Fate of Alexandria PA elections hangs in the balance
By Heba Fahmy CAIRO: The fate of elections in Alexandria remains undecided after the Administrative Court there canceled on Wednesday evening the general election scheduled for Nov. 28 in 11 constituencies,…
Algeria closes in on choosing Djezzy adviser
ALGIERS/LONDON: Algeria is close to appointing an adviser for the nationalization of Orascom Telecom's local unit Djezzy, a hurdle to owner Naguib Sawiris's $6.6 billion deal with Russia's Vimpelcom. Algeria…
Egypt’s non-oil exports up 21 pct, shows trade report
CAIRO: Egypt’s non-oil exports witnessed an average annual increase of 21 percent from January to October 2010 compared to the previous year, according to a trade ministry report. Non-oil exports…
After 25 years in the business, Wadi Group gears up for expansion
CAIRO: In his usual, dynamic fashion, Wadi Group CEO Tony Freiji outlined his firm’s expansion plans, just as the company hit its 25th anniversary, at a press conference Wednesday. The…
Egypt Sept mobile subscriptions up 10.5 mln on yr
The number of mobile phone subscriptions in Egypt rose by more than 10.5 million, or 20 percent, from a year earlier, a state website said on Tuesday. Subscriptions grew to…
IFC invests in Alexandria Portland Cement
The International Finance Corporation, a member of the World Bank Group, invested €80 million in the equity of Alexandria Portland Cement Company (APCC), a subsidiary of the Greek cement manufacturer…
OCI to build PHD infrastructure, projects
Palm Hills Developments (PHD) has contracted Orascom Construction Industries (OCI) to work on infrastructure and other projects in a deal worth LE 600 million, the Egyptian real estate firm said…
Amer Group IPO oversubscribed: Beltone Financial
Egyptian real estate firm Amer Group's initial public offering (IPO) has been oversubscribed, its financial advisor Beltone Financial said. Offers for 97 million shares had been made by 0928 GMT,…
Egypt scraps plans to sell stake in Bank of Alexandria
Egypt has scrapped plans to sell its 15 percent stake in Bank of Alexandria, a unit of Italy’s Intesa Sanpaolo, the finance minister said. Minister of Finance Youssef Boutros-Ghali was…
Fathallah reveals tempting Gulf offers
CAIRO: Zamalek defense star Mahmoud Fathallah revealed he has been approached by clubs in the Gulf, admitting that the offers are appealing for him. “There has been some unofficial talks…