PHD launches new projects at Next Move
CAIRO: Egyptian real estate developer Palm Hills Developments (PHD) launched the Palm Hills Katameya Extension, a new residential real estate project in east Cairo and a new phase in Palm…
Orascom Development focuses on diversifying portfolio
CAIRO: Established in 1989, Orascom Development Holding has grown to formidable proportions. Part of Orascom’s strategy throughout these 20 years has been maintaining a diverse portfolio. “We are diversified. We…
Orascom Tel leads Egypt lower
Egypt's main index ended 0.7 percent lower as uncertainly continued over Orascom Telecom's (OT) potential deal with South Africa's MTN. OT's shares closed down 5.6 percent after Algeria announced it…
Alex Cement plans $442 mln rights issue
Egypt's Alexandria Cement received the go-ahead for a LE 2.45 billion ($442.1 million) rights issue scheduled to begin May 19, the stock exchange said on Wednesday. The transaction will pave…
Dubai World ups offer to lenders, says source
DUBAI: Dubai World, which is in talks to restructure $26 billion in debt, has made a revised offer to lenders but the sweetened deal is unlikely to satisfy banks, analysts…
Juhayna studying IPO go-ahead after fire
Egyptian dairy and juice maker Juhayna Food Industries said on Wednesday it was still deciding whether to go ahead with its initial public offering (IPO) after a fire in one…
Egyptian economic reform has not borne fruit for majority, says British report
CAIRO: Economic reform during the reign of President Hosni Mubarak has not reached the majority of Egyptians and in fact has left them in a greater state of disenfranchisement, according…
Planting New Seeds in Saudi Arabia
JEDDAH: Saudi Arabia's agriculture sector is in a period of great transition. The government has identified five key segments to focus on as water conservation and use policies take a…
Mido linked with Greek, Turkish moves
CAIRO: Mido could end his English adventure and play in Turkey or Greece next season, Sky Sports reported on Wednesday. The Egyptian striker should return to English second-division side Middlesbrough…
Orascom Dvt buys stake in Egyptian Resorts
Swiss-based Orascom Development Holding has bought a 4.5-percent stake in Egyptian Resorts Co. under a plan to jointly develop resort property on the Red Sea, Orascom said on Thursday. Orascom…