FINANCE & ECONOMY

20 Feb 2020

EBRD finances Almarai’s operation in Egypt, Jordan by $100M

CAIRO – 19 February 2020: The European Bank for Reconstruction and Development (EBRD) offered a $100 million- loan to Almarai Company to finance operations in Egypt and Jordan.

Almarai is listed on the Saudi stock exchange with a market capitalization of approximately"...

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20 Feb 2020

Egypt in talks with companies to promote new gold-mining tender

CAIRO – 19 February 2020: Egypt has started talks with one of the companies to promote a new tender in gold-mining in Egypt, Egyptian Businessman Naguib Sawiris told Bloomberg Tuesday.

Sawiris who is involved in the talks didn’t specify which of his companies would"...

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20 Feb 2020

Egypt has strategic wheat reserves for 4.7 months

Egypt, the world's largest wheat buyer, has enough strategic reserves of the grain for 4.7 months and sugar reserves for 5.3 months, the supply minister said in remarks reported by the state news agency on Wednesday.

"...

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20 Feb 2020

MBG to invest $44M in Pukka’s in Egypt’s new capital flagship

Egyptian Master Builders Group (MBG) says it is planning to invest 700 million Egyptian pounds ($44 million) in its residential flagship Pukka in the country’s new capital during 2020, according to its CEO.

Mahmoud"...

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19 Feb 2020

Rubex International gets green light to increase capital by EGP 50M

ArabFinance: Rubex International for Plastic and Acrylic Manufacturing (RUBEX) (RUBX) got the Financial Regulatory Authority's approval to publish the disclosure report regarding the capital increase.

The"...

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19 Feb 2020

MAK Investments unveils Mӧvenpick resort in Marsa Alam’s Port Ghalib project

MAK Group, through its investment arm in Egypt MAK Investment Holding Co. SAE, is expanding its hospitality portfolio in Port Ghalib resort on Egypt’s Red Sea Riviera and signing a management agreement for a Mövenpick resort in Marsa Alam.

Port"...

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19 Feb 2020

Lesaffre Egypt for yeast production aims to export 8,000 tonnes by end of 2020

Lesaffre Egypt for the manufacture of fresh and dry yeast aims to export 8,000 tonnes of yeast by the end of this year, compared to 6,000 tonnes in 2019, according to Karim Omar, chairperson of exports at the company.

He"...

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19 Feb 2020

SCZone to hold international conference for investments next month

Yehia Zaki, Chairperson of the General Authority of the Suez Canal Economic Zone (SCZone) said that the authority is organising a conference for investing in its projects, which is scheduled for next March at the Galala area.

He"...

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19 Feb 2020

Port Said to witness 4th stage of digital transformation within weeks: MCIT

Minister of Communications and Information Technology (MCIT) Amr Talaat said his ministry is working on multi-axis scheme for digital transformation in Egypt, and turning Port Said into a smart city will be the initial fruits of this sphere.

Talaat"...

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19 Feb 2020

Accor to cement presence on Egypt’s Red Sea Riviera

CAIRO — Accor, a world-leading augmented hospitality group, is cementing its leadership position on Egypt’s Red Sea Riviera after signing a management agreement for a Mövenpick resort in the fast-growing city of Marsa Alam.

The group has partnered with Port"...

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