Business
Egypt's Eastern Tobacco 9 months net profit rises 13% y-o-y - (58 days ago)
Egypt's cigarette monopoly Eastern Tobacco posted a 13 percent rise in net profit in the nine months ending in March to LE662.63 million ($95.79 million), the firm said in a statement to the bourse on Tuesday.Nine-month net profit in the same period of the previous year was 588.71 million pounds, the statement said. EGYPT
Egypt's bourse resumes trading in OCI - (58 days ago)
The Egyptian stock exchange resumed trading in Orascom Construction Industries shares on Tuesday after the firm responded to queries over a tax dispute with the authorities, the exchange said in a statement. "The firm assures that it is in an advanced stage of negotiations with the Egyptian Tax Authority and will announce more details within the coming few days," OCI said in a statement
OCI reaches advanced stage in talks with Tax Authority; statement - (58 days ago)
Orascom Construction Industries (OCIC) announced that it has reached an advanced stage with Egyptian Tax Authority over the ongoing dispute about selling OCI assets to French Lafarge. It is worth noting that, Almal newspaper quoted Ahmed Abdel Rahman, Chairman of Anti-Tax Evasion Department in Tax Authority, as saying that Finance Ministry agreed with OCI to install the tax value amounting to LE
Marsa Marsa Alam for Tourism signs franchise deal to sell Badawyia Village units - (58 days ago)
Marsa Marsa Alam for Tourism Development (MMAT) announced that it signed a franchise contract with Flash for Tourism Investment to sell residential units of the second phase of in Badawyia Village owned partially by the
Egypt's Eastern 9M net profit rises 13 pct y-o-y - (58 days ago)
Egypt's cigarette monopoly Eastern Tobacco posted a 13 percent rise in net profit in the nine months ending in March to 662.63 million Egyptian pounds ($95.79 million), the firm said in a statement to the bourse on Tuesday. Nine-month net profit in the same period of the previous year was 588.71 million pounds, the statement
ARAB DAIRY last cash dividends date on Monday - (58 days ago)
The Arab Dairy Products Co. ARAB DAIRY - (ADPC) declared cash dividends of LE 0.5 per share payable on 29/04/2013. Shareholders as of 23/04/2013 are entitled to cash dividends
Egypt bourse halts trading on OCI pending tax dispute clarification - (58 days ago)
The Egyptian stock exchange halted trading in Orascom Construction Industries shares on Tuesday pending clarification on a report regarding the firms tax dispute with the authorities, the bourse said in a statement. Last month, OCI had told the exchange that talks with the tax authority were
Orascom Hotels And Development 2012 loss almost doubles - (58 days ago)
Orascom Hotels And Development (ORHD) reported consolidated financial results posting a net loss of LE 328,341,354 for the period from 01/01/2012 till 31/12/2012. Noting that, it posted net loss of LE 170,163,155 for the period from 01/01/2011 till
Faisal Islamic Banks plans attracting LE 4 bln savings - (58 days ago)
Faisal Islamic Banks – Egypt (FAIT) is planning to increase savings by more than 4 billion this year, representing an increase of 10.8 % than last year, Almal newspaper reported. According to bank’s annual report, its savings increased last year by 16 % to reach LE 37.282 billion with more than one million bans accounts. Considering expansion plans, the report revealed that the bank
Egypt Stocks fall Monday ahead of expected Cabinet reshuffle - (58 days ago)
The stock exchange indexes tumbled at the end of trading on Monday, suffering from a lack of liquidity, declining purchasing power and anxiety around a potential Cabinet reshuffle. The decline was also in response to several banking holidays coming up in the next two weeks, including Sinai Day and Labor Day. The market capital slid to LE356.7 million in total dealings of LE672 million,
Golden Pyramids Plaza 2012 profit jumps to $ 101 m - (59 days ago)
Golden Pyramids Plaza - (GPPL) reported consolidated financial results posting a net profit of $ 101,667,656 for the period from 01/01/2012 till 31/12/2012. Noting that, it posted net profits of $ 84,424,076 for the period from 01/01/2011 till
Kima denies $ 615 m loan, intention to issue Dollar bonds - (59 days ago)
Egyptian Chemical Industries (Kima) (EGCH) denied $ 615 million loan to establish Aswan new fertilizers complex. Moreover, the company denied in a release sent to EGX reports published in Almal newspaper about intention to issue Dollar
Miraco launches six new air conditioning systems by Midea - (59 days ago)
Cairo – In a distinctive event which took place on April 14th at JW Marriot Hotel, and attended by some of the country’s renowned businessmen as well as distributors and media representatives who had repeatedly praised the company and its success in the Egyptian market,Miraco announced the launch of six new air conditioning systems by Midea for Home Appliances and Air Conditioning,
Amer Group seeks partnership with NUCA in some projects - (59 days ago)
