ECHEM is one of the holding companies under the Egyptian Ministry of Petroleum, tasked with developing and managing Egypt’s petrochemical industry.

Trading value for Sunday 15/03/2026 reached JD(6.2) million. (1.7) million shares were traded through (1,858).

The shares price index closed at (3658.64) point, same as the previous closed price

The shares of (83) companies were traded, the shares prices of (24) companies rose, and the shares prices of (27) declined.

At the sector level, the Services index increased by 0.35%, the Financial index decreased by 0.14%, and the Industrial index decreased by 0.01%.

As for sub sector indices, the Textiles, Leathers and Clothings, Educational Services, Food and Beverages, Technology and Communication, Diversified Financial Services, Utilities and Energy, Mining and Extraction Industries, Transportation sectors increased by 1.52%, 0.98%, 0.81%, 0.62%, 0.44%, 0.26%, 0.26%, 0.11% respectively. While the Tobacco and Cigarettes, Electrical Industries, Chemical Industries, Engineering and Construction, Health Care Services, Pharmaceutical and Medical Industries, Real Estate, Insurance, Banks sectors decreased by 9.09%, 4.84%, 1.01%, 0.73%, 0.71%, 0.48%, 0.32%, 0.28%, 0.15% respectively.

The top five gainers were, the Jordan Vegetable Oil Industries by (4.80%), Future Arab Investment Company by (3.33%), Shareco Brokerage Company by (3.13%), Northern Cement Co. by (3.07%), and Assas For Concrete Products Co. Ltd by (2.82%).

The top five losers were, Union Tobacco & Cigarette Industries by (9.09%), Ibn Alhaytham Hospital Company by (5.00%), United Cable Industries by (4.84%), Arab Company For Investment Projects by (4.69%), and Int'l Arabian Development And Investment Trading Co. by (4.55%).

Trading value for Sunday 15/03/2026 reached JD(6.2) million. (1.7) million shares were traded through (1,858).

The shares price index closed at (3658.64) point, same as the previous closed price

The shares of (83) companies were traded, the shares prices of (24) companies rose, and the shares prices of (27) declined.

At the sector level, the Services index increased by 0.35%, the Financial index decreased by 0.14%, and the Industrial index decreased by 0.01%.

As for sub sector indices, the Textiles, Leathers and Clothings, Educational Services, Food and Beverages, Technology and Communication, Diversified Financial Services, Utilities and Energy, Mining and Extraction Industries, Transportation sectors increased by 1.52%, 0.98%, 0.81%, 0.62%, 0.44%, 0.26%, 0.26%, 0.11% respectively. While the Tobacco and Cigarettes, Electrical Industries, Chemical Industries, Engineering and Construction, Health Care Services, Pharmaceutical and Medical Industries, Real Estate, Insurance, Banks sectors decreased by 9.09%, 4.84%, 1.01%, 0.73%, 0.71%, 0.48%, 0.32%, 0.28%, 0.15% respectively.

The top five gainers were, the Jordan Vegetable Oil Industries by (4.80%), Future Arab Investment Company by (3.33%), Shareco Brokerage Company by (3.13%), Northern Cement Co. by (3.07%), and Assas For Concrete Products Co. Ltd by (2.82%).

The top five losers were, Union Tobacco & Cigarette Industries by (9.09%), Ibn Alhaytham Hospital Company by (5.00%), United Cable Industries by (4.84%), Arab Company For Investment Projects by (4.69%), and Int'l Arabian Development And Investment Trading Co. by (4.55%).

dailynewsegypt-


Egyptian President Abdel Fattah al-Sisi said on Sunday that regional conflicts have caused a $10bn loss in Suez Canal revenues, describing recent domestic fuel price increases as an “inevitable” measure to protect the national economy.

Speaking at the “Egyptian Family Iftar” in Cairo, Sisi stated that the EGP 500bn decline in Suez Canal receipts, combined with global supply chain disruptions and rising energy costs from conflicts in Gaza and Iran, has placed Egypt at a “historical crossroads.” He defended the government’s decision to raise petroleum prices, acknowledging public “negative feelings” but insisting the measures were necessary to avoid “harsher options.”

“The state is fully aware of the scale of the pressures borne by the Egyptian citizen,” Sisi said. He explained that the country consumes approximately $20bn (EGP 1tn) of petroleum products annually, the majority of which is used to fuel power plants. If the government charged citizens the true cost of production, electricity bills would increase fourfold, the President added.

In response to domestic economic strain, Sisi directed the government to accelerate the launch of a new social protection package targeting low- and middle-income groups. He emphasised that while the state remains committed to subsidising goods for the most vulnerable, it cannot continue borrowing foreign currency to cover consumption needs for a population that has reached 120m.

The President also addressed media criticism regarding government transparency. He urged officials to provide clearer explanations to the public, particularly regarding economic decisions. “We do not take any measure unless it is carefully studied,” Sisi said, noting that current policies are designed to be the “least costly” for the population.

On energy policy, Sisi announced that Egypt is working to reach a target of 42% renewable energy by 2030, with intentions to exceed this percentage and complete the transition ahead of schedule.

Regarding internal security and market stability, the President warned against price gouging and exploitation. He stated that the government would strictly monitor markets and that violators could be referred to military trials to ensure the protection of the people’s resources.

Sisi also noted “positive progress” in recent television dramas and artistic works, calling for content that reflects Egypt’s cultural values and contributes to national awareness.

The event was attended by Prime Minister Mostafa Madbouly, Deputy Prime Minister for Economic Affairs Hussein Issa, Minister of Defence and Military Production Ashraf Salem Zaher, Speaker of the House Hesham Badawy, Senate President Essam el-Din Farid, and Pope Tawadros II.

