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03 Apr 2017

Global-IP Announces the Selection of SpaceX to Launch its 150 Gbps GiSAT-1

Global-IP Cayman, the innovative satellite communications company with the mission to bring cost-effective Internet and related value-added services to Sub-Saharan Africa, announced today it has signed a launch services agreement with Space Exploration Technologies Corp. (“SpaceX”)"...

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03 Apr 2017

Ferring Appoints Dominic Moorhead as Executive Vice President and Chief Financial Officer

Ferring Pharmaceuticals announced today that Dominic Moorhead has been appointed as Executive Vice President and Chief Financial Officer, effective 1st July 2017.

Moorhead succeeds Peter Wilden, who joined Ferring"...

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02 Apr 2017

Egypt's foreign debt jumps 40 pct to $67 billion - central bank

Egypt's foreign debt jumped 40.8 percent year-on-year to $67.32 billion in December, Central Bank figures showed.

Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy hit by political upheaval since a 2011 revolt, and to ease a dollar shortage that has crippled imports and drove away foreign investors....

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02 Apr 2017

Coming soon... Egypt's parliament expected to approve long-awaited investment law

Egypt’s parliament is expected to approve a long-awaited new investment law within one month, with the new legislation aimed at making it easier to do business in the Arab world’s most populous nation of over 90 million people, state-run Al-Ahram weekly newspaper reported.“We have gone a long way in discussing the law in parliament, and we hope it will be approved within a month,” the newspaper quoted Mohamed Khodeir, head of the General Authority for Investment and Free Zones (GAFI), as saying during a conference......

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02 Apr 2017

Education investments will not be limited to schools, Planning Minister

Minister of Planning and Administrative Reform, Hala Al-Saeed said that investment in education sector will not only be directed to schools, but also to developing technological skills of the teacher, raising their efficiency and increasing the"...

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02 Apr 2017

Indian-Egyptian economic relations seminar highlights economic cooperation

A business seminar was held on Thursday at the British University in Egypt (BUE) to discuss Indian-Egyptian economic relations and highlight the economic cooperation between the two countries, in the presence of the Indian ambassador to Egypt,"...

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02 Apr 2017

EGBank quadrupled size of deposits and tripled number of employees in two years: Assar

The Egyptian Gulf Bank (EGBank) conjoined more than 100,000 customers, quadrupled the size of its deposits, and tripled the number of its employees in two years, according to the CEO and managing director of the bank, Nidal Assar.

Assar emphasised that the bank aims to become one of the 10"...

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02 Apr 2017

Hilton plans new hotel in Cairo Business Park

Hospitality giant Hilton Worldwide has signed a cooperation agreement with Misr Italia Properties, a diversified real estate developer in Egypt, for a new Hilton Garden Inn at Cairo Business Park, said a report.

The new hotel would offer Cairo Business Park customers and visitors"...

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02 Apr 2017

Raya Holding acquires Lazah for EGP 80m

Raya Holding announced acquiring 100% of the shares of the International Union for Integrated Food Industries (Lazah) through the Egyptian Exchange (EGX).

The company said in a statement that the number of shares amounted to 5 million shares, valued at EGP 66.85m. Raya Holding will also be"...

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02 Apr 2017

Hermes leads quarterly ranking of brokerage firms

EFG Hermes Securities Brokerage, a major brokerage house in the Arab world, led the traded deals of brokerage firms in March, driven by the restructuring of investments of some Arab investors, mainly the Saudi investor Abdel Monem Rashed Al Rashed. Hermes has transferred Al Rashed’s contributions in 13 Egyptian companies worth EGP 6.1bn to one of his own...

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