FINANCE & ECONOMY

19 May 2016

Philip Morris International Comments on English Court’s Plain Packaging Decision

Philip Morris International (NYSE/Euronext Paris: PM) today comments on an English Court’s decision to uphold the UK’s plain packaging regulations.


In May 2015, PMI and other companies sought a ruling on whether those regulations, which make it illegal to use registered trademarks, were a proportionate"......

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18 May 2016

Lack of financing hinders SMEs in Egypt

The main challenge facing small- and medium-sized enterprises (SME) in Egypt is obtaining required financing, according to banking experts at the first session of the SME Banking Conference for 2016 held on Monday.


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18 May 2016

Sawiris exits ON TV, redirects his investment in media field

Mr. Naguib Sawiris has stated today that his decision to sell 100% of his shares in ON TV channel comes after the management of the channel has been striving for several years to turn around the channel into profitability. The news and current affairs format of ON TV is not profitable on its own in the Egyptian market"...

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18 May 2016

Juhayna targets producing 30% of its own dairy needs by end of 2018

Juhayna Food Industries Company, the largest producer of bottled milk and juice in Egypt, aims to produce 30% of its own needs in its farms by the end of 2018.


Juhayna needs about 800 tonnes of milk daily in order to provide the various dairy products needed by the Egyptian market, where it produces only 50 tonnes"......

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18 May 2016

Shell, BG to receive part of $3.2bn dues in June

Shell and British Gas (BG) have reached an agreement with the Petroleum Ministry to obtain $400m of their financial dues by the end of June, in exchange for renting a driller and resuming work in the 9B phase of the project in the Mediterranean.

A source close to the negotiations"...

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18 May 2016

Herzog: Egypt's call for peace 'a rare opportunity'

Zionist Union chairman and opposition leader Yitzhak Herzog on Tuesday night linked his desire to join Prime Minister Binyamin Netanyahu’s coalition with the statement by Egyptian President Abdel Fattah al-Sisi calling"...

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18 May 2016

Renewed real estate property confidence forecast in Egypt

Despite political and economic headwinds, Egypt’s real estate sector remains strong, according to latest Cityscape report, with last year’s announcement of the Cairo Capital City mega project and the completion of the new Suez Canal expansion.


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18 May 2016

Egypt clinches $25bn pacts to develop gas fields – Minister

The Egyptian government sealed a number of agreements to develop some oil and gas fields including the field Dahr field, Atoll, and North Alexandria, over the past few months, said Tarek El Molla, Minister of Petroleum and Mineral Resources.


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18 May 2016

Oxford researchers help uncover remains of Egypt's lost cities

Oxford researchers have helped to bring the remains of lost Egyptian cities to the surface from the very depths of the Mediterranean Sea.


The treasures are from two ancient Egyptian cities, Thonis-Heracleion and Canopus, and laid on the sea-bed at the mouth of the Rive Nile for more than 1,000 years.

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18 May 2016

Rosatom expects to sign NPP construction contract with Egypt in 2016 — source

The Russian side expects the contract for construction of the Dabaa nuclear power plant in Egypt will be signed in 2016, a source in Rosatom state-owned corporation said on Tuesday.

"I believe coordination will be completed soon. This is the first deal for Egypt with four power units at once. We expect to sign the contract this year," the source said....

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