CI Capital expects CIB 1Q10 net profit at LE 445.9 m
CI Capital expects Commercial International Bank’s quarter one 2010 net profit after tax (NPAT) to reach LE 445.9 million, a 15.6 percent increase over the past quarter, according to a…
Egypt opens LE 221 mln polyester plant
Investment Minister Mahmoud Mohieldin opened a LE 221 million polyester plant of the Artificial Silk Co. in Kafr El-Dawwar, an industrial city and municipality on the Nile Delta near Alexandria.…
France Telecom may discuss Orascom asset buy, Tribune says
France Telecom SA Chief Executive Officer Stephane Richard said he is ready to discuss acquiring other assets from Orascom Telecom Holding SAE, although there are no talks about its Algerian…
Egypt oil deals abroad reach $7.4 bln by 2010
Egypt's Minister of Petroleum Sameh Fahmy said the total value of contracts made by oil companies outside the country reached $7.4 billion in 14 countries by 2010. He added that…
Heliopolis Housing 9M net up 33 pct: bourse
Egyptian developer Heliopolis Housing increased its net profit by 33 percent in the nine months to end-March, the stock exchange said on Tuesday. The mostly state-owned firm, one of Egypt's…
Orascom Development approves cash distribution
Orascom Development Holding shareholders agreed on Tuesday to a 0.65 Swiss franc ($0.586) per share cash distribution that will reduce the nominal value of their shares, the company said. The…
Egypt's PA passes PPP law
CAIRO: After two years of preparation, the People’s Assembly (PA) ratified the public-private partnerships (PPP) law on Monday. The law seeks to enhance the role of the private sector in…
Egypt GDP growth could hit 5.3 pct in 2009/10
CAIRO: Egypt said on Wednesday its economy could grow 5.3 percent this fiscal year following last quarter's better-than-expected performance and could expand next year faster than previously forecast. Economic Development…
GB Auto Q1 net jumps on Egypt, Iraq sales
CAIRO: Egypt's GB Auto reported on Tuesday a leap in first-quarter net income, as sales extended a rebound from a slump in late 2008 and company the expanded into Iraq.…
Egypt index ends flat on global woes
CAIRO: Egypt's main index ended almost flat with traders expecting negative investor sentiment to remain as a global slump of world stocks continues. Telecom firms Mobinil and Orascom Telecom (OT)…