Egypt Bourse climbs on talk of Sisi presidential bid; Qatar drops as IQ goes ex-div
Reuters – Egyptian shares rose on Tuesday after an unconfirmed media report suggested defence minister Abdel-Fattah Al-Sisi would soon launch his bid for the presidency, while Qatar took a hit as heavyweight Industries Qatar traded read the rest…
Read More →Emirates REIT to raise $135m in first Dubai IPO since 2009
Reuters – A real estate investment trust, Emirates REIT, said on Tuesday that it planned to raise at least AED 500 million dirhams ($135m) in Dubai’s first initial public offer of shares since 2009. The read the rest…
Read More →Petroleum Ministry responds to reduction of natural gas supply to cement factories
Ministry says 77% of natural gas and diesel supply were delivered to cement factories in January and February
Read More →Minister of Supply, Grocers Syndicate wrangle over pay
Municipal bakeries that make subsidised bread for Egypt’s poor have been working 13 months without pay
Read More →Court drops verdict against Juhayna Food Industries
Reuters – A court in Cairo has cancelled a verdict against the chairman of Juhayna Food Industries, one of the country’s largest dairy product and juice makers, the firm said on Tuesday. Juhayna said on read the rest…
Read More →Huge housing deal may signal Gulf investment push into Egypt
The construction company said on Sunday that it had agreed with the Egyptian army to build the homes at 13 locations around the country on land provided free by the armed forces, which own a large amount of financial assets and real estate.
Read More →Saudi retailer Alhokair eyes US, UK buys; plans debut sukuk
Reuters – Fawaz Abdulaziz Alhokair Co., the Saudi retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, is studying three to five acquisition targets in the United States and United read the rest…
Read More →EFG seeks more investment banking revenue from abroad
EFG, which has yet to report full-year 2013 earnings, has seen its annual profits slide sharply since 2011, when Mubarak was deposed.
Read More →Jeddah Chamber of Commerce to invest EGP 2.5bn in Egypt
The Saudi chamber will establish a commodity exchange system in cooperation with the National Investment Bank and Federation of Egyptian Chambers of Commerce
Read More →G-24 developing countries meet in Luxor
Group will prepare for representation in the International Monetary Fund and the World Bank Group 2014 Washington meeting
Read More →No electricity price increases since January 2013: Minister of Electricity
Minister Mohamed Shaker tells citizens to direct complaints over rising energy to companies that provide the service
Read More →Egypt gains marginally after $40bn housing deal; Gulf mixed
Reuters – Egypt’s shares rose slightly on Monday after a deal between the country’s army and a Dubai builder for an affordable housing project worth EGP 280bn ($40.2bn). Cairo’s benchmark index advanced 0.5%, recovering early-session read the rest…
Read More →Energy shortage behind hike in cement prices: Cabinet
Ministry of Environmental Affairs will study the “mixture of energy sources’ used in Europe in cement production.
Read More →Ministry of Electricity signs EGP 105m in contracts for power plant in Suez
Another agreement is expected to be signed on Wednesday valued at approximately EGP 400m
Read More →Egypt’s Juhayna Food Industries says to appeal chairman’s sentence
Reuters – Egypt’s Juhayna Food Industries , one of the country’s largest dairy product and juice makers, said on Monday it would appeal against a court sentence for its chairman. A spokesman for a Cairo read the rest…
Read More →Egypt will provide 25,000 Ugandan families with clean water: Minister of Water Resources and Irrigation
Mohamed Abdul Muttalib signs joint technical cooperation programme between Egypt and Uganda to provide Ugandan citizens with fresh water sources
Read More →Inflation rate eases to 10.2% in February: CAPMAS
Monthly inflation fell to 1% in February
Read More →Kenya tourism suffers amid security scares, global slowdown
The beach is full of Kenyans, but few foreigners.
Read More →Britain, Germany to collaborate on 5G next mobile network: Cameron
The future fifth-generation, or 5G, network will enable a full-length film to be downloaded on the Internet in one second, Cameron said at the official CeBIT inauguration in the northern city of Hanover, attended also by Chancellor Angela Merkel.
Read More →Dubai’s Majid Al Futtaim group invests EGP 16.5bn in Egypt
The retail group plans to establish five commercial malls in Egypt over the next five years
Read More →USAID supports entrepreneurship in Luxor
Over 150 entrepreneurs, 20 mentors and 4 judges were present at the entrepreneurship event
Read More →Tourism minister offers incentives for Europe to lift travel warnings
Hisham Zaazou says he will coordinate with the Minister of Civil Aviation to decrease flight costs and cut exit fees
Read More →Field Marshal Al-Sisi announces one million residential units for youth
Army to cooperate with Emirati construction company Arabtec to supply units over period of five years
Read More →PM approves EGP 850m traffic project in Giza governorate
Mehleb said the traffic route, a joint effort between the ministries of Irrigation, Agriculture, and Environment, will not have any negative effect on neighbouring farmland.
Read More →China provides Egypt with $24.4m grant
The non-refundable grant will support social and economic development
Read More →Tourist arrival rates declined 28.9% in January: CAPMAS
Tourists spent around 8,888,058 nights during January, statistics agency says
Read More →Fitch upgrade boosts Saudi shares
Saudi Arabia’s measure advanced 1.1% to its highest level since July 2008, while trading volume jumped to its highest in almost two years.
Read More →Government will not cut energy subsidies: Prime minister
Ibrahim Mehleb said his government is working on redistributing the energy subsidies to “offer it to those who deserve help”
Read More →MasterCard celebrates Global Money Week
Financial institutions will benefit as well from the initiative, as the banks will be provided the opportunity to build long term relationship with their customers.
Read More →Qatar may face higher costs of hiring foreign workers: IMF
Qatar, which has denied the Guardian’s findings, has seen an increasing influx of foreigners, now estimated at 1.8 million, with its population rising 10% in 2013.
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