White House says Netanyahu's speech should not complicate Iran talks    Cairo Stadium orders suspension of Drive Championship's 2nd round    Yemeni delegation reportedly visits Cairo    CORRECTION: 11 injured, no deaths in High Court explosion    Photojournalist facing trial on terrorism charges    Petroleum Ministry denies airline request to pay for fuel in EGP    Factbox: Egypt's new coach Hector Cuper    Gulf markets sluggish, EFG Hermes leads Egypt rebound    Germany lifts South Sinai travel warning    12 minors acquitted of charges among 25 January anniversary detainees    New leaks allege UAE involvement in Egyptian military fund    80 hotels, Egyptian tourism agencies participate in ITB Berlin exhibition: Hotels Chamber Chairman    Court to decide on appeals against postponement of Press Syndicate elections    Court orders retrial for Qatar, Turkey terrorism cases    Libyan army forces siege of Islamic State-run Derna: Spokesman    Egypt's Sisi to Meet with top Russian Security Officials    Egypt's Supply Ministry Coordinates With CBE to Ease Food Commodities Import    Egypt Plans to Construct New Capital City at Estimated Cost of US$80bn    Blast in central Cairo - state television    BREAKING: Bomb explodes in downtown Cairo    Belly dancer Sofinar arrested over 'insulting Egyptian flag'    Egypt's Edita to list 30 pct of ordinary shares in secondary offering    Minor clashes between students, security at Al-Azhar University in Assiut    Huawei hopes to take a Bite out of Apple's Smartwatch Push    Egypt Minister: Started to Devalue Pound to Solve Repatriation Problem    US Police Shoot Homeless Man Dead in Los Angeles    Mighty Terry inspires Chelsea to League Cup glory    Egypt ministers head to Sudan for Ethiopia dam meetings    North Korea, angered by drills, fires short-range missiles off coast    British Minister "Concerned" After Possible Delay of Elections in Egypt    Tennis: Nadal beats Monaco to win 1st title in nearly 9 months    Egypt's March parliamentary elections on hold: HEC Spokesman    Egyptian lawyers protest alleged police killing of colleague    Call for participants to join public art workshop    Egyptian artist's project to open photography festival in Dubai    World's biggest private Harry Potter collection on display    Ageing: The Girls Who Never Grow Older    Al-Sisi promises Pardon of Al Jazeera Journalists    Naguib Sawiris plans to buy majority stake in Euronews    Al-Nahar TV presents new Economic Show ahead of Egypt March Summit    For The First Time-Robin Williams' Daughter Reflects On Her Father's Death    U.N. condemns Islamic State's 'Barbaric Terrorist Acts' in Iraq    Chris Bush to miss Miami Heights till end of season    Africa Cup of Nations: Egypt Confirms 2017 Bid Withdrawal    ‘Birdman' wins Four Oscars, including Best Picture    Egypt's Cabinet to pay EGP100,000 for families of stadium disaster    In Pictures: Egyptians ask for intercession on Mulid Al-Hussein    Antiquities ministry requests EGP 488m to continue projects: Cabinet spokesman    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

Egypt's Palm Hills posts H1 net loss
The bluechip developer was hard hit by widening graft probes that have frozen sales and increased cancellations
Published in Ahram Online on 21 - 08 - 2011

Egyptian real estate firm Palm Hills Developments , the country's second-biggest developer slipped to a 2011 first-half net loss of 81.4 million Egyptian pounds ($13.6 million), the stock exchange said on Sunday.
The firm, hard hit by an uprising that toppled President Hosni Mubarak and widening graft probes that have frozen sales and increased cancellations, reported a 191.4 million net profit in the first half of 2010, the note said, without providing further details.
Palm Hills had reported a first-quarter net loss of 36.2 million Egyptian pounds, compared with a year-earlier net profit of 107 million pounds.
Palm Hills is among several real estate firms facing legal challenges contesting its land bank.
Its Chairman Yasseen Mansour was among several businessman who were facing corruption charges. Mansour and the former housing minister Ahmed el-Maghrabi were cleared of corruption charges in a state land sale last month.
But although Mansour was cleared of criminal charges, the company is awaiting a verdict by another court on whether the contract for one of its land plots will be scrapped. That court is due to hear the case on Oct. 4.
The firm is facing court cases contesting the legality of two of its land plots and has said it would return at least two other plots of land to help manage cash flows.


Clic here to read the story from its source.