Latest in Tag: Business Highlight
Latest in Tag: Business
Egyptian Iron Steel, Ezz steel suffer notable losses
A protection fee was imposed on rebar steel in April 2015
China, Germany ink biz contracts worth billions
China and Germany have signed a number of business deals despite the current slowdown of economic growth in the Asian nation. Visiting German Chancellor Angela Merkel supported moves towards a free trade agreement. On the fringes of German Chancellor Angela Merkel’s two-day visit to China, the two nations on Thursday signed business contracts worth 18.6 …
Singapore still top place for doing business
When it comes to the efficiency of financial regulations and the ease of doing business, Singapore is second to none. The dynamic Asian city state once again tops the World Bank’s 2016 global rankings. Singapore held on to its business-friendly top ranking in the World Bank’s “Doing Business 2016” report released in Bangkok on Wednesday. …
New tenders to be offered by NUCA
Last week, the authority offered 5 bids in 3 new cities
Alibaba’s Jack Ma to advise Cameron on business
Alibaba founder Jack Ma will join the business advisory group of British Prime Minister David Cameron. As one of China’s top economic figures, Ma is to help the UK secure better access to the Asian country’s market. The British Prime Minister’s office announced Monday that Chinese billionaire and Alibaba CEO Jack Ma would join David …
German investors head for Zimbabwe
Zimbabwe’s economy could be on the path to recovery as international investors rediscover the southern African country after more than 15 years of frosty relations with western capitals. A German business delegation led by the head of the German African Business Association, Christoph Kannengiesser, is visiting Zimbabwe on a three day mission beginning Monday October …
Collected customs surges over 19% during FY 2014/2015
Regulations currently being unified at all ports
Egypt ranks second in Most Powerful Arab Women in Government for 2015: Forbes Middle East
Egypt continues to lead the pack, with 18% of candidates
Deutsche Bank to trim business in Russia
Germany’s biggest bank has announced it would close its onshore corporate banking and securities business in Russia amid a strategy change aimed at reducing complexity, costs, risks and capital consumption. Deutsche Bank said in a statement released Friday that its Russian Corporate Finance and Markets businesses would now operate from international hubs. The bank would, …
Dorra targets 10,000 residential units project
The company seeks to build 3,000 units per year
Market unaffected by confiscated Muslim Brotherhood assets: Economic expert
Assets of hundreds of Muslim Brotherhood members, NGOs and several companies have been confiscated since Morsi’s ouster
New gas discovery will not cover Egypt’s needs for next 4 years: Taqa Arabia executive
Gas discovery will, however, enhance economy, reduce budget deficit and create job opportunities, says Abu Bakr
JBIC extends loans to Egyptian energy companies
Hydrocarbon, infrastructure sectors are most promising sectors in Egypt, says Middle East Chief Representative
Health, Planning Ministries agree to establish higher health and medicine council: Cabinet
There will be a comprehensive review of all health sector regulatory legislation which includes system upgrading, says Minister of Health
Etisalat Egypt, CBE negotiate to activate mobile money transfers from abroad
Etisalat Egypt has acquired 19% of the Emirates Telecommunications Corporation (ETC) revenues
Outstanding balance of treasury bonds at EGP 614.19bn by end of August: Ministry of Finance
According to the Ministry of Finance, the balances of the second type of bond, the zero-coupon bond, is up to about EGP 61.29bn, with an average interest rate of 12.007%.
OCI reports 51% backlog growth to $7.2bn
Orascom Construction Industries (OCI) reported a 51% backlog growth to $7.2bn, and its earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to $64m in quarter two (Q2) of 2015
More Germans at risk of falling into poverty
Germany’s public coffers are full but for poorly educated workers, the danger of slipping into poverty is greater now than it was 10 years ago, new data from the country’s Federal Statistical Office has revealed. The importance of having an education or vocational training in Europe’s largest economy has increased over the last decade, according …
EGX rises minimally, remains affected by global performance
Response of capital market was violent following expectations of a global economic slowdown, Omran highlighted
German business confidence rises unexpectedly
A closely watched survey has revealed renewed confidence in the German economy despite market turbulence in China and concerns over the Greek debt crisis. Managers’ assessments of business were surprisingly upbeat. Business sentiment in Germany remained unexpectedly robust in August, the Munich-based Ifo think tank said Tuesday. The institute recorded an uptick of 0.3 points …
China’s stocks rout evokes global slowdown fears
The more than 8% plunge in the Shanghai Stock Exchange on Monday, 24 August , is the biggest single-day loss Chinese stocks have seen since the peak of the global financial crisis in 2007
Qantas soars back into profit one year after huge losses
Australian airline Qantas has reported a healthy profit one year after having posted huge losses. It also announced it will take delivery of eight Boeing 787 Dreamliner aircraft. Qantas posted an Aus$557m (US$409m) annual net profit in the year ending 30 June.
Figures for tourist arrivals inch up 4.4% YoY: CAPMAS
Libyan tourists take largest share among visiting Middle Eastern tourists, agency highlighted
Arabian Cement studies selling frozen shares
Company held an IPO in May 2014
Twitter, NFL intensify business ties
Short messaging service Twitter and the US National Football League have agreed on a longer content and advertising deal. It goes far beyond the contracts the two sides have shared so far. Twitter and the NFL on Monday announced a partnership accord, which they said would take previous cooperation contracts in 2013 and 2014 to …
Munich Re ups profit guidance on healthy quarter
Germany’s Munich Re has reported a marked rise in second-quarter profit. The world’s largest reinsurer said the strong result was due to its thriving investment business and a lower rate of major losses globally. Munich Re announced Thursday it posted a bottom-line profit of 1.1 billion euros ($1.2 billion) for the second quarter of 2015, …
Barclays says its activities in Africa strengthened
Bank gained half a million new customers in retail banking
Fed leaves door open for September rate hike
Following a two-day policy meeting, the Federal Reserve kept its benchmark interest rates unchanged at near zero percent. The central bank also said that the US economy and jobs market are continuing to strengthen. The bank’s rate-setting Federal Open Market Committee said in a policy statement on Wednesday that the US economy has expanded “moderately” …
5 oil, gas agreements signed between Egypt, Italy
Expansion in ASORC and MIDOR projects totals $3.5bn
Egyptian firms fear political instability, corruption: EBRD
Firms also identified informal sectors as one of the main obstacles they face in Egypt, the EBRD’s latest report highlighted