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08 Aug 2017

GA Telesis Announces Launch of $500 Million GAIN 2 Fund

GA Telesis, LLC (“GA Telesis”) and Wafra Capital Partners Inc. (“WCP Inc.”) jointly announced today that GA Telesis has raised a new $500 million investment vehicle from institutional and private clients advised by WCP Inc. to establish a second aviation investment vehicle focused on aircraft and engine investment opportunities. This capital raise constitutes the second round of funding from WCP Inc. The vehicle will be named GA Telesis Aviation Investments 2 LLC (“GAIN 2”) and will be managed by GA Telesis Capital Management, LLC, a wholly owned subsidiary of GA Telesis. Together with this capital raise,......

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08 Aug 2017

Yamaha Motor Achieves Record First-half Earnings

Yamaha Motor Co., Ltd. (TOKYO:7272)(ISIN:JP3942800008) announced today that in the first half of its fiscal year ending December 31, 2017, consolidated net sales of 828.1 billion yen were up 6.4% from the previous year. The company achieved all-time highs in operating income of 82.2 billion yen (up 25.7%), ordinary income of 83.5 billion yen (up 51.1%), and net income for the period attributable to parent company shareholders of 60.8 billion yen (up 87.5%). In emerging markets, motorcycle sales rose and operating income was significantly higher thanks to sales of higher priced products and cost reductions due to the advancement of platform-based......

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08 Aug 2017

New GSMA Report Highlights Risks of Implementing Wholesale Open Access Networks

The GSMA today announced the findings of a new report, “Wholesale Open Access Networks”, which examines the performance of the wholesale open access network (WOAN) model (also known as single wholesale network or SWN) in five markets around the world: Kenya, Mexico, Russia, Rwanda"...

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08 Aug 2017

IMF names Subir Lall as new mission chief for Egypt

The International Monetary Fund has named Subir Lall as the new mission chief for Egypt, succeeding Chris Jarvis, whose three-year term ended Sunday.

Lall has previously worked as the IMF’s mission chief for"...

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08 Aug 2017

GIG-Egypt wins Kuwaiti AlKharafi’s $32mn Athens Cypria hotel insurance policy

Egypt’s Arab Misr Insurance Group – GIG has won a $32 million hotel insurance policy tender launched by Kuwait's Al Kharafi Group, sources with knowledge said Monday.

The policy is designed to provide"...

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08 Aug 2017

Egypt’s SICO Technology to locally produce smartphone for the first time in November

Sico Technology, an Egyptian-based company, recently announced that it will receive equipment to produce the first Egyptian-made smartphone in November. The company, which partnered with China’s Megane on the project, is set to begin the assembly lines in October, and hopes to launch at an annual production capacity of 1.8 million devices a year, head of SICO technology, Mohamed Salem, said in a statement on Sunday. “The $15 million production facility will operate six assembly lines and is expecting to export roughly 65......

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08 Aug 2017

Rosneft delivered 129,000 tons of liquefied natural gas to Egypt

Egypt has received 129,000 tons of liquefied natural gas (LNG) from Russia’s Rosneft during the 1st half of 2017, according to the company’s announcement on August 4, 2017.

The"...

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08 Aug 2017

Nissan Motors Egypt opens 42nd branch in cooperation with El Sabaa automotive

In cooperation with El Sabaa Automotive, Nissan Motors Egypt opened an after-sale service centre in Al Shorouk City. This cooperation is within the framework of Nissan’s strategy to expand its service centres in order to cover the country while committing to offer the best after-sale"...

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08 Aug 2017

Best-Performing Arab Economy Balks at Float on Egypt Devaluation

In five decades of importing steel wires, Zahar Benmoussa’s company never worried about currency risks -- until Morocco announced plans to float the dirham.

“For the first time in our history, we started"...

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08 Aug 2017

Egypt bans prominent rights information website

For the first time, Egyptian authorities have blocked the Arabic Network for Human Rights Information (ANHRI) website, joining a series of blockades that have been carried out against dozens of websites over the last three months.

The"...

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