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11 Aug 2016

UPDATE 1-Egypt's GB Auto more than doubles Q2 net income to $14 mln

Aug 10 Egyptian auto distributor and assembler GB Auto more than doubled its second-quarter net income to 124.4 million Egyptian pounds ($14 million) from 50.3 million pounds last year, as it grew its market share to a record level.

GB"...

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11 Aug 2016

Egypt approves five oil and gas exploration deals

Egypt's government has approved five oil and gas drilling and exploration agreements with foreign companies, Petroleum Minister Tarek El Molla said on Wednesday.

Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing"...

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11 Aug 2016

BravoSolution Acquires Procure-to-Pay Provider Puridiom

BravoSolution, a leading global strategic procurement solution provider, has acquired Puridiom, a privately-held on-demand procurement and AP solutions company based in Camp Hill,"...

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11 Aug 2016

A.M. Best Affirms Rating of Starr Insurance & Reinsurance Limited Headquartered in London, England

Starr Companies announced today that A.M. Best has affirmed the A rating with a stable outlook for Starr International (Europe) Limited, which, along with Starr Underwriting Agents Limited, is a subsidiary of Starr International Company, Inc.

“The"...

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11 Aug 2016

Copernicus: Earth’s Average Surface Temperature Sets Absolute New Record in July

  • Copernicus Climate Change Service, operated by ECMWF, confirms July average surface air temperature 0.19 OC higher than previous records in 2009 and 2015.
  • Conditions were exceptionally warm over north-western Russia where temperatures have led to melting permafrost.
  • Warmer conditions during both June and July coincide with many wildfires...

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11 Aug 2016

The World’s Fastest Video Ad Delivery Platform - ‘IMD Cloud’- Completes Its International Roll Out

Global UK technology company Group IMD is transforming the speed and convenience of video advertising management and distribution through its IMD Cloud platform.


The IMD Cloud platform has been fully rolled out internationally and is believed to be the fastest TV and video ad distribution service in the world. Clients"......

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11 Aug 2016

Phase I Clinical Trials Underway for First MERS Treatment

SAB Biotherapeutics, Inc. (SAB), a leading biopharmaceutical development company, announced today that Phase I Clinical Trials are underway for its human antibody treatment (SAB-301) for MERS-CoV. The goal of the study–sponsored, funded and conducted by National Institutes of Health (NIH)–is to evaluate the dosage"......

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10 Aug 2016

7 legal offices compete to provide legal consultations for issuing international bonds

A governmental source said that seven Egyptian legal offices applied to act as local legal advisers for the US dollar bonds through the Ministry of Finance.

The source added that the same offices applied for the first"...

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10 Aug 2016

Power plant daily consumption increases by 350m cubic feet of gas: EGAS

Power plants’ daily consumption of the natural gas increased to 3.75bn cubic feet of gas up from 3.4bn cubic feet of gas last week, due to higher temperatures and its effect on the generating units.

A source in the Egyptian Natural Gas Holding Company (EGAS) told Daily News Egypt that"...

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10 Aug 2016

Daikin Industries announces establishment of Daikin Egypt

Daikin Europe has announced its partnership with private equity firm BPE Partners to establish Daikin Air Conditioning Egypt (Daikin Egypt) in Cairo, with a total investment of EGP 47m.

Hazem"...

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