Entrepreneur Profile: Omar Fathy works his magic in the food industry
Omar Fathy wants to ruin your diet. The CEO of Divine Worx, the company behind the popular Makani sushi chain as well as Burger Joint, Zo and El Sit Hosneya,…
Eastern opens 1st phase of $1 bln complex
CAIRO: Egyptian cigarette monopoly Eastern Company has officially opened the first phase of its new LE 5.5 billion ($1 billion) industrial complex in Egypt's Sixth of October city. Eastern is…
Raya eyes unit sale, will pay dividend
CAIRO: Egypt's Raya Technology and Communication is set to sell its call centers to focus on higher returns outside its traditional operations, its chief executive said on Wednesday. The firm,…
Algeria rejects new Orascom tax claim: govt official
Egypt's Orascom Telecom on Thursday confirmed that Algerian tax authorities had rejected an appeal filed by its Algerian unit Djezzy. The firm, the Arab world's largest mobile operator by subscribers,…
Beltone downplays Algeria investment bank talks
Beltone has downplayed its plans to expand into Algeria, saying it was in preliminary discussions and does not have a year-end deadline. Al-Mal newspaper had quoted director Aly…
Egyptian bank HDB 2009 net profit more than doubles
Housing and Development Bank, which is raising LE 930 million ($169 million) to finish housing projects and expand its retail operations, reported net profit more than doubled in 2009. HDB…
Ezz Steel hikes April prices by 25 pct
Egypt's largest steelmaker Ezz Steel has raised its steel prices 25 percent to recoup soaring raw material costs, it said on Thursday. The firm set its April prices at LE…
Al Borg to buy 51 pct of medical lab
Al Borg Laboratories has agreed to buy a 51 percent stake in Medical Genetics Centre, the country's biggest genetics testing laboratory, it said in a statement on Thursday. Al Borg,…
Swedish pension giant bans investment in Israeli defence company
Sweden's largest pension funds have elected to remove Israeli defence electronics company Elbit Systems from its investment portfolios over its involvement in the construction and operation of the Israeli separation…
Kuwait court jails journalist critical of prime minister
KUWAIT CITY: A court on Thursday sentenced a leading Kuwaiti journalist to six months in jail and a $17,500 fine for allegedly slandering the prime minister, pending an appeal. The…
