Tuesday 21 April 2015
 
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Egypt

Egypt's Heliopolis Housing profit up 25.5pc

Egypt's Heliopolis Company for Housing and Construction said on Monday its net profit rose by a quarter in the nine months to end-March. The net profit rose to E£153.7 million ($20.2 million) from July to March compared

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Egypt's Edita signs $12m deal with Hostess Brands

Egyptian foodmaker Edita signed two contacts worth $12 million with US-based Hostess Brands to buy the manufacturing rights of 11 new products and expand distribution, it said in a statement on Monday. Hostess, is one of the large

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Egypt to impose 8pc import tariff on steel rebar

Egypt will impose an eight per cent import tariff on rebar - reinforced steel bars - for three years, the trade ministry said, extending temporary tariffs introduced last year to protect the domestic industry. A ministry statement

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Emaar's Egypt unit reports big profit jump

Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties, on Sunday reported a big jump in first-quarter profits, supported by strong revenue growth. The subsidiary of Dubai's largest real estate developer said profits

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Orascom Construction bullish on Egypt, eyes reforms

Orascom Construction is bullish about growth opportunities in Egypt but wants the government to make clear commitments to further economic reforms, Osama Bishai, the company's chief executive said in an interview. The eng

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Adnoc set to start oil product deliveries to Egypt

State-run Abu Dhabi National Oil Company (Adnoc) will start monthly deliveries of $400 million of petroleum products to Egypt from next week until the end of October, a source at the state-owned Egyptian General Petroleum Corporation (EGPC) said

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Egypt signs $1.6bn energy deals with Kuwait group

Egypt has signed preliminary deals with Kuwait's Alghanim International for two energy-related projects worth a total of $1.6 billion, its prime minister said in a statement on Wednesday. One initiative would see four gas-powe

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Egypt eyes $55m spend to develop slums

An Egyptian Housing Ministry unit has backed a proposal to invest EGP425 million ($55 million) in developing slums across the country, a report said. The investment will be part of the plan for fiscal year 2015-2016, Minister of H

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Egypt, Saudi plan major military manoeuvre

Egypt said it and Saudi Arabia had discussed holding a "major military manoeuvre" in Saudi Arabia with other Gulf states, following talks on the progress of the three-week-old Saudi-led campaign of air strikes against the Houthis in Ye

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Egypt's Midor refinery seeks $400m via IPO

Egypt's state-owned Middle East Oil Refinery (Midor) seeks to raise $400 million with an initial public offering (IPO) in the last quarter of 2015, three sources with direct knowledge of the process said on Tuesday. Midor, Egy

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