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07 Apr 2018

Oriental Weaver agreed donations to be increased to LE20 m in 2018

The Oriental Weavers' (OREWE) general assembly meeting approved donations to be raised to EGP20mln during 2018. The company said in a statement sent to the Egyptian Stock Exchange that its general assembly that convened on March 28, 2018 has approved donations that were made during 2017 and accepted them to be increased to EGP20mln in 2018. Also, the general assembly agreed to purchase a plot of land in the 10th of Ramadan City as well as two power transformers worth EGP69.3mln. The general Assembly agreed cash dividends estimated......

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07 Apr 2018

Orange Egypt signs syndicated loan with 8 banks

Orange Egypt For Telecommunications Company (OREG) declared in a statement sent to EGX, it signed LE7-billion syndicated loan on April 05, 2018, with Commercial International Bank ...

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07 Apr 2018

ALEXBANK, Jordan Post sign partnership to enhance remittances service

ALEXBANK has signed yesterday in Amman a partnership agreement with the Jordan Post to facilitate the transferring of remittances to Egypt.

The agreement was signed in the presence of HE. Majd Shweikeh - the Jordanian"...

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07 Apr 2018

Vitas looking for co-partner for founding micro-lender in Egypt

Vitas Group, a U.S-based micro-finance institution, is on the look-out for a local co-partner, whether a fund or an investment bank, for the founding of a micro-lender in Egypt.

With capital proposed for the new enterprise"...

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07 Apr 2018

Arab Development to distribute LE1.5 m for shareholders

Arab Development & Real Estate Investment (ADRI) declared in a statement sent to EGX, the ordinary general assembly was convened on April 04. The OGM approved the financial results for the fiscal period ending December 2017, as well as the profit distribution attributable to shareholders of LE1,550,591 for the same fiscal period. Moreover, the OGM ratified distributing 20% from the delayed profits of previous years for shareholders, in addition, deferring the employees' stake from distribution to the next year. arabfinance ...

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07 Apr 2018

Memphis Pharmaceutical OGM targets losses of LE15 m in FY2018/19

Memphis Pharmaceutical (MPCI) declared in a statement sent to EGX, the ordinary general assembly was convened on March 31. The OGM approved the estimated budget and investment plan for the fiscal year 2018/2019. Moreover, The BoD had approved the estimated budget for the fiscal year 2018/19, which revealed targeting net losses of LE15.000 million, versus the achieved net losses of LE34.220 million for the fiscal year 2016/2017. arabfinance ...

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07 Apr 2018

Egypt receives around 31 constructed Japanese schools

Around 45 Japanese schools will be furnished at the beginning of September, the director of the School Buildings Authority, Yousry Abdallah, said on Friday.

He added that Egypt has already received 31 Japanese schools and will start furnishing it immediately.

Egypt"...

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07 Apr 2018

Egypt eyes new tourism markets in Asia, Latin America: Min.

Egypt is eyeing new promising markets to promote its tourism, such as Asia and Latin America, said Tourism Minister Rania el-Mashat during a Thursday press meeting.

Explaining her plan to reignite the sector’s heydays, Mashat said that “one of the important roles"...

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07 Apr 2018

Ukraine flights to Egypt resume Friday after 2-year halt

Cairo International Airport received the first flight coming from Kiev, Ukraine, in two years on Friday; carrying on board 168 tourists.

Flights coming from the Ukraine seized after a plane crashed in Sharm el-Sheikh.

Sources from the Ministry of Civil Aviation that"...

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07 Apr 2018

Sinai resorts pin hopes on Russia’s return

Flights from Russia are about to resume for the first time since Oct. 31, 2015, when an Airbus A321, operated by the Russian airline Kogalymavia, crashed after taking off from Sharm El-Sheikh airport. All 224 passengers and crew were killed in what Egyptian authorities said was a Daesh bomb"...

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