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Orascom Telecom denies selling a stake in Mobinil
2008-01-21 14:07:00 Orascom Telecom Holding (OT) (ORTE.CA) sent a release to CASE denying selling its stake in Egyptian Company for Mobile Services (MobiNil) (EMOB.CA). More About: Selling
EIPICO to establish plant in Algeria
2008-01-21 14:06:00 According to Al Alam Al Yom, Chairman of Egyptian International Pharmaceuticals (EIPICO.CA) declared that the company is studying establishing a plant in Algeria to serve the market there with an initial cost of $ 200 million More About: Plant
Oriental Weavers establishes new $90 million factory
2008-01-21 14:05:00 Oriental Weavers (ORWE.CA) sent a release to CASE announcing the establishment of a new factory in 10th of Ramadan City on a land space of 190,000 square meters. The new plant's investments are to hit $ 50 million on the first stage and $ 40 million on the second one. Production is expected to start within 12 months. More About: Factory , Million , Oriental
Sidi Kerir Petrochemicals denies rumors
2008-01-21 14:05:00 Sidi Kerir Petrochemicals (SKPC.CA) sent a release to CASE denying the rumor claiming that it is reevaluating its assets for the purpose of offering a stake of the company’s capital for sale. More About: Rumors
Pachin to establish plant in Libya
2008-01-21 14:04:00 ccording to Al Alam Al Yom, Paint & Chemicals Industries Pachin (PACH.CA) is studying establishing paints plant in Libya within the context of its expansionary plans. CEO of the company said that the reason behind establishing this plant in Libya is the increase of the paints’ exports to the Libyan market. More About: Plant
Subscription to AIC Contractors’ rights issue starts today
2008-01-21 14:03:00 Arab Company for Investments and Development, AIC Contractors, calls for a rights issue of 173,118,625 shares at the name value, LE 1 per share, in addition to 2.5 piaster issuance fees per share. The company is increasing its capital from LE 34,623,725 to LE 207,742,350. shareholders as of 20/1/2008 are entitled to subscribe to 5 times the quantity of shares they originally own, subscription More About: Rights , Today , Issue
Amwal signs acquisitions' MoUs
2008-01-21 14:03:00 Arab Cotton Ginning (ACGC.CA) sent a release to CASE; stating that Arab Amwal Cottons, which is 100 % owned by Arab Cotton Ginning, has signed yesterday memorandums of understanding for the acquisition of 100 % of some companies' capitals. The acquired companies are: 1. Sectore Spinning; which owns spinning factories working at the production capacity of 56,000 spindles. 2. NASCO Company for More About: Signs , Acquisitions
Alexandria Mineral Oils Company: still studying stock split
2008-01-21 14:02:00 Alexandria Mineral Oils Company (AMOC.CA) sent a release to CASE clarifying that the stock split action is still being studied adding that the company will seek the CMA's approval once the BOD takes a decision concerning it, and will instantly notify CASE. More About: Stock , Studying , Alexandria
Telecom Egypt gets ready for competition
2008-01-21 14:01:00 According to Al Alam Al Yom, The CEO of Telecom Egypt (ETEL.CA) declared that the company is ready to compete against the new winner of the second fixed phone license; pointing out that new services will be announced for Telecom Egypt’s subscribers. More About: Competition , Ready
Banque Misr arranges loans for Mobinil and Ghabour
2008-01-20 17:19:00 According to Al Alam El yom; Banque Misr is leading a group of banks arranging a syndicated loan of LE 2.2 billion to be granted to Mobinil, Banque Misr is expected to contribute LE 600 million to LE 700 million, while the percentages of other banks' contributions aren’t yet determined. Banque Misr is also expected to lend Ghabor Auto another loan of LE 2.2 billion. More About: Loans
Holding for construction's affiliates record 49 % profits’ increase
2008-01-20 17:17:00 According to Al Ahram, contracts acquired by Companies affiliated to the holding company for construction and building in local market reached LE 5, 7 billion during 2006/2007. The companies also gained contracts during the period from July to December 2007 of LE 1, 2 billion, with a total of LE 6.9 billion. The affiliates recorded a net profit of LE 450 million during the FY 2006/2007 compared More About: Affiliates , Holding , Record , Cord
