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28 Mar 2018

Fluor Awarded Front-End Engineering and Design and Project Management Consultancy Contract for Phosphoric Acid Production Facility in Egypt

(AETOS Wire) -- Fluor Corporation (NYSE: FLR) announced today that it was awarded the front-end engineering design (FEED) contract by Egypt’s state energy firm Enppi for the offsites and utilities portion of the main plant complex and support services for the Waphco phosphoric acid production plant at Abu Tartour, in the Egyptian province of New Valley. Fluor will book the undisclosed contract value in the first quarter of 2018. The contract signing ceremony was held earlier this month in Cairo and was presided over by His Excellency Mr. Tarek El Molla, minister of Petroleum and Natural Resources of the Arab Republic of Egypt. “Fluor......

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28 Mar 2018

Thales Launches Its Offer on All Gemalto Shares

(AETOS Wire) -- Regulatory News: With the publication of the Offer Document today and with reference to the joint press release dated 17 December 2017, Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) announced today that Thales is launching its recommended all-cash offer (the 'Offer') to all holders of issued and outstanding shares in the capital of Gemalto for EUR 51.00 per share, cum dividend. Patrice Caine, Thales’s Chairman and Chief Executive Officer, commented: “The publication of the Offer......

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27 Mar 2018

Al-Futtaim targets EGP 4.5bn sales in 2018

Al-Futtaim Group aims to achieve contractual sales of EGP 4.5bn this year, according to managing director of Al-Futtaim Group Real Estate Ashraf Ezz El-Din Abdel Fattah.

Abdel Fattah noted that the company achieved"...

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27 Mar 2018

Siemens receives €4.9bn of dues from EEHC

Siemens received €4.9bn of its dues from the Egyptian Electricity Holding Company (EEHC) for its work on power stations in Beni Suef, Brulus, and the New Administrative Capital.

Sources at the EEHC said that"...

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27 Mar 2018

Vodafone tops list of telecom companies in Egypt in 2017 revenue growth

Vodafone Egypt topped the list of telecommunications companies with the fastest growing revenues in 2017. According to sources in the communications sector, the Vodafone Egypt’s revenue growth reached 19%, while Etisalat came second with 18%, followed by Orange with 6%.

Vodafone"...

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27 Mar 2018

127% increase in Egyptian date exports within 2 months: Food Export Council

The Food Export Council announced, in a press statement on Monday, that Egyptian exports of dates during January and February were estimated at a value of $20.5m, an increase of about 127% compared to the same period of 2017.

The"...

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27 Mar 2018

KIMA OGM approves 2018-2019 budget with surplus of LE120 m

Egyptian Chemical Industries Company (KIMA) (EGCH) declared in a statement sent to EGX, the ordinary general assembly convened on March 25. The OGM approved the estimated budget for the fiscal year 2018/2019, with surplus of LE120.45 million. The Company added that the OGM recommended accelerating implementation rehabilitating the plants to work by natural gas according to timetable to avert highing the project investment costs. The OGM also asked to prepare technical and financial reports for the contractor notification to increase the......

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27 Mar 2018

Graduates find it tough to land suitable jobs in Egypt

While unemployment in Egypt sits at 11.3 percent, the rate is higher for young people, with a 78 percent unemployment rate for women. Also, 28 percent of Egyptians are living under the poverty line.

In 2014, Egypt's"...

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27 Mar 2018

Switzerland returns $33m to Egypt

Switzerland has returned $33 million in frozen assets to Egypt.

Some $700 million were frozen as a precaution following the overthrow of long-term dictator Hosni Mubarak in popular protests in the country in 2011."...

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27 Mar 2018

Sharjah eyes stronger trade ties with Egypt

A delegation from Sharjah concluded an official visit to Egypt that was aimed at developing economic and investment relations between the UAE and the North African country.

The visit was organised by the Sharjah Economic"...

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