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LNA seizes control of areas in Libya’s southern border

The Libyan National Army (LNA) said that it seized control of Libya’s southern border with Algeria, according to the spokesperson for the army, Ahmed Al-Mismari. He added that the forces entered several southern towns, including Ghat and Awayna during the previous week, with the aim of countering terrorists and criminals.   In a recent development …

Daily News Egypt

Bouteflika vows not to complete 5th term, if re-elected

Algerian President Abdelaziz Bouteflika promised to call for early election within one year if re-elected for a fifth time in April, Algerian state-run TV channel said on Sunday night. Bouteflika, who is currently receiving medical care in Switzerland, has ruled the country since 1999 and is currently bidding for a fifth term despite his deteriorating health. This …

Daily News Egypt

SWF regulations to come into force immediately: planning minister

The issued framework for the planned EGP 200bn sovereign wealth fund (SWF), will come into force immediately, according to a report issued by the Minister of Planning and Administrative Reform, Hala Al-Saeed, on Sunday. According to the regulations published on Saturday in the Official Gazette, the fund, entitled “Misr Fund” would be an independent body …

Daily News Egypt

Will Mohamed Salah move to Juventus next season?

Conflicting news were circulated about a deal between Mohamed Salah, the Liverpool player, and Juventus in English media recently, as sources said the latter club seriously aims to sign the Egyptian player in the coming season. Former Liverpool star Danny Murphy has confirmed that Salah will not leave the Reds at the end of the …

Daily News Egypt

UIPM Modern Pentathlon World Cup

UIPM Modern Pentathlon World Cup kicks off in Egypt

The UIPM Modern Pentathlon World Cup kicked off on Wednesday at the Platinum Club and will last until 3 March. On Tuesday evening, a press conference was held to announce the details of the tournament, in the presence of the Minister of Youth and Sports, Ashraf Sobhy, and the President of the Egyptian Modern Pentathlon …

Daily News Egypt

Only 61% of companies believe their last acquisitions create value: study

A PwC and Mergermarket study of 600 global senior corporate executives has found that only 61%* of buyers believe their last acquisition created value. However, acquirers who prioritise value creation from the onset of the deal outperform their industry benchmark by 14% on average, 24 months after completion. While divestors who prioritise value creation, can …

Daily News Egypt

Edita’s revenues hike by 24.1% in 2018

Edita Food Industries delivered a strong 24.1% increase in 2018’s revenues to EGP 3.8 bn, in comparison with 2017, as volumes continue to grow along with improved profitability, a statement of the company said, adding that the net profit for 2018 was up by 43.3% to reach EGP 303.7m. “Edita’s strong performance for the year …

Daily News Egypt