Research House raises Telecom Egypt's target to LE 27.95
2008-01-20 17:16:00 Prime Research raised Telecom Egypt price target to LE 27.95 from LE 18.6 Egyptian pounds along with a "strong buy" recommendations, the study doesn’t consider the NTRA's decision to provide international gateways to mobile operators as a threat to Telecom Egypt, as its already partnering with Vodafone Egypt and Mobinil will most probably prefer sticking with the operator for cost saving purposes More About: House , Target
Alexandria Containers and Goods rents new warehouse
2008-01-20 17:14:00 Alexandria Containers and Goods (ALCN.CA) sent a release to CASE stating that it has rented a warehouse located about 1 km from the international cost road on kilo 19 Alex - Cairo Agriculture road in Bida zone, it is prepared currently as a custom warehouses & external annex for the company, Case will be in formed as soon as the project is done. More About: Alexandria , Warehouse
168 new companies established with LE 308.3 million capital
2008-01-20 17:13:00 According to Al Gomhoryah, 168 companies were established last week with issued capital LE 308 million and 328 thousand. The companies provide 3739 job opportunities. These projects include 20 agriculture companies, 6 tourism companies, 71 services projects, 37 industrial projects and 34 miscellaneous projects. More About: Companies , Million , Capital
Naeem Holding denies alliance with Mena Touristic
2008-01-20 17:12:00 Naeem Holding (NAHO.CA) sent a release to CASE denying the existence of an alliance with Mena Touristic & Real Estate Investment, or that it will be marketing Mena projects in foreign countries More About: Alliance
NBK Capital plans expansion in Egypt
2008-01-20 17:01:00 National Bank of Kuwait's (NBK) investment banking arm plans to expand in Egypt this year after NBK took over a lender in the North African state, a report said. NBK Capital would open a branch in Cairo this year and pursue private equity investments in Egypt's retail, logistics and packaging sectors, Middle East Economic Digest (MEED) quoted Amjad Ahmad, NBK Capital's chief executive for More About: Plans , Expansion
Heliopolis Housing offers Heliopolis land plot in Kuwait
2008-01-20 13:42:00 According to Al Mal Newspaper; Heliopolis Housing (HELI.CA) will offer Heliopolis land, whose space amounts 840,000 square meters, in a real estate exhibition in Kuwait in the period from March 4th to 15th. Worth mentioning; that the company has failed to sell this land two months ago due to its wide space.. Al Mal says. Deputy Chairman said that the company has formulated a committee to study More About: Offers , Land , Plot
Suez Canal Bank’s board meeting’s decision
2008-01-20 13:42:00 The BOD of Suez Canal Bank (CANA.CA) has approved on its meeting, held January 17th,2008, to sell its stake, representing 29.38%, of Suez Canal Company for Technology Settling, which owns 6th of October University. Chairman was delegated to conclude the necessary procedures. More About: Board , Decision , Anal
Lafarge's GAM approvesd Orascom Cement Deal
2008-01-20 13:42:00 The Combined Shareholders' Meeting of Lafarge, convened in the context of Lafarge's acquisition of Orascom Cement , was held in Paris on January 18 2008, chaired by Bruno Lafont, Chairman and Chief Executive Officer of Lafarge. At the Meeting, Lafarge shareholders voted by a 99% majority in favour of a capital increase of 22.5 million shares reserved for the founding shareholders of Orascom More About: Deal
Golden Pyramids Plaza to undertake 1:10 stock split
2008-01-20 13:41:00 The CMA sent a release to CASE, announcing its approval on the request submitted by Golden Pyramids Plaza (GPPL.CA) to undertake a 1:10 stock split, bringing the company’s share name value from $ 10 to $ 1. More About: Stock , Split
Oriental Weavers establishes new factory
