Latest in Tag: The daily News Egypt Highlight
Latest in Tag: The daily News Egypt
DNE News Brief: 22 April 2017
$72m total investment acquired by Careem since inauguration
Around 15 females work with Careem as captains in its Egyptian fleet
BP broadens stake in Egypt’s West Nile Delta project
Company acquired 22.75% in the North Alexandria concession as well as 2.75% in West Mediterranean Concession
Annual inflation rises to 11.8% YoY in November
Figure compares to 8.5% registered in the same period the preceding year
EU grants €32m for wastewater expansion project in Egypt
500,000 inhabitants in 79 villages in Kafr El-Sheikh to benefit from the project
EU grants €30m for expanding access to education in Egypt
EU’s contribution to programme will help establish 1,200 community schools in “disadvantaged” Egyptian governorates
Pharos holding closes $20m deal for Meivo International
Cairo based Meivo International sells 51% of its stake to Saudi SPIMACO
Alaa Arafa’s Dolphinus signs letter of intent to import gas from Israel
Dolphinus’ is expected to receive 4 BCM of gas per year over 10-15 years with final agreement
Minister of Industry flies to Abu Dhabi for Egyptian-Russian-Emirates Fund discussions
Qabil to meet with officials from Russia and the UAE to outline works of the fund and agree on amount of capital
IFC provides power to 10.7 million MENA customers in 2014
IFC’s contribution to energy sector aided in raising the region’s capacity with an excess of 10,000 GW
CBE to inject $1bn after new governor officially takes office
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
Talaat Mostafa Group’s net profits up by 8.9% in 9 months
Group sales reached approximately EGP 5.177bn, exceeding group’s objective of EGP 4.68bn
Leasing sector’s portfolio mainly goes to real estate projects: Experts
We’re still at the tip of the ice berg; there are various opportunities in the sector, says Executive Chairman at EFG Hermes Leasing
Arab Bank Group’s net profits to end of September reach $615.1m
These results reflect the bank’s successful execution of its strategy, despite the challenging environment, says group’s chairman
28.8% poverty among children in Egypt
Child poverty represents one of highest percentages among Egypt’s whole population
International cooperation minister to meet with heads of WB, IDB, and EBRD
Sahar Nasr headed to Lima, Peru to attend World Bank and IMF annual meetings
Ministry of International Cooperation, AfDB sign $650,000 grant agreement
Finance is for first phase of initial feasibility studies needed to establish shipping line connecting Mediterranean Sea and Lake Victoria
Contracts for Saudi investments worth EGP 360bn to be signed soon
Saudi Arabia remains strong supporter of Egyptian economy
Newly appointed international cooperation minister to attend WB meetings
Sahar Nasr affirmed that the ministry is working on receiving needed financing for national development projects
Eni’s share value inches up after announcement of Egypt’s natural gas discovery
The value per share reached €15.2 after company’s CEO announced that he expected investments worth 6bn to $10bn for development of field
Bechtel seeks prominent role in Egypt’s infrastructure sector: David Welch
We as a company think that Egypt has been and will be a good place to work, says President of Europe, Africa and Middle East region
IFC commits $783m to MENA infrastructure in FY 2014/2015: Egypt director
There is much space for future PPPs in infrastructure, port expansions, and industrial and logistics zones, says Shousha
Egypt’s OTMT, European REC to provide solar power integrated solutions
The implementation of solar power plants tends to be much faster than other types, such as coal and wind, says Senior Vice President EMEA at REC
Microsoft to ameliorate workflow efficiency in Alexandria
By second half of September, Microsoft will allow receival of citizens’ complaints’ online allowing better dealings with them
Electrical energy generated witnessed a 2.1% increase in 2013/2014
The amount of electrical energy generated in 2013 / 2014 reached 168 billion KWH
International marketing campaign for Egypt’s tourism necessary step: ETF Chairman
International promotion company will be selected Thursday to promote Egypt’s tourism to 26 foreign markets
Oriental Weavers Group referred to general prosecution
The group is charged with carrying out monopolistic practices and may pay a fine of up to EGP 300m
Egyptian marketing company files complaint against Google
Egyptian Competition Authority investigated the matter, found that Google did not violate Protection of Competition Law as was claimed
Samih Sawiris’ OHD turns to profitability in H1 of 2015
OHD recorded net profits worth EGP 154.7m in H1 of 2015, up from losses of EGP 34.35m in H1 of 2014
OTMT records net profits of EGP 728m in H1 of 2015
Results mark a 7.7% YoY surge