news

EU investments in Egypt hit $15bn
19 - Thu - Apr - 2018
EU investments in Egypt hit $15bn
Total investments of the European Union (EU) countries in Egypt have exceeded $15 billion through 6,339 firms.These investments are mainly focused in the sectors of industry, services, and tourism, in addition to providing more than 192,000 jobs, head of the General Authority for Investment (GAFI) Mona…
Dubai's IKU to build mobile phones factory in Egypt
19 - Thu - Apr - 2018
Dubai's IKU to build mobile phones factory in Egypt
Dubai-based IKU plans to establish a new factory in Egypt to assemble mobile phones.The Emirati mobile phones manufacturer has allocated an estimated $17 million in investments for the first phase of the project, local newspaper Shorouk reported, citing general manager Sherif Ackef.The factory is expected…
SODIC uses EGP 847m of capital hike proceeds end-March
19 - Thu - Apr - 2018
SODIC uses EGP 847m of capital hike proceeds end-March
 Sixth of October for Development and Investment (SODIC) has used EGP 847 million from capital increase proceeds at the end of March 2018.The company has pumped EGP 400 million in 301-acre project at the end of December, the Egypt-based property developer added in a filing to the…
EBE partners with US S&P to develop systems
19 - Thu - Apr - 2018
EBE partners with US S&P to develop systems
 Export Development Bank of Egypt (EBE) has started a joint programme with Standard & Poor's Financial Services and Bluering company regarding applying the International Financial Reporting Standard 9 (IFRS9).Upon this step, the Egypt-based bank aims to develop the credit rating systems and to manage risks and…
Eastern Co OKs EGP 750m capital hike
19 - Thu - Apr - 2018
Eastern Co OKs EGP 750m capital hike
The board of Eastern Co has approved to raise the company’s capital to EGP 2.25 billion, instead of EGP 1.5 billion through reserves.The top cigarette maker will finance the EGP 750 million increase through EGP 500 million from its legal reserve totalled EGP 693.1 million, in addition to…