CAIRO: The average yield on Egyptian 182-day Treasury bills fell to 10.177 percent at an auction on Sunday from 10.306 percent at last auction on May 2. The central bank accepted bids worth LE1 billion ($178 million), the same amount it was seeking. It accepted bids at rates between 10.050 and 10.229 percent compared to …

CAIRO: Egypt’s Misr Beni Suef Cement posted a 1.2 percent fall in net profit to LE 106.1 million ($19 million) for the first quarter of 2010, the stock exchange said on Sunday. The company, which gave no further details on its results, had made a net profit of LE 107.4 million in the same period …

CAIRO: Citadel Capital’s consolidated net loss for the first quarter of 2010 grew to LE 33.7 million ($6 million) from 6.2 million pounds in the year-earlier period, the bourse said on Sunday. The private equity firm posted a non-consolidated net profit for the first quarter of LE 1.5 million pounds, compared with a net loss …

Egypt’s largest listed cement firm, Suez Cement, posted an 8.4 percent fall in first-quarter net profit but net consolidated sales rose, boosted by a buoyant construction sector. The firm, a subsidiary of Italcementi, said on Thursday it made a net profit of LE 364.7 million ($65.1 million) on a 2.3 percent rise in consolidated net …

Egyptian International Pharmaceutical Industries Co (Eipico) posted a 17 percent rise in first quarter net profit to LE 93.5 million ($16.69 million), the stock exchange said on Thursday. Net profit in the same period a year ago was LE 79.7 million, the bourse statement said.

Sidi Kerir Petrochemicals Q1 net profit rose 53 percent to LE 214 million ($38.19 million), the stock exchange said on Thursday. Net profit was LE 140 million in the same period a year ago.

Egyptian paint maker Pachin’s 9 month net profit soared 93 percent to LE 114.1 million ($20.36 million), the stock exchange said on Thursday. Net profit was LE 59.1 million a year earlier.

Egyptian garment maker El Nasr Clothing & Textile Co. (Kabo) reported a net loss of LE 6.9 million ($1.23 million) for the nine months to end-March, the stock exchange said on Wednesday. The firm made a net loss of LE 1.5 million in the same period a year earlier, the exchange added. Kabo produces underwear …

Egypt’s Raya Technology and Communication made a net profit of LE 11.9 million ($2.1 million) in the first quarter of 2010, more than triple the year-ago quarter, the bourse said on Thursday. The firm, which sells mobile handsets, runs call centers and provides outsourced IT services, made LE 3.6 million in the first quarter of …

GB Auto expects to double its profit in the second quarter of 2010 and plans to export buses to Middle Eastern and European markets by the end of 2010, executives said on Thursday. "In the coming quarter, we expect profit to increase quite a bit on Iraq," chief finance officer Colin Sykes said in a …

Egyptian telecoms firm Orascom Telecom on Thursday said it expects to boost capital expenditure in Bangladesh and Pakistan this year and could lower it in Algeria depending on the operating environment there. The firm expects to increase overall capital expenditure by about $200 million over last year’s figure, mostly in the two South Asian markets …

CAIRO: Egypt’s Oriental Weavers, the world’s largest machine-woven carpet producer, posted a 5 percent drop in first-quarter net profit on lower domestic demand. Net profit after minority interests reached LE 92 million ($17.3 million), the company said on Thursday, on revenue of LE 915 million. "The drop in local sales was due to the lack …

CAIRO: Egyptian appliance maker Olympic Group reported first-quarter net profit growth of 74 percent on higher domestic sales, particularly in its refrigerator segment. Net profit for the quarter was LE 53.1 million ($9.5 million) while revenue was LE 649 million. "Year on year, growth in consolidated revenue came mainly on the back of a 16 …

CAIRO: Egyptian telecoms firm Orascom Telecom on Wednesday said its net profit tumbled in the first quarter of 2010, lagging forecasts after start-up costs in Canada and troubles in Algeria hurt its bottom line. Orascom said the 32 percent fall in profit, to $49 million, was also due to an exceptional gain in the same …

CAIRO: Landline monopoly Telecom Egypt plans to use its new submarine cable to boost its internet offering and is also seeking to enter the competitive mobile market which has drained its traditional retail revenues. First-quarter net profit rose 3 percent to LE 992 million ($177 million), beating forecasts after the company booked $160 million of …

Commercial International Bank (CIB), Egypt’s biggest private bank by assets, said a surge in non-interest income helped first-quarter consolidated net income grow 12 percent, beating forecasts. The board of directors approved a doubling of the bank’s paid-in capital to LE 5.9 billion ($1.05 billion) through a dividend of one share for every share held, the …

Real estate firm Egyptian Resorts slipped to a net loss of LE 2.9 million ($517,600) in the first quarter of 2010 after failing to sell any land, its main source of income. But analysts said the company, which has sold land for as much as $200 per square meter, could swing back to profitability thanks …

France Telecom SA Chief Executive Officer Stephane Richard said he is ready to discuss acquiring other assets from Orascom Telecom Holding SAE, although there are no talks about its Algerian mobile unit, La Tribune reported, citing an interview. France Telecom’s priority is to expand in emerging markets and the company is looking for acquisitions in …

Egyptian developer Heliopolis Housing increased its net profit by 33 percent in the nine months to end-March, the stock exchange said on Tuesday. The mostly state-owned firm, one of Egypt’s oldest home builders, made a net profit of LE 121.8 million ($21.7 million) in the nine-month period, up from LE 91.9 million a year earlier, …

Orascom Development Holding shareholders agreed on Tuesday to a 0.65 Swiss franc ($0.586) per share cash distribution that will reduce the nominal value of their shares, the company said. The cash distribution, which will reduce the par value of each share by 0.5 francs, is unrelated to a capital increase called off two weeks ago …

CAIRO: Egypt’s main index ended almost flat with traders expecting negative investor sentiment to remain as a global slump of world stocks continues. Telecom firms Mobinil and Orascom Telecom (OT) weighed on the market on fears Greece’s debt struggle could crush other European economies. "The market’s performance is conditional upon global market’s performance in the …

DUBAI: Bahrain’s retail lender BBK plans to meet investors starting this Thursday and may issue a $500 million bond if market conditions are suitable, its chief executive said on Tuesday. "If we see the market strong enough (during the road-show) we may issue a bond," Abdulkarim Bucheery told Reuters over the phone. "If we are …