Edition:
United States

Ehab Farouk

UPDATE 1-Sarwa Capital's IPO prospectus contained no irregularities -Egypt's Beltone

Nov 06 2018

CAIRO, Nov 6 Egypt's Beltone Financial Holding said that the prospectus for last month's initial public offering of consumer finance provider Sarwa Capital contained no irregularities.

Egypt cancels second consecutive T-bond sale due to high yields

Sep 10 2018

CAIRO, Sept 10 Egypt cancelled its second consecutive treasury bonds auction on Monday after banks and investors demanded high yields on the debt, statements by the central bank showed.

Egypt's first smartphone maker sees market share rising by 2020

Jul 02 2018

CAIRO Egypt's first smartphone maker is looking to capture 17 percent of the country's market by 2020, up from 2.7 percent, its chairman said, as the company aims to tap a sprawling low-income market that has long been priced out of using high-tech phones.

Egypt targets 8-10 flotations of state firms over 18 months: finance minister

Jan 21 2018

CAIRO Egypt is looking to offer shares in eight to 10 state companies on the stock exchange over the next 18 months, Finance Minister Amr El-Garhy told Reuters on Sunday, as part of a drive to attract foreign investors.

Egypt hikes 2017-18 economic growth forecast to 5.3-5.5 percent

Jan 13 2018

CAIRO Egypt has revised up its economic growth forecast for fiscal 2017-18 that began in July to 5.3 to 5.5 percent from 4.8 percent previously, the planning minister said on Saturday.

Hilton Worldwide plans Egypt expansion, sees pick-up in tourism

Nov 15 2017

PORT SAID Hilton Worldwide aims to increase the number of hotel rooms it manages in Egypt by 40 percent by the end of 2022, the company's vice president for the North Africa region said.

Egypt expects IMF review by end-October: finance minister

Sep 19 2017

CAIRO Egypt expects the next review of its International Monetary Fund loan program by end-October, ahead of a $2 billion disbursement set for December, Finance Minister Amr El-Garhy said on Tuesday.

Egypt's tourism revenues rise 170 percent in first seven months of 2017: official

Sep 05 2017

CAIRO Egypt's tourism revenues jumped by 170 percent in the first seven months of 2017, reaching $3.5 billion, a government official told Reuters, in welcome news for an economy heavily reliant on the sector for foreign currency and jobs.

Hilton Worldwide plans to expand in Egypt: official

Aug 09 2017

CAIRO Hilton Worldwide plans to nearly double the number of its hotels in Egypt within seven to 10 years as tourism returns to levels seen before a 2011 uprising, the company's deputy head for Egypt and North Africa said.

Egypt's Naeem Holding to merge Reacap business with Wadi Degla- CEO

Aug 08 2017

CAIRO, Aug 8 Naeem Holding for Investments SAE will merge its Reacap Financial Investments SAE with real estate group Wadi Degla Developments, creating a company with a book value of 3.5 billion Egyptian pounds ($197.18 million), Naeem Holding CEO Youssef Al Far said on Tuesday.

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