news

Copetrole targets EGP 250m profits for 2020
12 - Wed - Feb - 2020
Copetrole targets EGP 250m profits for 2020
Co-operation petroleum Company’s (Copetrole) profits reached EGP 233 million in 2019, chairman Adel Ayyad stated on Tuesday.The company is targeting EGP 250 million in profits in 2020, Ayyad added, according to the Middle East News Agency.The top official noted that his company is owning 1,250 fuel…
Raya Holding receives offer for EGP 133m stake in subsidiary
12 - Wed - Feb - 2020
Raya Holding receives offer for EGP 133m stake in subsidiary
Raya Holding for Financial Investment on Tuesday announced that it received a non-binding acquisition offer from Paradigm Logistics Limited for a stake in a subsidiary.The offer including the acquisition of a 31% stake in Raya’s Ostool for Land Transportation for EGP 133 million, according to a…
Evergrow For Fertilizers to float 30% of its shares on EGX
12 - Wed - Feb - 2020
Evergrow For Fertilizers to float 30% of its shares on EGX
Evergrow For Speciality Fertilizers is planning to offer 30% of its shares on the Egyptian Exchange (EGX) in two years, chairman Mohamed El Kheshen stated on Tuesday.The company is completing required governance procedures in preparation for the offering, El Kheshen added.​​​​​​​Last year, the top official…
Local banks fund most of oil projects in Egypt – CBE’s Amer
12 - Wed - Feb - 2020
Local banks fund most of oil projects in Egypt – CBE’s Amer
Most of the projects in the Egyptian oil sector is funded by local banks, Governor of the Central Bank of Egypt (CBE) Tarek Amer stated on Tuesday.The Egyptian banking sector is always ready to support and fund the growth of the oil sector, Amer added…
Egypt’s ISDF spends EGP 1.2bn on unplanned areas
12 - Wed - Feb - 2020
Egypt’s ISDF spends EGP 1.2bn on unplanned areas
Egypt’s Informal Settlements Development Fund (ISDF) has spent EGP 1.2 billion of the amount allocated to the development of unplanned areas at the end of 2019, the fund’s executive director Khaled Siddiq stated Tuesday.The spent amount was used to fund development projects in seven governorates,…