Presidential spokesperson Mohamed El-Shennawy confirmed that the President’s remarks focused on the necessity of national cohesion during a period of regional volatility, warning that “some countries are lost due to wrong calculations.”

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Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that their cargo is priced in Chinese yuan, a senior US official told CNN.

The potential move comes as Tehran develops a new plan to regulate the flow of tankers through the waterway, the official added. Global oil trade is predominantly conducted in US dollars, with the exception of certain sanctioned exports, such as Russian oil, which is occasionally sold in roubles or yuan.

The Iranian Ambassador to India, Mohammad Fathali, said on Saturday that Tehran had already permitted some Indian vessels to transit the Strait, confirming a rare exception to a closure that has disrupted global energy supplies. Fathali did not specify the number of ships granted safe passage.

An Indian government official confirmed that two liquefied petroleum gas (LPG) tankers had crossed the Strait of Hormuz but noted that 22 Indian-flagged vessels remain west of the waterway.

“We are seeking safe passage for the remaining ships stuck in the Gulf,” the official said, noting that the stranded fleet includes four crude oil tankers, six LPG tankers, and one liquefied natural gas (LNG) carrier.

Shipping through the Strait has been almost entirely halted since the United States and Israel began launching attacks on Iran on Feb. 28. The disruption has driven global oil prices to levels not seen since 2022.

The Iranian Supreme Leader, Mujtaba Khamenei, who succeeded his father, pledged days ago to maintain the closure of the Strait of Hormuz as long as the US-Israeli war against his country continues. However, he noted that “the matter may change according to interests.”

“We believe in establishing friendly relations with neighbouring countries, and we only target US military bases, and we will continue to do so,” Mujtaba Khamenei said. “These bases must be disrupted as soon as possible because they have killed our children.”

Tehran has intensified its attacks on commercial vessels and tankers in the waters of the Arabian Gulf as the conflict has escalated. The near-total closure of the Strait affects approximately one-fifth of the world’s oil and gas supplies.

US President Donald Trump announced early Saturday that the United States had conducted air strikes targeting all military objectives on Iran’s Kharg Island. Trump indicated he might reconsider the decision to avoid targeting oil facilities and infrastructure on the island if navigation in the Strait of Hormuz faces further threats.

Iran relies heavily on Kharg Island, which processes approximately nine out of every 10 barrels of its oil exports, most of which are destined for China. Market concerns regarding the Strait, one of the world’s most critical energy arteries, have pushed oil prices to their highest levels since July 2022.

The Iranian Revolutionary Guard Corps stated on Thursday that it would keep the Strait closed in accordance with the orders of Mujtaba Khamenei, adding, “We will deal the strongest blows to the enemy.” However, the Iranian Foreign Ministry stated that many ships could still pass through the Strait if they coordinate with the Iranian Navy.

US Treasury Secretary Scott Bessent said in a television interview that the US Navy may escort ships through the Strait of Hormuz in cooperation with an international coalition once military conditions permit.

“I believe that as soon as military conditions allow, the US Navy, perhaps in cooperation with an international coalition, will escort ships through the Strait,” Bessent said.

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Egypt’s Minister of Planning and Economic Development Ahmed Rostom met with Amr Soliman, Head of the Egypt and Middle East and North Africa team within the Governance Programme at the Organisation for Economic Co-operation and Development (OECD), to discuss ways to reinforce bilateral cooperation.

The meeting was held within the framework of the Public and Economic Governance Support Programme in Egypt, implemented by the Egyptian government in cooperation with the OECD and funded by the European Union for 2022-2026.

During the meeting, Rostom reaffirmed the Egyptian government’s commitment to expanding cooperation with the OECD and benefiting from its international expertise in public policy development and improving government efficiency, in a way that supports economic reform and sustainable development.

He highlighted the importance of exchanging expertise and strengthening institutional capacities in planning and evidence-based policymaking, which would support the implementation of the objectives of Egypt Vision 2030.

Rostom explained that the Public and Economic Governance Support Programme aims to strengthen the capacities of government institutions to implement and monitor the national sustainable development agenda, in addition to supporting the state’s efforts to implement the administrative reform plan overseen by the Central Agency for Organisation and Administration (CAOA).

He added that the programme focuses on developing the policy framework for implementing and monitoring Egypt Vision 2030 and the administrative reform plan. This includes establishing platforms for public policy dialogue, conducting peer reviews and strengthening the institutional and human capacities of both the Ministry of Planning and CAOA.

The minister also emphasised the importance of cooperation in supporting the transition towards preparing Egypt’s national medium-term sustainable development plan, as well as strengthening monitoring and evaluation frameworks to measure progress in implementing development policies and programmes.

Rostom noted that cooperation under the OECD country programme has helped expand knowledge exchange, provide technical support to several ministries and government entities, and contribute to developing public policies and improving institutional performance.

He stressed the Ministry of Planning and Economic Development’s commitment to continuing cooperation with the OECD, with a focus on future areas of collaboration aligned with national priorities.

Rostom also highlighted the importance of continued cooperation in light of Egypt’s co-chairmanship, alongside Italy and Türkiye, of the OECD’s Middle East and North Africa Initiative on Governance and Competitiveness for Development for 2026-2030.

For his part, Soliman expressed the OECD’s appreciation for its ongoing partnership with the Egyptian government, praising the country’s efforts to develop its public governance system and improve the efficiency of government administration.

He said the EU-funded Public and Economic Governance Support Programme represents a successful model of cooperation, contributing to the development of public policies, strengthening monitoring and evaluation mechanisms and building institutional capacity within government entities.

