June 19th, 2019 | 0 commentsHeliopolis Company for Housing and Development has sold land plots at a total value of EGP 66.7 million during the auction held on Monday, 17 June 2019. The selling of these assets, located in Sheraton Area in Cairo, comes as part of Heliopolis Housing’s plan to sell 2% to 3% of its land portfolio in three different areas, according to a...
June 18th, 2019 | 0 commentsState-run Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS) have reached an agreement with Israel Electric Corp. to settle a 2012 dispute for halting natural gas supplies. Under the deal signed on 16 June, Egypt will pay a reduced fine of $500 million, down from $1.7 billion, and the Israeli com...
June 17th, 2019 | 0 commentsElsewedy Electric announced signing a purchase agreement with R.F. Energy S.A, subsidiary to F.G Europe S.A, to acquire the entire stake in four companies in Greece for EUR 55 million. The deal includes the acquisition of three wind energy companies and another firm owning a hydroelectric power project, the Cairo-based firm said in a stat...
June 14th, 2019 | 0 commentsGhabbour Auto (GB Auto) announced that its subsidiary GB Leasing has issued its second securitisation bonds valued at EGP 767 million. Egypt's largest car assembler and distributor will use proceeds from the transaction to slash its debt, strengthen its financial position, and create new credit limits with banks to support future growth p...
June 13th, 2019 | 0 commentsEgypt's National Telecommunications Regulatory Authority (NTRA) said on Monday it had fined LE 10 million ($597.4 thousand) to Vodafone Egypt for a few hours of interruptions in telecommunications services on June 3. NTRA said in a statement that this is the first time that a fine was imposed on a company for the service cut. "From now on...
June 11th, 2019 | 0 commentsRaya Holding for Financial Investments company (RAYA) asserts the news that has been published in a newspaper regarding injection EGP 400 million by its subsidiary, Aman For Microfinance, to finance small and micro enterprises (SMEs) in the current fiscal year. Aman's work volume has been increasing because of its pursuit to finance SMEs...
June 10th, 2019 | 0 commentsEgyptians Abroad for Investment and Development announced that its board of directors had approved increasing the company’s authorised, issued, and paid-up capital. The board decided to raise the issued and paid-up capital by EGP 124.4 million distributed over 49.76 million shares at a nominal value of EGP 2.5 per share, along with issuan...
June 7th, 2019 | 0 commentsELSaeed Contracting & Real Estate Investment Company (SCCD) (UEGC) announced Monday, in a statement sent to EGX, the financial results for the fiscal period starting January 1, 2019, and ending March 31, 2019. The company posted consolidated net profits of EGP 32 million in the first quarter of 2019, compared to EGP 13.5 million profi...
June 3rd, 2019 | 0 commentsCairo Investment and Real Estate Development announced signing a finance facility agreement with Qatar National Bank Al Ahli (QNB Al Ahli) to receive EGP 100 million loan as a first tranche. The finance will be used to resume the construction of Badr University, according to a statement to the Egyptian Exchange (EGX) on Sunday. In April,...
June 2nd, 2019 | 0 commentsInertia Properties’ investments in Egypt reached EGP 100 billion ($5.97 billion), CEO Ahmed El Adwi said. The company is holding 7.5 million square metres land, he added. The top official revealed that Inertia was executing its biggest project, Jefaira North Coast, on 5.5 million square metres. The company has obtained all approvals requi...