Eng. Nabil Abbas, Vice Chairman of New Urban Communities Authority (NUCA), revealed that a number of Egyptian, Arab and foreign investors demanded partnership with the authority in its new projects which will be offered next month, Almasry Alyoum newspaper reported. He added that, Housing Minister Tarek Wafeek ordered to form an independent committee in order to evaluate the projects and select
Misr Hotel to launch Ritz Carlton by end of December 2013 - (59 days ago)
Adel Sherief, Investors Relations Manager of Misr Hotels (MHOT), stated that the company will launch Ritz Carlton Hotel by end of December 2013, Almal newspaper reported. He asserted that the company will allocate LE 365.489 million investments in the next fiscal year for development works in Nile Riz Tahrir, fixing industrial lakes and amending pumpers roof in Hilton Dahab. On the other hand,
Naeem Holding last cash dividends date on Monday - (59 days ago)
Naeem Holding (NAHO) declared cash dividends of $0.065 per share payable on two installments: The first installment with amount of $0.035 payable on 28/04/2013 The Second installment with amount of $0.03 payable on 28/06/2013. Shareholders as of 22/04/2013 are entitled to cash dividends
Orascom Development 5th Annual General Meeting to be held on Monday, 13 May 2013 - (59 days ago)
Altdorf/Cairo - Orascom Development Holding AG (Orascom Development) (ODHN) will hold its 5th Annual General Meeting on Monday, 13 May 2013, at 3:00 p.m. CEST (doors open at 2:00 p.m. CEST) at Theater Uri, Schützengasse 11, 6460 Altdorf, Switzerland. Luciano Gabriel whose term ends at the 2013 Annual General Meeting decided not to stand for re-election. At the upcoming Annual General
UK Stocks-Factors to watch on Monday 22. April - (59 days ago)
Britains FTSE 100 index is seen opening up 49 to 56 points, or 0.9 percent higher on Monday, according to financial bookmakers. For more on the factors affecting European stocks, please click on * Britains top share index edged higher on Friday, closing up 42.92 points, or 0.7 percent at 6,286.59 points, its first gain in six sessions, with some investors looking for bargains among mining and
IMF, Egypt say working to reach loan deal in 'coming weeks' - (59 days ago)
The International Monetary Fund and Egyptian officials said on Sunday they were working to reach a deal on a proposed $4.8 billion loan in "coming weeks," citing progress in weekend talks in Washington. "Work will continue with the objective of reaching agreement on an IMF stand-by arrangement to support the authorities national economic program in the coming weeks," IMF Managing
Report: IMF loan to Egypt expected next month - (59 days ago)
Egypt may secure an International Monetary Fund loan agreement in about a month, state news agency MENA reported, quoting "informed" sources. Negotiations over the US$4.8 billion loan have been ongoing for months. Sources who asked not to be named told MENA that Central Bank of Egypt Governor Hesham Ramez, Planning and International Cooperation Minister Ashraf al-Araby and Finance Minister Morsy
Lagarde: IMF 'will not leave table' on Egypt loan talks - (60 days ago)
The International Monetary Fund will remain engaged in loan negotiations with Egypt but wants the international community to provide financing too, IMF chief Christine Lagarde said Saturday. "It's a task and we will not give up, we will not leave the table," Lagarde said at a news conference during the IMF and World Bank spring meetings in Washington. For several months, the IMF and Egypt have
Credit Agricole Egypt last cash dividends date on Sunday - (60 days ago)
Credit Agricole Egypt (CIEB) declared cash dividends of LE 0.82 per share payable on 24 April 2013. Shareholders as of 21 April 2013 are entitled to cash dividends
Restructuring loan approval seen next May; Kima - (60 days ago)
Eng. Yahya Mashali, CEO of The Holding Company for Chemical Industries, stated that crucial decisions will be taken next May with banks over Egyptian Chemical Industries (Kima) (EGCH) restructuring loan, Almal newspaper reported. He pointed out that, the company is preparing a plan to increase its capital in order to obtain the
Eastern Tobacco studies investment alternatives for its land in Giza - (60 days ago)
Osama Saad, Chief Financial Officer of Eastern Tobacco (EAST), asserted that the company is studying a number of investment alternatives for its factory land in Giza, Almal newspaper reported. He pointed out that, among these alternatives establishing educational complex, commercial mall or hospital. On the other hand, Company’s CEO Nabil Abdel Aziz stated that Eastern Tobacco is
Lecico Egypt last payout date on Sunday - (60 days ago)
Lecico Egypt (LCSW) declared cash dividends of LE 0.50 per share payable on 24 April 2013. Shareholders as of 21 April 2013 are entitled to cash dividends
Delta Sugar last cash dividends date on Sunday - (60 days ago)
Delta Sugar (SUGR) declared cash dividends of LE 1.25 per share payable on 24 April 2013. Shareholders as of 21 April 2013 are entitled to cash dividends
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