Soliman added that the OECD remains committed to continuing to provide technical support and exchange expertise with the Egyptian government in the coming period in support of the objectives of Egypt Vision 2030.

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Egypt’s Minister of Industry Khaled Hashem held talks with a delegation from DrasChem Specialized Chemicals, led by CEO Mohamed Abdel Aziz, to discuss plans to establish and operate the first sodium cyanide and derivatives production plant in Egypt and the Middle East.

The proposed project is expected to support Egypt’s industrial development strategy and deepen local manufacturing capabilities in advanced chemical industries.

During the meeting, the delegation presented details of the project’s first phase, which will be developed on an 80,000-square-metre plot within the Sidi Kerir Petrochemicals Company complex. The total plant area is expected to reach 157,000 square metres.

The project aims to localise advanced industrial technologies, with the company’s capital estimated at $10m, while total investments are projected to reach around $200m.

Once operational, the facility is expected to produce between 50,000 and 55,000 tonnes annually and create approximately 500 direct jobs, in addition to indirect employment opportunities across supply chains and related services.

Hashem described the sodium cyanide plant as a pioneering step for Egypt in advanced manufacturing across the Middle East and Africa, reflecting the state’s strategy to localise technology, strengthen domestic industry and open new opportunities for specialised exports.

He added that the project could serve as a platform for transferring global expertise to the Egyptian market and act as a catalyst for innovation and sustainable industrial production.

The minister also stressed the importance of adhering to the highest environmental and technological safety standards, including conducting comprehensive environmental impact assessments to ensure implementation in line with international best practices.

He further directed company officials to cooperate with the Industrial Efficiency Authority to train and qualify Egyptian professionals to work on the project, ensuring effective knowledge transfer and strengthening national industrial capabilities.

For his part, Abdel Aziz said the project would mark the first facility of its kind in Egypt, Africa and the Middle East to produce sodium cyanide and its derivatives. He added that the initiative would position Egypt as the first country in the Middle East and North Africa and the second in Africa to localise this advanced technology through partnerships with global petrochemical holding companies in Austria and Czech Republic.

He explained that sodium cyanide is a critical industrial input widely used in sectors such as precious metals mining, including gold and silver, as well as pharmaceutical and agricultural industries, particularly in pesticide manufacturing.

Abdel Aziz also praised Egypt’s investment climate and its approach of engaging stakeholders and conducting consultations before implementing economic decisions, noting that the country is increasingly attracting high-value industrial and technological investments.

dailynewsegypt-


The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has injected EGP 3.1bn in financing to support 133,900 projects in Fayoum between July 2014 and December 2025, according to Bassel Rahmy, CEO of the agency.

Rahmy said the financed projects have generated approximately 184,900 job opportunities, highlighting MSMEDA’s role in supporting entrepreneurship and small businesses across the governorate.

In a statement issued on the occasion of Fayoum’s National Day, Rahmy added that around EGP 165.1m of the total financing had been allocated to infrastructure, community development and training projects, which collectively provided about 2.4 million working days. He noted that productive sectors, including agriculture and livestock projects, accounted for roughly 19% of the total funding.

Rahmy emphasised that the agency is working to encourage residents of Fayoum to benefit further from its financial and technical services, particularly to expand industrial and productive projects. He noted that the governorate’s strategic location supports the marketing and distribution of its products across different parts of Egypt.

He also highlighted the continued cooperation between MSMEDA and Fayoum Governorate to expand financing and services directed towards owners of micro, small and medium enterprises, particularly in productive and industrial sectors. These efforts align with the state’s strategy to prioritise industrial and productive activities, meet local market demand and reduce reliance on imports, especially for products that small businesses can supply at competitive prices.

Rahmy explained that MSMEDA is also supporting several natural clusters of traditional handicrafts in Fayoum, including the pottery cluster in Kom Oshim, the ceramics cluster in Tunis Village, and clusters specialising in palm frond and wicker products. The initiative aims to develop these clusters and strengthen the skills of project owners in order to produce goods that meet international quality standards.

He added that enhancing the competitiveness of these traditional industries would open new marketing opportunities and enable artisans to participate in major exhibitions organised or supported by MSMEDA both domestically and internationally.

Rahmy noted that Fayoum is considered one of Egypt’s key centres for traditional crafts. An ambitious plan is currently being implemented, in cooperation with the governorate and relevant authorities, to upgrade and expand these clusters as part of the national strategy for handicrafts and heritage industries launched by the Prime Minister last October.

Meanwhile, the Governor of Fayoum held a meeting with Ashraf Darwish, Head of MSMEDA’s Fayoum branch, to review the agency’s financial and non-financial services supporting the MSME sector. The meeting also discussed plans to advance local development programmes, infrastructure projects and entrepreneurship training for residents.

Discussions further explored ways to create new job opportunities and promote investment in promising sectors in Fayoum, including handicrafts, livestock and poultry production, oils, and medicinal and aromatic plants.

During the meeting, the governor stressed the importance of strengthening MSMEDA’s role in creating employment opportunities for young people through small and micro enterprises. He also highlighted the importance of supporting the industrial sector for its contribution to economic growth, job creation and export expansion.

The governor further pointed to several sectors where Fayoum enjoys comparative advantages, including medicinal and aromatic plants, fisheries, poultry production and livestock, in addition to the development of the industrial complex in New Fayoum and the Kom Oshim Industrial Zone.

dailynewsegypt-


The Financial Regulatory Authority (FRA) has granted preliminary approval to Lumin Soft to join its FinTech Regulatory Sandbox, making it the third company to receive such approval since the sandbox’s launch. The move comes as part of the Authority’s efforts to promote the adoption of financial technology and expand digital services in non-banking financial activities.

