Latest in Tag: Investment Highlight
Latest in Tag: Investment
Dubai’s Emaar properties posts 55% rise in Q1 profit
Reuters – Dubai’s Emaar Properties reported a 55% rise in first-quarter net profit on Tuesday, as the region’s economic recovery brought consumers back to its malls and shopping units, and house buyers returned to the market. The builder of the world’s tallest tower, the Burj Khalifa, reported a profit of AED 863m ($234.96m) in the …
Mideast consortium agrees $500m National Petroleum Services buy
Reuters – A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (APICORP) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr said on Tuesday. The transaction, which is expected to close in the second quarter of 2014, is valued “in excess of $500m”, it said …
Egypt looking to revitalise economic relations with US: Industry minister
Government plans to adopt measures to attract foreign and domestic investments, says minister
Egypt’s Pioneers Holding 2013 profit rises 37%
Reuters – Egyptian investment firm Pioneers Holding posted a 37% increase in net profits for last year, it said in a bourse statement on Wednesday. Pioneers made EGP 358m ($51m) in 2013 compared with EGP 260.5m in the previous year, it said. The firm, which specialises in brokerage services, said earlier this year it planned …
Dubai’s Emirates REIT expands IPO due to strong demand
Reuters – Dubai-based real estate investment trust Emirates REIT said it had expanded the size of its initial public offer of shares on NASDAQ Dubai, the emirate’s first IPO since its financial crisis erupted in 2009, because of strong demand. Emirates REIT will raise $175m in the IPO, which was 3.5 times oversubscribed, by selling …
Cash trickles back to emerging markets, faces growth challenge
Reuters – Investors are starting to move back in to emerging stocks and bonds after a long hiatus, data from fund tracker EPFR shows, but the economic slowdown gripping the developing world is likely to constrain market rallies. Emerging stock and bond funds saw their first weekly inflows after more than $50bn fled in the …
Dubai’s Deyaar approves 25% foreign ownership
Reuters – Shareholders of Dubai property developer Deyaar have approved a plan to allocate 25% of its share capital to foreigners, the company said on Saturday. At present, investors in Gulf Cooperation Council countries can own up to 49% of Deyaar’s shares; they currently hold 3.7%, bourse data shows, while those from outside the GCC …
Souq.com raises $150m
The largest e-commerce platform in the MENA region plans to use funds to deepen technological investments
China faces ‘serious obstacles’: IMF chief
China’s gross domestic product (GDP) grew 7.7% in 2013, unchanged from the year before.
Egypt investors believe Sisi presidency will bring stability
Sisi offers the hope of relief from three years of political turmoil that began with the Arab Spring uprising, even though he was the man who toppled Egypt’s first freely-elected president, Islamist Mohamed Morsi.
Egyptian government aims to develop relations with Sudan: Abdel Nour
The Minister of Industry, Foreign Trade and Investment discusses with Sudanese government officials joint cooperation prospects between both nations
South Sudan backs Egypt bid for African Union reinstatement
Prime Minster discusses ways to strengthen relations with South Sudan
Huge housing deal may signal Gulf investment push into Egypt
The construction company said on Sunday that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces, which own a large amount of financial assets and real estate.
Dubai’s Majid Al Futtaim group invests EGP 16.5bn in Egypt
The retail group plans to establish five commercial malls in Egypt over the next five years
Egypt watchdog allows investment funds to manage insurers’ cash
Reuters – Egypt’s financial watchdog will allow insurance and reinsurance companies operating in the country to assign part of their investment portfolios to portfolio management or investment funds in Egypt, its chairman Sherif Samy told Reuters on Tuesday. Insurance firms previously managed their own funds and did not outsource to fund managers. The change aims …
Foreign trade minister promotes Egyptian projects in London
Mounir Fakhry Abdel Nour visits London to strengthen British-Egyptian relations.
Fahmy looks to strengthen Africa economic and trade ties
Minister of Foreign Affairs to present proposals for deeper economic cooperation in Africa
Gulf investor interest highlights Egypt’s retail upside
Dubai-based retail group Majid Al Futtaim (MAF) has plans to invest around $2.3bn in Egypt over the coming years
Emaar Misr signs protocol with Ministers of Defence, Investment and Local Development
Agreement kicks off work on a 4.5m square metre residential and commercial project in Moqattam
Iconic Cairo Tower remains closed
Following issues with the lease of the tower employees stage a protest to object lack of employment
Citadel Capital says completes $530m investments
Reuters – Egyptian private equity firm Citadel Capital said on Sunday it had completed an EGP 3.7bn ($530m) programme of buying additional stakes in its subsidiaries. The purchases are part of Citadel’s transformation into an investment company that will hold majority stakes in subsidiaries in five core industries: energy, transportation, agrifoods, mining and cement, the …
HC Securities and Investment acts as financial adviser in EGP3bn acquisition deals
The company has acted as a financial adviser in six acquisition deals, with a total value of EGP 5bn
$10m increase for EgyptAir fleet by 2025: Aviation minister
The company has sustained great losses during the past three years
Italian PM says Kuwait to invest 500m euros in Italy
Reuters – Kuwait’s sovereign wealth fund will invest 500m euros ($676m) in Italian companies in coordination with Italy’s own strategic investment fund, Prime Minister Enrico Letta said on Tuesday. The deal follows similar agreements with Qatar’s investment fund last year to invest in Italian companies operating in the fashion, food and tourism sectors and a …
Cityscape conference explores opportunities for real estate investment in Egypt
Exhibition will be attended by the Minister of Housing Ibrahim Mahlab along with the industry’s key decision-makers in the sector to discuss FDI
Poland’s PGNiG backs out of Egypt investment
PGNiG has been looking for new sources of natural gas as Poland seeks to diversify away from Russian supplies.
Government moves to tackle real estate sector challenges
Ministry of Housing sponsors Your Estate conference to discuss the latest developments in real estate projects and finances
Middle East investment banking fees up 20% in 2013
Reuters – Investment banking fees in the Middle East grew 20% last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722m in 2013, the highest since 2010, from $603m in 2012 – though they were still only about half …
Government aiming for 4% growth in investment in FY 2014/2015
Minister of Planning announces that the new investment plan will target various Egyptian regions and governorates
Citadel Capital purchases assets and adds investment worth EGP2.6bn
Citadel Capital aiming to transform from a hybrid private equity firm to an investment company, says the company