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Spinalex nods capital reduction, retained losses by EGP 144m
06 - Mon - Jan - 2020
Spinalex nods capital reduction, retained losses by EGP 144m
The board of Alexandria Spinning and Weaving (Spinalex) approved decreasing the company’s capital and retained losses by EGP 144 million.The company’s board also approved paying nearly EGP 20 million as compensation to employees wishing to terminate their contracts, according to the company’s statement to the Egyptian Exchange…
Egypt’s gold reserves rise 21.5% in 2019
06 - Mon - Jan - 2020
Egypt’s gold reserves rise 21.5% in 2019
Egyptian gold reserves increased by 21.5% or $585 million to reach $3.301 billion by the end of December 2019, compared to $2.71 billion at the end of 2018.On a monthly basis, gold’s share in Egypt’s reserves rose by around 5% or $153 million in December…
MENA's Internet of Medical Things expected to reach $9bn by 2022
06 - Mon - Jan - 2020
MENA's Internet of Medical Things expected to reach $9bn by 2022
 Arab Health, the Middle East and North Africa’s (MENA) largest exhibition for healthcare and trade professionals announced its return to the Dubai World Trade Centre (DWTC) and Conrad Dubai Hotel from 27 to 30 January 2020.The event will highlight the vital role of technology on…
CBE to issue EGP 6.5bn T-bonds on Monday
06 - Mon - Jan - 2020
CBE to issue EGP 6.5bn T-bonds on Monday
The Central Bank of Egypt (CBE) is issuing treasury bonds (T-bonds) valued at EGP 6.5 billion today, in coordination with the Ministry of Finance (MoF).The offering will be through two tranches, the first is three-year notes valued at EGP 3.5 billion, while the second tranche…
Qatar Petroleum to provide Kuwait with LNG for 15 yrs
06 - Mon - Jan - 2020
Qatar Petroleum to provide Kuwait with LNG for 15 yrs
 Qatar Petroleum has signed a long-term sale and purchase agreement with Kuwait Petroleum Corporation (KPC) to annually supply Kuwait with up to 3 million tonnes of Liquefied Natural Gas (LNG).Upon the 15-year agreement, Qatar Petroleum will send its deliveries to the LNG receiving terminal at…