Lumin Soft specialises in digital identity solutions, electronic verification and digital contracting technologies. The company submitted a project designed to verify the identity of non-Egyptians using electronic passports (e-passports) through Near Field Communication (NFC) technology, enabling the creation of an integrated digital pathway for identity verification via mobile devices.

Islam Azzam, Chairperson of the FRA, said such digital mechanisms represent an important step towards facilitating the entry of foreign investors into the Egyptian market and enabling them to access non-banking financial services.

He noted that simplifying procedures for identifying investors and verifying their identities through secure digital channels would help strengthen foreign investment flows into Egypt.

The company’s project relies on reading and verifying e-passport data in accordance with the International Civil Aviation Organization Public Key Directory (PKD) standards, ensuring both data security and reliability throughout the verification process.

Azzam added that adopting advanced technological solutions in financial services aligns with the state’s broader strategy to position Egypt as a regional hub for financial technology. He stressed that supporting digital innovation and strengthening the technological infrastructure of the financial sector will enhance the competitiveness of the Egyptian market and attract more fintech companies.

He explained that the regulatory sandbox launched by the Authority serves as a key regulatory tool for supporting innovation in the financial sector. It provides a supervised testing environment that allows companies to trial innovative business models and technological solutions before introducing them to the market, thereby accelerating the pace of digital transformation in financial services.

Through its participation in the sandbox, Lumin Soft will be able to conduct live testing of its business model within the regulatory framework. This includes the creation of digital identities using e-passports and integration with the Azimut Investments Egypt platform, enabling investors to access financial products within a regulated supervisory environment.

For his part, Ahmed Khalifa, Executive Director of the Authority’s regulatory sandbox, said the project represents a practical model for leveraging digital transformation to develop financial services. He added that it will help enable non-Egyptians to access investment services across various asset classes in the Egyptian market while enhancing the efficiency and competitiveness of the non-banking financial sector.

dailynewsegypt-


Egypt’s Minister of Industry Khaled Hashem held an expanded meeting with a delegation from Mercedes-Benz Egypt headed by CEO Stefanie Volz‏ to discuss opportunities to localise automotive manufacturing and expand the company’s operations in the Egyptian market in the coming period.

The discussions explored promising investment opportunities in Egypt’s automotive sector in line with the government’s strategy to deepen local manufacturing and facilitate the transfer of advanced global technologies.

Hashem noted that the Automotive Industry Development Program (AIDP) represents a key pillar in attracting major international automotive brands, highlighting that the programme offers an unprecedented package of incentives designed to localise the industry in Egypt.

He explained that the programme is built around two parallel objectives: meeting growing domestic demand and strengthening export capabilities. He added that developing feeder industries remains a top priority for the ministry in order to build an integrated and sustainable industrial base.

The minister invited the company’s officials to explore the benefits available under the programme, which links investment incentives to increasing the share of local content and expanding domestic supply chains.

Hashem also reviewed several operational, procedural and customs-related challenges currently facing the company, along with proposals presented by the delegation to address them.

He emphasised the ministry’s readiness to provide all necessary support and coordinate with relevant authorities to remove obstacles and facilitate procedures, ensuring a stable business environment that encourages further investment in the Egyptian market.

For her part, Volz expressed the company’s aspiration to further strengthen its strategic partnership with the Egyptian government. She noted that the company is proud to mark 26 years of operations in Egypt, operating through a main office representing the parent brand, which reflects Mercedes-Benz’s strong confidence in the promising opportunities available in the market.

The meeting comes as part of the government’s broader efforts to position Egypt as a regional hub for automotive manufacturing by attracting global manufacturers, boosting exports and increasing local value-added production.

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The Agricultural Bank of Egypt (ABE) has launched a new three-year savings certificate as part of its portfolio of savings products, aimed at providing safe and guaranteed investment instruments with competitive returns that cater to the needs of different customer segments.

The certificate offers a fixed return throughout its three-year term, with flexible options for receiving the yield.

Customers can obtain an annual return of up to 16.5% paid annually, or 16.25% paid monthly, allowing savers to choose the payout frequency that best suits their financial needs.

The certificate is available for purchase starting from EGP 1,000 and in multiples thereof, making it accessible to a broad range of customers seeking to begin saving with relatively modest amounts.

Holders of the certificate can also borrow up to 90% of its value, providing additional liquidity without the need to redeem the certificate before maturity.

The three-year instrument offers a fixed return throughout the investment period and is exempt from taxes, enhancing its appeal as a stable and secure savings option.

Customers can purchase the certificate through ABE’s network of more than 1,100 branches nationwide, facilitating access to banking services across Egypt’s various governorates.

The launch of the new certificate forms part of the bank’s strategy to expand its range of savings and financial products tailored to different customer segments, including individuals, farmers and small business owners, while reinforcing its role in providing reliable financial solutions that help customers manage and grow their savings.

Suez Canal Bank has signed a strategic partnership agreement with Lucky, a leading financial technology company operating in Egypt and the Middle East, as part of efforts to strengthen financial innovation and support the development of a more integrated and efficient financial ecosystem.

Under the agreement, the two sides will collaborate to develop and deliver innovative financial solutions, leveraging their combined expertise to expand access to digital financial services across the Egyptian market.

The partnership is built on integrating the strengths of both institutions. Lucky brings advanced capabilities in data analytics and digital customer engagement, while Suez Canal Bank contributes its robust banking infrastructure along with strong regulatory and compliance expertise. The collaboration aims to deliver integrated and accessible financial solutions tailored to the needs of diverse customer segments.

