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End of Korean Peninsula tensions could ease Sawiris’ problems
The Egyptian telecommunications firm Orascom Telecom and Media Technology (OTMT) is the main reason behind the rise of mobile phone usage in hermetically sealed North Korea in recent years. OTMT secured a 75% stake in Koryolink, a joint venture with North Korea’s Korea Post and Telecommunications Corporation in 2008. It is estimated that as many …
Sawiris family dominates Forbes’ ‘World’s Richest Arabs 2018’ list
Nassef Sawiris tops the list, while Naguib Sawiris came in the sixth spot
RiseUp 2017 starts in December with Sawiris participating
150 start-up companies are attending the summit
The number of millionaires in Egypt
How many people possess more than $1m in Egypt? According to the Credit Suisse global wealth data report of 2015, Egypt has 23,000 millionaires in comparison to 12,000 in Morocco, 35,000 in Qatar, 60,000 in UAE, 70,000 in Turkey, 85,000 in Israel, 180,000 in India, 350,000 in Spain, 1 million in each of China and …
Sawiris and Cypriot partner to develop touristic real estate project
Sawiris is contributing 80% through Gemini Holding and Makronisos with 20%
Sawiris lifts capital of Promo Media to EGP 500m
Sawiris said that selling ONTV removed the conflict of interest between owning a TV channel and having the advertising rights for other channels. “This open the way for further cooperation with other channels,” he said.
EFSA postpones its decision in Beltone-CI Capital acquisition deal, pending resolutions on CIB case and Sawiris violation
EFSA is only concerned about the violations that require reconciliation or resorting to courts, says Samy
CIB wins court judgment to sell CI Capital
The Cassation Court ruled in Commercial International Bank-Egypt’s (CIB) favour in its a legal dispute with the shareholders of CI Capital, 99.98% of whose shares the bank now owns, according to press statement on Thursday. The statement said that the judgement allows CIB-Egypt to proceed with the completion of a deal to sell CI Capital …
Sawiris, Kanoo, IFC sign agreement to acquire shares of AXA Investment Egypt
The parties expect to sign the final contract before 2016’s close: Al-Shabrawishi
In Cartoon: Sawiris and Tarek Amer fight
Sawiris pumps investment in Shaghalni recruitment website
We plan to increase presence on the local and regional levels, says Shaghalni CEO
Sawiris dominates Egypt’s financial sector in 2015
By December, Orascom presented an acquisition offer to CIB’s CI Capital
Sawiris revives dream of CI Capital competing with EFG Hermes after 10 years
If CI Capital and Beltone merge; indicators anticipate EFG Hermes to dominate with support of its regional arm on the short term, with eyes open towards merger in a few years
Sawiris conglomerate: From small Upper Egypt business to world’s billionaires lists
Members of the family operate in construction, hotels, telecom, and media sectors, with a stake in political scene
Orascom Construction Industries registers EGP 789.6m profit in Q1 2015
Company turns to profit after registering an EGP 207.9m during the same quarter last year
OTMT records net profits of EGP 728m in H1 of 2015
Results mark a 7.7% YoY surge
Sawiris family plans to invest in Ethiopia’s hotel sector: Ethiopian PM’s advisor
Ethiopia encourages Egypt to invest in wheat agriculture to provide grain supply for Middle East and Russia, says Reda
Lower production in Egypt pushes OCI NV’s total production down
Company says gas shortages have resulted in significant decline
Media tycoon Sawiris defends Al Jazeera journalist Fahmy before court
Court postpones retrial of Mohamed Fahmy and Baher Mohamed to 28 April
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Summit’s 3rd day shows rise in renewable energy sector MoUs
Several Memorandum of Understandings (MoUs) were signed between international companies and the Ministry of Electricity regarding solar energy projects. MoUs were signed between Tharwa Investments and Electricity Holding Company to establish a coal-fired power plant with 6,000MW at a total value of $9.6bn. “We met 10 days ago, and now we are signing a MoU,” …
OCI begins trading shares on NASDAQ Dubai
OCI expects to begin trading shares on the Egyptian Exchange (EGX) between 10 and 11 March
Orascom Development Holding offers 10-15% in stock market
The company stated that its management is “optimistic with the company’s performance”, adding that it expects a stronger performance after the completion of the upcoming parliamentary elections.
Infrastructure key component in Egypt’s economic drive: Nassef Sawiris
Nassef Sawiris, business tycoon and CEO of OCI N.V elaborates in an interview with Daily News Egypt on the company’s investment plans in Egypt, and how the company can contribute to overcome the challenges in the country You’ve previously stated that OCI will seek investments in the energy and infrastructure sectors. Is the company …
Following ruling in OCI tax case, Sawiris ‘grateful justice has prevailed’
Ruling marks end of challenging period for OCI, says CEO Nassef Sawiris in exclusive statement to Daily News Egypt
Final ruling for the OCI postponed to 4 November
Government seeking to settle tax dispute worth an estimated EGP 7bn
15 richest men in Egypt worth over $23bn: Egypt Business Directory
Sawiris, Mansour and Sewedy family make a strong showing on list
Mehleb meets Nassef Sawiris to settle tax dispute
Investment Minister Ashraf Salman declined to comment on the reason behind Sawiris visiting the investment ministry or the form of the new settlement
Beltone refuses sale rate offered from Hermes
Curtain draws on Beltone-Sawiris deal to purchase 20% stake in Hermes after alliance purchased only 9% of shares
Sawiris-Beltone deal only succeeds in purchasing 9% of EFG Hermes, falling short of 20% target
54.4m shares purchased represent less than 9% of total Hermes shares
OCI confident in its position in ongoing tax case: Nassef Sawriris exclusively to DNE
We continue to be committed to investing in Egypt, construction tycoon said.