Suez Canal revenue reaches $406 mln in July
CAIRO: During the month of July, Egypt’s Suez Canal posted the highest monthly revenue since the global financial crisis in late 2008, totaling $406.2 million. The latest figure is up…
Palm Hills to launch Red Sea project, bonds
CAIRO: Egyptian real estate firm Palm Hills Developments said on Monday it would relaunch a delayed Red Sea development in the fourth quarter of 2010 and start marketing a bond…
Dana Gas posts $8.9 mln Q2 profit as output rises
DUBAI: UAE-based Dana Gas posted a net profit of 33 million dirhams ($8.98 million) in the second quarter, as its Egypt and Kurdistan operations delivered high output, but the results…
Sharm to host AVEX air show in November
CAIRO: Sharm El-Sheikh will host the fourth edition of the AVEX International Airshow 2010 in November, officials said at a conference Sunday. The air show is organized by Naseba, a…
Egypt July core annual inflation rises to 7.08 pct
Egypt's core annual inflation rose to 7.08 percent in the year to July from 6.70 percent in June, the central bank said on its website on Tuesday. Four analysts polled…
Egypt GASC seeks wheat, rules out Black Sea origins
The Egyptian state's main wheat buying agency said on Tuesday it wanted to buy cargoes of 55,000 to 60,000 tons of optional-origin wheat for shipment September 10-25. The agency said…
CIB H1 net profit slightly up to $179.7 mln
Egypt's Commercial International Bank (CIB) said on Tuesday its first-half net profit rose slightly to LE 1.02 billion ($179.7 million), hitting a record profit. The bank, Egypt's biggest private lender…
GB Auto Q2 net profit jumps 92 pct
GB Auto said on Monday its second-quarter net profit surged 92 percent to LE 77.7 million ($13.7 million), exceeding analyst forecast. The firm, Egypt's biggest listed automobile assembler, said net…
Suez Cement’s audited H1 net profit drops
Suez Cement, posted a 1.9 percent fall in its audited first-half net profit to LE 653.8 million ($115.2 million), it said on Tuesday. Suez, Egypt's largest listed cement company and…
Talaat Moustafa’s Q2 net profit up 5.6 pct
Egypt's biggest listed property developer Talaat Moustafa Group's (TMG) net profit rose 5.6 percent in the second quarter of 2010, less than an average forecast from analysts. The firm made…