June 19th, 2019 | 0 commentsStudies by the UAE Ministry of Economy has shown that Expo 2020 Dubai will play a vital role in supporting entrepreneurship and small- and medium-sized enterprises (SMEs), state-run Emirates News Agency (WAM) reported. Almost 20% of total direct and indirect spending, equivalent to AED 5 billion, has been allocated for the exhibition embo...
June 17th, 2019 | 0 commentsArab Dairy Products Co. (Panda) announced that Dutch FrieslandCampina International Holding has submitted a request on Friday to carry out a due diligence process for the acquisition of the Egyptian dairy firm. This step is part of the Dutch company’s plan to take over the entire shares of Panda, the Egyptian firm said in a statement to t...
June 14th, 2019 | 0 commentsThe board members of Rubex International for Plastic and Acrylic Manufacturing recommended distributing bonus shares to raise the issued and paid-up capital by EGP 4.44 million. Through distributing about 889,290 bonus shares at a nominal value of EGP 5, Rubex is expected to increase its capital to EGP 100 million from EGP 95.55 million,...
May 30th, 2019 | 0 commentsSpinneys, a leading supermarket chain in the Middle East, announced it will officially open its second store in the emirate of Ajman on Thursday, 30 May. Spanning over more than 14,000 square feet, the full-service supermarket store will offer over 35 new jobs for the local community, according to a press release. The new Ajman store will...
May 28th, 2019 | 0 commentsCoca-Cola has invested around $500 million in the Egyptian market over the past three years, general manager of Coca-Cola East Africa said in a conference. The multinational beverage maker aims to boost its investments in Egypt in the coming years, Ahmed Rady told reporters. Coca-Cola, the leading soft drinks producer, currently dominates...
May 27th, 2019 | 0 commentsMisr Duty-Free Shops (MFSC) announced in a statement sent to EGX, the Board of Directors (BoD) was held on May 23. The Board ratified the estimated budget for the fiscal year 2019/2020 that revealed targeting net profit of EGP 80.944 million, compared to EGP 126.534 million. -Arab Finance
May 27th, 2019 | 0 commentsEgypt Free Shops announced that its board of directors had approved the company’s estimated budget scheme for fiscal year 2019/2020. The company’s net profits after taxes are estimated to decline by 36% to EGP 80.944 million in FY19/20, compared to EGP 126.534 million in the previous year, according to a statement to the Egyptian Exchange...
May 24th, 2019 | 0 commentsMajid Al Futtaim’s retail unit has inaugurated EGP 200 million new branch in the Egyptian city of Ismailia. The new branch is the first integrated shopping mall in the city, according to a company statement released on Thursday. Located on 14,000 square metres, the new mall includes 14 different brands. Last year, CEO Alain Bejjani said t...
May 21st, 2019 | 0 commentsArabClicks, a leading affiliate programme, provides game-changing solutions for the e-commerce marketing industry in the Arab world, has expanded its business to Egypt. Being home to the highest number of Internet users across the Arab World, Egypt is currently witnessing talks between the Dubai-based company and many other e-commerce com...
May 15th, 2019 | 0 commentsDubai Refreshments announced it has achieved a net profit of AED 12.19 million for the full-year 2018, compared to AED 4.02 million in 2017. Revenue increased to AED 139.5 million last year from AED 135.09 million in 2017, according to a statement. Operating income totalled AED 8.47 million in the 12-month period ended 31 December 2018, a...