The agreement was signed by Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, and Ayman Essawy, Co-Founder and CEO of Lucky.

Commenting on the partnership, El Maghraby said the cooperation with Lucky aligns with the bank’s strategy to empower fintech companies and support the development of innovative and secure credit solutions that meet evolving customer needs. He added that the initiative also contributes to advancing Egypt’s broader goals of financial inclusion and digital transformation.

For his part, Essawy described the agreement as a strategic step in Lucky’s expansion plans, noting that the partnership will help broaden access to digital financial services and reach a wider segment of customers in the Egyptian market.

Meanwhile, Shehab Zidan, Deputy CEO and Managing Director of Suez Canal Bank, said collaboration between banks and fintech companies represents a key pillar in developing more flexible business models capable of keeping pace with the rapid changes in the financial services sector.

Nagham Kandil, Head of Retail Banking at Suez Canal Bank, added that the partnership will help expand the bank’s portfolio of digital products by combining traditional banking expertise with financial technology, enhancing the customer experience and diversifying available credit solutions.

Company Name : Medinet MASR Housing
ISIN Code : EGS65571C019
Reuters Code : MASR.CA
Content :
The Board of Directors' decisions held on 12/03/2026 including the unaudited financial results for the ended year at 31/12/2025 (standalone and consolidated).

News Attachment 1 (384 KB)
News Attachment 2 (142 KB)

dailynewsegypt


Global oil markets sent a clear signal this week that a massive release of 400 million barrels of stockpiled crude by the United States and its allies is not enough to address the unprecedented supply disruption triggered by the war with Iran. Crude prices have surged more than 17% since the International Energy Agency (IEA) announced the emergency release on Wednesday, with Brent oil prices closing above $100 on Friday for the second session in a row.

The oil market is currently facing its worst supply upheaval in history with no signs of receding, as crude prices have jumped approximately 40% since the outbreak of the conflict. While traders initially believed the closure of the Strait of Hormuz might be short-lived, market participants are now bracing for a longer-term disruption. Iranian leader Mojtaba Khamenei used his first remarks since taking office last week to state that his country should keep the waterway closed.

In response, US President Donald Trump posted on social media that preventing Iran from possessing a nuclear weapon is more important to him than rising oil prices. This comes as the U.S. leads the largest-ever global withdrawal from emergency stockpiles, contributing 172m barrels—or 43% of the total IEA release—from its Strategic Petroleum Reserve. The 400m barrel flood, involving more than 30 nations across Europe, North America, and Northeast Asia, represents the largest release in the IEA’s 50-year history.

Egypt is moving on several levels to secure fiscal and energy resilience in anticipation of further repercussions from the war. Finance Minister Ahmed Kouchouk told a forum hosted by the National Front Party that the country will increase reserve allocations in the budget for the next fiscal year, beginning in June, to 5% of total spending from the current 3%. Kouchouk stated the move is intended to “provide fiscal space to deal with the potential economic repercussions of the Iran war.” He added that the government has negotiated with international financial institutions to secure additional funding that can be accessed within days if needed.

The Egyptian government is also preparing for a new round of wage increases for public employees to counter inflation and rising energy costs. Domestic petroleum prices have risen by between 14% and 30% following the global energy spike triggered by the conflict between the U.S. and Israel on one side and Iran on the other.

Petroleum Minister Karim Badawi told the same forum that while energy supplies have not been directly affected, the government may allow the private sector to import liquefied natural gas (LNG) “if the need arises.” Badawi noted a current “abundance and diversity” of supply sources and stated that Egypt has not been impacted by the halt of production at gas liquefaction plants in some Arab countries due to diverse shipments arriving via the Mediterranean. Egypt secures its oil requirements through two main routes: the Red Sea via the port of Yanbu in Saudi Arabia, and the Mediterranean via Suez Canal shipments.

To further bolster energy security, Egypt has operationalised its electricity interconnection project with Saudi Arabia, allowing for a daily exchange of power. The project’s total capacity is 3,000 MW across two stages, with the first stage providing 1,500 MW. Kouchouk confirmed that negotiations are underway to introduce new energy projects before next summer. Egypt is also pursuing plans for interconnection with Greece and Cyprus to export renewable energy to Europe, alongside existing links with Libya, Sudan, and Jordan.

In the health sector, Minister Khaled Abdel Ghaffar confirmed that approximately 55% of the production requirements for Egyptian pharmaceutical factories are currently in stock, representing a supply sufficient for one year. “If the crisis is prolonged, we may be affected in the future, but currently we have enough production supplies,” Abdel Ghaffar said.

Investing.com –

Morocco stocks were lower after the close on Friday, as losses in the Utilities, Banking and Mining sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares lost 1.76%.

The best performers of the session on the Moroccan All Shares were Societe des Boissons du Maroc SA (CSE:SBM), which rose 5.93% or 117.00 points to trade at 2,090.00 at the close. Meanwhile, Med Paper (CSE:MDP) added 2.86% or 0.70 points to end at 25.20 and Sanlam Maroc SA (CSE:SAH) was up 1.16% or 25.00 points to 2,175.00 in late trade.

The worst performers of the session were Disway SA (CSE:DWY), which fell 9.82% or 81.00 points to trade at 744.00 at the close. Marocaine Ste de Therapeutique SA (CSE:SOT) declined 6.77% or 113.00 points to end at 1,555.00 and Alliances (CSE:ADI) was down 5.42% or 22.50 points to 393.00.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 46 to 10 and 5 ended unchanged.

