RIYADH: Egypt’s non-oil exports rose 50 percent in May from a year earlier to $2.288 billion.
Non-oil exports increased by 19 percent during the first five months of 2021 amounting to $12.3 billion while imports increased by 10 percent amounting to $29.1 billion, year-on-year, Asharq Business reported, citing official data.
The economic reform program adopted by the government is a mainstay in achieving positive growth rates and creating new jobs, said Egyptian Trade Minister Nevine Gamea in a filing .
The minister attributed the increase in exports to efforts to support the production and export sectors during the pandemic.
Medical industries, leather, engineering and electronic goods sectors were among 12 sectors that witnessed significant export growth.
The European Union is the most popular destination for Egyptian exports.
Egypt’s non-oil exports surge 50 percent in May
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Egypt’s non-oil exports surge 50 percent in May
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
