FINANCE & ECONOMY

11 Feb 2016

Letter from Elliott to Fellow Shareholders of Bank of East Asia, Limited (HKEx stock code: 23)

(ME NewsWire)-- Elliott1 today announced the release of the attached letter to fellow shareholders of Bank of East Asia, Limited (“BEA”). Elliott, which owns a shareholding of over 7% in BEA, believes that the BEA board should now"...

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11 Feb 2016

Egypt signs 4 contracts for PPP projects worth $25bn

Egyptian Ministry of Housing has signed four contracts of large investment projects in real estate sector with the total cost of 200 billion Egyptian pounds (US$25 billion).


Assistant Minister of Housing Khaled Abbas told Amwal Al Ghad Tuesday that the projects will be implemented using Public-Private Partnership"......

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11 Feb 2016

IPO issues tackled during Capital Markets conference

The capital market needs new products through new initial public offerings (IPOs) but this is not the only means to make the market more attractive, said Alaa Saba, board member at Beltone Capital, kicking off the IPOs session at the Capital Market"...

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11 Feb 2016

Egyptian market needs self-regulatory organisation to standardise sector

During the second session of the Capital Markets & Financing Growth conference entitled Stock Exchange and New Roles to Finance Growth.


The market requires amendments to the role of the capital market, said Mohsen Adel board member of the Egyptian Exchange (EGX).

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11 Feb 2016

Influx of tourists to Sharm El-Sheikh, Hurghada expected to decline: Colliers

Colliers International expects tourism to Sharm El-Sheikh and Hurghada to decline, while tourism to Cairo and Alexandria is projected to increase.


In a report evaluating the performance of the four major cities in the Egyptian tourism sector over the last year, of which Daily News Egypt obtained a copy, Arab tourism"......

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11 Feb 2016

Citing security, Davos organizers postpone Egypt conference

Organizers of the World Economic Forum, which holds an annual meeting in Davos, Switzerland, have postponed a similar conference planned to take place in Egypt this spring over security concerns.


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11 Feb 2016

Wethaq Takaful Insurance-Egypt investment portfolio hit $35mn last December

The investment portfolio of Wethaq Takaful Insurance -Egypt has increased to 273.55 million Egyptian pounds (US$34.9 million) at the end of December 2015, marking 3 percent growth. In comparison, the portfolio recorded 264.4 million pounds at the end of June 2015.


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11 Feb 2016

Russia to deliver 15,000 rail cars to Iran, Kazakhstan, Egypt, Cuba, Azerbaijan

Russian manufacturer Uralvagonzavod will supply Iran with 5,000 freight cars, marking the start of Russian exports to the country after the removal of anti-Tehran sanctions, Russian newspaper Kommersant reported Wednesday.


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11 Feb 2016

Siemens Proposes €10 Billion Renewable Energy Investment In Egypt

The Egyptian Ministry of Electricity recently received a proposal for a massive renewable energy investment in the country from Siemens.


According to recent ......

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11 Feb 2016

Forces Boosted on Israel-Egypt Border Over Islamic State Threat

Israel and Egypt have bolstered military forces on either side of their desert frontier in response to increased attacks by an Islamic State-allied extremist group in Egypt’s Sinai and threats that violence may spill over the border, according to the Israeli army.


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