Crude oil for April delivery was up 0.77% or 0.74 to $96.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 1.01% or 1.01 to hit $101.47 a barrel, while the April Gold Futures contract fell 1.64% or 83.99 to trade at $5,041.81 a troy ounce.

EUR/MAD was down 0.26% to 10.80, while USD/MAD rose 0.45% to 9.43.

The US Dollar Index Futures was up 0.54% at 100.29.

Investing.com –

Turkey stocks were lower after the close on Friday, as losses in the Banking, Leasing & Factoring and Telecoms sectors led shares lower.

At the close in Istanbul, the BIST 100 fell 1.45%.

The best performers of the session on the BIST 100 were Petkim Petrokimya Holding AS (IS:PETKM), which rose 6.56% or 1.24 points to trade at 20.14 at the close. Meanwhile, Dap Gayrimenkul Gelistirme AS (IS:DAPGM) added 4.72% or 0.60 points to end at 13.30 and Turkiye Sigorta AS (IS:TURSG) was up 4.42% or 0.57 points to 13.47 in late trade.

The worst performers of the session were Kiler Holding AS (IS:KLRHO), which fell 9.99% or 19.70 points to trade at 177.50 at the close. Turkiye Halk Bankasi (IS:HALKB) declined 5.94% or 2.62 points to end at 41.52 and Efor Yatırım Sanayi ve Ticaret A.Ş. (IS:EFOR) was down 4.88% or 0.88 points to 17.17.

Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 437 to 161 and 16 ended unchanged.

Gold Futures for April delivery was down 1.12% or 57.61 to $5,068.19 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.06% or 0.06 to hit $95.79 a barrel, while the May Brent oil contract rose 0.58% or 0.58 to trade at $101.04 a barrel.

USD/TRY was up 0.18% to 44.19, while EUR/TRY fell 0.69% to 50.66.

The US Dollar Index Futures was up 0.51% at 100.26.

Investing.com –

Greece stocks were higher after the close on Friday, as gains in the Construction, Travel and Technology sectors led shares higher.

At the close in Athens, the Athens General Composite gained 0.10%.

The best performers of the session on the Athens General Composite were Lavipharm SA (AT:LPHr), which rose 4.77% or 0.06 points to trade at 1.23 at the close. Meanwhile, HELLENiQ ENERGY Holdings SA (AT:HEPr) added 4.40% or 0.40 points to end at 9.50 and Metlen Energy & Metals (AT:MTLNr) was up 4.37% or 1.58 points to 37.70 in late trade.

The worst performers of the session were Athens International Airport SA (AT:AIAr), which fell 1.67% or 0.18 points to trade at 10.63 at the close. National Bank of Greece SA (AT:NBGr) declined 1.63% or 0.21 points to end at 12.69 and Eurobank Ergasias SA (AT:EURBr) was down 1.43% or 0.05 points to 3.45.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 81 to 32 and 15 ended unchanged.

Shares in HELLENiQ ENERGY Holdings SA (AT:HEPr) rose to 5-year highs; rising 4.40% or 0.40 to 9.50.

Gold Futures for April delivery was down 1.42% or 72.71 to $5,053.09 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.51% or 0.49 to hit $96.22 a barrel, while the May Brent oil contract rose 0.93% or 0.93 to trade at $101.39 a barrel.

EUR/USD was down 0.58% to 1.14, while EUR/GBP unchanged 0.17% to 0.86.

The US Dollar Index Futures was up 0.56% at 100.31.

Investing.com –

Denmark stocks were higher after the close on Friday, as gains in the Consumer Goods, Real Estate and Industrials sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 gained 0.00%.

The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S A (CSE:MAERSKa), which rose 3.73% or 590.00 points to trade at 16,390.00 at the close. Meanwhile, AP Moeller - Maersk A/S B (CSE:MAERSKb) added 3.64% or 590.00 points to end at 16,820.00 and Zealand Pharma A/S (CSE:ZELA) was up 2.05% or 5.40 points to 268.20 in late trade.

The worst performers of the session were FLSmidth & Co. (CSE:FLS), which fell 3.83% or 19.90 points to trade at 499.60 at the close. Genmab (CSE:GMAB) declined 2.18% or 38.00 points to end at 1,702.50 and Jyske Bank A/S (CSE:JYSK) was down 0.86% or 7.50 points to 869.50.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 72 to 45 and 21 ended unchanged.

Crude oil for April delivery was up 1.15% or 1.10 to $96.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 1.16% or 1.17 to hit $101.63 a barrel, while the April Gold Futures contract fell 1.50% or 76.66 to trade at $5,049.14 a troy ounce.

USD/DKK was up 0.66% to 6.53, while EUR/DKK unchanged 0.02% to 7.47.

The US Dollar Index Futures was up 0.61% at 100.36.

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France stocks were lower after the close on Friday, as losses in the Consumer Goods, Industrials and Basic Materials sectors led shares lower.

At the close in Paris, the CAC 40 lost 0.91% to hit a new 3-months low, while the SBF 120 index fell 0.91%.

The best performers of the session on the CAC 40 were TotalEnergies SE (EPA:TTEF), which rose 2.74% or 1.93 points to trade at 72.33 at the close. Meanwhile, Danone SA (EPA:DANO) added 2.39% or 1.68 points to end at 71.92 and Orange SA (EPA:ORAN) was up 2.01% or 0.35 points to 17.52 in late trade.

The worst performers of the session were Stellantis NV (EPA:STLAM), which fell 4.39% or 0.26 points to trade at 5.71 at the close. LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) declined 4.30% or 21.30 points to end at 473.70 and ArcelorMittal SA (AS:MT) was down 4.28% or 2.00 points to 44.73.

