Electrolux set to buy Egyptian appliance maker
STOCKHOLM/CAIRO: Sweden's Electrolux has agreed in principle to buy Egypt's Olympic Group, the biggest appliance maker in the Middle East and North Africa, in a push to capture growth in…
Algeria seeks advisers on nationalizing Orascom unit
ALGIERS: Algeria said on Monday it was seeking investment banks and consultancies to advise on a nationalisation of Djezzy, the local unit of Egyptian group Orascom Telecom and its biggest…
SODIC says contracts with government 100 pct codified
Ashraf Farid, head of operations at Six of October Development and Investment (SODIC), said that the company’s lands, which were allocated by direct order from the government, are 100 percent…
Heliopolis Housing auctions 120 land plots
Heliopolis Housing is scheduled to auction 109 land areas next Sunday located in fifth and sixth districts in Heliopolis alongside 11 land plots in Obour city, Al-Mal reported. “The firm…
Egypt Alcotexa sells 46,406 T cotton in past week
Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 46,406 tons of cotton in the week that ended on Oct. 9, an Alcotexa official told Reuters on Monday. The sales…
OT says no official notification from Algeria on Djezzy
On Sunday, Orascom Telecom said it has not received any official notification from Algeria that it it's local unit Djezzy should pay Algeria's central bank $193 million, in a note…
Egypt year-on-year core inflation to Sept 10.97 pct
Egypt's core annual inflation surged to 10.97 percent in the year to September from 8.2 percent in August, the central bank said on its website on Sunday. Four analysts polled…
Youth Views: Young Arab American ambassador finds common ground
GROTON, Massachusetts: I am a 16-year-old Arab American. One of my parents is from Lebanon and the other from Palestine. Both live in the Middle East while I attend boarding…
Qaddafi warns against ‘contagion’ of Sudanese partition
SIRTE: Libyan leader Moammar Qaddafi warned on Sunday ahead of a vote on possible independence for south Sudan that a partition of the country would be a “contagious disease” that…
Qatar’s Mazaya to list and sign $1.5 bln deals
DOHA: Real estate development firm Mazaya Qatar plans to finally list on the Qatar bourse next week and would sign two deals worth $1.5 billion on Tuesday to underpin long-term…