Egypt’s Orascom Telecom plunges on tax fears
CAIRO/DUBAI: Egypt's Orascom Telecom (OT) suffered its largest decline in five weeks on Tuesday on talk that Algeria will reject its appeal against back-tax claims totaling hundreds of millions of…
Private equity competition rife in the region
CAIRO: “The private equity market is growing too fast, there is only so much ‘sand in the box,’ and there is more competition than before in the market,” Karim Sadek,…
IT experts optimistic on progress of virtualization, cloud technology
CAIRO: The impact of virtualization and cloud servers on data centers is simply making better use of IT equipment by decreasing the amount of hardware used, said Ragy Raouf Egypt’s…
Private equity competition rife in the region
CAIRO: “The private equity market is growing too fast, there is only so much ‘sand in the box,’ and there is more competition than before in the market,” Karim Sadek,…
Egypt Citadel looks for improvement in holdings
Egyptian private equity firm Citadel Capital said on Monday it will focus on improving the management of the companies it controls after it narrowed its losses in the third quarter.…
EFG-Hermes Q3 consolidated net income down 42 pct
Egyptian investment bank EFG-Hermes reported a 42 percent fall in third-quarter net income and said it was working on a plan for $10 million annual savings after its recent acquisition…
SODIC studying $173 mln bond issue: paper
Egyptian real estate firm SODIC is considering issuing LE 1 billion worth of bonds to help fund work on its main projects near Cairo, a newspaper reported on Tuesday. An…
Egypt’s current account deficit widens to $802 mln
Egypt's current account deficit widened to $802.2 million in the July-Sept quarter from a deficit of $493.4 million in the same quarter a year earlier, the central bank said on…
Egyptian league to introduce doping tests
CAIRO: Doping tests for Egyptian Premier League players will take place starting from the second half of the season, the FA said on Tuesday. “Starting from the second half of…
My relationship with Abou-Treika is intact: Al-Badri
CAIRO: Former Ahly coach Hossam Al-Badri reiterated that his relationship with Mohamed Abou-Trika is intact. Right before Al-Badri resigned as Ahly tactician, Egypt playmaker Abou-Trika, a cult figure at the…