AlexBank achieves EGP 2.783bn net profit in 2017
The Bank of Alexandria (AlexBank) announced that it recorded a net profit of EGP 2.783bn in 2017, marking an 83.8% from their 2016 results, while the bank’s net profit before…
Pharos appoints Aladdin El-Afifi as new managing director, co-CEO
Pharos Holding for Financial Investments announced the appointment of Aladdin El-Afifi as their managing director and co-chief executive officer on Tuesday. Commenting on the appointment, Elwy Taymour, group chairperson and…
China says financial risks ‘under control’
China's finance minister has said Beijing is fully confident of its capacity to avoid systemic debt risks. The remark came as international organizations including the IMF kept warning of the…
Electricity Minister to inaugurate Infinity Solar’s station next week
We aim to expand investment in renewable energy sector, says Mansour
Egypt ERA to announce waste-to-energy generation tariff by next week
10 companies seek to invest $500m in waste-to-energy projects
East Timor and Australia sign treaty ending long-running gas dispute
East Timor and Australia have signed a treaty that divides offshore gas revenues between the two countries. The dispute has soured relations since 2002, when East Timor gained independence from…
Champions League: Ronaldo helps Real Madrid brush off Paris Saint. Germain
Cristiano Ronaldo opened the scoring as Real Madrid cast aside a disappointing Paris Saint. Germain side to reach the Champions League quarterfinals. Liverpool will join them in the last eight…
Sharm El-Sheikh, Hurghada to witness 48%, 27% growth respectively in RevPAR: Colliers
Sharm El-Sheikh and Hurghada hotels continued to grow from their low base in the first quarter (Q1) of 2017. The two cities started to regain their position as touristic hotspots,…
Egypt to select banks to arrange issuance of eurobonds in 2 weeks
Minister of Finance Amr El-Garhy announced that Egypt will select the banks that will handle and manage the issuance of euro-denominated bonds within a period of two weeks, according to…
Law amendment sentences explosives possessors to death
Post-30 June 2013 period witnessed rise in use of explosives in militant attacks