Pioneers Holding (PIOH) reported standalone financial results posting a net profit of LE 71,949,649 for the period from 01/01/2012 till 21/12/2012.
Noting that, it posted net profits of LE 60,936,302 for the same period of the previous
El Sayyad, Chairman & CEO of Egyptian Financial & Industrial -(EFIC) declared that his company will begin construction works of a new fertilizer plant in Ain Sokhna with a capacity of 700 thousand tons per month , production should be marketed locally and abroad .
He added that investments in the new plant of 300 million, by which 150 million directed to land and
Egypt collected LE132.1 billion in tax revenue from July to 31 March, said Mamdouh Omar, head of the Egyptian Tax Authority.
Omar told state news agency MENA that this year witnessed an increase in both the number of tax returns filed and the amount of money paid, compared with the previous year.
He said this confirmed a higher cultural awareness of the tax community and its responsibility
The Egyptian Exchange said on Sunday a subsidiary of Russian billionaire Mikhail Fridman's Altimo had offered to buy 100 percent of Egypt's Orascom Telecom .
The offer from a Cyprus-based firm owned by Altimo is at a price of US$0.70 per share, the statement said.
"The authority is currently studying the announced offer," the Egyptian Financial Supervisory Authority said in a
Engineering Industries (ICON) -(ENGC) reported financial results posting a net profit of LE 8,538,150for the period from 01/01/2012 till 31/12/2012.
Noting that, it posted net profits of LE 4,117,590 for the same period of the previous
GMC GROUP FOR INDUSTRIAL COMMERCIAL & FINANCIAL INVESTMENTS - reported financial results posting a net profit of LE182,391 for the period from 01/01/2012 till 31/12/2012.Noting that, it posted net profits of LE175,817 for the same period of the previous
Egypt's M2 money supply rose by 15.4 percent in the year to the end of February, the central bank said on Sunday.
Money supply rose to 1,211.3 billion Egyptian pounds ($178.05 billion) from 1,198.1 billion pounds at the end of January and 1,050.1 billion pounds at the end of February, 2012.
Following is a table of the latest Egyptian M2 money supply figures in billions of Egyptian
Egyptian for Tourism Resorts - (EGTS) reported financial results posting a net loss of LE 110,020,462 for the period from 01/01/2012 till 31/12/2012.
Noting that, it posted net loss of LE 7,437,745 for the previous
ArabFinance : Faisal Islamic Bank of Egypt -(FAIT) declared cash dividends of $ 0.40 per share for the U.S. dollar shareholders and LE 2.527 for Egyptian pound shareholders, payable on 21 April 2013 and ,shareholders as of 16 April 2013 are entitled to cash dividends
National Development Bank - (DEVE) BOD approved financial results for the fiscal period ending in 30 December 2012 with net loss of LE 876,947,000, compared to net loss of LE
Cairo - Mr. EL Seify , Chairman of Nile Cotton Ginning announced that the Supreme Administrative Court next meeting will be held on April 15 for the final verdict of invalidity of a privatization of the company.
Mr Chairman expects a ruling in favor of his company and he added that the report of the Commissioners Court and the Supreme Administrative regarding the overturn of the invalidity
Cairo - Heliopolis Housing (HELI) announced sale of 30 housing units in New Heliopolis.
The company added that the units sold will include apartments, villas and sale will be a by a public auction system next April
SODIC, one of Egypts largest real estate developers, hopes to maintain last years sales momentum as demand for upmarket residential units remains strong despite a weak economy, its managing director said.
"We are hoping to have last years sales," Ahmed Badrawi told Reuters. The firm made net sales of 1.6 billion Egyptian pounds ($235.19 million) in 2012 and 560 million pounds in the
The first commercial flight between Egypt and Iran in 34 years took off on Saturday, the latest step towards normalising ties broken following the 1979 Iranian Islamic revolution.
Egypt and Iran agreed to resume direct flights in October 2010 before President Hosni Mubarak was ousted from power, but no flights were made.
"A flight by Air Memphis, owned by Egyptian businessman Rami
El-Sherif, known as the confidante of toppled president Hosni Mubarak, is accused of granting illegal privileges to specific journalists, El-Husseini told Ahram Online.
