Business

Abraaj raises Bisco Misr offer to 80.58 EGP per share

Abraaj raises Bisco Misr offer to 80.58 EGP per share

UAE's Abraaj Investment Management said on Wednesday it would raise its price for Egyptian cake and biscuit maker Bisco Misr…
HSBC to refund Middle East, Africa customers for excessive fees

HSBC to refund Middle East, Africa customers for excessive fees

HSBC will refund customers across five countries in the Middle East and North Africa for charging them excessive foreign currency…
Construction federation says 14,000 companies got out of service due to lack of work

Construction federation says 14,000 companies got out of service due to lack of work

Egyptian Federation for Construction and Building Contractors CEO Hassan abdel Aziz has highlighted importance of the sector to achieve economic…
Kellogg tops Abraaj offer for Egypt’s Bisco Misr

Kellogg tops Abraaj offer for Egypt’s Bisco Misr

Kellogg Co, the world's biggest breakfast cereal maker, has offered 908.5 million Egyptian pounds ($127 million) for Egyptian cake and…
Orascom Development to sell 15 percent of OHD stake

Orascom Development to sell 15 percent of OHD stake

Orascom Development Holding is evaluating the sale of 10–15 percent of its subsidiary, Orascom Hotels and Development (OHD), to reactivate…
IMF estimates Egypt’s budget deficit to reach 11% of GDP in 2014/15

IMF estimates Egypt’s budget deficit to reach 11% of GDP in 2014/15

The International Monetary Fund (IMF) estimates that Egypt's budget deficit will reach about 11 percent of GDP in 2014/15, as…
Egypt central bank seen keeping rates on hold amid nascent recovery

Egypt central bank seen keeping rates on hold amid nascent recovery

 Egypt's central bank is expected to keep interest rates on hold on Thursday as inflationary pressure continues to ease and…
Al-Futtaim to invest $700 mn in Egypt after dispute settled

Al-Futtaim to invest $700 mn in Egypt after dispute settled

Dubai-based conglomerate Al-Futtaim Group said on Tuesday it would invest US$700 million in Egypt over three years and pay the…
Egypt’s stock market gained LE2.8 billion on Tuesday, while EGX30 drop 0.48%

Egypt’s stock market gained LE2.8 billion on Tuesday, while EGX30 drop 0.48%

The Egyptian stock exchange closed on a negative note for the second consecutive session, while EGX market capital gained LE2.8…
EFG-Hermes: Low oil prices to boost disinflation, subsidy reforms in Egypt‏

EFG-Hermes: Low oil prices to boost disinflation, subsidy reforms in Egypt‏

EFG-Hermes expects a new era of depressed oil prices and a stuctural shift in global supply and demand balances, according…
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