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Mobile app use jumped over 100% in 2013

Deloitte’s annual technology predictions report published shows that in the UK at least one of the world’s most mature mobile markets the number of text messages sent over the course of 2013 fell by some 7 billion to 145 billion messages.

Daily News Egypt

Orascom Construction suspends tax payment to Egypt

Reuters – Orascom Construction Industries has suspended payment of a 31 December instalment of an EGP 7.1bn ($1.02bn) tax settlement with Egypt’s government, its Amsterdam-listed parent company OCI NV said on Wednesday. The settlement was agreed last April, when Islamist President Mohamed Morsi was still in office, and related to claims the company had failed …

Daily News Egypt

GB Auto to supply Gazpromneft Lubricants products in Egypt

Reuters – Egyptian car assembler GB Auto has agreed an exclusive local distributorship deal with Gazprom Neft, the oil-producing arm of Russia’s Gazprom, to expand into Egypt’s lubricants market, it said on Wednesday. “Egypt today has a huge economic potential. Its lubricant market is estimated at 400,000-450,000 tonnes and shows 4 to 5% annual growth,” …

Daily News Egypt

Dubai’s Arabtec wins $705m Abu Dhabi contract

Reuters – Major Dubai-based builder Arabtec Holding said on Tuesday that one of its units had been awarded a AED 2.59bn ($705m) construction contract on Abu Dhabi’s Al Reem Island. The project will house a five-star hotel and a residential tower, and will be built within three years, it said in a bourse statement, adding …

Daily News Egypt

International firms receive 70% of insurance installments paid in Egypt

Head of the Egyptian Insurance Federation Abd El-Raouf Kotb said, “Establishing new Egyptian re-insurance companies is an issue of national security.” He revealed that foreign re-insurance companies receive 70% of the insurance installments paid in Egypt. He added that most of the insurance certificates concluded between insurance companies and clients – whether insuring factories, banks, …

Daily News Egypt