Careem, an application-based car service provider, managed to seal three separate investments that are worth a total of $72m, according to Careem Egypt General Manager Hadeer Shalaby.
The youthful spirit of Careem impacted Egyptian society; the (...)
Leading Investment bank, Pharos Holding, has finalised the process of selling the 51% stake of the Cairo-based Meivo International for Pharmaceutical Industries to the Saudi Pharmaceutical Industries & Medical Appliances Corporation – (...)
The European Union (EU) granted €30m worth of funding to support the "Expanding Access to Education and Protection of at Risk Children" programme.
The official signing of the agreement took place Thursday morning at the Ministry of International (...)
European Union (EU) Ambassador James Moran signed a grant agreement with the Ministry of Housing in Egypt to provide €32m towards the "Kafr El-Sheikh Wastewater Expansion Programme" in Egypt.
The signing came about on Thursday morning, between (...)
Egypt's annual consumer urban inflation increased to register 11.8% in November 2015, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a Thursday report.
The latest record is a significant rise when compared to the 8.5% (...)
British energy giant BP has finalised the acquisition of shares of two offshore concessions in Egypt, whereby the company now owns 22.75% in the North Alexandria concession, as well as 2.75% in the West Mediterranean Deep Water Concession, a (...)
During the third session of the Egypt Automotive Summit, businessmen in the car industry criticised and questioned a number of factors set by the Cairo governorate that concern establishing the New "Car City" project.
The New Car City is going to be (...)
A clear strategy, roadmap and an action plan must be set by the government to enhance and develop the automotive industry in Egypt, panellists argued at the second annual Egypt Automotive Summit on Tuesday.
Several obstacles facing international (...)
Sigma Capital will launch two initial public offerings (IPOs) by mid 2016, Chairman Ahmed Marwan told Daily News Egypt Monday.
The IPOs are for two companies, one operating in the pharmaceuticals and the other in the construction sector. Marwan (...)
In light of the recent lapse in security, and the consequent plummeting of Egypt's barely-recovering tourism industry, Daily News Egypt spoke with media representatives from various countries about their current views on Egypt, and whether or not (...)
Leading international company Philips is considering creating new partnerships with private Egyptian companies for local manufacturing, JJ Van Douneng, CEO of Philips South Africa told Daily News Egypt.
"We are in discussions in Egypt about local (...)
Moving to the use of LED technology can help reduce energy consumption by about 80%, according to Thierry Boulanger, Lighting CEO at Philips.
Talking to Daily News Egypt on the sidelines of the Philips innovation experience, which took place in (...)
In the beautiful modern city of Johannesburg, one can see evidence of the advanced state of development achieved in this part of Africa. Both beauty and high levels of development can be seen in various parts of the city, from the clean streets and (...)
The Central Bank of Egypt (CBE) is expected to inject $1bn in FX with the start of December in a move to help commercial banks satisfy their commitments to their clients, according to Al-Borsa Newspaper.
The supply shall be injected after Tarek (...)
The International Finance Corporation (IFC), a member of the World Bank Group, succeeded in providing power to 10.7 million customers in the MENA region in 2014, a statement by IFC read.
The figure compares to the year 2013 where 10.3 million people (...)
Minister of Industry and Trade Tarek Qabil left to Abu Dhabi Thursday morning for a tripartite meeting with Russian and Emirati officials to discuss specifics on the establishment of a mutual fund.
The meeting shall outline the works of the fund, (...)
Dolphinus Holding, headed by Egyptian businessman Alaa Arafa, signed a letter of intent with Israeli Leviathan Partners (Delek Group and Noble Energy) to supply Arafa's company with gas from Israel, Delek's official website reported.
According to (...)
The African Export-Import Bank (Afreximbank) has closed a syndicated loan worth $525m that is to be provided over five years for the Egyptian Electricity Holding Company (EEHC), a statement from the bank read.
The purpose of the loan is to aid the (...)
Egyptian Minister of International Cooperation Sahar Nasr awaits the World Bank's ratification for providing Egypt with a loan worth $1bn before the end of the current year.
Earlier this month, the World Bank agreed to raise Egypt's portfolio from (...)
Since late 2014, the Egyptian government has signed more than 62 production sharing contracts for upstream private investment in the oil and gas sector, according to Mohamed El-Masry, Chairman of the Egyptian General Petroleum Corporation (...)
China Petroleum and Technology Development Corporation (CPTDC) intends to invest approximately $10m in Egypt, Li Qitang, Egypt's chief office representative, told Daily News Egypt.
The amount is to be used for assembling and producing oil equipment (...)
German industrial giant Siemens, in a consortium with Egyptian company Elsewedy Electric, signed a Financial Close agreement for a combined cycle power plant project in Beni Suef that is expected to generate a power capacity of 4,800 MW.
The value (...)
Leading real estate provider Talaat Mostafa Group Holding (TMGH) declared an 8.9% increase in net profits for the first nine months of 2015, standing at EGP 531.4m.
The figure compares to EGP 487.9m that were generated in profits in the same period (...)
Amer Group's net profits stood at EGP 111.38m for the first nine months of 2015, according to Reyad Refaat, Investor Relations Manager at the group.
This is considered a good amount considering the circumstances the group is going through, Refaat (...)
Careem, an application-based car service provider has succeeded in raising $60m worth of funding, with Abraaj Group being a lead investor in the funding process.
With the new deal, Careem aims to expand its horizons and innovative solutions in the (...)