news

Sinai Cement incurs losses in FY17 on lower sales
28 - Wed - Feb - 2018
Sinai Cement incurs losses in FY17 on lower sales
Sinai Cement has suffered a loss of EGP 351.5 million during fiscal year 2017 against profits worth EGP 14.64 million in the previous fiscal year.The negative turn in FY17 income statements is attributed to lower sales of EGP 1.292 billion compared to EGP 1.297 billion…
Egypt’s transport ministry to add new trains at EGP 19bn
28 - Wed - Feb - 2018
Egypt’s transport ministry to add new trains at EGP 19bn
 Egypt’s Ministry of Transport is planning to add up to 1,300 new train carriages to the Egyptian National Railway network.The total cost the new trains may reach EGP 19 billion ($1.08 billion), transport minister Hesham Arafat revealed, noting that a committee has been assigned to…
Elsewedy’s board proposes EGP 1.74bn dividends for FY17
28 - Wed - Feb - 2018
Elsewedy’s board proposes EGP 1.74bn dividends for FY17
The board members of Elsewedy Electric Co has recommended a cash dividend of EGP 8 per share for fiscal year 2017.Elsewedy proposed paying a total of EGP 1.74 billion to the entitled shareholders, while an amount of EGP 501.3 million will be withheld to fiscal…
Elsewedy FY17 profits surge 64% on higher revenues
28 - Wed - Feb - 2018
Elsewedy FY17 profits surge 64% on higher revenues
The consolidated income statements of Elsewedy Electric Co showed a growth of 64% in profits during fiscal year 2017 compared to the previous year.Earnings soared to EGP 6.4 billion in FY17 from EGP 3.9 billion in FY16, according to a bourse filing on Wednesday.Elsewedy noted…
Egypt’s term deposits hit EGP 10bn Tuesday - CBE
27 - Tue - Feb - 2018
Egypt’s term deposits hit EGP 10bn Tuesday - CBE
Egypt’s total term deposits at fixed rate amounted to EGP 10 billion in Tuesday auction, with a return of 18.25% following key interest rate cut.Offers presented by 22 banks reached EGP 126.9 billion at an allocation rate of 7.88%, according to the Central Bank of Egypt’s…