TMG’s New Chairman Says all Projects on Time

Talaat Moustafa Group, beaten by news that its outgoing chairman had been charged in a murder case, assured the public on Wednesday that all its outstanding projects are running per schedule and would be delivered on time. More..

EFIC Profit up Three Fold in Seven Months

Egyptian Financial and Industrial Co (EFIC) and one of its subsidiaries made a pretax profit of £E 218.1 million in the first seven months of 2008, about three times as much as in the same period of 2007. More..

Naeem Buys Back 4.9 % of its Shares

Naeem Holding announced Tuesday its board approval to buy back up to 4.9 % of the firm's shares from the open market. More..

ECMS Takes New Chair

Egyptian Company for Mobile Services (ECMS) announced Sunday that it has a new Chairman of the Board in the person of Alex Shalaby, now Chief Executive Officer. More..

Medinet Nasr to Buy Back £E 1 Million Shares

Medinet Nasr Housing, Egypt's third-largest listed housing company by value, said on Tuesday its board approved a share buyback of 1 million shares, or about 1 % of the company's shares. More..

South Valley Wins £E 189 million Concrete Contract

South Valley Cement announced Monday that it had won a £E 189 million contract to supply concrete to Alexandria Construction for the Madinaty project east of Cairo. More..

ASEC Mining To Invest in Ethiopia

ASEC Company for Mining (ASCOM) said on Monday it was taking a 20 % stake in a new company that will produce cement in Ethiopia. More..

AMOC to Pay £E 8.50 Dividend

Alexandria Mineral Oils Company (AMOC), the prime producer of refined petroleum products, announced on Monday it would pay a cash dividend of £E 8.50 a share, in two phases. More..

Piraeus Bank H1 Net Surges to £E 27.7 Million

Piraeus Bank Egypt’s net profit soared more than 14-fold in the first half of 2008 to £E 27.7 million. More..

Telecom Egypt Mobile Revenue Boosts Q2 Profit

Telecom Egypt posted £E 681.2 million profit for the third quarter of this year, a rise of 65% from last year. More..

CIB Posts 35% in Q2 Net Profit

Commercial International Bank (CIB) declared a net profit of £E 516 million for the second quarter of this year, a rise of 35 %. More..

Misr Cement Qena H1 net Up By 4.4 %

Misr Cement Qena posted a net profit of £E 154.4 million in the first half of 2008. This profit is 4.4 % higher than the same period of 2007. This information was provided by the stock exchange. More..

Suez Cement Q1 Profit Up by 28.8%

Suez Cement declared a £E 768.99 million or a 28.8 % rise in first-half net profit before minority interest. More..

Mobinil Launches 3G Network Sept. 1

Mobinil will offer third generation (3G) mobile services starting Sept. 1. This announcement was made by the state news agency, MENA. More..

Orascom Telecom To Reduce Capital, 3rd in 2008

Orascom Telecom, the largest Arab mobile operator by subscribers, announced on Thursday that it had agreed to reduce its capital. More..

Arafa Buys Back 5 % of Shares

Arafa Holdings announced on Wednesday that it plans to buy back up to 5 % of its shares to support its share price. The 5 % would have a market value of about £E 60.9 million at current prices. More..

SODIC Buys Agricultural Firm For £E 312.6 Million

Sixth of October Development and Investment (SODIC), Egypt's third largest real estate developer by market value, announced on Wednesday that it has bought 1.36 million square metres of land from El Yousr Company for Projects and Agricultural Development. More..

Khalda Awards Petrofac Gas Processing Contract

Khalda Petroleum awards Petrofac a contract to build a gas processing unit in Egypt.. More..

Ezz Plans Capital Increase for Further Expansion

Ezz Steel will raise its capital 1.82 billion Egyptian pounds ($343 million) by selling 364,776,388 new shares at a par value of five pounds. More..

Actis to Invest $48.5 Million in Mo'men

Actis has agreed to invest $48.5 million in Mo'men Group, the Egyptian fast food and food processing company. More..

Apache Reports Good Results at Egypt's Heqet-2

Apache finds a potentially significant oil accumulation at Heqet-2 appraisal well in Egypt's Greater Khalda area and plans to drill more wells. More..

EGPC to build $9 billion Refinery & PetroChemcicals Complex

EGPC will spend $9 billion over the next five years to build an oil refinery and petrochemical complex on the country's north coast. More..

El Sewedy Offers Share Dividends to Raise Capital

El Sewedy Cables, the largest publicly traded Arab cable producer, announced on Wednesday that will offer a one for 10 stock dividend to boost its issued capital to £E 1.322 billion from £E 1.2 billion. More..

EFIC H1 Net Profit Up by 69 %

Egyptian Financial and Industrial Company (EFIC) posted a £E 79.6 million of net pre-tax profit for the first half of 2008 representing a 69 % rise from last year’s profit of £E 47.1 million for the same period. More..

Alexandria Mineral Oils Profit Up by 5.8 %

Alexandria Mineral Oils Company (AMOC) reported a net profit of £E 917.9 million in the financial year ended June 30. More..