Friday 18 April 2014
 
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Orascom

Egypt's Global Telecom posts $749m Q4 loss

Egypt-based international telecoms firm Global Telecom, formerly Orascom Telecom Holding, reported a fourth-quarter net loss of $749 million on Thursday, a 59 percent increase in losses on a year ago. It blamed lower currency exchange r

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Orascom unit secures T Egypt cable network

Telecom Egypt has sold rights for the use of part of its infrastructure to a subsidiary of Egypt's Orascom Telecom Media and Technology Holding (OTMT), bringing the subsidiary closer to launching a submarine cable network. Onc

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Orascom renews Zimbabwe mobile licence

Egypt's Orascom Telecom said on Wednesday its majority-owned Zimbabwe subsidiary had renewed its mobile operating licence for 20 years. But it did not say whether it had agreed to a demand by the Zimbabwe government that it cu

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Sawiris family to invest in Egypt ‘like never before’

Egyptian tycoon Naguib Sawiris, whose family controls the sprawling Orascom corporate empire, says he and his brothers will be "investing in Egypt like never before" after the ousting of a president he accused of bullying opponents to

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Altimo's Orascom Telecom bid fails

Russia's Altimo failed to secure a majority stake in Egypt-based Orascom Telecom by a Monday deadline and said it was ready to take a smaller interest in the company if Egypt's financial market regulator

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Orascom buyout battle scars Egypt stock market

  A regulatory battle over an offer to buy out shareholders in Orascom Construction Industries may inflict damage on the Cairo stock market that lingers long after Egypt's politics stabilise and the economy recovers.

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Orascom Telecom reports $469m Q4 loss

  Cairo-based Orascom Telecom reported a net loss of $468.9 million before minority interests in the fourth quarter, up from a loss of $123.5 million a year earlier.   In a statement on Wednesday th

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MAF awards $400m Egypt mall contract

Majid Al Futtaim Properties, a unit of UAE mall developer MAF Holding, has awarded a $400 million contract to Orascom Construction/ Besix joint venture for the construction of a gaint shopping mall in Cairo which is due to be completed by the fi

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Egypt's OCI to build $1.4bn plant in Iowa

  Egypt's Orascom Construction Industries will build a $1.4 billion fertiliser plant in Iowa and is buying a US construction firm, as it targets growth outside its main Middle East markets, the company said. &nbs

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Orascom swings to Q2 profit

  Egypt-based Orascom Telecom reported second-quarter net profit of $27 million on Tuesday, reversing a loss of $58 million a year earlier when results were weighed down by tax charges from the sale of its Tunisian business.

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