FINANCE & ECONOMY

08 Apr 2018

Deutsche Bank board to discuss CEO and make decision on Sunday

Deutsche Bank’s (DBKGn.DE) supervisory board intends to “take a decision” on Sunday after discussing John Cryan’s job at the helm of the bank, the German lender said late on Saturday.

In a brief statement, the bank confirmed earlier reports that Chairman"...

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08 Apr 2018

Egypt exports to Russia up by 35% in 2017, minister

Egypt’s Trade and Industry Minister Tareq Qabil said on Saturday that Egyptian commodity exports to the Russian market made big growth over the past year.

Commodity exports reached about US$504.6 million"...

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08 Apr 2018

Egypt, Sudan interested in implementing power linkage project

The Egyptian and Sudanese leaderships are keen on carrying out the electricity interconnection project as part of the efforts to boost bilateral ties, Sudanese Minister of Water Resources, Irrigation, and Electricity Moataz Mousa said Saturday.

Speaking to MENA, Mousa said"...

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08 Apr 2018

Germany to provide trainers to Egyptian hotel staffer

Red Sea Governor Ahmed Abdullah and Minister of Tourism Rania al Mashat discussed with German Minister of Economic Cooperation and Development Gerd Muller means of fostering cooperation on training Egyptian hotel staffers.

Muller is currently on a holiday visit to Hurghada."...

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08 Apr 2018

Egypt, Morocco keen on boosting trade exchange

Trade exchange between Egypt and Morocco has notably improved over the last period, though it is still below potential, Osama Geneidy board member of the Egyptian-Moroccan Businessmen Association said Saturday.

He said that trade between both countries could be easily boosted"...

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08 Apr 2018

Saudi Arabia Resumes Import of Egyptian Strawberry and Pepper

Saudi Arabia has lifted a ban placed on the import of Egyptian strawberry and pepper, thereby allowing the North African country to once again export the two products to its market.

The ban on the two products"...

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08 Apr 2018

Egypt court suspends ban on Uber and Careem’s services

An Egyptian court has ordered the suspension of a ruling to revoke the licenses of the country’s ride-hailing services, Uber and Careem.
Saturday’s decision by the Cairo Court of Urgent Matters allows the two companies to operate until a higher court rules on an appeal"...

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07 Apr 2018

Oriental Weaver agreed donations to be increased to LE20 m in 2018

The Oriental Weavers' (OREWE) general assembly meeting approved donations to be raised to EGP20mln during 2018. The company said in a statement sent to the Egyptian Stock Exchange that its general assembly that convened on March 28, 2018 has approved donations that were made during 2017 and accepted them to be increased to EGP20mln in 2018. Also, the general assembly agreed to purchase a plot of land in the 10th of Ramadan City as well as two power transformers worth EGP69.3mln. The general Assembly agreed cash dividends estimated......

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07 Apr 2018

Orange Egypt signs syndicated loan with 8 banks

Orange Egypt For Telecommunications Company (OREG) declared in a statement sent to EGX, it signed LE7-billion syndicated loan on April 05, 2018, with Commercial International Bank (COMI),"...

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07 Apr 2018

Vitas looking for co-partner for founding micro-lender in Egypt

Vitas Group, a U.S-based micro-finance institution, is on the look-out for a local co-partner, whether a fund or an investment bank, for the founding of a micro-lender in Egypt.

With capital proposed for the new"...

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