Maridive to conduct offshore explorations in Mediterranean: Source
The company will complete the $151m Petrofac project in the Emirates for ADMA-OPCO in the first quarter of 2016
Mohamed Ahmed
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Latest by Mohamed Ahmed
Preliminary studies to establish Mansoura Civil Airport completed
Studies show the proposed site near the military air base in Al-Shawa is appropriate for the airport
Stock market expected to decline due to increase in interest rates
Stock exchange to face short wave of profits as a result of the increase of last 6 sessions with weak purchasing power
Suez Canal traffic data for the week of 18 December
The average per ship load was estimated at 55,300 tonnes.
State Council sends capital market by-law amendments to Investment Ministry
The State Council reviewed the amendments of the law Saturday, to ensure the amendment’s legal setting and its wording accuracy.
Sawiris revives dream of CI Capital competing with EFG Hermes after 10 years
If CI Capital and Beltone merge; indicators anticipate EFG Hermes to dominate with support of its regional arm on the short term, with eyes open towards merger in a few years
Executive regulations grant charitable funds freedom to invest in different schemes: EFSA Chairman
Chairman of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy said the amendments on the executive regulations of the capital market, which are expected to be approved by the parliament, will enable charitable funds to invest freely without adhering to specific investment schemes. The cash funds will have the right to invest in stocks, deposits, …
EFSA awaits Sawiris’ offer to acquire CI Capital
Outlooks indicate that Rasmala Investment Bank will make an offer within hours, which will compete with Sawiris’ offer, to acquire CI Capital, CIB’s arm in the sector of non-banking financial services.
321 ships transited Suez Canal from 11-17 December
Revenues declined to $408.4m in November compared to $449.2m in October
ESAA trained EGX personnel to deal with companies’ merging, dividing cases
Programme took three weeks, included clarification of modern concepts of Egyptian accounting standards such as handling financial leasing accounts, fair valuesÂ
State Council to discuss amendments to Capital Market Law
The EFSA announced on 19 August the approval of the Economic Legislation Committee of the Supreme Committee for Legislative Reform of the proposed amendments to the Capital Market Law, with only a few comments on the draft.
Suez Canal revenues fall to $408.4m in November, marking 7.7% annual decline
Revenues record decline for third consecutive month since inaugurating the new canal because of decline in the number of vessels, decline of international currencies against the dollar
Auditor commissioned to investigate Marsa Alam company violations: EFSA
Trading on stock exchange will resume after financial lists are reviewed, shareholders will have the right to seek compensation
State, manufacturers appeal to activate auto industry strategy
Two of the main issues addressed during Wednesday’s session of the second Egypt Automotive Summit were the inadequacy of the new automotive industry strategy and the need for major infrastructure investments. This was during the second discussion panel held in the summit, entitled “The automotive industry strategy and feeder industries”. The panel moderator, Amr Nassar, …
VAT to raise taxes on cars with capacities less than 1,000 litres: ETA
Services and spare parts sectors to be subjected to the general tax rate instead of the current 10%, says Salah Yousef
GB Auto investments suspended due to dollar shortage: Ghabbour Â
GB Auto’s new investments are suspended due to the dollar shortage, CEO of GB Auto Raouf Ghabbour said Tuesday at the Egypt Automotive summit. He told Daily News Egypt they have been communicating with Indian Bajaj Auto, the technical partner for the group in the motorcycle factory, regarding the local component ratio. Those plans however …
Government failing on use of funds: EFSA chairman
More bonds could be issued to finance mega projects, says Sherif Samy
How will the government acquire financing sources for national projects?
The presidency announced several times that it supports the implementation of billion-pound national mega projects whether in the infrastructure sector, logistic services sector, or land reclamation. However, financing mechanisms remain a matter of controversy in governmental projects. A prominent example is the amendment of the government’s plan for land reclamation, decreasing the targeted area of …
348 ships transited Suez Canal last week, with an increase of 8.75%
The average load per ship was 56,553 tonnes, compared to 56,567 tons during the previous week.
Archer Consulting arranging $135m for ship repair project
The shareholder structure is divided between 20% owned by the Egyptian Gulf Bank (EGB) and 20% by Egyptian Gulf Holding for Financial Investments (EGHFI).
El-Sweedy signs deal for 50MW solar-power plant
Turn-key project revenues up by 148%, metre revenues up 21%
Egypt settles $547m dues to foreign EGX investors: CBE
Decision expected to boost stock market indicators, says EGX Chairman