news

Egypt’s parliament approves KFAED’s loan, AfDB’s grant
14 - Tue - Jan - 2020
Egypt’s parliament approves KFAED’s loan, AfDB’s grant
The Egyptian parliament approved a presidential decree for a second loan agreement worth KWD 26 million from Kuwait Fund for Arab Economic Development (KFAED), the Middle East News Agency (MENA) reported on Monday.The loan will be used to finance the establishment of the tunnel road…
CBE denies receiving request from Bank Audi to sell operations in Egypt
14 - Tue - Jan - 2020
CBE denies receiving request from Bank Audi to sell operations in Egypt
The Central Bank of Egypt (CBE) denied local new reports about receiving a request from Lebanon’s Bank Audi to sell its operations in Egypt, according to a statement on Monday.Bank Audi has started its operations in the North African nation after acquiring Cairo Far East…
Egypt to connect gov’t premises to fibre-optic network with EGP 6bn
14 - Tue - Jan - 2020
Egypt to connect gov’t premises to fibre-optic network with EGP 6bn
 Egypt has started implementing a project to connect all government buildings with optical fibres, the minister of communications and information technology Amr Talaat said.About 35,000 government premises spread across all governorates will be connected to optical fibres over a period of 36 months at a…
Egypt Free Shops’ profits edge down in H1-19/20
14 - Tue - Jan - 2020
Egypt Free Shops’ profits edge down in H1-19/20
Egypt Free Shops reported a year-on-year marginal decline in its net profits during the first half of fiscal year 2019/2020, the company’s standalone financial statements showed. The company achieved a net profit of EGP 72.64 million in the six-month period ended 31 December, down from EGP 72.9 million…
Pioneers Holding's board approves FV studies of 5 subsidiaries
14 - Tue - Jan - 2020
Pioneers Holding's board approves FV studies of 5 subsidiaries
 The board of directors of Pioneers Holding Company for Financial Investment approved the fair value (FV) studies conducted by the financial advisor Fincorp for five of its subsidiaries listed on the Egyptian Exchange (EGX).Pioneers Holding Company aims to increase its stakes in these five companies to 90%,…