The top performers on the SBF 120 were JC Decaux SA (EPA:JCDX) which rose 3.53% to 19.63, TotalEnergies SE (EPA:TTEF) which was up 2.74% to settle at 72.33 and Eurazeo (EPA:EURA) which gained 2.41% to close at 41.66.

The worst performers were ID Logistics SAS (EPA:IDLA) which was down 7.44% to 329.50 in late trade, Eramet SA (EPA:ERMT) which lost 4.85% to settle at 51.05 and Worldline SA (EPA:WLN) which was down 4.49% to 0.37 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 318 to 162 and 82 ended unchanged.

Shares in TotalEnergies SE (EPA:TTEF) rose to all time highs; rising 2.74% or 1.93 to 72.33. Shares in Stellantis NV (EPA:STLAM) fell to 5-year lows; losing 4.39% or 0.26 to 5.71. Shares in JC Decaux SA (EPA:JCDX) rose to 52-week highs; up 3.53% or 0.67 to 19.63. Shares in TotalEnergies SE (EPA:TTEF) rose to all time highs; up 2.74% or 1.93 to 72.33. Shares in Worldline SA (EPA:WLN) fell to all time lows; down 4.49% or 0.02 to 0.37.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00% to 18.96 a new 52-week high.

Gold Futures for April delivery was down 1.49% or 76.34 to $5,049.46 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.16% or 1.11 to hit $96.84 a barrel, while the May Brent oil contract rose 0.88% or 0.88 to trade at $101.34 a barrel.

EUR/USD was down 0.63% to 1.14, while EUR/GBP unchanged 0.14% to 0.86.

The US Dollar Index Futures was up 0.60% at 100.36.

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Germany stocks were lower after the close on Friday, as losses in the Construction, Industrials and Transportation & Logistics sectors led shares lower.

At the close in Frankfurt, the DAX declined 0.65%, while the MDAX index declined 1.47%, and the TecDAX index declined 0.19%.

The best performers of the session on the DAX were Zalando SE (ETR:ZALG), which rose 6.90% or 1.52 points to trade at 23.54 at the close. Meanwhile, Rheinmetall AG (ETR:RHMG) added 2.71% or 42.00 points to end at 1,592.50 and E.ON SE (ETR:EONGn) was up 2.60% or 0.51 points to 19.90 in late trade.

The worst performers of the session were Siemens Energy AG (ETR:ENR1n), which fell 5.70% or 8.70 points to trade at 143.95 at the close. Volkswagen AG VZO O.N. (ETR:VOWG_p) declined 3.12% or 2.88 points to end at 89.50 and Daimler Truck Holding AG (ETR:DTGGe) was down 2.40% or 1.05 points to 42.68.

The top performers on the MDAX were K+S AG (ETR:SDFGn) which rose 2.35% to 18.26, RTL Group SA (ETR:RRTL) which was up 2.34% to settle at 37.15 and TeamViewer AG (ETR:TMV) which gained 1.62% to close at 4.65.

The worst performers were Thyssenkrupp AG O.N. (ETR:TKAG) which was down 6.02% to 7.80 in late trade, Kion Group AG (ETR:KGX) which lost 4.54% to settle at 45.84 and Fraport AG (ETR:FRAG) which was down 4.30% to 70.15 at the close.

The top performers on the TecDAX were Siltronic AG (ETR:WAFGn) which rose 8.06% to 58.35, SMA Solar Technology AG (ETR:S92G) which was up 2.97% to settle at 33.96 and SUSS MicroTec SE (ETR:SMHNn) which gained 2.92% to close at 60.00.

The worst performers were 11 AG (ETR:1U1) which was down 8.80% to 22.80 in late trade, United Internet AG NA (ETR:UTDI) which lost 3.80% to settle at 26.34 and Evotec AG O.N. (ETR:EVTG) which was down 3.02% to 4.18 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 374 to 242 and 26 ended unchanged.

Shares in E.ON SE (ETR:EONGn) rose to 5-year highs; rising 2.60% or 0.51 to 19.90. Shares in K+S AG (ETR:SDFGn) rose to 52-week highs; up 2.35% or 0.42 to 18.26. Shares in Thyssenkrupp AG O.N. (ETR:TKAG) fell to 52-week lows; falling 6.02% or 0.50 to 7.80. Shares in SUSS MicroTec SE (ETR:SMHNn) rose to 52-week highs; up 2.92% or 1.70 to 60.00. Shares in Evotec AG O.N. (ETR:EVTG) fell to 5-year lows; falling 3.02% or 0.13 to 4.18.

The DAX volatility index, which measures the implied volatility of DAX options, was up 2.10% to 28.84 a new 6-months high.

Gold Futures for April delivery was down 1.43% or 73.09 to $5,052.71 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.95% or 0.91 to hit $96.64 a barrel, while the May Brent oil contract rose 0.69% or 0.69 to trade at $101.15 a barrel.

EUR/USD was down 0.63% to 1.14, while EUR/GBP unchanged 0.13% to 0.86.

The US Dollar Index Futures was up 0.59% at 100.35.

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Italy stocks were lower after the close on Friday, as losses in the Industrials, Healthcare and Financials sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 fell 0.34%.

The best performers of the session on the Investing.com Italy 40 were Eni SpA (BIT:ENI), which rose 2.69% or 0.58 points to trade at 22.35 at the close. Meanwhile, Saipem SpA (BIT:SPMI) added 2.46% or 0.08 points to end at 3.37 and Enel (BIT:ENEI) was up 2.36% or 0.22 points to 9.71 in late trade.

