Business
Egyptian developer Palm Hills raises $212 mn in share issue
May 25, 2015
Egyptian developer Palm Hills raises $212 mn in share issue
Palm Hills, Egypt's second-biggest listed property developer, said on Monday it had completed a LE1.62 billion ($213 million) share sale…
Russian investors propose building inverted houses in Hurghada
May 25, 2015
Russian investors propose building inverted houses in Hurghada
Red Sea governor Major General Ahmed Abdullah has met with several Russian investors who are looking to invest in tourism…
Minister: LE3 bn to establish state’s assets management fund
May 25, 2015
Minister: LE3 bn to establish state’s assets management fund
Egypt’s Finance Ministry will allocate LE3 billion in the next fiscal year's budget (2015/16) to establish the state’s assets management fund,…
Biggest container vessel crosses Suez Canal
May 25, 2015
Biggest container vessel crosses Suez Canal
The Panamanian container ship "MSC Oliver" crossed through the Suez canal on Sunday, coming from the Red Sea en route…
EGAS requests LE30 billion for LNG import
May 25, 2015
EGAS requests LE30 billion for LNG import
The Egyptian Natural Gas Holding Company (EGAS) has said it requested LE30 billion from the Finance Ministry for the 2015-2016 fiscal…
Egypt’s Qalaa says seeing strong foreign interest in asset sales
May 24, 2015
Egypt’s Qalaa says seeing strong foreign interest in asset sales
Major Egyptian investment firm Qalaa Holdings is drawing strong interest from Gulf and other foreign investors in a string of…
Dubai’s Arabtec drops on Egypt project speculation
May 24, 2015
Dubai’s Arabtec drops on Egypt project speculation
Shares in Dubai builder Arabtec drop 3.3 percent to 2.33 dirhams.Egyptian newspaper Al Mal has reported, citing anonymous source, that…
Orascom Development loses CHF37.96 mn in 1Q of 2015
May 24, 2015
Orascom Development loses CHF37.96 mn in 1Q of 2015
Orascom Development Holding incurred net losses of CHF37.96 million in the first quarter of 2015, compared with net profit of…
Egypt’s market gains LE4.1 bn on Sunday, EGX30 rises 1.5%
May 24, 2015
Egypt’s market gains LE4.1 bn on Sunday, EGX30 rises 1.5%
Egypt's market closed in the green zone for Sunday's session, as the benchmark EGX30 Index increased 1.49 percent reaching 9,121.92…
Paper: Arabtec million-housing-unit project in Egypt terminated
May 24, 2015
Paper: Arabtec million-housing-unit project in Egypt terminated
An Egyptian Housing Ministry official source revealed that negotiations with the UAE's Arabtec to create one million housing units in…