In December, El-Sherif was released on LE50,000 ($8,200) bail after he was cleared of graft accusations and involvement in the infamous "Battle of the Camel."
The "Battle of the Camel" took place on 2 February, 2011 when
They laugh and gossip in the sunshine, swathed in bright printed cloth, while a scrawny black cat picks its way between piles of rubbish. But when approached by a stranger, they are cautious.
Jeddah has attracted outsiders for centuries, being the main port of arrival for Muslims making the haj pilgrimage to Mecca. It is this history that gives Karantina its name: older residents can
The Suez Canal generated some $381.4 million in February last year, which calculates to a 1.6 percent decline year-on-year.
According to Cairo-based investment bank Beltone Financial, the low number of vessels passing through the canal in February as well as security tensions and the political turmoil witnessed in the cities adjacent to the Suez Canal, such as Port Said, Suez and
China expressed "resolute opposition" and "strong dissatisfaction" with a new U.S. cyber-espionage rule limiting imports of Chinese-made information technology products, state media reported on Saturday.
The remarks underscore growing tension between the world's top two economies after the United States accused China of backing a string of hacking attacks on U.S.
Two Airbus A380s will fly in formation over Sydney's world-famous Harbour Bridge on Sunday to celebrate the launch of a tie-up between Emirates and Qantas, the Australian airline said.
The super-jumbos -- one from each of the carriers -- will coast up the harbour, passing the Sydney Opera House and city centre before flying in tandem over the bridge at 10.30am, Qantas said
Facebook fueled fresh talk Friday about its own mobile phone after the leading social network scheduled a press announcement for next week.
Shortly after the Facebook invitation went out for the April 4 event, the technology news site TechCrunch reported the announcement would be a modified version of the Google Android operating system with "deep native Facebook functionality."
The official said on Friday that it's "too risky" to deposit such a large sum in Egypt but that talks are continuing for a smaller amount. The official didn't elaborate. He spoke on condition of anonymity because he wasn't authorized to talk to the media.In Egypt, the presidency's media office confirmed in a statement to The Associated Press that discussions with Iraq are ongoing.Egypt's planning
An apparent lack of political will on the part of the Egyptian government and international actors, including the British and Swiss governments, is a major obstacle to the recovery of Egyptian stolen assets, said Ahmed Hossam, lawyer at Cairo-based Egyptian Initiative for Personal Rights (EIPR), during a press conference Wednesday.European governments are not willing to cooperate with Egypt on
Revenue from the Suez Canal fell to US$375.3 million in February, down 7.4 percent on the previous month and down 1.6 percent compared to a year earlier, the state information portal said late on Thursday.
Revenue in January was US$405.1 million. In February 2012 it was US$381.4 million.
The waterway is one of the main sources of foreign currency for the economy, which struggling to head off a
The International Monetary Fund said on Thursday it would visit Egypt in the "first days of April" for talks with the government on a possible financing programme worth US$4.8 billion.
More than two years of political upheaval have battered the economy, leaving the country in dire need of IMF funding to relieve a currency and budget crisis.
The deal would also unlock billions of dollars in
Fahmy who served under toppled Egyptian President Hosni Mubarak has spent roughly 23 months in custody despite Egyptian criminal code saying the maximum period of detention waiting for the appeal is ranging between 6 and 18 months.
Egyptian Business tycoon Hussein Salem, currently in Spain, and Fahmy were both sentenced to 15 years in jail in June 2012 for squandering public funds in a
QNB has acquired 430,782,421 NSGB shares, representing 97 percent of the total, at LE38.65 ($5.68) per share, the bourse stated on Thursday.
The bank will be excluded from the EGX30 and other indices, effective from 7 April 2013, because it does not meet the index's criteria, the bourse added.
Earlier this week, Egypt's tax authority said shareholders and investment
“We will not be unable to buy the basic needs – [to say so] is untrue. We are not sitting here with our arms crossed. We are working to make sure that everything is covered,” a government source told Ahram Online.
Ahram Online had learned that President Morsi is facing difficulties in providing essential cash to cover the purchase of essential commodities, including