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A Fine Bargain
Retail conglomerate Majid Al Futtaim’s $1.3bn investment plan in Egypt was announced when economic growth was still fledgling. But two years from then, the company and its CEO Alain Bejjani’s commitment seems to have paid off as Egypt’s economy surges. For Alain Bejjani, the reason for Majid Al Futtaim’s sizeable presence in Egypt is quite …
Rocket explosion is blow to SpaceX, Facebook and others
After a thunderous explosion rocked SpaceX’s main launch pad in Florida, destroying a rocket and a satellite Facebook was going to use to beam Internet to parts of Africa, companies are counting the cost.
Apple CEO calls EU tax ruling ‘political crap’
Tim Cook has lashed out at the European Commission, saying that an anti-US bias may have played a role in the EU executive’s decision to order Apple to pay Ireland 13 billion euros in back taxes.
Hill+Knowlton Strategies MENA appoints Bashar AlKadhi as CEO
Hill+Knowlton Strategies appointed Bashar AlKadhi as its new CEO in MENA, overseeing the company’s business across the Middle East, North Africa, and Turkey. He will assume the position in September. AlKadhi joins from the role of COO at Hill+Knowlton’s fellow WPP company ASDA’A Burson-Marsteller, a position he had filled since 2010. Prior to that, he held several senior …
Generic drug competition hits Novartis sales
The Swiss pharmaceutical giant Novartis has said its net profit slipped 3 percent in the second quarter. It cited tough competition for its top cancer drug by new generic medications in the United States.
Takata shares jump as CEO may leave
Japanese auto parts supplier Takata has seen its shares rise sharply as its chief executive has hinted at his resignation.
Vodafone-Egypt appoints Stefano Gastaut as CEO
Vodafone Egypt reshuffled its leadership and appointed Stefano Gastaut as the company’s CEO, replacing Ahmed Essam. Gastaut will assume duties starting September. Gastaut joined Vodafone in 2004. His first steps with the international mobile carrier began in Vodafone Italy, where he was promoted several times before becoming the CEO of Vodafone Partner Markets, which includes …
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Malaysia Airlines ‘on course’ to break even by 2018
VW paves the way for big changes ahead
Seeking to move past its Dieselgate scandal and catch up with the rapidly changing auto industry, VW is focused on a brighter, more nimble future. It wants to hand its brands more power and boost their cooperation.
US senator presses Facebook on anti-conservative bias
US Senator John Thune has demanded to know if Facebook purposely buried conservative news stories. Facebook has denied the claims, and CEO Mark Zuckerberg has responded with a promise to investigate.
Royal Dutch Shell’s profit evaporates amid oil price slide
The Anglo-Dutch energy giant saw its after-tax profit reduced to a trickle in the first quarter, suffering from falling oil prices and hit by huge costs arising from its takeover of British rival BG.
Tesla’s big bet
The stakes are high for Tesla and its new mid-priced Model 3. Growing competition in the electric car market and a dwindling amount of cash have left the company fighting for its survival.
Twitter CEO gives away shares to boost staff morale
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VW halts European sales of rigged cars
Alibaba’s Jack Ma to advise Cameron on business
Air France to keep 2016 job cuts despite clashes
Mobinil plans to increase capital next year: CEO
In an interview with Daily News Egypt, Mobinil CEO Yves Gauthier discussed the latest developments regarding the company’s debt restructuring process. Gauthier also tackled the status of and challenges facing the telecom market in Egypt. How does Orange International evaluate the telecom market in Egypt? It’s a big market, the country has around 90 million …
Volkswagen CEO apologizes for cheating on US auto emissions tests
Apple enters refugee crisis with donations
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Mobinil plans to increase capital next year: CEO
TE has monopoly on Egypt’s internet market where they can fix the price they want, says Gauthier
VW CEO Winterkorn likely to stay until end of 2018
Lufthansa pilots threaten more strikes
Ashley Madison chief Biderman steps down
Gates shifts role at Microsoft, new CEO named
The moves come with Microsoft losing ground to rivals like Apple and Google amid a shift away from the traditional personal computer to mobile devices and cloud services.
Telecom Egypt denies sale of Vodafone shares
Telecom Egypt chief executive officer Mohamed El-Nawawy comments on incorrect media reports
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OPIC to focus investments on franchise, renewable energy and SMEs
As part of the US delegation’s mission to Egypt, the Overseas Private Investment Corporation (OPIC), a US government financing institution, signed a $150 million deal with private equity group Abraaj Capital. The new commitment targets the enhancement and development of small and medium-sized enterprises (SMEs). Managed by Aureos Capital, Abraaj’s SMEs investment platform, the Riyada …
Marketing research aids democratisation of consumption
Tamer El-Naggar, CEO of TNS’s North Africa branch, one of the world’s leading marketing research companies talk to the Daily News Egypt
HSBC Egypt is here to ‘stay and grow,’ says CEO
HSBC Egypt is moving forward with expansion plans for next year, opening up more branches and increasing the size of its staff, according to the new CEO.