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17 Jun 2017

Triton Aviation Finance Announces Filing of Petition for Approval of Trustees’ Proposed Plan of Resolution

(ME NewsWire)-- Triton Aviation Finance, a Delaware statutory trust (“TAF”), announced today that it has filed a petition with the Court of Chancery of the State of Delaware (the “Chancery Court”), Case Number"...

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17 Jun 2017

Mubarak-era industry minister returns to Egypt

Rachid Mohamed Rachid, businessman and former trade minister, arrived in Cairo from a European country on Friday. A source from the Rachid family said that the businessman arrived in Cairo and went immediately to Alexandria, where he had Iftar with his family in the area of ​​King Marriott in Alexandria. Sources at Cairo Airport said the former minister arrived from Italy on a private plane. The Committee for the Recovery of Funds, chaired by Attorney General Nabil Sadek, agreed on reconciliation in 2016 with Rachid, after reaching......

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17 Jun 2017

Egypt's spat with Qatar is a 'matter of principle'

Cairo isn't worried about a potential financial fallout from its political rift with Doha, Egypt's Minister of Finance Amr El-Garhy told CNBC on Friday. 'It's not a matter of a loss of money...it's a matter of principle,' he said on the sidelines of the Asian Infrastructure Investment Bank's second annual meeting in Jeju, South Korea. Egypt, alongside six other Middle Eastern countries including Saudi Arabia, Bahrain and the U.A.E, severed ties with Qatar last week, accusing the oil-rich monarchy of supporting......

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17 Jun 2017

Egypt to sell shares in engineering group ENPPI

Egypt plans to embark on its first sale of shares in a state-owned company in 12 years, aiming to raise up to $150 million from a stock market listing of Engineering for the Petroleum and Process Industries (ENPPI) in the first of a series of public offerings.

State"...

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17 Jun 2017

Sadat Metro station closes for security reasons: Spokesperson

Sadat metro station, overlooking the renowned Egyptian Tahrir square where Egyptians stage protests, was closed starting Friday at dawn for security reasons, Egyptian Company for Metro Management & Operations official spokesperson said in a statement.

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17 Jun 2017

Egypt addresses OIE over spread of rabies

The General Organization for Veterinary Services of the Ministry of Agriculture has officially addressed the World Organization for Animal Health (OIE) on the spread of rabies disease in animals in Egypt.

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17 Jun 2017

Egypt signs international tax evasion deal

Mubasher: Deputy finance minister for fiscal policies, Amr Al-Munir, signed an international multilateral agreement to prevent tax evasion across the globe, according to a statement.

Representing Egypt, he signed"...

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17 Jun 2017

Echo Energy to exit Egypt project through stake sale to partner Nostra Terra

Echo Energy Plc (LON:ECHO), the reboot of Independent Resources (IRG), is selling out of its Egyptian project with Nostra Terra Oil & Gas (LON:NTOG). In a stock market statement, Echo revealed it had signed an agreement to sell its 25% stake in the East Ghazalat licence to its partner. Nostra in return will pay a total of US$500,000, with an initial US$100,000 paid once a regulatory approval comes from the Egyptian General Petroleum Corporation. The other US$400,000 is to be paid in two tranches – one triggered when the concession yields production of 800 barrels of oil per day for 30 consecutive days, and the other when output reaches......

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17 Jun 2017

Egypt’s garments producer Al Arafa Q1 profits rise by 48% - egypt

Egypt’s high-end garments producer Al Arafa for Investments and Consultancies reported Thursday a 47.8 percent increase in its first quarter consolidated net profits to reach $2.6 million.

Earlier, profits stood"...

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17 Jun 2017

Nasr, WB mission discuss arrangements of issuing report on Egypt

Investment and International Cooperation Minister Sahar Nasr discussed with a visiting World Bank (WB) mission Egypt’s priorities in the coming period, as WB is preparing to issue its report on Egyptian government economic efforts in September.

The"...

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