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14 Jul 2014

Abraaj seeks to buy 51% stake in Bisco Misr

Abraaj Investment Management, an affiliate of United Arab Emirates' Abraaj Capital, has made an approach to buy at least a 51 percent stake in Egypt's snack maker Bisco Misr, Bisco Misr said in a statement on Sunday.

"Abraaj Investment Egypt Limited have requested ... to conduct (technical and financial) studies on the company with the intention of acquiring...

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14 Jul 2014

Qalaa Holdings increases stake in Tanmeyah from 51% to 70.3%

Qalaa Holdings (formerly Citadel Capital) has fully subscribed to an EGP 15 million capital increase for Tanmeyah for Micro Enterprise Services, a portfolio company of Qalaa subsidiary Finance Unlimited.

Qalaa alone has capitalised on the opportunity to extend financing to Tanmeyah in 2011 in a time of crisis and is finalising the acquisition of just...

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14 Jul 2014

Egypt to offer investment opportunities in Italy


Egypt will present investment opportunities to Italian investors in the next Egyptian-Italian Business Council meeting, which is slated to take place early next October in Italy, and will also be attended"...

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14 Jul 2014

National Bank of Egypt eyes dollar-denominated bond sale in 2014

The National Bank of Egypt ( NBE ) plans to issue a dollar-denominated bond this year to tap international markets for up to USD 1 billion, the chairman told Zawya.

"We will decide on a suitable time to offer"......

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14 Jul 2014

World Bank approves $300 million interest free loan to Egypt

Loan gets green light to finance micro and small enterprises in Egypt, especially in Upper Egypt.

The World Bank has approved a $300 million interest free loan to Egypt to fund micro and small enterprises (MSEs), Mounir Fakhry Abdel-Nour, Egypt's minister of industry, commerce and"...

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14 Jul 2014

Committee to curb international arbitration against Egypt: PM

The government is forming a new committee to deal with all investment disputes pending before international arbitration or before the Egyptian Disputes Settlement Committee, according to a cabinet press release issued on Thursday.


"...

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14 Jul 2014

Settlement for Bianco factory reached after company pays fine, fees for licence amendment

The Industrial Development Authority (IDA) has begun settlement proceedings for a factory owned by Bianco Group of Integrated Industries, after the cabinet decided to approve “the issuance of new licences for the company, allowing it to increase its productive capacity for projects"...

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14 Jul 2014

1,300 MW addition to electricity grid in August may not end power outages: Energy expert

A total capacity of 1,300 MW from Ain Sokhna power station will be added to the national electricity grid in August and October, Minister of Electricity Mohamed Shaker said in a Sunday statement.


The"...

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14 Jul 2014

Luxor considers establishing EGP 22m plant to generate solar electricity: Governor

The governorate of Luxor is considering the establishment of a solar energy power plant with 2 MW capacity through EGP 22m in investments, with the goal of “beginning the shift” to clean energy throughout the 2014/2015 fiscal year, according to Governor Tarek SaadEddin.

...

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14 Jul 2014

The UAE can offer Egypt guidance on tricky issue of subsidy reform

At times of crisis, the impossible becomes inevitable. Egypt’s unaffordably low energy prices had long been considered politically untouchable, even as they drained the treasury and led to rampant consumption, dried up exports and caused an electricity crisis. But now the new government"...

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