FINANCE & ECONOMY

19 Apr 2018

Siemens urges FG to adopt Egypt’s power model for Nigeria

To realize regular electricity supply in Nigeria, the need for the Federal Government to adopt the Egyptian model of power generation, has been emphasized, The Guardian reports. Speaking at a media parley recently, Siemens’ Vice President, Power and Gas, Nigeria, Nasir Giwa, said that to effectively solve the challenge of irregular power supply in Nigeria, there is need for the Federal Government to adopt the Egyptian model of electricity solution. He said: “The Government can adopt it at the regional level if it is skeptical......

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19 Apr 2018

Shared airspace helps Egypt, Russia gain common ground

Relations between Russia and Egypt appear to be back on track, especially now that direct flights between their capitals have been re-established after 2½ years. The two countries have finally overcome their “common trauma,” as the events around a 2015 terror attack over"...

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19 Apr 2018

AMOC selects Dutch consultancy to undertake refining project studies

Alexandria Mineral Oils Company (AMOC) has chosen the Dutch Flour to conduct feasibility and technical studies on diesel refining project. Five international firms submitted offers to win the project of diesel refining. Founded 70 years ago, the Dutch Flour is a global company providing engineering, manufacturing, construction, feasibility studies and project management services to oil firms operating in the Middle East and other areas in the world. AMOC aims to launch diesel refining project to apply the ministry of petroleum’s......

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19 Apr 2018

Orange ready to invest into 5G wireless systems in Egypt: chairman

Orange S.A, a France-based telecommunications Company, is mulling a pick-up in its investments into the 5th generation wireless systems in anticipation of the Egyptian government's offering pertinent licenses, according to chairman Stephen Richard.

While"...

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19 Apr 2018

MARAKEZ signs lease agreement with Spinneys for Mall of Tanta

MARAKEZ for Real Estate Investment, the Egyptian arm of Saudi Arabian conglomerate Fawaz Alhokair Group, the largest mall developer in the Middle East, has signed a 15-year agreement with Spinneys hypermarket to lease approximately 4,100 m2 in Mall of Tanta. Mall of Tanta is the Gharbia"...

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19 Apr 2018

Orientals for Urban Development to deliver Fountain Park New Cairo early 2019

Egypt’s real estate developer firm Orientals for Urban Development (OUD) says it plans to deliver the final phase of the units of its residential and administrative flagship Fountain Park Compound in New Cairo by early 2019.

Established"...

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19 Apr 2018

Egypt ports to remain open 24 hours to cut down on wait times- minister

Egypt will keep ports running for 24 hours a day, up from 16 currently, to cut 'long waiting times' for shipments, Transportation Minister Hesham Arafat said on Wednesday as the country tackles an issue that has cost it millions of dollars.

Grain"...

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19 Apr 2018

Egypt's Pioneers Holding to increase capital by 30%: CEO

Egypt's Pioneers Holding Company for Financial Investments aims to increase its capital by 30 percent or 1.08 billion Egyptian pounds ($61.23 million), CEO Walid Zaki said on Wednesday. The company's capital is currently 3.6 billion Egyptian pounds ($204 million) and is distributed over 708.4 million shares at a nominal value of five pounds per share. The company's shares trade on the Egyptian stock exchange market at about 11 pounds. ($1 = 17.6375 Egyptian pounds) zawya ...

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19 Apr 2018

J.P. Morgan Collaborates with BlackRock to Launch New ESG Suite of Indices: The J.P. Morgan ESG Index (JESG)

(AETOS Wire) -- J.P. Morgan today announces a new suite of global fixed income indices, the J.P. Morgan ESG (“JESG”), which integrates environmental, social, and governance (ESG) factors in a composite benchmark. The idea for the index"...

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19 Apr 2018

Oath Hires Former Alibaba Group Executive as President & COO

(AETOS Wire)-- Today, Oath, a Verizon (NYSE, Nasdaq: VZ) subsidiary announces that K. Guru Gowrappan will join the company as President and COO. Guru previously served as Global Managing Director at Alibaba Group. He will play a pivotal role in leading"...

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