March 7th, 2019 | 0 commentsThe Arab Dairy Products Co. (Panda) on Wednesday posted it has turned profitable in 2018, as compared with 2017. Consolidated profits reached EGP 41.29 million during the 12-month period ended December 2018, against a net loss of EGP 29.32 million in 2017, including minority shareholders’ rights, according to a filing to the Egyptian Exch...
March 7th, 2019 | 0 commentsEastern Co., Egypt's monopoly cigarette maker, has implemented both its private placement and initial public offering (IPO) on the Egyptian Exchange (EGX) on Wednesday, with a total value of EGP 1.72 billion. Around 96.18 million shares were offered in the company’s IPO, with EGP 1.6 billion in turnover, according to a bourse statement re...
March 6th, 2019 | 0 commentsEastern Co on Tuesday announced the signing of three contracts worth a combined $600,000 a year with the UAE-based Al Wahdania General Trading Company. The contracts will be implemented within three years with an annual increase of 10% to export 200 tonnes of tobacco to three Arab states, the Cairo-based firm said in a statement to the Eg...
February 28th, 2019 | 0 commentsEastern Company’s board has approved renewal contracts for joint production agreements with Al Mansour International Distribution Company and British American Tobacco Egypt. The five-year contract signed with Al Mansour International for the production of Target cigarette brand will be effective from 26 April 2019 to 25 April 2024, Egypt'...
February 27th, 2019 | 0 commentsDubai-based developer Majid Al Futtaim plans to renovate as much as 30% of the City Centre Deira opened in November 1995. The project’s total cost amounted to AED 377 million ($102.6 million). The company will modernise the mall and attract new tenant and customers, Al Futtaim, the Middle East operator of French retailer Carrefour, said....
February 26th, 2019 | 0 commentsOctal has announced it will be investing a minimum of $50 million this year in its PET sheet business in Oman. The outlay will largely be in PET sheet capacity expansion to improve existing machinery, increase operational efficiencies and generate cost savings. The world’s leading clear rigid packaging material supplier recorded consisten...
February 26th, 2019 | 0 commentsCoinciding with the inauguration of LuLu Mall, LuLu Group has opened its newest hypermarket in the eastern city of Dammam. This is the group’s 16th branch in Saudi Arabia and the 161st globally. Fahd Al-Jubair, mayor of the Eastern Province, inaugurated the new branch in the presence of Abdul Rehman Bin Fahad Al Muqbel, director general o...
February 26th, 2019 | 0 commentsAustralian company Brambles on Monday announced that it has entered into a binding agreement to sell its IFCO reusable plastic containers (RPC) business to Triton and Luxinva, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), in a deal worth $2.51 billion. "In August 2018, we announced that we would seek to separate...
February 26th, 2019 | 0 commentsEmaar Malls on Monday announced its complete acquisition of leading regional fashion e-commerce retailer Namshi in a deal worth AED 475.5 million ($129.5 million). This transaction comes after Emaar Malls acquired the remaining stake held by Global Fashion Group (GFG) in Namshi, according to a filing to the Dubai Financial Market (DFM). I...
February 20th, 2019 | 0 commentsAlmarai Co will meet with a number of investors to issue US dollar-denominated sukuk that will be under the fixed rate RegS Senior system. The value of the Islamic bond issue will be specified over the coming period subject to the market’s conditions, according to a statement on Tuesday to the Saudi Stock Exchange (Tadawul). The meetings...
