Tuesday 9 February 2016
 
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Egypt

GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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GM suspends Egypt operations due to currency crisis

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters on Monday. Import-dependent Egypt has been in economic crisis since a 2011 uprising and subsequent political tur

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Egypt’s solar energy investors call services tender

Investors in Egypt’s solar energy sector will float tenders in the next few days to invite bids to provide security, technical, and administrative services for the projects in Benban area, a report said. Mohamed El-Sobky, ch

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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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