Sawiris talking to Vimpelcom about merger: paper
CAIRO: Naguib Sawiris, chairman of Orascom Telecom, said his holding company Weather Investments was talking to telecoms group Vimpelcom about a merger and was open to talks with others, a…
Egypt: Refining retail
CAIRO: Egypt’s retail and wholesale sector is flourishing: total sales grew from $35 billion in 2003 to $76.4 billion in 2009, and that trajectory is expected to continue in the…
Desertec seeks new shareholders, in talks
BERLIN: Desertec, the world's most ambitious solar power project, is courting new shareholders in the Middle East and North Africa in an attempt to broaden its geographical reach, its chief…
El Kahera Housing bucks Egypt losing trend
CAIRO: El Kahera Housing led gains in Egypt's main index on market talk the firm is the target of an acquisition and is eyeing buying new land. Traders said Egyptian…
Egypt’s monthly growth in NIR stable
Monthly growth in Egypt’s Net International Reserve (NIR) position has remained relatively stable in July 2010, inching up by 0.16 percent to $35.27 billion compared with $35.22 billion in June…
Abbas, Barak held secret meeting in Jordan, says Israeli media
JERUSALEM: Palestinian president Mahmoud Abbas and Israeli Defence Minister Ehud Barak have met secretly in Amman ahead of Middle East peace talks that start in Washington this week, Israeli media…
Egypt pound hits new 3-1/2 yr low to dlr
The Egyptian pound traded as low as 5.7055 to the dollar on Tuesday, its weakest since January 2007. "Foreigners are going out of the stock exchange," said a forex dealer…
Algeria to start valuing Orascom unit soon: report
A commission chosen by Algeria will start evaluating next month how much Algeria should pay to acquire the local unit of Egyptian operator Orascom Telecom, an Algerian newspaper reported on…
Egypt end-July money supply LE 922.6 bln
Egypt's M2 money supply rose to LE 922.6 billion ($161.7 billion) at the end of July from LE 917.5 billion at the end of June, the central bank said on…
Egypt PPI rises 10.36 pct in year to July
Egypt's producer price index rose 10.36 percent in the 12 months to July, figures on the website of the state statistics agency CAPMAS showed on Friday. The government started the…