Tuesday 9 February 2016
 
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Egypt

Egypt to set budget at devalued exchange rate

Egypt is drafting its 2016-2017 budget on the basis of an exchange rate of EGP8.25 to the dollar compared to EGP7.75 this fiscal year, two government sources said on Monday, indicating the central bank is preparing to devalue. Egy

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Egypt's Palm Hills profit soars to $131m

Palm Hills, Egypt's second-largest listed property developer, reported on Sunday a 128 per cent rise in fourth-quarter net profits to E£203.5 million ($25.99 million) from E£89.2 million in the same period last year.

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Italy to boost Egypt energy projects

Italy will upgrade the Middle East Oil Refinery (Midor) in Egypt and support building a complex for petrochemical industries in Ain Sokhna, a report said. It will update a number of combined-cycle power plants, added the Daily

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HC Securities working on $600m Egypt M&A deals

Egyptian investment bank HC Securities is working on acquisition deals in Egypt potentially worth more than 5 billion Egyptian pounds ($639 million), Chairman Hussein Choucri told Reuters. Egypt's economy has been struggling s

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Fairmont Nile City offers Valentine's Day special

Keep the spark alive on Valentine’s Day with a variety of offerings at Fairmont Nile City in Cairo, Egypt, from Thursday to Sunday and the best of live entertainment. Indulge in Asia’s delicacies at Saigon Restaurant & L

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Egypt’s Al-Bustaniya aims to increase exports

Egypt’s Al-Bustaniya Agricultural Development plans to invest EGP25 million ($3.19 million) to support development of the company and increase exports by 20 per cent for the current season, a report said. The exports of vege

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Egyptian dairy firm Domty plans IPO in March

Egyptian dairy firm Arabian Food Industries Company (Domty) is planning an initial public offering (IPO) on the Cairo bourse in March, its chairman and managing director Omar El Damaty said on Wednesday. Food is seen as a fast-gro

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Egypt secures $381m funding for mega housing project

The Egyptian government has sealed four financing contracts worth E£3 billion ($381 million) to help fund the construction of a million housing units across the country, said a report. The housing development, which is one o

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Egypt, Russia to start nuclear plant work in 2018

Egypt may start construction of its first nuclear power plant with Russia's assistance in 2018, Interfax news agency quoted Industry and Trade Minister Denis Manturov as saying on Tuesday. The plant would be built at Dabaa in

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Egypt, Russia to start nuclear plant work in 2018

Egypt may start construction of its first nuclear power plant with Russia's assistance in 2018, Interfax news agency quoted Industry and Trade Minister Denis Manturov as saying on Tuesday. The plant would be built at Dabaa in

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