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06 Apr 2017

Egypt’s Naeem reaches $500 million in assets under management in 2016

Cairo-based investment house, Naeem Holding reached $500 million in assets under management at the end of 2016, chief executive Yousef Al Far announced Wednesday.

Naeem has started earlier a private placement for"...

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06 Apr 2017

Egypt, Kuwait renew two commercial contracts in oil storage, refining, marketing

The Egyptian General Petroleum Corporation, EGPC, and the Kuwait Petroleum Corporation, KPC, have signed on Monday the renewal of two commercial contracts for the supply of petroleum products and crude oil for three years between the two countries. The signing was attended by Tariq Al Mulla,"...

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06 Apr 2017

Dell EMC’s business size in Egypt $100m: Tantawi

The business size off Dell EMC in Egypt reached $100m. The company is establishing seven subsidiaries of Dell Technologies, after the merger with EMC in September. The deal—financed by eight international banks—was valued at $67bn, making it the largest deal in the history of the communications and information technology (CIT) sector.

The"...

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06 Apr 2017

Egypt’s Resilient and Evolving Social Activism

With the decline of party politics in Egypt, social activism is becoming increasingly relevant in the fight against the government’s new authoritarian policies and tactics. While Egypt’s ruling generals have developed a tight grip on power in virtually every sector of society,"...

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06 Apr 2017

Egypt receives 3rd batch of Rafale jets from France

Egypt received three more Rafale fighter jets from France as the third batch of a deal signed in February 2015, said the Egyptian Defense Ministry in a statement on Wednesday, Xinhua reported.

The statement showed"...

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05 Apr 2017

ARDIC to deliver Zizinia El Mostakbal by 2020

ARDIC for Real Estate Development starts carrying out construction works in its Future City development, Zizinia El Mostakbal, with investment reaching EGP 1.2bn, according to Ashraf Dowidar, ARDIC’s managing director.

Dowidar"...

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05 Apr 2017

Fitch: Currency risk still threatens Egyptian banks' solvency

Some Egyptian banks are still at risk of struggling to meet minimum regulatory capital requirements as a consequence of currency weakness after the Egyptian pound was floated last November, given their high exposure to foreign-currency (FC) loans,"...

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05 Apr 2017

Prime Minister meets China’s TEDA delegation

Prime Minister Sherif Ismail received on Sunday 2/4/2017 a delegation of senior officials of the Chinese company TEDA. The meeting was attended by Agriculture Minister Abdel Monem el-Banna and Chairman of the Suez Canal Economic Zone (SCZone) Ahmed Darwish. Darwish said TEDA corporation is one of the largest industrial developers in SCZone and is keen on boosting investments in Egypt. China’s TEDA said it seeks benefiting from Egypt’s potentials in the field of textile. It reviewed its plans to build a giant textile plant......

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05 Apr 2017

Egytrans achieves EGP 215m revenues in FY 2016

The Egyptian Transport and Commercial Services Company (Egytrans) announced in a press conference held on Tuesday in the presence of chairperson Abir Leheta, general manager Khaled Hussein, and head of financial planning and analysis Sherif Helmy, that it has achieved revenues worth EGP 215m, with a growth of nearly 64% in fiscal year (FY) 2016/2017 year on...

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05 Apr 2017

IDA studies establishing Syrian industrial zone in 10th of Ramadan

Ahmed Abdel-Razek, head of the Industrial Development Authority (IDA), met with a number of Syrian businesspeople, headed by Khaldoun Al-Moakee, at the headquarters of the authority. The two sides discussed the steps of the establishment of a new industrial zone with Syrian investments. The factories would be specialised in textile and ready-made clothes, as...

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