2008-01-20 13:41:00 Oriental Weavers (ORWE.CA) sent a release to CASE announcing the establishment of a new factory in 10th of Ramadan City on a land space of 1000 square meters More About: Factory , Oriental
Profits of the Metallurgical industries’ companies hit LE 1.2 billion
2008-01-20 13:40:00 According to Al Ahram, The ordinary general assembly meeting of the holding company for metallurgical industries was held yesterday, chaired by minister of investment. The minister asserted the importance of studying the possibility of Egypt Aluminum Company (EGAL.CA) and Iron and Steel Company to enter new development projects in order to improve their performances. Chairman of the holding More About: Companies , Profits , Billion
Delta Construction starts a project in Nasr City
2008-01-20 13:36:00 Arab Finance: According to Al Alam Elyom; Delta Construction & Rebuilding (DCRC.CA) has received the land located in Nasr City that it bought from the Arab Real Estate Bank at LE 125 million. The company will use the land in a project of 75,000 meters' buildings expected to be sold at LE 735 million. More About: Project
Establishing new insurance company
2008-01-17 14:48:00 According to Al Ahram, Chairman of The Egyptian insurance supervisory authority declared the authority's approval upon establishing the National Company for cooperative insurance to be operaing in life and properties insurance. The authority agreed also upon increasing the stake of the Arab Islamic Insurance Company (SALAMA) for cooperative insurance, from 8% to 51.15%, in Egyptian Saudi
Oil rises on short-covering after stocks build
2008-01-17 14:48:00 Oil edged up on Thursday, recovering from losses of more than $3 over the past two days as a hefty increase in US crude stocks compounded concerns of a slowing economy in the world's top energy consumer. US light crude for February delivery rose 36 cents at $91.20 a barrel by 0734 GMT. The contract ended down $1.06 at $90.84 on Wednesday, after hitting a low of $89.26, the weakest level in nearly More About: Stocks , Build , Short
Foreign Reserves Increased to US $ 29.9 Billion
2007-11-07 21:04:00 The Central Bank of Egypt (CBE) announced that Egypt's foreign reserves reached US$ 29.9 billion at the end of September 2007, versus US $ 29.7 billion at the end of August 2007. More About: Foreign , Reserves , Reign , Reserve , Billion
Tourism revenues hit $ 9 million
2007-11-07 21:03:00 According to Al Ahram; Zouhir Garanah, Minister of Tourism , announced that number of tourists reached 9 million this year, compared to 7.9 million in the previous year, and tourism revenues amounted to $ 7.6 billion in 2006 and are expected to reach $ 14.0 billion by 2011. More About: Million
Orascom Telecom bids for a license in Lebanon
2007-11-07 21:03:00 According to Al Alam Elyom; Naguib Sawiris, chairman of Orascom Telecom Holding (OT), announced that his company intends to bid for a mobile operator license in Lebanon competing against Etisalat and others. The Lebanese government is offering 2 licenses; companies will start submitting their bids on February 1st 2008 and technically qualified companies will be shortlisted by February 18th, 2008. More About: License , Anon
South Valley Cement records 323 % profits' growth
2007-11-07 21:02:00 South Valley Cement (SVCE.CA) reports 9 months unaudited results, recording a net profit of LE 300 million for the period from 01/01/2007 to 30/09/2007, compared against a net profit before minority interest of LE 70.9 million for the same comparable period from 01/01/2006 to 30/09/2006; implying an increase of 323 %. More About: Growth , South , Profits
TMG offer shares in IPO and private placement
More articles from this author:2007-11-07 21:02:00 Talaat Mostafa Group announced yesterday that it will sell 395 million shares, worth LE 4.97 billion, to be offered in an IPO and private placement too. The proceeds will be used to finance projects in Egypt and the Middle East. 330 million shares will be offered in a private placement at a price hovering between LE 10.6 to 12.6 per share and to be closed on November 15th, 2007, while the public More About: Private , Shares , Offer , Ares 1, 2 |
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