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Zahraa Maadi pays EGP 72m in advance for land in New Heliopolis
02 - Thu - Jan - 2020
Zahraa Maadi pays EGP 72m in advance for land in New Heliopolis
Zahraa Maadi Investment and Development has agreed to make an advance payment of EGP 72 million to purchase a land plot from Heliopolis Company for Housing and Development.The down payment represents 15% of the value of the land, Heliopolis Housing said in a statement to the Egyptian…
Egypt’s cabinet announces Coptic Christmas holiday for public sector
02 - Thu - Jan - 2020
Egypt’s cabinet announces Coptic Christmas holiday for public sector
 The Egyptian prime minister Mostafa Madbouly announced that Tuesday, 7 January 2020, is an official holiday on the occasion of the Coptic Christmas.Coptic Christmas day will be a paid day off for all employees working at ministries, state bodies, and public-sector companies, according to a…
Egypt to issue 1st green bonds in early 2020
02 - Thu - Jan - 2020
Egypt to issue 1st green bonds in early 2020
The Egyptian Financial Regulatory Authority (FRA) is set to finalise all procedures required for the issuance of green bonds.A local company is expected to issue Egypt’s first green bond in early 2020, the FRA’s chairman Mohamed Omran said in a statement on Thursday.The FRA has…
Ezz Steel’s losses balloon to EGP 4.3bn in 9M
02 - Thu - Jan - 2020
Ezz Steel’s losses balloon to EGP 4.3bn in 9M
Ezz Steel reported a 1,225% year-on-year surge in its net losses during the first nine months of 2019, the company’s consolidated financial statements showed.Net losses widened to EGP 4.32 billion during the January-September period, compared to EGP 326.05 million in the year-ago period, including minority shareholders’…
CBE issues EGP 20.5bn T-bills on Thursday
02 - Thu - Jan - 2020
CBE issues EGP 20.5bn T-bills on Thursday
The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance to finance the country’s budget deficit.The first tranche of the T-bills stands at EGP 10 billion and will be offered through…