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29 Jun 2014

Beltone Financial EGM approves 5 to 1 stock split

Beltone Financial Holding (BTFH) received shareholders approval for the 5 to 1 stock split to reduce the stock par value to LE 2 from LE 10 in an extraordinary general meeting (EGM) held on June 26.


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29 Jun 2014

EFSA says HC Securities FV evaluation for EFG-Hermes is non-binding

Egypt's financial regulator is not obligated to take in consideration the evaluation done by HC securities to evaluate the Fair Value (FV) of EFG-Hermes (HRHO) shares since it did not request it, its chairman Sherif Samy told Alborsa Newspaper.


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29 Jun 2014

Egypt power crisis to crimp Ezz Steel's profits this year

Egypt's top steelmaker Ezz Steel (ESRS) will report lower profits this financial year compared with last year due to a power crisis in the country that has forced the company to import more material, an executive said on Thursday.


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29 Jun 2014

EFG Hermes says Beltone-Sawiris bid 30 % below fair share price

EFG Hermes (HRHO) said on Saturday an independent financial adviser had set its fair share price at LE 22.93 ($ 3.21) whereas the price offered by Beltone (BTFH) and New Egypt Investment Fund for a stake in the bank was 30 % lower.

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29 Jun 2014

HSBC sees huge opportunity for credit card growth: Bank’s head of retail and wealth management

With a growing reliance on e-payments worldwide, Egypt still struggles with a low credit card penetration. The Daily News Egypt sat down with Head of Retail Banking and Wealth Management at HSBC Ranjan Sen, to discuss the future of credit card usage in Egypt. Also on the table was the reason"...

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29 Jun 2014

Hazem Hegazy, head of retail banking speaks to Daily News Egypt

The National Bank of Egypt (NBE), the largest government bank in Egypt, is planning to reduce cash transactions in the market and replace them with credit cards in order to meet the needs of citizens of diverse age groups and consumer cultures. In an interview with Daily News Egypt, Hegazy"...

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29 Jun 2014

Credit Cards explained

The level of credit card penetration in Egypt remains low despite its worldwide presence. Public fears of becoming indebted, misinformation on the nature, benefits and characteristics of the credit cards as well as the limited availability of point of sales machines and low acceptability"...

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29 Jun 2014

EgyptAir aims to increase credit card use for bookings: EgyptAir E-Commerce Director

Credit card usage accounts for 8-9% of EgyptAir flight bookings, and the proportion is growing, with a target of 35% over the next four years, according to Ghada Al-Khatib, the company’s director of E-Commerce.


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29 Jun 2014

DMI and MEMS stage “The Victorious” Live Grand Finale Event with Diego Maradona in attendance.

Dubai Media Incorporated (DMI) and MEMS, which serves from within Choueiri Group as the exclusive media representative of all DMI media, recently co-hosted two vibrant gatherings on Saturday, June 7, 2014, marking the final episode of the hit DMI TV show “The Victorious”. The"...

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29 Jun 2014

International Showbiz Expo to Be Held In Abu Dhabi This Coming October

MCI, in association with Xeitgeist Entertainment Group, is gearing up to host the inaugural International Showbiz Expo (ISBE) at Abu Dhabi National Exhibition Centre (ADNEC) from October 20 to 22 2014.This is the first entertainment industry event of its type to be held in the region.

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