The worst performers of the session were Stellantis NV (BIT:STLAM), which fell 4.37% or 0.26 points to trade at 5.71 at the close. Fincantieri SpA (BIT:FCT) declined 3.35% or 0.46 points to end at 13.27 and Prysmian SpA (BIT:PRY) was down 3.08% or 3.13 points to 98.42.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 390 to 290 and 38 ended unchanged.

Shares in Eni SpA (BIT:ENI) rose to 5-year highs; gaining 2.69% or 0.58 to 22.35. Shares in Stellantis NV (BIT:STLAM) fell to 5-year lows; falling 4.37% or 0.26 to 5.71.

Crude oil for April delivery was up 0.96% or 0.92 to $96.65 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 0.73% or 0.73 to hit $101.19 a barrel, while the April Gold Futures contract fell 1.41% or 72.04 to trade at $5,053.76 a troy ounce.

EUR/USD was down 0.63% to 1.14, while EUR/GBP unchanged 0.13% to 0.86.

The US Dollar Index Futures was up 0.61% at 100.36.

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Spain stocks were lower after the close on Friday, as losses in the Consumer Goods, Building & Construction and Financial Services & Real Estate sectors led shares lower.

At the close in Madrid, the IBEX 35 fell 0.47%.

The best performers of the session on the IBEX 35 were Repsol (BME:REP), which rose 2.96% or 0.66 points to trade at 22.93 at the close. Meanwhile, Cellnex Telecom SA (BME:CLNX) added 2.05% or 0.59 points to end at 29.36 and Redeia Corporacion SA (BME:REDE) was up 1.69% or 0.25 points to 15.07 in late trade.

The worst performers of the session were ArcelorMittal SA (BME:MTS), which fell 4.28% or 2.00 points to trade at 44.74 at the close. Sacyr SA (BME:SCYR) declined 2.20% or 0.09 points to end at 4.09 and International Consolidated Airlines Group S.A. (BME:ICAG) was down 2.12% or 0.09 points to 4.10.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 124 to 65 and 14 ended unchanged.

Shares in Repsol (BME:REP) rose to 5-year highs; rising 2.96% or 0.66 to 22.93.

Gold Futures for April delivery was down 1.43% or 73.30 to $5,052.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.88% or 0.84 to hit $96.57 a barrel, while the May Brent oil contract rose 0.63% or 0.63 to trade at $101.09 a barrel.

EUR/USD was down 0.64% to 1.14, while EUR/GBP unchanged 0.13% to 0.86.

The US Dollar Index Futures was up 0.61% at 100.36.

Investing.com –

U.K. stocks were lower after the close on Friday, as losses in the Automobiles & Parts, Mining and Industrial Engineering sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 fell 0.44%.

The best performers of the session on the Investing.com United Kingdom 100 were Tesco PLC (LON:TSCO), which rose 2.82% or 13.40 points to trade at 488.90 at the close. Meanwhile, Hikma Pharmaceuticals PLC (LON:HIK) added 2.56% or 31.00 points to end at 1,240.00 and Imperial Brands PLC (LON:IMB) was up 2.30% or 72.00 points to 3,199.00 in late trade.

The worst performers of the session were Fresnillo PLC (LON:FRES), which fell 6.17% or 224.00 points to trade at 3,406.00 at the close. Antofagasta PLC (LON:ANTO) declined 5.53% or 205.00 points to end at 3,503.00 and Rolls-Royce Holdings PLC (LON:RR) was down 5.30% or 68.00 points to 1,215.50.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1074 to 688 and 537 ended unchanged.

Gold Futures for April delivery was down 1.43% or 73.34 to $5,052.46 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.08% or 1.03 to hit $96.76 a barrel, while the May Brent oil contract rose 0.79% or 0.79 to trade at $101.25 a barrel.

GBP/USD was down 0.78% to 1.32, while EUR/GBP unchanged 0.14% to 0.86.

The US Dollar Index Futures was up 0.62% at 100.37

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Canada stocks were lower after the close on Friday, as losses in the Materials, IT and Clean Technology sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite lost 0.91%.

The best performers of the session on the S&P/TSX Composite were Empire Company Ltd (TSX:EMPa), which rose 3.89% or 1.84 points to trade at 49.19 at the close. Meanwhile, Bird Construction Inc. (TSX:BDT) added 3.78% or 1.24 points to end at 34.08 and Kelt Exploration Ltd. (TSX:KEL) was up 3.20% or 0.29 points to 9.35 in late trade.

The worst performers of the session were Methanex Corporation (TSX:MX), which fell 10.16% or 8.03 points to trade at 71.03 at the close. First Majestic Silver Corp. (TSX:AG) declined 7.88% or 2.65 points to end at 30.96 and Equinox Gold Corp (TSX:EQX) was down 7.75% or 1.68 points to 20.01.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 577 to 368 and 73 ended unchanged.

Shares in Bird Construction Inc. (TSX:BDT) rose to all time highs; up 3.78% or 1.24 to 34.08. Shares in Kelt Exploration Ltd. (TSX:KEL) rose to 5-year highs; up 3.20% or 0.29 to 9.35.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 5.32% to 21.39 a new 6-months high.

Gold Futures for April delivery was down 2.09% or 107.24 to $5,018.56 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 2.94% or 2.81 to hit $98.54 a barrel, while the May Brent oil contract rose 2.58% or 2.59 to trade at $103.05 a barrel.

CAD/USD was unchanged 0.63% to 0.73, while CAD/EUR unchanged 0.21% to 0.64.

The US Dollar Index Futures was up 0.75% at 100.50.