Egypt raised $170 mln loan from Kuwait for power plant
Egypt raised a $170 million loan from the Kuwait Fund for Arab Economic Development to help it build a 750 MW power plant north of Cairo, Reuters quoted an official…
GB Auto to pay LE 1 div, its first
Shareholders in Egypt’s GB Auto approved a LE 1 ($0.18) per share cash dividend on Wednesday, a Reuters source at the firm’s annual meeting said. The automotive assembler posted a…
Sewedy 09 net dips 23 pct to $115 mln
Sewedy Cables said on Wednesday that 2009 net profit dipped more than 23 percent to LE 633.6 million ($115 million), much lower than analyst expectations. Revenue was LE 9.29 billion,…
Maridive to distribute 20 pct bonus share
Maridive and Oil Services approved a dividend of one bonus share for every five held, a move that will boost its capital 20 percent to finance expansion, officials said on…
Vale ends iron ore year-long agreements
Vale SA, the world’s largest iron ore producer, and BHP Biliton Ltd, the world’s third largest producer, ended a 40-year system of setting annual prices by signing short term contracts…
Lecico to tap Egypt’s brassware market in JV
Egyptian ceramics firm Lecico will build a brassware factory at a cost of LE 16.5 million ($3 million), of which it has already spent about three-quarters, it said in a…
Orascom to buy Dutch farming, building firms
Egyptian group Orascom Construction Industries (OCI) is to buy two Dutch companies for €310 million ($418 million) to expand its fertilizer business, Orascom said on Tuesday. “The acquisition of DSM…
Russian exporters to pay extra to honor grain deals
MOSCOW: Russian analysts said on Monday some exporters are having trouble buying grain to honor urgent contracts, including deals with top buyer Egypt, but Cairo and shippers said there is…
Experts track insurance trends at Euromoney conference
CAIRO: The second annual Egypt Insurance Conference organized by Euromoney echoed with the refrain, “Egypt’s insurance industry has made huge progress, yet much remains to be done.” But spouting figures…
Zaki to miss Stoke clash
CAIRO: Hull City will once again miss Amr Zaki when they face Stoke City on Saturday as the Egyptian has yet to recover from injury. Zaki sustained a knee injury…
